ECONOMY

Ashok Leyland Q4 Review – Infra Spend; Allied With CNG Portfolio To Benefit: ICICI Direct

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Ashok Leyland Ltd. reported healthy results in Q4 FY22.

Standalone operating income came in at Rs 8,744 crore (up 58% QoQ). Total volumes for the quarter were at 48,719 units, up 43% sequentially with average selling prices for the quarter coming in at Rs 17.9 lakh/unit, up 10.5% QoQ.

Medium and heavy commercial vehicle volumes in the total sales volume mix (~66% in Q4 FY22 versus ~57% in Q4 FY22).

Ashok Leyland’s Ebitda for the quarter came in at Rs 776 crore with corresponding margins at 8.9%, up 483 basis points QoQ.

Gross margin declined was limited to ~30 bps QoQ but operating leverage benefits lifted blended margin.

Consequent reported profit after tax was at Rs 901.4 crore. Profit after tax for the quarter was supported by exceptional one-time gains of Rs 470.3 crore. Adjusted profit after tax for the quarter was at Rs 477 crore.

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