Atul Auto slips after Q1 PAT tumbles 56% QoQ to Rs 8 crore
However, on a year-on-year basis, consolidated net profit surged 290.29%, while revenue from operations increased 42.97%.
Total expenses rose 39.48% YoY to Rs 208.96 crore in Q1 FY27 from Rs 149.81 crore in Q1 FY26. The cost of materials consumed increased 45.75% YoY to Rs 164.40 crore, while employee benefits expenses rose 16.78% to Rs 22.82 crore.
Profit before tax (PBT) surged 231.38% YoY to Rs 10.77 crore in Q1 FY27 from Rs 3.25 crore in the corresponding quarter of the previous year.
On the segmental front, revenue from the automobiles business increased 45.88% YoY to Rs 206.63 crore, while revenue from the non-banking financial business rose 5.82% to Rs 13.63 crore during the quarter.
The company sold 9,878 three-wheelers during Q1 FY27, up 42.5% from 6,932 units sold in Q1 FY26.
Meanwhile, the board approved the reappointment of Mahendra J. Patel as whole-time director and chief financial officer for a further three-year term from 1 April 2027 to 31 March 2030, subject to shareholders' approval.
The board also approved the reappointment of Gurudeo Madhukar Yadwadkar as an independent director for a second consecutive three-year term from 11 August 2026 to 10 August 2029, subject to shareholders' approval.
The company said it plans to close its existing three-wheeler manufacturing operations at the Shapar (Veraval) facility in Rajkot and consolidate manufacturing operations at its Ahmedabad facility. The Ahmedabad plant has an installed production capacity of around 60,000 vehicles per annum.
According to the company, the consolidation is expected to improve operational efficiency, optimise manpower and resources, reduce fixed overheads and lower operating and administrative costs. The Ahmedabad facility also provides logistical and operational advantages due to its location and connectivity.
The board has also approved leasing the land and building of the Shapar (Veraval) manufacturing facility, spread across approximately 13 acres, subject to shareholders' approval. The proposed lease is aimed at generating steady recurring cash flows from the company's assets.
Atul Auto is a leading three-wheeler manufacturing company in Rajkot, Gujarat, India. It has a complete range of 3-wheeler products across the fuel range: diesel, petrol, CNG, LPG, and electric.
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