Atul Auto
Atul Auto Limited is an Indian three-wheeler vehicle manufacturer (ICE and electric) serving urban, semi-urban, and rural commuters as well as commercial fleet operators in last-mile delivery, distributing through 400+ dealer touch-points across India.
- Company typePublic
- Founded1970
- HeadquartersRajkot, India
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What Atul Auto does
Atul Auto Limited is a publicly listed Indian three-wheeler vehicle manufacturer headquartered in Rajkot, Gujarat, founded in 1970 and operating two manufacturing plants in Gujarat. The company designs, manufactures, and sells passenger auto-rickshaws and cargo three-wheelers across internal combustion engine (diesel, CNG, petrol) and electric powertrains, marketed under sub-brands including ATUL Rik, ATUL Gem, ATUL Elite, ATUL Shakti, and ATUL-E (Energie², Rik Twin). It serves urban, semi-urban, and rural commuters, as well as commercial fleet operators in last-mile delivery, e-commerce logistics, and goods transport, distributing through 400+ dealer touch-points across India with a growing export presence.
The company's revenue model is primarily unit sales of vehicles (one-time) with a smaller NBFC financing segment that recurs. Reported FY26 revenue was Rs 824.39 crore (up 14.07% YoY) and net profit was Rs 42.26 crore (up 95.37% YoY), with Q4 FY26 net profit rising 106.85% YoY to Rs 14.79 crore. EV three-wheelers are priced at Rs 3.27 lakh per unit excluding GST and are now integrated with Exponent Energy's 15-minute rapid-charging OTO platform, with a 2 lakh km battery warranty. In January 2026, Atul Auto consolidated its EV operations by acquiring subsidiary Atul Greentech Private Limited's L5 Electric Three-Wheeler business for Rs 35.26 crore via slump sale, bringing battery, BMS, charger, and telematics capabilities in-house.
The most significant recent strategic action is the April 2026 MoU with Exponent Energy to manufacture and supply 15,000 rapid-charging electric three-wheelers over three years, valued at Rs 490.50 crore. The deal also brings Exponent One embedded financing with buyback options and insurance, positioning Atul Auto to expand from a hardware OEM into a vehicle-plus-financing-plus-charging ecosystem for commercial fleet operators. May 2026 monthly sales of 3,236 units (up 29.3% YoY) and a 31.1% rise in ICE sales indicate a broad-based demand recovery, while the EV partnership provides the next leg of growth.
Atul Auto firmographics
Firmographics- Name
- Atul Auto
- Legal name
- ATUL AUTO LIMITED
- Website
- https://atulauto.co.in
- Company type
- Public
- Founded year
- 1970
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Atul Auto Limited is an Indian three-wheeler vehicle manufacturer (ICE and electric) serving urban, semi-urban, and rural commuters as well as commercial fleet operators in last-mile delivery, distributing through 400+ dealer touch-points across India.
- Ownership category
- akta.pro rank
Atul Auto industry classification
Industry- Product category
- Three-Wheeler Vehicles
- SIC
- Motorcycles, Bicycles & Parts (3751)
- akta.pro primary industry
- Scooter & Moped Manufacturing (ICE) (IMACAEAC)
- akta.pro secondary industry
- Electric Motorcycles & Electric Scooters Manufacturing (IMACAEAB)
Keywords
Where Atul Auto is headquartered
LocationHeadquarters
- HQ city
- Rajkot
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Atul Auto business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Three-Wheeler Vehicle Sales: Manufacturing and sales of three-wheeled vehicles including passenger auto-rickshaws and cargo carriers, with both ICE (diesel, CNG) and electric variants. Revenue from automobiles segment grew 13.71% to Rs 229.44 crore in Q4 FY26.
- Electric Vehicle Sales: Sales of L5 electric three-wheelers including passenger and cargo variants, with recent partnership with Exponent Energy for rapid-charging EVs valued at Rs 490.50 crore over three years.
