Atul Auto Limited has announced the immediate resignation of Independent Director Shri Ramesh Chandra Maheshwari, effective December 31, 2025. The resignation was communicated through an email dated December 31, 2025, and disclosed to stock exchanges under Regulation 30 of SEBI Listing Regulations.

Director Details and Resignation

Shri Ramesh Chandra Maheshwari, holding Director Identification Number (DIN) 09343538, submitted his resignation citing personal reasons and other professional commitments. The resignation takes effect from the closing of business hours on December 31, 2025.

Committee Impact

Consequent to his resignation as Independent Director, Maheshwari will also cease to be the Chairperson of the Nomination and Remuneration Committee of Atul Auto Limited. This dual departure will require the company to make necessary arrangements for committee leadership and board composition.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations, providing comprehensive details as required under Schedule III of the Listing Regulations. Key compliance aspects include:

• Email communication attached as supporting documentation
• Confirmation of no material reasons beyond those stated
• Verification that the resigning director holds no directorships in other listed entities
• Proper notification to BSE Limited and National Stock Exchange of India

Director's Confirmation

In his resignation email, Maheshwari confirmed that no material reasons exist for his resignation other than the personal and professional factors mentioned. He expressed gratitude to the Board, management team, and fellow Directors for their trust and support during his tenure. The director acknowledged the privilege of being associated with Atul Auto Limited and contributing to the company's journey.

Company Response

Atul Auto Limited, through Company Secretary and Compliance Officer Paras J Viramgama, has processed the resignation and initiated requisite statutory filings. The company maintains its registered office and factory at National Highway 8-B, Near Microwave Tower, Shapar (Veraval), Rajkot – 360024, Gujarat, and operates under Corporate Identification Number L54100GJ1986PLC016999.

Atul Auto Limited , a leading manufacturer of commercial three-wheelers, has reported strong financial results for the second quarter, leading to a 14% surge in its share price.

Key Financial Highlights

• Consolidated Net Profit: Atul Auto's consolidated net profit for Q2 rose to ₹9.20 crore, marking a 70% increase from ₹5.40 crore in the same quarter last year.
• Revenue: Total revenue from operations grew 10% to ₹200.00 crore, up from ₹182.00 crore in the previous year.
• Sequential Growth: On a quarter-over-quarter basis, profit after tax increased by 210% from ₹2.90 crore, while revenue jumped 31% from ₹153.00 crore.
• Sales Volume: The company sold 9,248 units during the quarter, up from 6,929 units in the previous quarter and 8,850 units in the year-ago period.

Financial Performance Table

Market Position and Outlook

Atul Auto's performance in Q2 demonstrates its market presence in the three-wheeler segment. The improvement in consolidated profit and sales volume suggests strengths in the company's operations and market demand.

Investor Interest

Investor Vijay Kedia holds a 21% stake in Atul Auto, valued at ₹286.00 crore, making it his largest portfolio holding.

Manufacturing Capacity

The company operates manufacturing facilities in Gujarat with an annual production capacity of 1,20,000 vehicles.

Stock Performance

Despite the recent 14% surge following the Q2 results, Atul Auto's shares remain below their 50-day and 200-day moving averages. The stock has declined 17% over the past year.

Note: All financial figures are in Indian Rupees (INR).