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Ashok Leyland: Why this automaker is a steady bet at this juncture

The outlook appears promising as the company has a strong product portfolio and is focusing on increasing market share

February 03, 2023 / 09:23 AM IST
Ashok Leyland: Why this automaker is a steady bet at this juncture

Ashok Leyland: The commercial vehicle maker has sold 17,200 units in the month of January 2023, growing 23 percent over a year-ago period with healthy growth across segments. Medium & heavy commercial vehicle sales increased by 28 percent to 11,050 units in the same period, and light commercial vehicle segment registered 17 percent YoY growth at 6,150 units for January.

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 Q3 FY23 Operating leverage coupled with softening of input prices helped operating margins Business outlook promising as there continues to be momentum in demand Valuations look reasonable, accumulate for long term Sectoral tailwinds such as strong demand, better semiconductor chip supply, and softer raw material (RM) prices have helped Ashok Leyland (AL; CMP: Rs 152.2, M Cap: Rs 44,690 crore) post a strong set of numbers in Q3 FY23. The outlook continues to look...

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