Atul Auto logo

Atul Auto MD, chairman, board of directors and AGM

NSE: ATULAUTOBSE: 531795Agricultural, Commercial & Construction VehiclesSmall Cap

Last close ₹387.70down ₹12.90 (3.22%)BSE ₹387.45

Share price at the NSE close on 23 Oct 2026. Previous close ₹400.60.

52-week range of traded prices to 23 Oct 2026
₹380.00Low, 23 Oct 2026₹596.55High, 5 Aug 2026
Market cap
₹1,076 Cr1,366th largest listed
P/E
22.8
P/B
2.2
Dividend yield
0.77%
ROE
10.2%
ROCE
11.4%
Debt to equity
0.29
Volume, NSE
1,31,57452.6% delivered

Atul Auto board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorNEERAJ JENTIBHAI CHANDRARelated to the promoter

6 directors3 independent2 executive1 non-executive

  • NEERAJ JENTIBHAI CHANDRA · Chairperson and managing directorExecutive · joined Mar 2012 · reappointed Jun 2023 · 1 listed board · 1 committee seat
  • MAHENDRA JAMNADAS PATELExecutive · joined Nov 1994 · reappointed Apr 2022 · 1 listed board
  • VIJAY KISHANLAL KEDIANon-executive · joined Jan 2009 · reappointed Jan 2009 · 1 listed board · 1 committee seat
  • GURUDEO MADHUKAR YADWADKARIndependent · joined Aug 2023 · reappointed Aug 2023 · 34 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • HONEY SETHIIndependent · joined Aug 2024 · reappointed Aug 2024 · 22 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • KAMALKISHORE C VORAIndependent · joined Mar 2026 · reappointed Mar 2026 · 3 months as independent · 1 listed board · 1 as independent

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

4 directors who left
  • RAMESH CHANDRA MAHESHWARI, left 31 Dec 2025: Others
  • SWAMINATHAN JAICHANDER, left 24 Aug 2025: Tenure Completion
  • MOHAN JIT WALIA, left 8 Aug 2025: Tenure Completion
  • AARTI JEETENDRA JUNEJA, left 8 Feb 2025: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 16 May 20266 of 6 present3 independent · 62 days in between
    • 14 Mar 20265 of 5 present2 independent · 34 days in between
    • 7 Feb 20265 of 5 present2 independent · 22 days in between
    • 15 Jan 20263 of 5 present2 independent

  • Audit Committee

    Chair HONEY SETHI

    GURUDEO MADHUKAR YADWADKAR, NEERAJ JENTIBHAI CHANDRA

    • 16 May 20263 of 3 present2 independent · 97 days in between
    • 7 Feb 20263 of 3 present2 independent · 22 days in between
    • 15 Jan 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair KAMALKISHORE C VORA

    HONEY SETHI, GURUDEO MADHUKAR YADWADKAR

    • 16 May 20263 of 3 present3 independent · 62 days in between
    • 14 Mar 20263 of 3 present2 independent · 41 days in between
    • 31 Jan 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair GURUDEO MADHUKAR YADWADKAR

    HONEY SETHI, VIJAY KISHANLAL KEDIA

    No meeting listed in the filing.

  • Risk Management Committee

    Chair MAHENDRA JAMNADAS PATEL

    NEERAJ JENTIBHAI CHANDRA, HIREN VASANTBHAI PATEL, GURUDEO MADHUKAR YADWADKAR

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

  • Maharishi & Co.Peer-review certificate valid to May 2028
2 earlier auditors
  • M/s Maharishi & CoNamed in the filing for the quarter to Sep 2025
  • MAHARISHI AND CO.Named in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Atul Auto AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Atul Auto dividend history

Annual general meeting, 18 Sep 2026

59,344 shareholders on the register on 11 Sep 2026; present: 22 promoters and 19 others; votes counted by HARDIK HUDDA / HARDIK HUDDA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Consideration and adoption of the audited standalone financial statements of the Company for the financial year ended March 31, 2026 together with Board's Report thereon and Auditors' Reports thereto.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 55.84% · promoters 81.08% · institutions 1.02% · other public 37.63%

