Detail News - Ashok Leyland Corporate
Chennai, July 17, 2018: Ashok Leyland, flagship of the Hinduja Group published its financial result for quarter ended 30th June 2018.
Its Domestic MHCV volumes grew by 60%, Revenues by 47% (Rs. 6250 cr vs Rs. 4258 cr) and PAT by 233 % (Rs. 370 cr vs Rs. 111 cr) over Q1 last year. The Company continued to post robust profit numbers with EBITDA (Earnings before Interest, Tax, Depreciation and Amortization) @ 10.4 % for the current quarter as against 7.2% (Rs. 648 cr vs Rs. 306 cr) in Q1 of previous year.
Results for Q 1 2018-19:
- MHCV volumes including exports increased by 54% to 30647 nos.
- LCV volumes increased by 33% to 11481 nos.
Mr. Vinod K.Dasari, Managing Director, Ashok Leyland Limited said “The Total Industry Volume registered 84% growth primarily driven by surge in infrastructure spend resulting in higher sale of Tipper and MAVs. There was also the impact of base effect. We continued our focus on profitable growth and tight control on working capital, in a market which operated on heavy discounting and credit push. He further added, despite pressure on realization and raw material price increases, I am happy that we continue to post growth with profitability.”
We have grown significantly in Intermediate Commercial Vehicles (ICVs). The LCV and Bus business have also posted very good growth. Exports have also grown by 24%. We will continue to pursue our strategy of de-risking the company from cyclicality even as we pursue superior returns.”
Mr. Gopal Mahadevan, CFO, Ashok Leyland added, “We have seen a double-digit EBITDA margins for 13 of the 14 sequential quarters. Our net cash in the Balance Sheet is Rs. 1165 Cr. Focus on operating costs, product mix, and material cost optimization will continue, even as we pursue growth.”
The company also recently launched the "eN-Dhan" fuel card, to provide best-in-class savings in fuel cost to customers. This initiative with HPCL was developed by the Customer Solutions Business of Ashok Leyland, which aspires to develop a lifetime engagement with customers and to positively impact all facets of their business by offering customized solutions.
For further information/media queries, contact:
Head - Marketing and Corporate Communications
Rajesh.Mani@ashokleyland.com | Mobile – 9500022922
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