This smallcap three-wheeler manufacturer hit 5% upper circuit after 25% YoY rise in November auto sales

In its monthly business updates filed with the stock exchanges on Monday, Atul Auto reported total sales of 2,828 units in the month of November this year, both in domestic and export markets. This was an increase of 24.58% year-on-year compared to 2,270 units in November 2023.

In terms of domestic sales, the company’s November 2024 figures showed a 19.4% jump to 2,535 vehicles compared to 2,123 units in the same month last year.

The company saw a massive jump in its Level 5 electric vehicles sales, with a 251.16% YoY rise. Atul Auto sold 151 units of EV-L5 as compared to 43 units last year, including both domestic sales and exports.

The three-wheeler IC Engine vehicles also saw a 33.85% rise in sales in November in both the domestic and export segments. The company sold 2,151 units of these vehicles, compared to 1,607 units in the same month last year. On the other hand, in the domestic market, the company sold 1,858 units of these vehicles in November 2024, compared to 1,460 units in November 2023, marking a 27.26% YoY rise.

However, overall Level 3 EV sales dipped 15.16% in November 2024. The number of vehicles sold in the month dropped to 526 from 620 last year.

Shares of Atul Auto Limited have risen by 8.16% in the last five trading sessions. However, in the past month the stock has declined over 5%, while dropping up to 4% in the last one year. The stock has gained 3.6% in 2024 so far.