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Accumulate Atul Auto; target of Rs 396: Dolat Capital

Dolat Capital recommended accumulate rating on Atul Auto with a target price of Rs 396 in its research report dated November 05, 2018.

November 12, 2018 / 04:33 PM IST
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Dolat Capital's research report on Atul Auto

Atul Auto (ATA) top line growth was in-line with our estimates at ` 1,765 mn but margins were lower due to higher other expenditure. ATA reported volume growth of 9.5% at 12,224 units which were largely driven by higher exports. Domestic volumes grew by 4.4% YoY whereas the exports reported a growth of 76% YoY in Q2FY19. ATA also declared an interim dividend of ` 2.75.


Further price increase and better operating mix will be the key thing to watch going forward. Underperformance to the industry weighs down on valuations. Maintain Accumulate with a target price of ` 396.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Nov 12, 2018 04:33 pm

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