Atul Auto zooms 12% on sharp surge in March, FY23 sales

Shares of Atul Auto Ltd jumped 12.five percentage withinside the morning exchange on April three after the three-wheeler producer stated a pointy surge in overall month-to-month income.

At 10.forty am, the inventory turned into buying and selling at Rs 346 on BSE, up eleven percentage from its preceding near while the benchmark Sensex turned into up 0.01 percentage at 58,988 factors. This 12 months, Atul Auto has received 24 percentage.

The corporation stated a 114.fifty six percentage growth in income in March to three,154 gadgets from 1,470 withinside the 12 months-in the past period. For financial 12 months 2022-23, the corporation`s income climbed fifty nine percentage to 2,5549 motors from 16,061 gadgets withinside the preceding 12 months.

The corporation knowledgeable exchanges that veteran investor and Atul Auto director Vijay Kedia raised stake withinside the corporation to 8.four percentage. Kedia transformed warrants that have been issued to him at Rs 198 a percentage in October 2022, elevating his conserving through 7.05 percent factors from the 1.35 percentage held via Kedia Securities.

The corporation makes passenger and items motors that run on numerous fuels, together with CNG, LPG and electric powered power. It has a presence in over 21 states with two hundred number one and one hundred thirty secondary networks, the corporation`s internet site says.

In Q3FY23, the corporation`s sales surged 32 percentage on-12 months to Rs 1.24 billion. Its EBITDA grew to Rs eighty five million from a lack of Rs seventy five million withinside the 12 months-in the past quarter.

The corporation turned into these days decided on as one of the providers through the authorities frame Convergence Energy Services Limited (CESL) for its 100,000 gadgets electric powered 3W tender.