Hinduja Group’s EV Company Begins Delivery of AVTR 55T Electric and BOSS Electric Vehicles to Billion Electric Mobility Worth Rs 150 Crore!
The company’s shares have delivered an impressive return of over 25 per cent in the past 1 year.
Ashok Leyland, the flagship company of the Hinduja Group and a leader in the medium and heavy commercial vehicle (M&HCV) segment, has commenced the delivery of 180 electric trucks, including AVTR 55T Electric and BOSS Electric vehicles, to Billion Electric Mobility. This domestic order, valued at approximately Rs 150 crores, is set to be executed by the fourth quarter of FY 2024-25. The move reinforces Ashok Leyland's commitment to sustainable mobility and its leadership in the electric vehicle market.
With a strong brand presence and a well-diversified distribution network across India and 50 countries, Ashok Leyland is one of the most fully integrated manufacturing companies in the industry. The company is India's second-largest manufacturer of commercial vehicles, the fourth-largest bus manufacturer globally, and the ninth-largest truck manufacturer. As of FY24, it holds a market share of 31 per cent in the medium and heavy commercial vehicle (M&HCV) segment for buses and trucks, and 20 per cent in the light commercial vehicle (LCV) segment.
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Today, the company’s shares closed at around Rs 222.45 and the current market capitalization stands at Rs 65,320 crore. Additionally, the shares have delivered an impressive return of around 30 per cent in the past 1 year only.
As per the Quarterly Results, in the Q1 FY25, Ashok Leyland recorded a revenue of Rs 10,724 crore compared to Rs 9,691 crore. It reported an operating profit of Rs 1,868 crore. The net profit stood at Rs 551 crore compared to Rs 584 crore. Looking at the annual performance, the company generated a revenue of Rs 45,791 crore in FY24 compared to Rs 41,673 crore. The operating profit for FY24 was Rs 7,943 crore with a net profit of Rs 2,696 crore compared to a profit of Rs 1,359 crore in FY23.
Disclaimer: The article is for informational purposes only and not investment advice.