Vijay Kedia stock hits 5% upper circuit after reporting strong November auto sales
Vijay Kedia stock hits 5% upper circuit after reporting strong November auto sales
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During Monday’s trading session, the shares of a company among the top 5 three-wheeler companies in India hit a 5 percent upper circuit at Rs. 596.3 on BSE, after the company announced strong November 2024 auto sales.
With a market cap of Rs. 1,654.8 crores, the shares of Atul Auto Limited opened in the green at Rs. 574.7, up by nearly 1.2 percent, as against its previous closing price of Rs. 567.95.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Atul Auto’s domestic sales volume for November 2024 reached 2,535 units, reflecting a 19.41 percent year-on-year increase compared to 2,123 units in November 2023.
For FY25 year-to-date, the company’s domestic sales volume stands at 20,124 units, up by 39.9 percent from 14,385 units during the same period last year.
When including exports, Atul Auto’s total sales volume for November 2024 was 2,828 units, a growth of about 24.6 percent YoY, compared to 2,270 units in November 2023.
For the year-to-date in FY25, Atul Auto’s sales volume, including exports, totals 22,064 units, representing a sharp growth of about 39.7 percent compared to 15,795 units during the same period last year.
Financials:
Atul Auto reported a significant growth in revenue from operations, experiencing a year-on-year rise of nearly 18.6 percent, from Rs. 153.2 crores in Q2 FY24 to Rs. 181.7 crores in Q2 FY25.
In contrast, its net profit decreased during the same period from Rs. 7.13 crores to Rs. 4.6 crores, representing a decline of nearly 35.5 percent YoY.
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Shareholding Pattern:
As per the September 2024 shareholding pattern, the Promoters hold a 42.74 percent stake in the company, Foreign Institutional Investors (FII) hold a 0.58 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 56.39 percent and 0.31 percent stake in Atul Auto, respectively.
According to the latest shareholding data available with the BSE, the ace investor Vijay Kedia holds a total of 20.91 stake in the company.
Stock Performance:
The stock has delivered negative returns of nearly 3.6 percent in one year, while around 10.2 percent of positive returns in the last six months. So far in 2024, the shares of Atul Auto have given positive returns of about 4.2 percent.
About the company:
Incorporated in 1986, Atul Auto Limited is engaged in the business of manufacturing and sales of auto-rickshaws (3-wheeler) in domestic and overseas markets.
The company has emerged as the only player with a complete range of 3-wheeler products across the fuel range of Diesel, Petrol, CNG, LPG and Electric.
Written by Shivani Singh
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