Atul Auto Limited (ATULAUTO)

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Atul Auto Limited (ATULAUTO) · mywealthgrid

About

Atul Auto Limited manufactures agricultural, commercial and construction vehicles within the industrials sector. With a market capitalization of ₹1,374.99 crore and quarterly revenues ranging ₹200–240 crore, it operates as a mid-cap vehicle manufacturer serving commercial transport and agricultural mechanization segments. The business model is cyclical, dependent on rural capex cycles, agricultural spending, and commercial vehicle demand trends.

Face value: ₹5

Market cap

₹1,181 Cr

P/E

25.0×

P/B

2.4×

Dividend yield

0.7%

ROE

9.1%

ROCE

12.6%

Debt / equity

0.3

OPM

10.2%

EPS (TTM)

₹17.0

Book value

₹174.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression from 12.76% (Dec 2025) to 5.34% (Jun 2026) indicates operational stress or demand-driven pricing pressure; researcher should verify whether this reflects cyclical weakness or structural challenges
Cyclical business exposure to rural capex and agricultural spending creates vulnerability to credit cycles and government spending trends (verify current rural economic conditions)
Valuation risk with PE of 29.11 and ROE of only 9.14% leaves limited safety margin; researcher should verify earnings sustainability and return trajectory

Generated analysis · source review pending

Growth drivers

Operating margin recovery potential: Historical OPM of 10–12%+ (Dec 2025, Mar 2026) versus current 5–7% (Jun 2026) indicates significant upside if operational challenges are cyclical; researcher should verify demand environment and cost structure
Operating leverage from revenue base: Quarterly revenues of ₹200–240 Cr with historical 10%+ margins suggest material fixed costs; volume growth could multiply profitability (verify production capacity and utilization)
Agricultural and commercial vehicle demand cycles: Business tied to rural capex, agricultural spending, and commercial transport trends; researcher should verify macro drivers including government spending and rural credit availability

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹424.8-3.2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 119.4% over the last 3 years
+Revenue CAGR of 22.7% over the last 5 years

Cons

−Low return on equity of 5.5% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

65/100

Business quality: 38
Growth: 92
Valuation: 64

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Tata Motors LimitedTMCVTMCV	₹1,53,008 Cr	₹1,57,825 Cr	₹87,197 Cr	₹8,812 Cr	9.1%	₹4,191 Cr	3.6%	31.3%	24%	-54
Ashok Leyland LimitedASHOKLEYASHOKLEY	₹88,390 Cr	₹1,52,326 Cr	₹57,723 Cr	₹10,982 Cr	19.1%	₹3,476 Cr	6.6%	16.6%	26.2%	-30
Sml Mahindra LimitedSMLMAHSMLMAH	₹9,064 Cr	₹9,344 Cr	₹2,950 Cr	₹273 Cr	9.8%	₹156 Cr	5.6%	41.4%	35.4%	78
Keto Motors LtdKETOMOTORSKETOMOTORS	₹1,753 Cr	₹1,791 Cr	₹2 Cr	₹1 Cr	23.9%	₹-0 Cr	-8.5%	-0.3%	-0.5%	5,652
Atul Auto LimitedATULAUTOATULAUTO	₹1,181 Cr	₹1,326 Cr	₹890 Cr	₹91 Cr	10.2%	₹47 Cr	5.2%	12.6%	9.1%	38

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	625	296	315	513	527	723	824
COGS	451	239	240	369	372	521	579
Gross profit	174	57	75	144	155	202	245
	102	62	91	107	115	150	161
	73	-5	-16	36	40	52	84
OPM %	11.6%	-1.8%	-5%	7.1%	7.6%	7.2%	10.2%
Depreciation	6	7	10	16	18	18	18
Interest	1	1	8	16	13	10	9
	3	2	1	2	2	3	1
Profit before tax	68	-11	-32	6	11	27	57
Tax	15	-3	-7	3	4	8	14
Tax %	21.5%	-26.8%	-22.9%	45.9%	34%	31.1%	24.3%
	54	-8	-25	3	7	18	43
PAT margin %	8.6%	-2.8%	-7.9%	0.6%	1.3%	2.5%	5.2%
EPS (₹)	24.4	-3.7	-11.4	1.8	3.4	6.6	15.2
EPS adjusted (₹)	—	-3.7	-11.4	1.7	3.2	7.8	15.2
	6.1%	—	—	0%	0%	0%	19.7%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	11	11	12	14	14	14
Reserves	289	266	336	406	427	470
Minority interest	—	—	4	9	6	7
	15	188	171	144	110	145
	73	81	86	82	124	134
Total equity & liabilities	388	545	609	655	680	769
	89	199	257	250	244	237
CWIP	150	60	1	0	1	3
Investments	31	0	18	25	1	58
	118	286	332	380	434	472
Total assets	388	545	609	655	680	769

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Automobiles Business	779.19	49.37	507.68	139.55	368.13	13.41
Non Banking Financial Business	52.43	11.78

