Ashok Leyland has reported its monetary efficiency for FY2022. The firm reported income of Rs 21,688 crore, a development of 42 p.c, and revenue after tax at Rs 542 crore as in opposition to a loss after tax of Rs 314 crore for a similar interval final 12 months.
For This autumn FY2022 the income got here at Rs 8,744 crore (+25% YoY) in in comparison with Rs 7,000 crore for a similar interval final 12 months; The revenue after tax was Rs 901 crore as in opposition to Rs 241 crore in This autumn final 12 months.
The firm’s market share for This autumn FY22 improved to 30.6 p.c in contrast 28.9 p.c a 12 months in the past, which is also its highest market share seen within the final 11 quarters.
The OEM attributes the strong efficiency to the profitable launch of its AVTR vary – India’s first modular truck platform and the launch of the CNG vary in ICV’s.
Furthermore, in the final quarter the corporate exported 4,173 MHCV & LCV a development of 32 p.c YoY. On a full 12 months foundation, the exports got here at 11,014 models which was 38 p.c larger than final 12 months
Dheeraj Hinduja, government chairman, Ashok Leyland mentioned, “We have seen recovery in Q4 FY’22 and the overall performance has been very good. The CV industry is on a recovery owing to the improvement in the macroeconomic environment and healthy demand from the end-user industries. The MHCV segment is leading the recovery riding on the back of growth in core sectors such as construction & mining, agriculture, increased capital outlay for infrastructure projects and pent-up replacement demand. The performance of our BS VI products have been very good and the introduction of CNG products has helped us regain our market share.”
“LCV volumes driven by increased demand for last mile connectivity, especially from the e-commerce segment is expected to grow further. The focus on exports, defence, power solutions and parts businesses will ensure a balanced growth, even as we expand the reach and the products of our core M&HCV business. We are keenly following the commodity prices, and the situation on the supply of semiconductors and hope that both will ease,” added Hinduja.
Gopal Mahadevan, Whole Time Director and CFO, Ashok Leyland mentioned “We believe that the Q4 performance posted a good recovery. Our truck market shares have been growing steadily quarter on quarter in MHCV and in LCV, volumes have picked up. All other businesses including aftermarket and international operations have done exceptionally well. The higher volumes and our cost management initiatives have helped us improve our bottom line. We have generated close to Rs 2,000 crore in cash this quarter owing to better profits and improved working capital, we will continue to focus on driving operational efficiency.”
Source: www.financialexpress.com”