  2. Consideration and adoption of the audited consolidated financial statements of the Company for the financial year ended March 31, 2026 and Auditors' Reports thereto
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 55.84% · promoters 81.08% · institutions 1.02% · other public 37.63%

  3. To declare a final dividend on equity shares for financial year 2025-26
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 55.84% · promoters 81.08% · institutions 1.02% · other public 37.63%

  4. Re-appointment of Shri Neeraj J Chandra (DIN: 00065159) as a Director liable to retire by rotation
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 55.84% · promoters 81.08% · institutions 1.02% · other public 37.63%

  5. Re-appointment of Shri Mahendra J Patel (DIN: 00057735) as Whole-Time Director and Chief Financial Officer of the Company
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 54.12% · promoters 77.04% · institutions 1.02% · other public 37.63%

  6. Re-appointment of Shri Gurudeo Madhukar Yadwadkar (DIN: 01432796) as Independent Director
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 55.84% · promoters 81.08% · institutions 1.02% · other public 37.63%

  7. To lease the Company’s manufacturing unit (Land + Building) situated at Shapar (Veraval), Rajkot
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 8.57% · other public 0.01%

    Turnout: all 55.84% · promoters 81.08% · institutions 1.02% · other public 37.63%

  8. To approve the Material Related Party Transaction(s) of the Company with Khushbu Auto, a related party of the Company
    OrdinaryPromoters have an interest in it
    99.63% for0.37% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.38%

    Turnout: all 0.32% · promoters 0.00% · institutions 1.02% · other public 0.55%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 17 Apr 2026, 1 resolution

60,038 shareholders on the register on 14 Mar 2026; votes counted by HARDIK HUDDA / HARDIK HUDDA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. APPOINTMENT OF DR. KAMALKISHORE C. VORA (DIN: 11166460) AS AN INDEPENDENT DIRECTOR
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.62%

    Turnout: all 36.02% · promoters 84.22% · institutions 0.00% · other public 0.11%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 19 Sep 2025, 7 resolutions

63,360 shareholders on the register on 12 Sep 2025; present: 24 promoters and 25 others; votes counted by HARDIK HUDDA / HARDIK HUDDA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Consideration and adoption of the audited standalone financial statements of the Company for the financial year ended March 31, 2025 together with Board's Report thereon and Auditors' Reports thereto.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 59.34% · promoters 86.45% · institutions 1.67% · other public 39.49%

  2. Consideration and adoption of the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and Auditors' Reports thereto.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 59.34% · promoters 86.45% · institutions 1.67% · other public 39.49%

  3. Re-appointment of Shri Mahendra J Patel (DIN: 00057735) as a Director retire by rotation.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 58.05% · promoters 83.45% · institutions 1.67% · other public 39.49%

  4. Appointment of M/s. Hardik Hudda & Associates, Practicing Company Secretary as Secretarial Auditor of the Company.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 62.94% · promoters 94.89% · institutions 1.67% · other public 39.49%

  5. Approval of Material Related Party Transaction(s) of the Company with Khushbu Auto Private Limited, a related party of the Company in respect of sale/ supply of vehicles etc.
    OrdinaryPromoters have an interest in it
    99.57% for0.43% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 1.49% · promoters 0.00% · institutions 1.67% · other public 2.61%

  6. Approval of Material Related Party Transaction(s) of the Company with Atul Greentech Private Limited, a related party of the Company in respect of sale/ supply of vehicles etc.
    OrdinaryPromoters have an interest in it
    99.57% for0.43% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 1.49% · promoters 0.00% · institutions 1.67% · other public 2.61%

  7. Approval of Material Related Party Transaction(s) of the Company with Atul Greentech Private Limited, a related party of the Company in respect of guarantee, inter-corporate deposit etc.
    SpecialPromoters have an interest in it
    99.57% for0.43% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.43%

