Atul Auto Limited is an Indian three-wheeler (auto rickshaw, tuk-tuk, e-rickshaw) manufacturing company based in Rajkot, Gujarat. Incorporated as a private limited company in June 1986, it was later converted into a public limited company in August 1994, promoted by Jayantibhai J Chandra, Atul J Chandra, and Mahendra J Patel. The company is headquartered in Rajkot, India.
The company's origins trace back to the 1970s when Jagjivanbhai Chandra modified motorcycles to create transport solutions for rural areas of Saurashtra, adapting engines from golf carts. This innovation led to the development of his first 'chhakada' vehicles. Production officially began in 1992, evolving from these humble beginnings into a significant player in the automotive industry.
Atul Auto Ltd. (AAL) specializes in the three-wheeler segment of the automotive industry, manufacturing a comprehensive range of vehicles under the Atul brand. Its product offerings span both goods and passenger segments, available in multiple fuel types including petrol, diesel, LPG, CNG, and electric variants, alongside spare parts and allied products. The company offers its products under popular brand names such as Atul RIK, Atul Gem, Atul Gemini, Atul Gemi, Atul Elite, Atul Smart, and Atul Shakti.
Atul Auto is a leading three-wheeler manufacturing company in Rajkot, Gujarat, India, boasting a complete range of 3-wheeler products across the fuel spectrum. Their extensive product lineup includes passenger vehicles, cargo vehicles, auto-rickshaws, and e-rickshaws, meticulously designed to cater to diverse transportation requirements across urban and rural markets.
The company holds approximately 4% of the domestic market and a 3% share in combined domestic and export sales among Indian manufacturers, distinguishing itself as the only player with such a comprehensive product portfolio in this segment. Atul Auto has established a strong presence across India as one of the fastest-growing 3-wheeler companies, extending its reach across 21 states with more than 400 Touch Points.
Atul Auto Limited operates with cutting-edge manufacturing facilities located in Shapar, Rajkot, and Bhayla, Ahmedabad District. These state-of-the-art plants collectively boast a robust production capacity of 120,000 vehicles annually, underscoring the company's significant manufacturing prowess.
The company has made significant advancements in the electric vehicle (EV) segment through its subsidiary, Atul Greentech Private Ltd (AGPL). AGPL has successfully launched the RIK EV, a passenger vehicle, and the cargo variant Energie.
• Atul Energie: This model is notable as the industry's first electric cargo three-wheeler to feature a dual battery pack, providing a superior certified range of 195 km.
• Atul RIK EV: The passenger variant, Atul RIK EV, offers a certified range of 110 km.
These initiatives highlight Atul Auto's commitment to sustainable mobility and its strategic entry into the rapidly growing electric vehicle market.
Atul Auto has demonstrated a strong financial performance, showcasing significant growth in its recent results.
Key Financial Metrics:
• Q4 FY2024-25 Performance: Net profit surged 34.15% to ₹7.15 crore, with sales rising 29.35% to ₹204.59 crore compared to the same period last year.
• FY2024-25 Full Year Performance: Net profit increased remarkably by 140.87% to ₹21.63 crore, and sales grew 37.10% to ₹710.55 crore compared to the previous financial year.
• Market Capitalization: ₹1,251 crore (as of recent data).
The company maintains a significant international footprint, exporting its products to a diverse range of countries across various continents.
Key Export Markets:
• Asia: Bangladesh, Nepal, Cambodia, Myanmar
• Africa: South Africa, Ethiopia, Liberia, Sierra Leone, Tanzania
• Europe: United Kingdom
• Americas: Ecuador, Bolivia, Guatemala, Honduras, Mexico
This international presence underscores the company's global reach and the wide acceptance of its products in diverse markets.
Atul Auto has shown consistent sales growth, reflecting strong demand for its products.
• May 2025 Sales: Total sales rose 7.3% year-over-year (YoY), reaching 2,502 units.
• Domestic Sales: Increased by 12.2%, primarily driven by internal combustion engine three-wheelers, despite a slight decline in electric vehicle sales during the month.
• FY2024-25 Sales (April to March): The company's total sales aggregated to 34,012 units, registering a robust growth of 30.62% from 26,039 units sold in the same period a year ago.
The company's leadership includes Neeraj J Chandra as the managing director. Promoter holding in Atul Auto Ltd has remained stable at 42.73% as of March 2025, consistent with June 2024 figures. Notably, there is no promoter pledging in Atul Auto Ltd, indicating financial stability and confidence from its core management.
Atul Auto Limited stands as a significant and growing player in India's three-wheeler manufacturing sector. By effectively combining traditional automotive expertise with modern electric vehicle technology, the company offers a diversified product portfolio backed by strong manufacturing capabilities and an expanding market presence. These factors position Atul Auto well for continued growth in the evolving transportation landscape.
