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18th May, 2018

Ashok Leyland closes FY18 with record revenues, profits and volumes. Net Profit jumps 28% to 1,563 Cr.

Board recommends a dividend of Rs. 2.43 per share

Ashok Leyland, flagship of the Hinduja Group closed FY18 with record revenues of

Rs. 26,248 Cr and record profits of Rs. 1,563 Cr. It posted a 10.4% EBITDA margin for FY18. The Company has also increased market share across all segments.

The domestic MHCV industry volume grew by 12% for FY 2017-18 to 340,313 nos (as per SIAM). Ashok Leyland volumes grew by 14% to 116,534 nos for FY 2017-18 in the domestic market. Exports recorded a 36% growth in the fiscal and the Aftermarket revenues also saw a healthy growth of 26%.

Results for Q4 2017-18:

  • Revenue increased by 32% to Rs. 8,772 Cr as against Rs. 6,654 Cr, same period last year.

  • Profit before exceptional item and tax grew by 52% to Rs. 930 Cr.

  • Total MHCV Volumes including exports increased by 15% to 44,425 nos.

  • Volume for LCV increased by 59% to 14,309 nos.

Results for FY 2017-18:

  • Revenues increased by 30% to Rs. 26,248 Cr against Rs. 20,140 Cr, during same period last year.

  • Profit before exceptional item and tax grew by 33% to Rs. 2243 Cr.

  • Total MHCV Volumes including exports increased by 16 % to 131,432 nos.

Key Highlights for FY 17-18:

  1. i-EGR offering was exceptionally successful, enhancing customer profitability.

  2. Highest ever MHCV domestic truck sales at 101,905 nos.

  3. Highest ever LCV volumes at 43,441 nos and grew by 37% in the year

  4. Launched the country’s first Electric Bus with Battery Swap Technology.

  5. Awarded Deming Prize for the Hosur plant – the highest recognition of quality worldwide.

  6. Awarded “AA+” Credit Rating by ICRA: Highest in 20 years.

  7. Recognized once again, as one of the top 40 Brands in India.

  8. Launched 17 new products across different segments.

  9. Launched Digital platform with 4 Apps; i Alert, Service Mandi, Ley Assist and Ley Kart.

  10. Expanded the network to 3445 touch points in FY18 to provide timely service and parts.

  11. Won 12 Defence tenders.

The Board of Directors of the Company have also approved the Scheme of Amalgamation of Ashok Leyland Vehicles Limited, Ashley Powertrain Limited and Ashok Leyland Technologies Limited with Ashok Leyland Limited, subject to various approvals as applicable. The Appointed Date for the Scheme of Amalgamation shall be April 1, 2018.

Mr. Vinod K. Dasari, Managing Director, Ashok Leyland Limited said

FY 17-18 has been an extremely satisfactory year for us with achievements in many fronts. Record domestic truck volumes, substantial growth in LCV, achievement of the second Deming Award, continued growth in market share, success of our digital market place, and most importantly, the transformation which i-EGR brought to the Indian market. All this exemplifies the capabilities that Ashok Leyland is building on various fronts.

Exports has witnessed a healthy jump in the current year and, we will continue to focus on growing International Business as well as Defence and After Market portfolios. Our network continues to grow and reach out to more of our customers. “

Mr. Gopal Mahadevan, CFO, Ashok Leyland added, “We have posted record revenues with record profits and as at the end of the year, we are cash positive with nearly Rs. 3000 Cr surplus. Our focus on working capital and operational efficiency will continue. Our credit rating has been upgraded to ‘AA+’ after a span of 20 years.”

For further information/media queries, contact:

Rajesh Mani

Head - Marketing and Corporate Communications

Rajesh.Mani@ashokleyland.com | Mobile – 9500022922

Media queries can be addressed to corpcom@ashokleyland.com

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