NSE: ATLANTAELE · BSE: 544527 · ISIN INE0Z4F01028
Atlanta Electricals Limited stock analysis
Atlanta Electricals Limited ranks #51 in the TickerSutra evidence-ranked universe with a score of 75/100 and 87% data confidence. The latest captured fundamentals show ROCE of 45.3%, quarterly sales growth of 48.0% and quarterly profit growth of 50.4%.Watchlist candidate
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 45.3%
- Low debt/equity of 0.05×
- 28.4% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹595cr | ₹47cr | ₹17cr | 8.0% |
| 2023 | ₹874cr | ₹140cr | ₹87cr | 16.0% |
| 2024 | ₹868cr | ₹119cr | ₹64cr | 14.0% |
| 2025 | ₹1,244cr | ₹194cr | ₹119cr | 16.0% |
| 2026 | ₹1,852cr | ₹345cr | ₹202cr | 19.0% |
| TTM | ₹2,003cr | ₹373cr | ₹217cr | 19.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Atlanta Electricals Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineShareholders meetingNSE · 23 Sept 2026Atlanta Electricals Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 21, 2026. Further, the company has informed the Exchange regarding voting results.
RoutineAtlanta Electricals Ltd - 544527 - Shareholder Meeting / Postal Ballot-Scrutinizer''s ReportBSE · 23 Sept 2026Submission of Voting Results along with Scrutinizer''s Report.
RoutineShareholders meetingNSE · 21 Sept 2026Atlanta Electricals Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 21, 2026
RoutineAtlanta Electricals Ltd - 544527 - Shareholder Meeting / Postal Ballot-Outcome of AGMBSE · 21 Sept 2026Proceeding of 38th Annual General Meeting of the Company
MANAGEMENT COMMENTARY
Signals from filed documents
As of the end of the quarter, net working capital stood at 72 days, with inventory days at 105, receivable days at 88, and payable days at 110. This translates into a cash conversion cycle of approximately 83 days, which remains broadly in line with the previous quarter, reflecting disciplined working capital management despite the increase in business scale. Atlanta Electricals Limited July 22, 2026 Page 4 of 19 Ove
So we actually started FY ‘27 with highest-ever EBITDA margin since last three years, which is 16.50%. On the raw material front, yes, we expect that this price increase will continue or will sustain, but the margin will be sustainable to this level. So we expect the margin somewhere around 17 to 18% as we always convey to our investors.
EBITDA for the quarter stood at INR77.10 crores, representing a 58.1% year-on-year increase, with EBITDA margin expanding to 16.5% compared with 15.5% in Q1 FY26. The margin expansion was driven by operating leverage as our higher production volumes were a bsorbed across the expanded manufacturing base, along with the continued improvement in product mix. Atlanta Electricals Limited July 22, 2026 Page 3 of 19 Profit
We do not see any logic in that actually. So what you are saying is that if they do try and supply to Indian PSUs, they will end up making lower margins versus what they are making right now. Anand Sharma: No, they would not be interested in lower margin orders because they are not sitting idle.
EBITDA for the quarter stood at INR77.10 crores, representing a 58.1% year-on-year increase, with EBITDA margin expanding to 16.5% compared with 15.5% in Q1 FY26. The margin expansion was driven by operating leverage as our higher production volumes were a bsorbed across the expanded manufacturing base, along with the continued improvement in product mix. Atlanta Electricals Limited July 22, 2026 Page 3 of 19 Profit
So given that, sir, export orders typically they command, different pricing, competition, execution as compared to your domestic business, how should I perceive about the impact of a higher export share on the company's margin profile, your working capital and your return ratios? Anand Sharma: Sir, we are trying to enter into export market just to mitigate the risk of the overcapacity situation which might come few y
For other players who have been manufacturing the products of 400 and 765 kV, they are aware of their costs related to these products and hence they are able to put the margin figures in a concrete manner on the table, unlike us as a company who is yet to manufacture 400 and 765 kV product. So once we manufacture a first prototype, once we get the short -circuit test done successfully and then put the jobs into comme
And further strengthen our ability to cater to the growing demand from renewable energy sector, battery energy storage systems, and EV charging infrastructure and other emerging applications. We are also making steady progress on our tank and radiator manufacturing facility as a part of our backward integration efforts, which this facility is going to come adjacent to our Vadod facility. This initiative is expected t
As we continue to scale our operation, we remain committed to enhancing operational efficiencies and preparing our facilities for the next phase of growth. Our capacity expansion program continues to progress as planned. Construction activities at our dedicated inverter duty transformer manufacturing facility are advancing well, and we remain on track to commission the facility before the end of current calen dar yea
My first question is on the gross margin. Though we have improved Y-o-Y, I think Q-o-Q the gross margins have declined, probably due to the different product mix and raw material pricing pressure. So if you can throw some light on what was the product mix executed in the quarter and the -- which product in the raw material, the BOM, are we facing the highest pressure on?
The DGTR has initiated an investigation into CRGO steel imports, which could potentially lead to the imposition of provisional anti-dumping duty. Could you share your assessment of likely short-term and long-term impact on company's raw material cost? Anand Sharma: So this inquiry has been initiated recently and the DGTR is expected to give some verdict by the end of March next year.
As soon as we close the agreement, I think the approvals will be a fast-track mechanism. So broadly, should we expect end of second quarter for us to have approval from PGCIL for 765 kV? And just my last question was on this power transformers versus distribution transformers.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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