Leading three-wheeler manufacturing company Atul Auto is expecting double-digit growth in the financial year 2020, said Jitendra Adhia, president of Finance at the company.
“Normally Q1 remains lean and particularly two months – April and May. So we expect that sales are likely to improve in Q2 and Q3... we are confident because we have a complete product portfolio, there were certain external factors because of which demand was sluggish. I expect that once these factors improve in the market, we will be able to cover up that shortfall as well," said Adhia, in an interview with CNBC-TV18.
It's the second month of sequential improvement in sales for Atul Auto.
“Sales numbers are improving month-on-month (MoM) but when they are being compared with last year, certainly they have degrown by 3.5 percent. There is a little pressure on exports where few contracts have been postponed,” Adhia said.
In terms of domestic sales, he said, “We grew by 6 percent on a quarterly basis," adding “as far as guidance is concerned, I am still positive and I expect that we will be able to post positive numbers this year compared to last year."