Ashok Leyland posts Revenue of Rs. 29055 Crores; Profit up 15%; Board recommends a 310% dividend
Ashok Leyland, the flagship of the Hinduja Group reported revenue of Rs.29055 Grand a net profit of Rs. 1983 Cr for FY 2018-19. It posted a 10.8% EBITDA margin for FY19.
The domestic MHCV industry volumein Q4 de-grew by 4% for FY 2018-19 to112469 nos(as per SIAM).Ashok Leyland volumesgrew by 1% to41519nosin the domestic market. Q 4 MHCV market share was up at 36.9% as against 35.1% last year.
Results for Q4 2018-19:
- Revenue increased by 1% to Rs. 8846 Cr as against Rs. 8780 Cr, same period last year.
- Profit before exceptional item and tax was at Rs. 818 Cr.
- Volume for LCV increased by 8% to 15502 nos.
Results for FY 2018-19:
- Revenues increased by 10 % to Rs. 29055 Cr against Rs. 26356 Cr, during same period last year
- Profit before exceptional item and tax grew by 6%to Rs. 2554 Cr.
- Total MHCV Volumes including exports increased by 9% to 142858 nos.
- Volume for LCV increased by 25% to 54508 nos.
Board has recommended a310% dividend for FY ’19 viz., Rs. 3.10 per share subject to approval by the shareholders in Annual General Meeting.
Mr. Dheeraj Hinduja, Chairman, Ashok Leyland Limited said,“I am pleased that we have been able to maintain our market share despite competitive pressures and be profitable in the face of rising costs of input materials and regulatory changes. Our LCV programme continues its winning streak. We are well on our way to successful introduction of BS 6 and together with a range of products planned across the spectrum in FY ’21, I am confident of maintaining the current growth momentum. In the medium term, we believe this sector holds strong potential which is crucial to the growth of the economy“
Mr. Gopal Mahadevan, Chief Financial Officer, Ashok Leyland added, “We have grown our market share in both trucks and buses in the fourth quarter and will continue to focus on the twin engines of growth and profitability. We continue to be net cash positive at the year end with over Rs.700 crores of cash.”