Ashok Leyland Turns Profitable In Q4 Of FY22

Commercial vehicle manufacturer, Ashok Leyland has reported revenue of Rs. 8744 crore in Q4 of FY ’22 as against Rs. 7,000 crore for the same period last year. The company says revenue grew by 25 percent year on year.

Profit before tax (PBT) for the quarter was at Rs. 999 crore as against Rs. 314 crore for the same period last year.

Profit after tax (PAT) was at Rs. 901 crore as against a Rs. 241 crore in Q4 last year. Q4 EBITDA was at 8.9 percent as against 7.6 percent last year.

The company’s truck market share for Q4 FY’22 improved by 30.6 percent vis-a-vis 28.9 percent in Q4 FY’21, the highest market share seen in the last 11 quarters.

Revenue for full year was at Rs. 21688 crore as against Rs. 15,301 crore over the same period last year. PBT was Rs. 528 crore as against a Loss before tax of Rs. 412 crore last year. PAT was at Rs.542 crore as against a loss after tax of Rs. 314 crore last year.

Full year EBITDA was at 4.6 percent as against 3.5 percent last year. Cash generated during the year was Rs. 1888 crore; the Debt net of cash is at Rs. 720 crore.

Dheeraj Hinduja, Executive Chairman, Ashok Leyland, said, “The MHCV segment is leading the recovery riding on the back of growth in core sectors such as construction & mining, agriculture, the increased capital outlay for infrastructure projects and pent-up replacement demand. The performance of our BS6 products has been very good and the introduction of CNG products has helped us regain our market share.”

He further added, “LCV volumes driven by increased demand for last mile connectivity, especially from the e-commerce segment is expected to grow further. The focus on Exports, Defence, Power Solutions and Parts businesses will ensure a balanced growth, even as we expand the reach and the products of our core MHCV business.  We are keenly following the commodity prices, and the situation on the supply of semi-conductors and hope that both will ease.”

Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok Leyland, said “We have generated close to Rs. 2000 crore in cash this quarter owing to better profits and improved working capital, we will continue to focus on driving operational efficiency.”