Atul Auto eyes 40% growth in sales in FY12

Three-wheeler major, Atul Auto Limited, is targeting to achieve 40 per cent growth in sale during current financial year. Company’s sales in third quarter grew by 49 per cent, the company officials informed.

"Despite worries like inflation, rising interest rates and input costs, Atul is confident of ending the financial year with a strong growth in vehicle sales. sales growth of 40 per cent on a year-on-year basis, which are almost on track despite the difficult situation," said Vijay Kedia, director of Atul Auto.

The BSE-listed company's sales for the period of third quarter ended December 2011, stood at 7,173 units as compared to 4,813 vehicles in the corresponding quarter last financial year. This shows 49 per cent growth in net sales.

Company's sale for the 9 month (April to December 2011) period was registered at 19,548 units against 13,475 units in corresponding 9 months (April to December 2010) in the last financial year.

Kedia said, "We are targeting to sale more than 26,000 three wheelers by the end of this financial year. Last year it was 19,000 units."

The company intends to double its production from 24,000 units to 48,000 units yearly by January 2012.