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	27.9%	19.2%	23.8%	28%	29.4%	27.9%	29.7%
EBITDA margin %	11.4%	-2.6%	-5.2%	7.1%	7.6%	7.2%	10.2%
EBIT margin %	10.4%	-4.8%	-8.2%	4%	4.2%	4.7%	8%
PAT margin %	8.6%	-2.8%	-7.9%	0.6%	1.3%	2.5%	5.2%
Working capital
Receivable days	—	29	23	19	33	27	30
Inventory days	—	78	80	66	74	62	58
Payable days	—	71	65	47	39	47	50
NWC days	—	36	38	38	69	42	38
Leverage
Current ratio	—	1.4	1.19	1.21	1.67	1.8	1.58
Debt to EBITDA	—	—	—	4.7	3.61	2.09	1.72
Debt to equity	—	0.05	0.68	0.49	0.34	0.25	0.3
Interest coverage	65.9	-14.3	-3	1.4	1.8	3.6	7.3
Asset turnover	—	0.76	0.58	0.84	0.8	1.06	1.07
Return ratios
Return on assets %	—	-2.1%	-4.6%	0.5%	1.1%	2.7%	5.6%
Return on capital employed %	—	-4%	-6.9%	5.3%	5.1%	7.2%	12.6%
Return on equity %	—	-2.7%	-9%	0.9%	1.7%	4.2%	8.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	42.73%	42.73%	42.73%	42.73%	42.73%	42.73%	42.73%	42.73%	42.7%	42.7%	42.7%	42.7%
	0.45%	0.49%	0.47%	0.58%	0.57%	0.63%	0.69%	0.38%	0.38%	0.38%	0.84%	0.53%
	0.41%	0.41%	0.41%	0.41%	0.31%	0.13%	0.13%	0.13%	0.1%	0.1%	0.1%	0.07%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	56.41%	56.37%	56.39%	56.28%	56.39%	56.51%	56.45%	56.76%	56.82%	56.82%	56.36%	56.7%
No. of shareholders	—	—	—	—	—	—	—	—	63,289	61,382	59,046	59,890

Promoter holding down 0.03 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
KHUSHBU AUTO PRIVATE LIMITEDPromoter Group	SellMarket Sale	10,000	₹53.91 L	2.37% → 2.33%	15 Sept 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

199 deals · 27 Sept 2021 – 24 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
24 Apr 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	4,86,468	₹503.32	₹24.48 Cr
24 Apr 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	4,83,633	₹507.37	₹24.54 Cr
24 Apr 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	3,03,277	₹507.69	₹15.40 Cr
24 Apr 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	3,03,277	₹507.43	₹15.39 Cr
24 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	2,79,030	₹508.03	₹14.18 Cr
24 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	2,79,030	₹507.88	₹14.17 Cr
24 Apr 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	2,44,836	₹505.97	₹12.39 Cr
24 Apr 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	2,44,415	₹505.38	₹12.35 Cr
24 Apr 2026	IRAGE BROKING SERVICES LLP	Bulk	NSE	Buy	2,33,427	₹508.59	₹11.87 Cr
24 Apr 2026	QE SECURITIES LLP	Bulk	NSE	Buy	2,26,708	₹501.64	₹11.37 Cr

1–10 of 199

1 / 20

Mr. NEERAJ JENTIBHAI CHANDRAExecutive Director-Chairperson related to Promoter-MD
Mr. MAHENDRA JAMNADAS PATELExecutive Director
Mr. VIJAY KISHANLAL KEDIANon-Executive - Non Independent Director
Mr. GURUDEO MADHUKAR YADWADKARNon-Executive - Independent Director
Ms. HONEY SETHINon-Executive - Independent Director
Mr. KAMALKISHORE C VORANon-Executive - Independent Director
Paras Jivarajbhai ViramgamaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Atul Auto Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

6 announcementsExport CSV

1 Oct 2026, 7:49 pmCompany Update

Announcement under Regulation 30 (LODR)-Acquisition

Acquisition PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	27.9%	19.2%	23.8%	28%	29.4%	27.9%	29.7%
EBITDA margin %	11.4%	-2.6%	-5.2%	7.1%	7.6%	7.2%	10.2%
EBIT margin %	10.4%	-4.8%	-8.2%	4%	4.2%	4.7%	8%
PAT margin %	8.6%	-2.8%	-7.9%	0.6%	1.3%	2.5%	5.2%
Working capital
Receivable days	—	29	23	19	33	27	30
Inventory days	—	78	80	66	74	62	58
Payable days	—	71	65	47	39	47	50
NWC days	—	36	38	38	69	42	38
Leverage
Current ratio	—	1.4	1.19	1.21	1.67	1.8	1.58
Debt to EBITDA	—	—	—	4.7	3.61	2.09	1.72
Debt to equity	—	0.05	0.68	0.49	0.34	0.25	0.3
Interest coverage	65.9	-14.3	-3	1.4	1.8	3.6	7.3
Asset turnover	—	0.76	0.58	0.84	0.8	1.06	1.07
Return ratios
Return on assets %	—	-2.1%	-4.6%	0.5%	1.1%	2.7%	5.6%
Return on capital employed %	—	-4%	-6.9%	5.3%	5.1%	7.2%	12.6%
Return on equity %	—	-2.7%	-9%	0.9%	1.7%	4.2%	8.9%

Date	Category	Subject	Filing
1 Oct 2026, 7:49 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF
1 Oct 2026, 11:58 am	Company Update Monthly Business Updates	Announcement under Regulation 30 (LODR)-Monthly Business Updates	PDF
22 Sept 2026, 3:25 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
18 Sept 2026, 6:03 pm	AGM/EGM AGM	Proceedings Of Thirty Eighth Annual General Meeting.	PDF
1 Sept 2026, 6:39 pm	Company Update General	Intimation Of Communication To Shareholders With Respect To Regulation 36(1)(B) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, ('SEBI Listing Regulations, 2015').	PDF
1 Sept 2026, 11:53 am	Company Update Monthly Business Updates	Announcement under Regulation 30 (LODR)-Monthly Business Updates	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	52	-169	-18	-1	34	47
	-60	4	-24	-14	9	-66
	14	164	39	30	-45	26
Net cash flow	6	-1	-2	16	-2	6
Free cash flow	15	-179	-25	-9	17	36
CFO / Operating profit %	—	—	-48.7%	-2%	65.1%	56%

Atul Auto Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

21

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Automobiles Business · revenue

Atul Auto Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends21

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Automobiles Business · revenue

21

1

1