Ashok Leyland Revenue boosts to Rs. 60 billion in Q2; Exports up by 39%

Ashok Leyland, flagship of the Hinduja Group, reported revenues of Rs. 6,046.89 Cr, against Rs. 4622.41 Cr (excluding excise duty), same period last year, an increase of 31%. The export volumes grew by 39 % in the quarter.

The company achieved 10.1% EBITDA margin in Q2 and has registered a double-digit EBITDA margin in 10 out of the past 11 quarters.

Results for Q2 FY 2017-18

• Revenues increased by 31% to Rs. 6,046.89 Cr, against Rs. 4622.41 Cr, same period last year
• Export volumes increased by 39 % to 4437 numbers.
• Net profit stood at Rs. 334.26 Cr, against Rs. 294.41 Cr, same period last year, up by 14%.
• EBITDA is Rs. 611.80 Cr, against Rs. 536.49 crores, same period last year
• Sales in Medium and Heavy Commercial Vehicles (M&HCV) in Domestic market up by 22%
• Volume for Light Commercial Vehicles (LCV) was 9588 Nos (8100 nos) an increase of 18%

Results for H1 FY 2017-18:

•  Revenue increased by 16% to Rs. 10,284.67Cr as against Rs.8881.25 Cr excluding excise duty), same period last year.
• Net profit stood at Rs. 445.50 CR as against Rs. 585.19 Cr, same period last year.

Ashok Leyland was recognized amongst the top 40 Indian brands in the Best Indian Brand ranking published by Inter Brand. Ashok Leyland, Hosur has been conferred the 2017 Deming Prize for successful implementation of Total Quality Management.

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

It has been a satisfying performance. Despite all the challenges, our robust market share growth exemplifies the technological leadership of Ashok Leyland. Our iEGR technology for BS-IV has been well accepted by customers. To support the rapidly growing network of customers, we have invested in the digital market place to enhance our customer’s efficiency, performance, and profitability through various means of “anytime, anywhere” support for their vehicles. Winning the Deming Prize second time is a testimony of our quality systems. We are very proud to have achieved this.

Mr. Gopal Mahadevan, CFO, Ashok Leyland added,

Our Financial performance continues to be robust. The best part about Ashok Leyland’s initiatives is the strong customer focus even as we drive financial performance. Our working capital continues to be in control and Debt / Equity for the quarter was at 0.35:1. We will continue to pursue profitable growth

The results of the current year include the financial performance of Foundry Division.