Atul Auto accelerates its fundraising plan

Atul Auto jumped 4.02% to Rs 207.15 after the company said its board would consider a fundraising on October 8, 2022.

The Atul Auto Board of Directors will meet on October 8, 2022 to consider the proposal to raise funds through a capital increase, a preferential issue including placement in qualified institutions or by any other means. authorized and/or a combination thereof deemed appropriate, by way of the issue of capital shares or any other eligible security. The proposal is subject to all required regulatory/statutory approvals, including approval by the shareholders of the company.

Atul offers a complete line of 3-wheeler products across the full fuel range – diesel, gasoline, CNG, LPG and electric.

On a consolidated basis, Atul Auto recorded a net loss of Rs 3.65 crore in Q1 June 2022 compared to a net loss of Rs 6.21 crore in Q1 June 2021. Net sales increased by 233.24% to Rs 104.57 crore in Q1 June 2022 compared to Q1 June 2021.

The company’s total three-wheeler sales jumped 20.15% year-on-year to 2,254 units in September 2022.

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