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Atul Auto Ltd
(ATULAUTO)
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Rating:61Neutral
Price Target:
₹537.00
▲(13.11% Upside)
Action:Reiterated
Date:08/11/26
The score is primarily driven by improving financial performance (revenue and margin recovery with manageable leverage), but is held back by volatile cash-flow consistency. Technicals are supportive with a positive trend and neutral momentum, while valuation is a notable headwind due to the high P/E and no dividend yield data to offset it.
Positive Factors
Revenue Growth
A multi-year revenue rebound and FY2026 growth demonstrate durable demand recovery and expanding market reach. Stronger top-line provides scale to absorb fixed costs, supports reinvestment in products and distribution, and underpins sustainable earnings improvement over months to years.
Negative Factors
Inconsistent Cash Generation
Cash conversion has been choppy despite accounting profits, with past negative OCF and volatile FCF growth. Persistent working-capital or capex swings weaken internal funding for expansion, raising reliance on external financing and constraining durable investment or dividend capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A multi-year revenue rebound and FY2026 growth demonstrate durable demand recovery and expanding market reach. Stronger top-line provides scale to absorb fixed costs, supports reinvestment in products and distribution, and underpins sustainable earnings improvement over months to years.
Read all positive factors
Atul Auto Ltd (ATULAUTO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.92B
Dividend Yield0.65%
Average Volume (3M)20.57K
Price to Earnings (P/E)27.4
Beta (1Y)1.47
Revenue Growth20.21%
EPS Growth103.09%
CountryIN
Employees474
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)17.02
Shares Outstanding27,751,280
10 Day Avg. Volume8,325
30 Day Avg. Volume20,575
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)2.19
Price to Sales (P/S)1.29
P/FCF Ratio38.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Atul Auto Ltd Business Overview & Revenue Model
Company Description
Atul Auto Limited is an Indian-based company that specializes in the production and sale of three-wheeled automobiles. Their extensive product range includes passenger and cargo carriers, e-rickshaws, and dedicated delivery vans, alongside a selec...
How the Company Makes Money
Atul Auto primarily makes money by manufacturing and selling three-wheeler vehicles to end customers via dealers/distributors. Its core revenue stream is the sale of completed vehicles across passenger and cargo applications, where earnings are dr...
Atul Auto Ltd Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
64
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.85B | 8.24B | 7.23B | 5.23B | 4.66B | 3.07B |
| Gross Profit | 1.77B | 1.45B | 1.10B | 1.29B | 968.60M | 662.70M |
| EBITDA | 914.50M | 848.70M | 548.20M | 399.20M | 376.20M | -160.30M |
| Net Income | 472.40M | 422.60M | 216.30M | 89.80M | 40.00M | -249.40M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 7.69B | 6.80B | 6.55B | 6.09B | 5.45B |
| Cash, Cash Equivalents and Short-Term Investments | 824.50M | 824.50M | 250.60M | 428.50M | 205.60M | 62.20M |
| Total Debt | 0.00 | 1.45B | 1.10B | 1.44B | 1.71B | 1.88B |
| Total Liabilities | -4.90B | 2.79B | 2.34B | 2.27B | 2.56B | 2.69B |
| Stockholders Equity | 4.90B | 4.84B | 4.41B | 4.20B | 3.48B | 2.77B |
Cash Flow | ||||||
| Free Cash Flow | -199.70M | 273.60M | 169.40M | -94.30M | -246.00M | -1.79B |
| Operating Cash Flow | -149.70M | 383.60M | 334.80M | -7.90M | -176.50M | -1.69B |
| Investing Cash Flow | -280.30M | -673.00M | 87.00M | -137.90M | -235.10M | 41.60M |
| Financing Cash Flow | 303.60M | 348.70M | -450.30M | 304.70M | 388.50M | 1.64B |
Atul Auto Ltd Technical Analysis
Negative
474.75
Price Trends
495.33
Negative
486.80
Negative
465.07
Positive
Market Momentum
-9.49
Positive
37.21
Neutral
11.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ATULAUTO, the sentiment is Negative. The current price of 474.75 is below the 20-day moving average (MA) of 486.78, below the 50-day MA of 495.33, and above the 200-day MA of 465.07, indicating a neutral trend. The MACD of -9.49 indicates Positive momentum. The RSI at 37.21 is Neutral, neither overbought nor oversold. The STOCH value of 11.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ATULAUTO.
Atul Auto Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹231.38B | 18.42 | ― | 0.23% | 8.44% | 45.33% | |
72 Outperform | ₹3.94T | 19.17 | ― | 2.97% | 25.93% | 34.37% | |
68 Neutral | ₹3.28T | 28.31 | ― | 1.26% | 36.91% | 54.76% | |
61 Neutral | ₹12.92B | 27.44 | ― | 0.65% | 20.21% | 103.09% | |
59 Neutral | ₹1.96T | 57.25 | ― | 0.29% | 30.24% | 43.76% | |
58 Neutral | ₹91.32B | 58.28 | ― | 0.37% | 18.04% | 9.96% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:ATULAUTO
Atul Auto Ltd
465.50
-69.80
-13.04%
IN:BAJAJ.AUTO
Bajaj Auto Limited
11,920.65
2,609.02
28.02%
IN:FORCEMOT
Force Motors Limited
17,560.00
559.07
3.29%
IN:M&M
Mahindra & Mahindra Ltd.
3,168.90
-495.19
-13.51%
IN:SMLMAH
Sml Isuzu Limited
6,310.15
2,642.19
72.03%
IN:TVSMOTOR
TVS Motor Company Limited
4,136.00
558.41
15.61%
Atul Auto Ltd Corporate Events
Atul Auto Opens Special Window for Re-Lodgement of Physical Share Transfer Requests
Aug 11, 2026
Atul Auto Ltd has notified stock exchanges that it has opened a Special Window for shareholders to re-lodge transfer requests of physical shares, in line with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements and a rece...
Atul Auto posts strong July sales led by IC engine three-wheelers
Aug 1, 2026
Atul Auto Ltd reported a strong rise in three-wheeler sales for July 2026, with domestic IC engine volumes up 44.24% year-on-year and total domestic three-wheeler sales climbing 28.60%. However, EV sales declined 16.67% for the month, highlighting...
Atul Auto Confirms SEBI-Compliant Share Dematerialisation for June Quarter
Jul 13, 2026
Atul Auto Ltd, a listed three-wheeler commercial vehicle manufacturer based in Gujarat, has reaffirmed its adherence to Indian securities market norms through a regulatory filing. The company’s shares trade on BSE and NSE, and it works with ...
Atul Auto posts strong June 2026 growth led by IC engine three-wheelers
Jul 1, 2026
Atul Auto reported strong sales growth for June 2026 and the current financial year, driven mainly by its three-wheeler IC engine segment in both domestic and export markets. Total domestic sales rose 19.2% year-on-year in June and 32.14% year-to-...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.