The company is likely to introduce 350 KG capacity gasoline three-wheeler in 2014 which can be used with alternate fuel options as well like CNG, LPG and with that hopes to cater urban as well as export market.
Below is the verbatim transcript of Jitendra Adhia's interview on CNBC-TV18
Q: You have delivered 18.5 percent growth from April to December by way of your sales numbers. Is that sustainable, what are you hoping to end FY14 with?
A: Yes, we expect that we will be able to sustain this growth rate for the current year and we expect this growth momentum will continue for medium term with Atul Auto Ltd.
Q: Given that you are expecting the growth to continue with quite a bit of vigor, with regards to your new production, you had planned 50,000 capacity at an investment of Rs 100 crore, take us through this?
A: The project is currently under evaluation, we are evaluating various options and are likely to surface this project in another quarter or two quarters time. With the current plant capacity, it will get exhausted in another year or so. So, we have to make capacity additions and that is why we have started evaluating the new green field plant.
Q: If you are going in for any kind of capacity addition then what would the funding requirement be and how do you plan on bridging that gap?
A: At the moment, the structuring of funding can be through internal accrual. The company is currently enjoying debt-free status and so, there is enough room for conventional route as well. But we expect that we will be able to get it through our internal accrual and surplus which the company is having right now.
Q: Currently, what do the exports stand at and any plans to increase them?
A: The product that we are having currently is not suitable for overseas market. We are developing the product which is suitable for our export market and expect that company will be able to go in a big way from next fiscal for this overseas market. At the moment, the product that we are manufacturing is suitable for our domestic market only.
Q: Is the company planning to introduce a new model in 2014, if yes, how many, which ones?
A: We are likely to introduce 350 KG capacity gasoline three-wheeler which can be used with alternate fuel options as well like CNG, LPG. With that we will be able to cater urban market as well as export market.
Q: Can you plug in some numbers with regards to the new launches you are looking at?
A: It is premature to disclose the numbers. However, we want to maintain the growth momentum of 20-25 percent year-on-year.
Atul Auto stock price
On January 01, 2014, Atul Auto closed at Rs 303.05, up Rs 11.70, or 4.02 percent. The 52-week high of the share was Rs 314.00 and the 52-week low was Rs 139.90.
The company's trailing 12-month (TTM) EPS was at Rs 24.32 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 12.46. The latest book value of the company is Rs 65.72 per share. At current value, the price-to-book value of the company is 4.61.
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