    Turnout: all 1.49% · promoters 0.00% · institutions 1.67% · other public 2.61%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 26 Sep 2024, 5 resolutions

Present: 18 promoters and 28 others.The company's voting result (opens in a new tab)

  1. Consideration and adoption of the audited standalone financial statements of the Company for the financial year ended March 31, 2024 together with Board's Report thereon and Auditors' Reports thereto.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 48.00% · promoters 66.80% · institutions 34.85% · other public 33.96%

  2. Consideration and adoption of the audited consolidated financial statements of the Company for the financial year ended March 31, 2024 and Auditors' Reports thereto.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 48.00% · promoters 66.80% · institutions 34.85% · other public 33.96%

  3. Re-appointment of Shri Vijay Kishanlal Kedia (DIN: 00230480) as a Director retire by rotation.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 48.00% · promoters 66.80% · institutions 34.85% · other public 33.96%

  4. Appointment of Shri Ramesh Chandra Maheshwari (DIN: 09343538) as an Independent Director.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 48.00% · promoters 66.80% · institutions 34.85% · other public 33.96%

  5. Appointment of Smt. Honey Sethi (DIN: 10721537) as an Independent Director.
    Special
    100.00% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 48.00% · promoters 66.80% · institutions 34.85% · other public 33.96%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 30 Sep 2023, 6 resolutions

Present: 23 promoters and 36 others.The company's voting result (opens in a new tab)

  1. Consideration and adoption of the audited standalone financial statements of the Company for the financial year ended March 31, 2023 together with Board's Report thereon and Auditors' Reports thereto.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 38.88% · promoters 82.21% · institutions 31.51% · other public 6.20%

  2. Consideration and adoption of the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 and Auditors' Reports thereto.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 38.88% · promoters 82.21% · institutions 31.51% · other public 6.20%

  3. Re-appointment of Shri Jayantibhai J Chandra (DIN: 00057722) as a Director retire by rotation.
    OrdinaryPromoters have an interest in it
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.23%

    Turnout: all 11.10% · promoters 17.19% · institutions 31.51% · other public 6.20%

  4. Appointment of Shri Gurudeo Madhukar Yadwadkar (DIN: 01432796) as Independent Director
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 38.88% · promoters 82.21% · institutions 31.51% · other public 6.20%

  5. To approve material related party transaction(s) with Khushbu Auto Private Limited for sale/ supply of goods and rendering of services
    OrdinaryPromoters have an interest in it
    93.34% for6.66% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.03%

    Turnout: all 3.75% · promoters 0.00% · institutions 31.51% · other public 6.20%

  6. To approve material related party transaction(s) by Atul Greentech Private Limited with Khushbu Auto Private Limited for sale/ supply of goods and rendering of services
    OrdinaryPromoters have an interest in it
    93.34% for6.66% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.03%

    Turnout: all 3.75% · promoters 0.00% · institutions 31.51% · other public 6.20%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 19 Aug 2023, 2 resolutions

The company's voting result (opens in a new tab)

  1. APPOINTMENT OF SHRI JAYANTIBHAI J CHANDRA (DIN: 00057722) AS CHAIRMAN AND WHOLE-TIME DIRECTOR
    SpecialPromoters have an interest in it
    92.09% for7.91% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.87%

    Turnout: all 2.93% · promoters 0.00% · institutions 51.00% · other public 4.48%

  2. APPOINTMENT OF SHRI NEERAJ J CHANDRA (DIN: 00065159) AS MANAGING DIRECTOR
    SpecialPromoters have an interest in it
    92.08% for7.92% against

    Against: promoters 0.00% · institutions 0.00% · other public 9.89%

    Turnout: all 2.93% · promoters 0.00% · institutions 51.00% · other public 4.48%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 22 Apr 2023, 2 resolutions

The company's voting result (opens in a new tab)