- NBFC Operations: Non-banking financial business segment providing financing solutions, though this segment declined 12.34% to Rs 12.14 crore in Q3 FY26.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | ATUL GEMini+ CNG auto-rickshaw with 50 km/kg mileage |
| Unit Pricing | Pay-as-you-go | ATUL GEM Aqua Paxx CNG Double Cylinder with 315 km range |
| Unit Pricing | Pay-as-you-go | ATUL GEM Cargo CNG for commercial delivery |
| Unit Pricing | Pay-as-you-go | Exponent Energy integrated electric three-wheelers |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels3 records
Atul Auto product offering
Product offeringCore offering
Atul Auto manufactures and sells three-wheeled vehicles for passenger (auto-rickshaw) and cargo applications through its own brand portfolio including ATUL Rik, ATUL Gem, ATUL Elite, ATUL Shakti, ATUL Gemini+, and ATUL-E electric variants. The company produces both internal combustion engine models in petrol, diesel, and CNG variants and electric three-wheelers, including rapid-charging EVs developed in partnership with Exponent Energy. Vehicles are distributed through a PAN India dealership network of 400+ touch-points.
Product overview
Atul Auto is a three-wheeler manufacturer producing both internal combustion engine (ICE) and electric vehicle (EV) three-wheelers. The product portfolio spans passenger auto-rickshaws (Rik, Gem, Elite, Gemini+) and cargo three-wheelers (Gem Cargo), available in petrol, diesel, and CNG variants for ICE vehicles, and electric variants (Energie², Rik Twin) featuring rapid charging technology. The company operates from Rajkot, Gujarat with 50+ years of experience, over 1 million vehicles on roads, 15+ models, and 400+ touch-points across India.
Differentiator
Problem solved
Functional benefit
Brands
- ATUL Rik: Three-wheeler passenger vehicle available in diesel, CNG variants
- ATUL Gem
- ATUL-E
- ATUL Elite
- ATUL Shakti
- ATUL Gemini+
Products and services
- ATUL Rik Passenger three-wheeler auto-rickshaw available in petrol and CNG variants, designed for urban and semi-urban transportation and personal passenger mobility.
- ATUL Rik Plus Enhanced passenger auto-rickshaw with improved features and CNG compatibility, designed for urban and semi-urban passenger transport operators.
- ATUL Gem Paxx Diesel Passenger three-wheeler with diesel engine offering spacious seating and comfortable urban transport for individual owner-operators and fleet buyers.
- ATUL Gem Paxx Aqua CNG (Double Cylinder) CNG-powered passenger auto with double cylinder configuration providing extended driving range up to 315 km and a 395cc powerful engine for premium urban passenger service.
- ATUL Gem Cargo Aqua CNG CNG-powered cargo three-wheeler with a 6-feet deck for last-mile commercial delivery and goods transport operations, designed for fleet operators and small businesses.
- ATUL Gem Cargo Diesel Three-wheeler cargo vehicle with diesel engine for last-mile delivery, commercial logistics, and goods transportation with high load capacity.
- ATUL Energie² Electric passenger three-wheeler with rapid charging capability designed for urban commercial transport and eco-friendly passenger mobility.
- ATUL Rik Twin (Rapid-Charging EV) Electric three-wheeler integrated with Exponent Energy's OTO mobility platform enabling full charge in 15 minutes, backed by battery warranty covering up to 2 lakh kilometres for commercial fleet operations.
- ATUL Elite Paxx Passenger three-wheeler with enhanced comfort features designed for urban commute and premium passenger transport service.
- ATUL Elite Cargo Cargo variant of the Elite series designed for commercial delivery and logistics with enhanced features for goods transport.
- ATUL Shakti Three-wheeler commercial vehicle with a robust build designed for heavy-duty commercial operations and goods transport.
- ATUL Gemini+ CNG CNG-powered passenger auto-rickshaw with 50 km/kg mileage, tubeless tires, 36-month warranty, and design optimized for city driving and narrow lanes.
Quantifiable outcome
- 29.3% year-on-year sales increase to 3,236 units in May 2026
- +2 more outcomes
Companies that use Atul Auto
Customer profileSegments3 records
Ideal customer profiles3 records
Atul Auto technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Atul Auto partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Exponent EnergycoreStrategic partnership to develop and deploy rapid charging electric three-wheelers combining Atul Auto's manufacturing capabilities with Exponent Energy's 15-minute charging technology. Commitment to deploy at least 15,000 vehicles over three years with a contract value of Rs 490.50 crore. Vehicles will feature Exponent's OTO mobility platform with battery warranty up to 2 lakh km. Exponent One financing platform provides financial support including embedded insurance and structured buyback options.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Atul Auto competitors and assessment
Company assessmentEmerging players
- Hero Electric: India's largest electric two-wheeler OEM increasingly extending into adjacent electric mobility categories including three-wheelers. Emerging competitive overlap with Atul's ATUL-E line.
