Atul Auto (ATULAUTO) had a P/E of 24.8× on 6 Nov 2026, below the industry P/E of 33.1×, and the shares are 33% below their 52-week high. Sales and net profit grew 17% and 119% a year over 3 years; its ROCE of 12% is the lowest among the 7 largest Auto Manufacturers peers. Debt is 0.22× equity, and its dividend yield is 1.5%. It is a small-cap company with a market cap of ₹1,108 Cr, ranked 17th of 20 Auto Manufacturers companies by market cap; the shares fell 16% over the past year.
- ₹395.10
- ₹402.00
- ₹391.90
- ₹400.90
- 47.7K
Health check
- ReturnsBehind
−16.1% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 24.8 vs industry 33.1.
- GrowthSteady
Sales +17.1%, profit +119.4% a year over 3 years.
- ProfitabilityWeak
ROCE 11.9% vs peer median 26.1%.
- Balance sheetSolid
Debt 0.22× equity, interest covered 8.4×, Piotroski 6 of 9.
- Red flags2 to check
Quarterly profit down 27.0% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹1,108 Cr
- Small cap
- P/E
- 24.8
- Industry 33.1
- Price to book
- 2.27
- Peers 8.38
- Dividend yield
- 1.50%
- ROE
- 10.0%
- Peers 24.1%
- ROCE
- 11.9%
- Peers 26.1%
- Debt to equity
- 0.22
- Debt ₹109 Cr
- EPS (TTM)
- ₹16.12
- Face value ₹5
- OPM (TTM)
- 9.2%
- Net margin 4.7%
- Sales growth
- +35.4%
- Latest quarter vs a year ago
- Profit growth
- −27.0%
- Latest quarter vs a year ago
- Price to sales
- 1.16
- EV/EBITDA 13.6
Strengths and risks
Strengths
- Quarterly sales up 35.4% on a year ago.
- P/E of 24.8 against an industry P/E of 33.1.
Risks to check
- Quarterly profit down 27.0% on a year ago.
- 33% below its 52-week high.
About Atul Auto
Atul Auto Limited manufactures and sells three-wheeler automobiles in India. It operates through Automobiles Business and Non Banking Financial Business segments. The company offers cargo, passenger, and e-rickshaw vehicles, as well as spare parts and accessories. It is also involved in retail finance business. The company sells its products under the Atul RIK, Atul GEM, Atul Elite, Atul:E, Atul Shakti, and Atul Gemini+ brands. It also exports its…
- Headquarters
- Rajkot
- Employees
- 660
- Sector
- Consumer Cyclical
- ISIN
- INE951D01028
- Website
- atulauto.co.in
Price range
- Avg volume (3M)
- 1.3 L
- 1-year return
- minus 16.1%
- From 52-week high
- minus 33.0%
Peers · Auto Manufacturers
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MARUTIMaruti Suzuki India | 12,750.00 | plus 0.77% | 4,00,863 | 29.8 | 3.68 | 17.2% | 12.9% | 10.2% | 15.9% | 21.1% | 1.10% | minus 17.7% |
| M&MMahindra & Mahindra | 3,287.20 | plus 5.11% | 3,94,715 | 19.0 | 3.75 | 17.1% | 20.1% | 18.2% | 17.5% | 18.5% | 1.00% | minus 12.7% |
| BAJAJ-AUTOBajaj Auto | 10,900.00 | plus 1.32% | 2,99,536 | 23.3 | 8.21 | 26.1% | 35.6% | 21.0% | 19.5% | 21.0% | 1.38% | plus 22.9% |
