Ashok Leyland reports strong quarter for Q4FY18

Ashok Leyland, one of India’s largest commercial vehicle manufacturers, reported strong results for the quarter. The company recorded good numbers across the board.

Total revenue for the quarter rose by 23.1 per cent yoy and 22.8 per cent qoq to Rs. 8,772 crore in Q4FY18 as against Rs. 7,093 crore in Q4FY17 and Rs. 7,141 crore in Q3FY18.

The EBITDA for the quarter rose by 41.5 per cent yoy to Rs. 1,033 crore and EBITDA margin expanded by 150 bps to 11.8 per cent for Q4FY18 as against EBITDA and EBITDA margin of Rs. 730 crore and 10.3 per cent, respectively for Q4FY17. This was largely due to decline in raw material cost by 15 per cent yoy to Rs.3952 crore in Q4FY18.

The bottom-line for the quarter rose by 40 per cent yoy to Rs. 667 crore in Q4FY18 as against Rs. 447 crore in Q4FY17 and Rs. 449 crore in Q3FY18. In the same quarter previous year, the company recorded one-time exceptional loss of Rs. 350 crore.

On full year basis, the revenue for the quarter rose by 23.6 per cent yoy to Rs. 26,524 crore in FY18 as against Rs. 21,453 crore in FY17, while the EBITDA and EBITDA margin for FY18 stood at Rs. 2,738 crore and 10.3 per cent, respectively. While the bottom-line for the FY18 stood at Rs. 1,562 crore.

Ashok Leyland volumes grew by 14 per cent to 1,16,534 units for FY2017-18 in the domestic market. While exports recorded a 36 per cent growth in the fiscal and the Aftermarket revenues also saw a healthy growth of 26 per cent.

 Meanwhile, on Friday, the stock closed down by 3.89 per cent at Rs. 148 per share.