Stellar Q4 & FY23 results: This multibagger automobile stock reports a 411 per cent jump in net profit; declares dividend!
The stock is up by 22 per cent in 2 years and over 250 per cent in 3 years.
Ashok Leyland Ltd, a leading automobile company in India, announced its Quarterly Results and annual results for the year ended March 31, 2023. Details Below:
Quarterly Results: The net sales increased by 33 per cent, and the net profit increased by 411.78 per cent Q4FY23 over Q4FY22. The EPS stood at Rs 2.56in Q4FY23.
Annual Results: The net sales increased by 66.65 per cent in FY23 over FY22. The company reported a net profit of Rs 1,350.91 crore in FY23 compared to a net loss of Rs 292.97 crore in FY22. The EPS stood at Rs 4.23 in FY23.
Additionally, the company declared a dividend of Rs 2.60 per equity share of a face value of Rs 1 each for the financial year ended March 31, 2023 to the shareholders for approval. The Board of the company said that the dividend shall be paid on or before August 19, 2023.
On Wednesday, shares of Ashok Leyland Ltd zoomed 1.87 per cent to an intraday high of Rs 155 per share from its previous closing of Rs 152.15. At the closing bell, shares of the company ended the day in red, down 1.22 per cent to Rs 150.30 per share.
The shares of the company have a PE of 32x whereas the sectoral PE is 66x with a ROE of 20 per cent. The stock is up by 22 per cent in 2 years and over 250 per cent in 3 years. The shares of the company saw a spurt in volume by more than 1.23 times on BSE.
Top 6 mutual funds that might be in focus:
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Mutual Funds
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Stake (%)
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ICICI Pru Transportation and Logistics Fund-Reg(G)
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7.19
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UTI Transportation & Logistics Fund-Reg (IDCW)
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4.07
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PGIM India Midcap Opp Fund-Reg(G)
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3.98
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Mirae Asset Focused Fund-Reg(G)
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3.05
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Sundaram Focused Fund(G)
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2.93
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Axis Nifty Midcap 50 Index Fund-Reg(G)
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2.52
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Investors should keep an eye on this multibagger automobile stock.