Key Quantitative Figures

Standalone Financial Results (Quarter Ended June 30, 2026):

  • Three-wheelers sold: 9,878 units (vs 6,932 units in Q1 FY26)
  • Revenue from Operations: ₹20,693 lakh (₹206.93 crore)
  • Total Income: ₹20,920 lakh
  • Profit Before Tax: ₹902 lakh (₹9.02 crore)
  • Profit After Tax: ₹674 lakh (₹6.74 crore)
  • Basic & Diluted EPS: ₹2.43
  • Paid-up equity share capital: ₹1,388 lakh (Face Value ₹5 each)

Consolidated Financial Results (Quarter Ended June 30, 2026):

  • Three-wheelers sold: 9,878 units
  • Revenue from Operations: ₹21,843 lakh (₹218.43 crore)
  • Total Income: ₹21,973 lakh
  • Profit Before Tax: ₹1,077 lakh (₹10.77 crore)
  • Profit After Tax: ₹804 lakh (₹8.04 crore)
  • Basic & Diluted EPS: ₹2.86
  • Paid-up equity share capital: ₹1,388 lakh

Segment Information (Consolidated):

  • Automobiles Business Revenue: ₹20,663 lakh
  • Non-Banking Financial Business Revenue: ₹1,363 lakh
  • Automobiles Business Profit Before Tax: ₹882 lakh
  • Non-Banking Financial Business Profit Before Tax: ₹195 lakh

Dates of Action

  • Board Meeting: August 08, 2026 (11:46 IST to 13:12 IST)
  • Financial Results Period: Quarter ended June 30, 2026
  • Rajkot facility closure: On or before December 01, 2026

Parties Involved

  • Statutory Auditors: M/s. Maharishi & Co. (ICAI Firm Registration No. 124872W)
  • Subsidiaries included in consolidation: Atul Green Automotive Private Limited (100%), Atul Greentech Private Limited (79.39%), Atulease Private Limited (80%), Khushbu Auto Finance Limited (100%)

Board Decisions

1. Financial Results Approval

The Board considered and approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

2. Director Reappointments

  • Mr. Mahendra J. Patel (DIN: 00057735): Reappointed as Whole-time Director & Chief Financial Officer for three years from April 1, 2027 to March 31, 2030, liable to retire by rotation, subject to shareholder approval.
  • Mr. Gurudeo Madhukar Yadwadkar (DIN: 01432796): Reappointed as Independent Director for second consecutive term of three years from August 11, 2026 to August 10, 2029, not liable to retire by rotation, subject to shareholder approval.

3. Manufacturing Operations Consolidation

The Board approved closure of existing manufacturing operations for three-wheeler vehicles and spares located at Shapar (Veraval), Dist. Rajkot. The Ahmedabad facility (capacity: 60,000 vehicles per annum) will handle all manufacturing operations.

4. Property Lease Approval

The Board approved leasing the Company's manufacturing unit (Land + Building) at Shapar (Veraval), Rajkot (approximately 13 acres) subject to shareholder approval at ensuing Annual General Meeting.

Operational Impact

Rajkot Facility Closure:

  • During FY 2025-26, Rajkot facility manufactured parts aggregating to ₹4,834 lakhs, entirely captively consumed
  • No independent turnover or revenue generated from Rajkot facility
  • Written down value of Rajkot facility assets (Land + Building): ₹601 lakh approx. (1.28% of total Net Worth)
  • Expected benefits: Improved operational efficiency, optimum utilization of manpower, reduced fixed overheads, lower operating and administrative costs

Financial Restatement:

Figures for quarter ended June 30, 2025 stand restated pursuant to Appendix C to Ind AS 103, consequent to slump sale acquisition of "EV L5 Division" from Atul Greentech Private Limited with effect from January 15, 2026.

Capital Structure Impact

No immediate impact on share capital. The paid-up equity share capital remains unchanged at ₹1,388 lakh.

Cash Flow Implications

  • Lease of Rajkot facility expected to generate steady recurring cash flows
  • Operational consolidation expected to reduce operating and administrative costs
  • Financial impact not quantified in the disclosure

Auditor Review

Maharishi & Co., Chartered Accountants, issued limited review reports on both standalone and consolidated financial results, stating nothing came to their attention causing them to believe the statements contain any material misstatement.