| TVSMOTORTVS Motor Company | 4,491.70 | plus 0.94% | 2,13,457 | 55.8 | 18.81 | 28.8% | 37.2% | 14.5% | 20.2% | 31.4% | 0.27% | plus 28.1% |
| EICHERMOTEicher Motors | 7,669.50 | minus 0.56% | 2,10,544 | 36.5 | 8.38 | 26.4% | 23.8% | 25.2% | 17.5% | 23.7% | 1.07% | plus 11.3% |
| HYUNDAIHyundai Motor India | 2,130.00 | plus 0.42% | 1,73,071 | 37.8 | 8.50 | 32.6% | 24.1% | 10.3% | 5.5% | 4.9% | 0.99% | minus 11.4% |
| TMCVTata Motors | 425.50 | minus 0.83% | 1,56,704 | 24.8 | 10.26 | 25.5% | 26.0% | 10.4% | – | – | 0.94% | plus 29.2% |
| ATULAUTOAtul Auto | 399.40 | minus 0.37% | 1,108 | 24.8 | 2.27 | 11.9% | 10.0% | 10.4% | 17.1% | 119.4% | 1.50% | minus 16.1% |
| Median of 7 peers | – | 0.77% | 2,13,457 | 29.8 | 8.38 | 26.1% | 24.1% | 14.5% | 17.5% | 21.1% | 1.00% | 11.3% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 195 | 226 | 238 | 215 | 264 | |
| 177 | 198 | 211 | 198 | 250 | |
| 18.5 | 28.3 | 27.3 | 16.9 | 14 | |
| 9.5% | 12.5% | 11.5% | 7.9% | 5.3% | |
| 0.4 | 0.5 | 0.7 | 0.5 | 1.3 | |
| 2.6 | 2.7 | 1.4 | 2.7 | 2.1 | |
| 4.7 | 4.7 | 4.6 | 4.7 | 4.8 | |
| 0 | −1.4 | 0.3 | 0.8 | 0.6 | |
| 11.6 | 20 | 22.2 | 10.8 | 9 | |
| 28.7% | 27.2% | 17.6% | 25.3% | 23.9% | |
| 9.2 | 15.4 | 14.8 | 7.9 | 6.7 | |
| 3.30 | 5.52 | 5.33 | 2.86 | 2.41 |
Profit & loss
- Sales CAGR 3Y
- +17.1%
- Profit CAGR 3Y
- +119.4%
- EPS CAGR 3Y
- +103.0%
- ROE
- 10.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 505 | 521 | 714 | 811 | |
| – | +3.3% | +36.9% | +13.6% | |
| 470 | 481 | 660 | 728 | |
| 34.9 | 39.9 | 53.9 | 83.3 | |
| 6.9% | 7.7% | 7.5% | 10.3% | |
| 13.8 | 17.2 | 27.4 | 24.3 | |
| 13.6 | 11.1 | 9.2 | 7.7 | |
| 15.5 | 18.1 | 18 | 18.5 | |
| −13.8 | −17.2 | −27.4 | −24.3 | |
| 5.8 | 10.7 | 26.6 | 57.1 | |
| 45.8% | 34.0% | 31.1% | 24.3% | |
| 4 | 9 | 21.6 | 42.3 | |
| – | +124.5% | +140.9% | +95.4% | |
| 1.82 | 3.39 | 7.79 | 15.23 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 11.9 | 13.9 | 13.9 | 13.9 | |
| 336 | 406 | 427 | 470 | |
| 137 | 110 | 74.4 | 145 | |
| 123 | 126 | 165 | 141 | |
| 609 | 655 | 680 | 769 | |
| 253 | 245 | 244 | 238 | |
| 1.3 | 0.1 | 1.3 | 2.7 | |
| 0 | – | – | – | |
| 20.6 | 42.9 | 17 | 80.3 | |
| 334 | 367 | 418 | 448 | |
| 609 | 655 | 680 | 769 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −17.7 | −0.8 | 25.3 | 40 | |
| −23.5 | −13.8 | 8.7 | −66.4 | |
| 38.9 | 30.5 | −36.8 | 33.1 | |
| −2.3 | 15.9 | −2.9 | 6.7 | |
| −7 | −8.6 | −16.5 | −11 | |
| −24.6 | −9.4 | 8.7 | 29 |
Shareholding pattern
- Promoters42.70%
- Public57.30%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 42.70% | 57.30% | 0.00 | |
| 30 Jun 2026 | 42.70% | 57.30% | 0.00 | |
| 31 Mar 2026 | 42.70% | 57.30% | 0.00 | |
| 31 Dec 2025 | 42.70% | 57.30% | 0.00 | |
| 30 Sep 2025 | 42.70% | 57.30% | – |
Major shareholders
Filings & events
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