Atual Auto declares 10 pc dividend for 2005-06

Mumbai, Jun 6: The directors of Atul Auto Ltd (AAL) has proposed to maintain a dividend at the rate of 10 per cent to its sharesholders for the year ended March 31.

Announcing the annual results, AAL Chairman and Managing Director J J Chandra told mediapersons that ''Rajkot-based Atul Auto Ltd, the Gujarat's largest three-wheeler commercial vehicles manufacturer, has registered a growth of 30 per cent with net sales touching Rs 129 crore for the year ended March 31 this year as compared to the same period last year.'' ''The company has achieved the sales of Rs 98.9 crore. We are expecting to capture about 12 per cent of the commercial three- wheeler market space by 2010. One of the highlights of Atul Auto's performance has been impressive bottom line growth. Its profit-after- tax was Rs 3.01 crore, which has jumped to Rs 4.20 crore this year, an increase of 39 per cent. The company also expects its Haridwar plant with investment of Rs 10 crore to be operational by August this year,'' he added.

UNI