Atul Auto to launch CNG-based rickshaws

The company reported a net profit of Rs 92 lakh for the half year, compared with a net profit of Rs 1.06 crore in the year-ago period.

The company said it would launch CNG-based two-seater passenger rickshaws by the end of this fiscal year.

Jayantibhai Chandra, managing director of Atul Auto, said the two-seater will be 30 per cent cheaper than the other vehicles in the same category.

Chandra said the company has a network of 30 dealers in Gujarat and 50 dealers in various states.

He said there is demand for the company's vehicles from Madhya Pradesh, Rajasthan and Andhra Pradesh.

The company has undertaken a project to improve the manufacturing process and engines to enhance the fuel efficiency of the vehicles, he said.

The company has decided to stop exports to focus on the domestic market.

The company said it has more than 70 per cent market share in diesel vehicles in the Saurashtra region. Around 9,000 vehicles were produced in last fiscal and the company has set a sales target of 12,000 vehicles for 2003-04.

Chandra said, "In Saurashtra, the public transport facilities are not sufficient and people prefer rickshaws and private vehicles. Our goods vehicle is ideal for transporting agricultural produce to the marketing yards."

The company has administrative offices in Rajkot and Ahmedabad and 375 employees.

The company produces over 750 vehicles a month.