Auto Sector Co Declares 17% YoY Decline In PAT, Rs 2.60 Per Share Dividend

Large cap auto sector company, Ashok Leyland Ltd on Tuesday reported 17% YoY fall in net profit for the quarter ended March to Rs 751.41 crore. Meanwhile, total revenue from operations soared 33% YoY to Rs 11, 626 crore. The board of Ashok Leyland recommended a dividend of 2.60 per equity share for the FY ended March 31, 2023. Ashok Leyland share last trading price is Rs 152.15 per share on BSE. Check details below:

Ashok Leyland Recommends Dividend: The Board of Directors of the Company at its meeting held today have recommended a dividend of Rs.2.60 per equity share of Re.1/- each for the financial year ended March 31, 2023 to the shareholders for approval. The said dividend, if approved at the forthcoming Annual General Meeting (‘AGM’), shall be paid on or before August 19, 2023.”

For the purpose of AGM and payment of dividend, the Register of Members will remain closed from Saturday, July 8, 2023 to Friday, July 21, 2023 (both days inclusive) and the Record date is fixed on July 7, 2023.

Ashok Leyland Stock Performance & Return: Last trading price of Ashok Leyland is Rs 152.15 apiece with intraday fall of 0.65%. Ashok Leyland stock’s 52-week high price is Rs 169.40 apiece and 52-week low price is Rs 128.35 apiece, respectively. The company’s market capitalisation is Rs 44,673.18 crore.

Ashok Leyland Q4: The company’s total revenue from operations soared approximately 33% YoY to Rs 11,626 crore. The net profit for FY23 soared to Rs 1,380 crore and revenue jumped 67% to Rs 35,977 crore. Meanwhile, operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), surged to Rs 1,276 crore for the March quarter from Rs 776.1 crore a year ago.

“The CV industry is buoyant due to favourable macroeconomic factors and a healthy demand from the end-user industries. This trend is expected to continue alongside growth in core sectors such as construction & mining, agriculture, increased capital outlay for infrastructure projects and pent-up replacement demand,” said Dheeraj Hinduja, Executive Chairman, Ashok Leyland.

About: Ashok Leyland, flagship of the Hinduja group, is the 2nd largest manufacturer of commercial vehicles in India, the 4th largest manufacturer of buses in the world, and 19th largest manufacturers of trucks. Headquartered in Chennai, 9 manufacturing plants gives an international footprint – 7 in India, a bus manufacturing facility in Ras Al Khaimah (UAE), one at Leeds, United Kingdom and a joint venture with the Alteams Group for the manufacture of high-press die-casting extruded aluminium components for the automotive and telecommunications sectors, Ashok Leyland has a well-diversified portfolio across the automobile industry.

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