Ashok Leyland registers record volumes and revenue of Rs.71 bn in Q3 EBITDA @11.1 %, MHCV exports up 46%

Chennai, February 1, 2018: Ashok Leyland, flagship of the Hinduja Group, reported revenues of Rs. 7,113.16 Cr in Q3 FY 2017-18, against Rs. 4,516.29 Cr (excluding excise duty) during the same period last year, an increase of 58%. The export volumes grew by 46% in the quarter.

The company achieved 11.1% EBITDA in Q3 and has registered a double-digit EBITDA in 11 out of the past 12 quarters.

Results for Q3 FY 2017-18:

  • Revenues increased by 58% to Rs. 7,113.16 Cr, against Rs. 4,516.29 Cr, same period last year
  • Export volumes increased by 46 % to 4289 numbers.
  • Net profit stood at Rs. 449.71 Cr, against Rs. 161.72 Cr, same period last year, up by 178%.
  • EBITDA is Rs. 788.43 Cr, against Rs. 454.12 Cr, same period last year
  • Sales in Medium and Heavy Commercial Vehicles (M&HCV) in Domestic market up by 41%
  • Volume for Light Commercial Vehicles (LCV) was 10926 Nos (7554 nos) an increase of 45%

Results for YTD Dec FY 2017-18:

  • Revenue increased by 30% to Rs. 17397.84 Cr as against Rs. 13400.77 Cr (excluding excise duty), same period last year.
  • Net profit stood at Rs. 895.20 Cr as against Rs. 746.91 Cr, same period last year.

Ashok Leyland received the Global Marketing Excellence award in the Commercial Vehicle space, awarded by CMO Asia.

Mr. Vinod K. Dasari, Managing Director, Ashok Leyland Ltd., said, “It has been an overwhelming performance and our robust growth exemplifies the technological leadership of Ashok Leyland. This quarter saw the successful launch of 3718 Plus, and the unitized wheel bearings, another industry-first from Ashok Leyland. With the opening of our office in Ivory Coast, we have expanded our growing global reach. We had launched the digital market place to support the rapidly growing network of customers and we have seen an excellent response from the market for this initiative.”

Mr. Gopal Mahadevan, CFO, Ashok Leyland Ltd., added, “This has been another quarter of consistent performance from Ashok Leyland. The thrust to introduce new products, expand network, connect with customers and deliver superior solutions should help us pursue profitable growth. Our working capital position continues to be very healthy and our focus on cost would continue”.