• Delhi EV policy: Management views Delhi's mandate requiring only electric three-wheeler registrations from January 2027 as a significant growth catalyst that will not hurt existing business, given the company's minimal diesel and CNG presence in the Delhi/NCR market.
• EV sales mix: Electric vehicles currently account for 28% to 30% of Atul Auto's overall sales, supported by a product portfolio featuring fixed batteries, fast-charging solutions, and swappable battery formats.
• Technology partnerships: The company expects to surpass its three-year target to supply 15,000 fast-charging electric three-wheelers with Exponent Energy ahead of schedule, alongside leveraging its swappable battery alliance with Honda.
• FY27 financial outlook: Atul Auto expects FY27 revenue growth to exceed the 14% rate achieved on ₹824 crore of revenue in FY26, while operating margins are projected to expand beyond FY26's 10% level despite first-quarter raw material price volatility.