Shares of this Vijay Kedia stock traded in the green in Tuesday’s trading session after the company provided key updates pertaining to the sales during the month of September v/s the same month the previous year.
With a market capitalization of Rs 1,554.20 crores, the stocks of Atul Auto Limited started their trading session on Tuesday at Rs 604.55 and currently trade at Rs 596.60. The company’s scrip witnessed an intra-day high price of Rs 616.25 indicating a gain of around 2.2 percent as compared to the previous close of Rs 602.80 apiece.
Such stock price movements were observed post a BSE filing intimating key updates pertaining to the sale of vehicles during September 2023 v/s sales during September 2022. The company grew its sales by 18.10 percent by selling 2,254 vehicles during the month of September 2022 v/s 2,662 vehicles sold in the month of September 2023.
As per the latest shareholding data available with the BSE, Mr. Vijay Kedia, one of the well-known ace investors based in India, holds around 58 lakh shares equating to 20.9 percent stake under his name as well as his firm name, i.e., Kedia Securities Private Limited. Currently, the aggregate value of his investment stands at around Rs 345 crores.
Having a look at the consolidated annual financials, the company has shown an increase as far as the operating revenues and after-tax profits are concerned.
The operating revenues of the company rose from Rs 315.42 crores during FY21-22 to Rs 513.12 crores during FY22-23, and, the net profits transitioned from a loss of Rs 25.48 crores during FY21-22 to a profit of Rs 3.13 crores during FY22-23.
In addition to the above, the most popular leverage ratio such as the debt-to-equity ratio exhibited positive movements with a reduction from 0.68 times during FY21-22 to 0.49 times during FY22-23.
A glance at the June 2023 shareholding portrays the Promoters holding a 46.46 percent stake and the Retail Investors, holding a stake more than the former of 52.36 percent.
Atul Auto Limited is an automobile company based in India that is associated with the manufacturing process as well as the sale of three-wheeled commercial automobiles. Some of the products in the company’s portfolio include Atul Smart, Atul Gem, Atul Elite, etc. The company earns a majority of its revenue from domestic operations within India.
Written by Amit Madnani
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