Atul Auto Limited saw its share jump by more than 9 percent in the early hours on Thursday to reach a 52-week high of Rs 376.80. In the span of a month, the stock has gained more than 34 percent.
In Q3FY23, the company reported a total revenue of Rs 133.51 Crore which was an increase of 29 percent Year on Year from Rs 103.25 Crore. On a QoQ basis, their revenues jumped 8 percent from Rs 123.72 Crore.
The company turned profitable this quarter after it posted a Profit after tax of Rs 3.56 Crore in the period as against a loss of Rs 0.12 Crore in the previous quarter and a loss of Rs 8.81 Crore in Q3FY22.
Atul Auto Limited is a leading three-wheeler manufacturing company in India. The company has a wide presence across 21 states with 200 primary and 130 secondary networks.
In January 2023, the company announced its foray into the electric vehicle space by launching two models at the Auto Expo 2023. Atul Greentech Private Ltd (AGPL), a subsidiary of Atul Auto, launched Mobili, a passenger vehicle, and cargo variant Energie.
The small-cap company has a market capitalization of Rs 823 Crore. The promoters of the company have been consistently holding a 52.7 percent stake in the company with zero shares pledged for the last five quarters.
In addition to this, the stock also forms part of Vijay Kedia’s portfolio. The ace investor has been holding a stake in the company since 2015. As per the December 2022 filing, he holds around 3,21,512 shares or a 1.47% stake with a total holding value of Rs 12 Crore.
Written by Anoushka Roy
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
