Atlas Cycles Haryana Ltd. (ATLASCYCLE) AI Stock Analysis

• Market Cap: ₹526.95M
• Dividend Yield: N/A
• Average Volume (3M): 1.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.17
• Revenue Growth: -8.16%
• EPS Growth: -122.62%
• Country: IN
• Employees: 14
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): -2.31
• Shares Outstanding: 6,500,000
• 10 Day Avg. Volume: 591
• 30 Day Avg. Volume: 1,170
• PEG Ratio: <0.01
• Price to Book (P/B): 0.15
• Price to Sales (P/S): 3.48
• P/FCF Ratio: -63.33
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: ₹83.00 ▼(-17.83% Downside)
• Action: Reiterated Date: 12/27/25
• Date: Action: Reiterated 12/27/25

The score is held down primarily by weak profitability and negative operating/free cash flows despite strong recent revenue growth and a low-leverage balance sheet. Technical indicators are mixed with longer-term trend pressure, and valuation is impaired by a negative P/E with no dividend support.

Positive Factors

Revenue recovery

A near-48% recent revenue increase indicates renewed demand or successful volume gains. Sustained top-line growth strengthens unit economics by improving fixed-cost absorption, supports scale advantages in manufacturing, and creates a firmer base for converting gains into long-term profit recovery if maintained.

Low financial leverage

Very low leverage provides financial resilience, lowers interest burden and refinancing risk, and preserves capacity for strategic capex or working capital needs. Over months this structural strength reduces bankruptcy risk and supports capital allocation flexibility during cyclical demand.

Improving gross margins

An improving gross margin implies better input-cost control or favorable product mix. If sustained, higher gross margins create persistent operating leverage, enabling the firm to better absorb SG&A and drive lasting improvements in operating profitability and cash generation.

Negative Factors

Negative cash flows

Persistent negative operating and free cash flows limit the company's ability to self-fund working capital, capex, and debt servicing. Over a multi-month horizon this raises reliance on external financing, constrains strategic investments, and increases financial vulnerability in downturns.

Low return on equity

A low ROE signals the company generates minimal returns on shareholders' capital. Structurally this reduces retained-earnings growth available to fund expansion, weakens shareholder value creation prospects, and suggests inefficiencies in converting equity into sustainable profits.

Inconsistent profitability

Historical negative EBIT margins and volatile net margins reflect inconsistent operating performance. Such instability undermines predictability of earnings and cash flow, making it harder to rely on margin improvements from revenue growth and complicating long-term planning.

Atlas Cycles Haryana Ltd. Business Overview & Revenue Model

Company Description

Atlas Cycles (Haryana) Limited, together with its subsidiaries, manufactures and sells bicycles and its components in India. It also exports its products. The company was incorporated in 1950 and is based in Sonepat, India.

How the Company Makes Money

Atlas Cycles Haryana Ltd. primarily makes money by manufacturing and selling bicycles and related components/parts. Its main revenue stream is the sale of finished bicycles through dealer/distributor networks and direct/institutional channels where applicable (e.g., bulk orders). A secondary revenue stream comes from the sale of spares and components used for replacements/aftermarket demand and, where applicable, components supplied to other assemblers or industry customers. Earnings are driven by unit volumes, product mix (value segment vs. higher-spec models), pricing, and manufacturing efficiency (input costs such as steel and other raw materials, labor, and overhead absorption). Specific details on material partnerships, customer concentration, or the exact split of revenue by product line are null.

Atlas Cycles Haryana Ltd. Financial Statement Overview

Summary

Strong recent revenue growth (47.98%) suggests recovery, but profitability remains inconsistent and cash generation is weak. Low leverage (debt-to-equity 0.023) supports stability, yet negative operating/free cash flows and low ROE (2.45%) materially limit the financial score.

Income Statement

Atlas Cycles has shown a significant revenue growth rate of 47.98% in the latest year, indicating a strong recovery. However, the company has struggled with profitability, as evidenced by negative EBIT margins in previous years and a fluctuating net profit margin. The gross profit margin has improved, but the company needs to maintain this trajectory to ensure long-term profitability.

Balance Sheet

The company's debt-to-equity ratio is low at 0.023, suggesting minimal leverage, which is a positive sign for financial stability. However, the return on equity is relatively low at 2.45%, indicating that the company is not generating significant returns on its equity base. The equity ratio is strong, reflecting a solid capital structure.

Cash Flow

Atlas Cycles faces challenges with negative operating and free cash flows, indicating potential liquidity issues. The free cash flow to net income ratio is positive, but the negative growth in free cash flow is concerning. Improving cash flow generation is crucial for the company's financial health.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	98.09M	171.40M	62.26M	17.30M	33.79M	172.20M
Gross Profit	15.44M	22.17M	-68.83M	-133.80M	-16.61M	21.66M
EBITDA	-10.37M	113.90M	28.38M	-209.60M	-254.65M	-315.57M
Net Income	-27.19M	95.13M	6.57M	-233.00M	-287.48M	-352.42M
Balance Sheet
Total Assets	4.80B	4.79B	4.82B	1.15B	1.36B	1.53B
Cash, Cash Equivalents and Short-Term Investments	13.04M	8.19M	4.36M	5.22M	14.88M	12.79M
Total Debt	90.00M	90.00M	90.00M	90.00M	90.00M	90.00M
Total Liabilities	966.27M	912.75M	1.04B	1.48B	1.45B	1.33B
Stockholders Equity	3.84B	3.88B	3.78B	-325.60M	-92.64M	194.83M
Cash Flow
Free Cash Flow	4.87M	-9.43M	-510.86M	-54.20M	-37.82M	-29.94M
Operating Cash Flow	4.87M	-6.50M	-510.78M	-54.00M	-37.68M	-29.93M
Investing Cash Flow	0.00	13.20M	19.77M	45.40M	44.19M	1.53M
Financing Cash Flow	-15.00K	-1.18M	-366.00K	-514.00K	-1.00M	-768.00K

Atlas Cycles Haryana Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 101.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ATLASCYCLE, the sentiment is Negative. The current price of 101.01 is above the 20-day moving average (MA) of 89.61, above the 50-day MA of 95.25, and below the 200-day MA of 113.36, indicating a bearish trend. The MACD of -2.97 indicates Positive momentum. The RSI at 40.63 is Neutral, neither overbought nor oversold. The STOCH value of 23.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ATLASCYCLE.

Atlas Cycles Haryana Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TOUCHWOOD	68 Neutral	₹768.15M	16.12	―	0.38%	134.18%	105.54%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MITTAL	57 Neutral	₹315.17M	15.34	―	―	33.38%	-46.53%
PIONEEREMB	57 Neutral	₹711.65M	-26.56	―	―	-4.46%	-77.27%
ATLASCYCLE	46 Neutral	₹526.95M	-11.23	―	―	-8.16%	-122.62%
CELEBRITY	44 Neutral	₹432.67M	-3.93	―	―	-28.56%	-16.49%