*AHMEDABAD: *Atul Auto Ltd (BOM:531795) has registered a phenomenon financial performance for the financial year 2009-10 with company’s net profits zooming up by around 1000% from Rs.46 lakh to Rs.4.54 crore for the period.
The company issued a statement on Monday describing the financial results for the fiscal 2010. Company’s domestic sales also increased 77 % this year. The company board of directors has recommended, subject to approval of Members at the ensuing annual general meeting, final dividend at Rs.2 per share compared to 50 paise last year. “We’re thrilled with the growth of our business, and especially that over 77% domestic sales growth. This is the smoothest and most successful transition that any of us have ever experienced,” said Vijay Kedia, Director of the company In addition, he maintained that there is an excellent opportunity to SMEs and large industries in India, so there is huge potential for 3 wheelers market especially in the semi-urban and rural markets. He further added that the company has invested Rs.30 crore in technology, plant and machinery in addition to the existing facility. The new facility of manufacturing such as BIW for fabrication of Chassis with cabin has been installed for Atul GEM. Atul Auto is confident that Atul GEM will certainly make its mark in the Rear Engine Three wheeler segment in India, the company statement said on Monday. Company stocks witnessed a whopping rise to the tune of 10% at Rs.61.60 on the Bombay Stock Exchange (BSE) on Monday. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
