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Ashok Leyland: Sector tailwinds add to its horsepower

A strong product portfolio and an increase in market share augur well for the company

May 25, 2023 / 08:40 AM IST
Ashok Leyland: Sector tailwinds add to its horsepower


PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Sectoral tailwinds helped AL post strong set of numbers in Q4 FY23 Operating leverage coupled with softening of RM prices helped operating margins Business outlook promising as there continues to be momentum in demand Valuations look reasonable, accumulate for long term Ashok Leyland (AL; CMP: Rs 151.1, M Cap: Rs 44,100 crore) posted a strong set of numbers in Q4 FY23, helped by sectoral tailwinds, such as strong demand, better supply of semiconductor chips, and lower raw material (RM) prices. The outlook is promising...

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