Ashok Leyland report Q4 FY24

Chennai- Ashok Leyland Limited, of the Hinduja Group, report in Q4 FY24, they achieved a record EBITDA of 14.1% (Rs. 1592 Cr), up from 11.0% (INR. 1276 Cr) last year. Operating PBT grew by 38% to INR. 1471 Cr compared to INR. 1068 Cr. PAT increased to INR. 900 Cr from INR. 751 Cr in Q4 last year. The company generated INR. 1,658 Cr in cash during the quarter. 

In FY 2024, Ashok Leyland achieved remarkable financial results, demonstrating substantial growth compared to the previous year. Revenues surged to Rs. 38,367 Crores, marking a significant 6% increase from Rs. 36,144 Crores in FY23. The operating profit before tax (PBT) soared to Rs. 3,886 Crores, reflecting an impressive 92% growth from Rs. 2,026 Crores in the previous FY. Similarly, the profit after tax (PAT) witnessed substantial growth, reaching Rs. 2,618 Crores, a notable 90% increase from Rs. 1,380 Crores in FY23. These robust financial results underscore Ashok Leyland's strong performance and strategic initiatives, positioning the company for continued success and growth in the future. 

Ashok Leyland's FY24 EBITDA rose to 12.0% from 8.1% last year, with net debt at Rs. 89 Cr. The company excelled across business segments, gaining market share in M&HCV Bus and maintaining #2 position in LCV 2-3.5T. Export volumes grew by 5%, driven by superior products and an expanded sales network with 246 new outlets opened nationwide. 

Ashok Leyland’s key subsidiaries Switch Mobility, Ohm Mobility, Hinduja Leyland Finance and Hinduja Tech are progressing well and continue to add immense value to Ashok Leyland’s future. Hinduja Tech has recently closed a $ 50 Mn investment from Private Equity investors to pursue further acquisitions.

Mr. Dheeraj Hinduja, Chairman, Ashok Leyland Limited said, “What makes this achievement significant is that it is coming in a year when we are celebrating our 75th year anniversary. We continue to be optimistic about our industry prospects in the short to medium terms backed by anticipated robust growth in the Indian economy. We are confident that we will continue to maintain sustainable and profitable growth year after year through our unwavering pursuit on delivering differentiated products and providing best-in-class customer satisfaction.”   

Mr. Shenu Agarwal, Managing Director & CEO, Ashok Leyland Limited said “FY24 has been a strong year for us. Whether it is revenues, EBITDA margins or profits, we have achieved all-time high numbers. This gives us even more strength to move towards our medium-term goal of mid-teen EBITDA. Our product portfolio is very robust, and our future pipeline is strong. We are confident that our product superiority and our expanding reach will help us to further improve our market share as well as our price realizations. Our team continues to relentlessly focus on cost management initiatives.”

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