  1. TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) WITH ATUL GREENTECH PRIVATE LIMITED TO PROVIDE/ EXTEND GUARANTEE TO LENDING BANKS/ FINANCIAL INSTITUTIONS
    OrdinaryPromoters have an interest in it
    87.27% for12.73% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.50%

    Turnout: all 2.02% · promoters 0.00% · institutions 42.30% · other public 2.69%

  2. TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) WITH ATUL GREENTECH PRIVATE LIMITED FOR SALE/ SUPPLY OF GOODS AND RENDERING OF SERVICES INCLUDING JOBWORK
    OrdinaryPromoters have an interest in it
    87.26% for12.74% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.50%

    Turnout: all 2.02% · promoters 0.00% · institutions 42.30% · other public 2.69%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 5 Nov 2022, 2 resolutions

Present: 24 promoters and 20 others.The company's voting result (opens in a new tab)

  1. To consider and approve the alteration of Articles of Association of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.26%

    Turnout: all 46.17% · promoters 85.58% · institutions 0.00% · other public 2.33%

  2. To issue fully convertible warrants on a preferential issue basis
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 46.17% · promoters 85.58% · institutions 0.00% · other public 2.33%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 26 Sep 2024, 1 fund house

  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    1 for0 against
  • Item 5, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 30 Sep 2023, 1 fund house

  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundAtul Greentech Private Limited (AGPL) is an 80% subsidiary with 19.87% of the balance being held by Vijay Kedia, an investor. AGPL was incorporated in 2020 with an objective of manufacturing battery packs, battery management system, battery charger, tools, equipment, fittings, raw material etc. for the purpose of electric vehicles of Atul Auto Limited and various other applications and electric motor vehicles. Further, AGPL has now entered into manufacturing, assembling and selling electric three-wheelers in addition to electric vehicles spares and parts. The company is seeking shareholder approval for transactions between AGPL, a subsidiary and KAPL, a promoter entity for sale/ supply of vehicles/ chassis/ spares/ engines/ services/ payment of incentives, commission, warranty, sales promotion etc. While we note that these transactions are operational in nature, we are unable to support them as there is no disclosure on KAPL’s size and performance. Further, it is unclear if KAPL has any material customers other than Atul Auto Limited and its subsidiaries. We raise concerns over the structure of the business relationship – we do not support transactions with promoter-controlled entities that may have business adjacencies with the listed company or its subsidiaries. We do not support the resolution.
    0 for1 against
  • Item 5, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundKhushbu Auto Private Limited (KAPL) has acted as a dealer of the company’s products for over three decades. KAPL has a marketing reach in various locations in Gujarat with over 15 sub-dealers. In the past, KAPL’s share in total sales of Atul Auto has ranged from 7%-10% of annual revenue of the company. Considering the quantum of transactions with KAPL during the previous years, the business projections for coming years and the market/ industry trend, the company expects that the aggregate value of transactions with KAPL would be in the range of Rs. 500.0 mn – Rs. 800.0 mn in FY24. While we note that these transactions are operational in nature, we are unable to support them as there is no disclosure on KAPL’s size and performance. Further, it is unclear if KAPL has any material customers other than Atul Auto Limited and its subsidiaries. We raise concerns over the structure of the business relationship – we do not support transactions with promoter-controlled entities that may have business adjacencies with the listed company. We do not support the resolution.
    0 for1 against
  • Item 6, as a fund house numbered it
    1 for0 against
2 earlier meetings

Mutual fund votes, meeting of 19 Aug 2023, 1 fund house

  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 22 Apr 2023, 1 fund house

  • TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) WITH ATUL GREENTECH PRIVATE LIMITED TO PROVIDE/ EXTEND GUARANTEE TO LENDING BANKS/ FINANCIAL INSTITUTIONS
    1 for0 against
  • TO APPROVE MATERIAL RELATED PARTY TRANSACTION(S) WITH ATUL GREENTECH PRIVATE LIMITED FOR SALE/ SUPPLY OF GOODS AND RENDERING OF SERVICES INCLUDING JOBWORK
    1 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
No
The company has a risk management committee
Yes
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.