Three-wheeler manufacturer Atul Auto Ltd delivered exceptional fourth-quarter results, with net profit surging 106.9% year-on-year to ₹14.8 crore compared to ₹7.2 crore in the corresponding quarter last year. According to reports from CNBC TV18, revenue increased 14% to ₹240.6 crore from ₹211 crore in the year-ago period. The company's EBITDA jumped 80.7% to ₹27.3 crore from ₹15.1 crore, with EBITDA margin expanding significantly to 11.4% from 7.2% in the corresponding quarter last year.
The company has recommended a final dividend of ₹3.00 per equity share of ₹5 each, subject to shareholder approval. As reported by CNBC TV18, shares of Atul Auto Ltd ended at ₹515.40, up by ₹25.45, or 5.19% on the BSE following the results announcement. The company operates across 25 states with more than 300 sales networks and exports to over 20 countries.
Last month, Atul Auto announced a significant memorandum of understanding (MoU) with Exponent Energy Pvt. Ltd. to manufacture and supply 15,000 electric three-wheelers integrated with the latter's battery system and powertrain. According to CNBC TV18, the contract size is ₹490.5 crore, with the Exponent Enabled Vehicles priced at around ₹3.27 lakh per unit. This contract will be executed over a three-year period, extendable by an additional grace period of six months from the date of state transport authority approvals.
