Atul Auto - Continue To Expect Recovery In FY22: Anand Rathi
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Anand Rathi Report
We expect strong growth in FY22 for Atul Auto Ltd., driven by new and expected product launches and its versatility of products across the three-wheeler platform.
We expect strong growth to come as lockdowns are easing gradually.
The company recently launched a CNG passenger three-wheeler, which we believe will aid volumes in FY22.
On the electric front, it plans to launch an electric three-wheeler by October 2021; we expect that to contribute to growth in FY22 and FY23.
Demand for cargo three-wheeler vehicles are also expected to grow, supported by demand from e-commerce, fast moving consumer goods and pharma.
Also, the company’s new plant at Ahmedabad is ready for future growth.
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