Atul Auto reported total three-wheeler sales of 4,012 units in August 2026, up 32.58% from 3,026 units in the same month last year.

Year-on-year sales performance

The following table captures the year-on-year comparison of Atul Auto's total sales for August:

The volume data reflects a year-on-year increase in total units sold during the month of August, indicating improved offtake compared to the corresponding period.

Segment-wise breakdown

Growth was driven primarily by internal combustion engine (ICE) vehicles. Total ICE sales (domestic plus export) reached 3,386 units, up 46.01% from 2,319 units in August 2025. In contrast, electric vehicle (EV) sales declined to 626 units, down 11.46% from 707 units in the prior year period.

Year-to-date performance

For the year-to-date (YTD) FY27 period, Atul Auto sold 17,690 units, a 39.57% increase from 12,675 units in the same period of FY26. YTD ICE sales grew 53.19% to 14,711 units, while EV sales saw a marginal decline of 3.03% to 2,979 units.

What the Numbers Show

The divergence between ICE and EV performance is notable. While ICE sales expanded by over 46% in August, EV sales contracted by 11.5%. This suggests that current demand growth is heavily concentrated in traditional engine variants, with EV adoption facing headwinds or seasonal variability in this specific reporting period.

Atul Auto has scheduled its 38th Annual General Meeting for September 18, 2026. The meeting will address ordinary business including financial statement adoption and special business involving director reappointments and strategic asset leasing.

The Board recommends a final dividend of ₹3.00 per equity share for FY26. Shareholders on record as of September 11, 2026 will be eligible for the payout.

Director Reappointments

Shareholders will vote on the reappointment of three directors:

• Neeraj J Chandra: Retiring by rotation as Director.
• Mahendra J Patel: Reappointed as Whole-time Director and CFO for three years from April 1, 2027 to March 31, 2030. His proposed remuneration is ₹52.8 lakh per annum, down from ₹66.11 lakh in FY25-26.
• Gurudeo Madhukar Yadwadkar: Reappointed as Independent Director for a second term until August 9, 2029.

Strategic Asset Leasing

The Company seeks approval to lease its manufacturing unit at Shapar (Veraval), Rajkot. The facility comprises approximately 13 acres with a written-down value of ₹6.02 crore as on March 31, 2026.

Management plans to consolidate manufacturing operations at the Ahmedabad facility, which has an installed capacity of 60,000 vehicles per annum. The Rajkot lease is expected to generate recurring revenue from an asset that would otherwise remain underutilized.

Related Party Transactions

Atul Auto seeks shareholder approval for material related-party transactions with Khushbu Auto, an authorized dealer in the Ahmedabad region. The proposed transaction limit is ₹120 crore for FY26-27.

Khushbu Auto is owned by promoter group members Chetankumar Patel (80%) and Hirenkumar Patel’s relatives (20%). Transactions with the dealer totaled ₹36.09 crore in the last financial year and ₹18.53 crore in the first quarter of FY26-27.

What the Numbers Show

The proposed ₹120 crore transaction limit with Khushbu Auto represents approximately 15% of Atul Auto’s annual consolidated turnover from the preceding financial year. This concentration highlights the dealer’s significant role in the Company’s distribution network within the Ahmedabad region.

Meeting Details

The AGM will be held via Video Conferencing/Other Audio Visual Means on September 18, 2026, at 3:30 pm. Remote e-voting begins on September 15, 2026, at 9:00 am and ends on September 17, 2026, at 5:00 pm.