- Kinetic Green: Pune-based manufacturer of electric three-wheelers (Kinetic Safar, Super DX) targeting passenger and cargo markets; competes in the same EV three-wheeler segment as Atul-E.
- Omega Seiki Mobility: EV-focused three-wheeler OEM offering Stream, Muse, and Ferly brands with partnerships across charging and battery ecosystems. Overlaps with Atul Auto in cargo and passenger electric three-wheeler segments.
- Gayam Motor Works (iGowise): EV three-wheeler OEM targeting logistics fleets with leasing-enabled commercial solutions. Comparable to Atul's commercial EV three-wheeler push and partnership-driven go-to-market.
- Euler Motors: India-focused EV three-wheeler startup (HiLoad) targeting commercial logistics with fleet-focused solutions. Comparable to Atul's growing EV three-wheeler portfolio and partnership-driven rapid-charging strategy.
Direct peers
- Mahindra Last Mile Mobility: Mahindra Group's three-wheeler arm offering Treo, e-Alfa, and Jeeto brands spanning electric and ICE last-mile mobility — directly competes with Atul Auto in passenger and commercial three-wheeler segments.
- TVS Motor Company: Indian two- and three-wheeler OEM with a TVS King three-wheeler line and growing EV play. Competes with Atul Auto for passenger auto-rickshaw and last-mile commercial volumes.
- Bajaj Auto: India's largest three-wheeler manufacturer offering both ICE (CNG/petrol/diesel) and electric three-wheelers (Bajaj RE). Direct competitor to Atul Auto across passenger and cargo segments with substantially larger scale.
- Piaggio Vehicles: Indian subsidiary of Piaggio & C SpA manufacturing the Ape series of three-wheelers in passenger and cargo variants across ICE and EV — directly comparable product portfolio and target market.
Broad incumbents
- Greaves Cotton: Diversified Indian automotive and engineering group with a three-wheeler/dealer network heritage and recent EV play via Greaves Electric Mobility (Ampere). Broad incumbent with comparable channel exposure.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Atul Auto social profiles
Digital presenceAtul Auto financial estimates
Financial estimateRevenue estimate
Valuation estimate
Atul Auto leadership team
Management profileNumber of profiles
Profiles2 records
Atul Auto subsidiaries and ownership
Company hierarchySubsidiaries1 record
Atul Auto funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Atul Auto M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Atul Auto
What does Atul Auto do?
Atul Auto manufactures and sells three-wheeled vehicles for passenger (auto-rickshaw) and cargo applications through its own brand portfolio including ATUL Rik, ATUL Gem, ATUL Elite, ATUL Shakti, ATUL Gemini+, and ATUL-E electric variants. The company produces both internal combustion engine models in petrol, diesel, and CNG variants and electric three-wheelers, including rapid-charging EVs developed in partnership with Exponent Energy. Vehicles are distributed through a PAN India dealership network of 400+ touch-points.
Is Atul Auto a public or private company?
Atul Auto is a public company. It is classified as public and is currently operating.
When was Atul Auto founded?
Atul Auto was founded in 1970. It employs 501 to 1,000 people.
Where is Atul Auto based?
Atul Auto is headquartered in Rajkot, India, in the Asia region.
How does Atul Auto make money?
Three revenue lines are on record. Three-Wheeler Vehicle Sales are the primary driver. The others are electric Vehicle Sales and NBFC Operations.
Who are Atul Auto's main competitors?
Emerging players on record are Hero Electric, Kinetic Green, Omega Seiki Mobility, Gayam Motor Works (iGowise) and Euler Motors. Direct peers are Mahindra Last Mile Mobility, TVS Motor Company, Bajaj Auto and Piaggio Vehicles. Greaves Cotton is listed as a broad incumbent.
Does Atul Auto have an API?
No public API is recorded for Atul Auto.
What industry is Atul Auto in?
Atul Auto's product category is Three-Wheeler Vehicles. Its primary akta.pro industry code is IMACAEAC, Scooter & Moped Manufacturing (ICE), with a secondary code of IMACAEAB, Electric Motorcycles & Electric Scooters Manufacturing. Its SIC code is 3751.