Atul Auto hits lifetime high

Atul Auto has today hit a new lifetime high at Rs.298, with a 2.7 times spike up in volumes.

The stock is up on some value buying seen on the counter post its exuberant Q2FY14 performance and good sales numbers for the month of Oct’13.  The company did very well in Q2, recording the highest vehicle sales in any single quarter at 9,576 units. Segment-wise company’s goods carrier market share improved to 16.07%, passenger carrier market stake improved to 5.10%, overall market stake improved to 7.06%. It ended Q2FY14, with a 19% (YoY) jump in net profit at Rs.7 crore on a 27% rise in net sales at Rs.109 crore, its highest ever quarterly turnover. It reported a 12% rise in EBITDA during the quarter. Also, the company, for H1FY14 reported its highest ever first half net profit at Rs.12 crore.

The market is enthused by the fact that it continues to do well in current Q3 too, with October sales coming at 4050 units, up 21.55% and total sales (April to Oct) stands at 21,194, up 19%. The company makes three-wheelers, with its manufacturing facility at Rajkot in the state of Gujarat, with a production capacity of 48,000 units.