Whalesbook
March Sales Show Thoda Rise, Par EV Ka Scene Thoda Alag Hai
Dekho, March 2026 mein Atul Auto ne total 3,404 units bechi hain, jo pichhle saal se bas 0.38% zyada hai. Electric Vehicle (EV) sales ne thoda boost diya hai, 699 units bechi, jo 2.34% zyada hai. Lekin yeh sirf ek mahine ka scene hai, bhai. Asal picture toh saal bhar (FY25-26) mein dikhti hai.
YTD Mein EV Ka Game Dhila Pad Gaya!
Saal bhar ki baat karein toh, company ki total domestic sales 6.98% badhi hai. Yeh growth mostly three-wheeler ICE gaadiyon ki wajah se hai (12.84% upar). Lekin jahaan humein EV mein growth chahiye, wahaan toh saal bhar mein 8.19% ki girawat aayi hai. Yeh toh electric future ke liye ek bada sawaal hai, yaar. Agar exports ko bhi mila dein, toh ICE gaadiyan 20.34% badhi hain, par EV phir bhi 8.50% neeche giri hain.
Valuation High Hai, Aur Competitors Toh Kafi Aage Hain
Is sabke beech, stock ₹414.55 tak pahunch gaya, intraday mein 8.64% upar. Yeh rally veteran investor Vijay Kedia ji ke 18.20% stake aur March ki update se mili hai. Company ki market cap ₹1,154.45 crore hai. Lekin valuation dekho, TTM P/E ratio 31.9x se 57.0x tak hai. ICRA bol raha hai ki commercial vehicle sector toh FY26 mein bas 3-5% grow karega. Jab hum competitors jaise Bajaj Auto aur TVS Motor ko dekhte hain, toh unka valuation isse compare mein theek hai ya zyada hai, aur unka EV game bhi bohot strong hai.
Competitors Ki EV Mein Badhiya Performance
Bajaj Auto aur TVS Motor toh EV mein dhamaka kar rahe hain. Unki sales mein EV ka share passenger three-wheeler segment mein 21.2% tak hai, aur kuch cases mein toh 50% se bhi zyada. Mahindra Last Mile Mobility toh practically poora EV par hai, 97% share ke saath. Atul Auto ka toh EV share passenger mein sirf 5.2% aur cargo mein 16.8% hai (November 2025 ka data). Matlab, market electric ho raha hai aur Atul Auto yahaan thoda peeche reh ja rahi hai.
Analysts Bhi Thode Hesitant Hain
Sabse badi baat yeh hai ki, 10 mein se 8 analysts is stock ko 'Strong Sell' ya 'Sell' bol rahe hain. Koi bhi 'Buy' rating nahi hai. Yeh sab cheezon ko dekh kar lagta hai ki company ko apne EV strategy par serious kaam karna hoga, kyunki abhi tak EV mein jitni ummeed thi, utna success nahi dikh raha. Company ka ROE bhi 4.99% ya 8.28% ke aas-paas hai.
Aage Ka Future EV Par Hi Tika Hai
Toh bhai, share toh aaj bhaga hai, par asal growth toh electric gaadiyon mein success se hi aayegi. Dekhna hoga Atul Auto kaise is race mein aage badhti hai aur apne EV sales ko kaise boost karti hai.