Ashok Leyland reported a 5 per cent rise in total vehicle sales in June at 15,221 units.
Ashok Leyland Share Price: Shares of commercial vehicles maker Ashok Leyland rose in Monday’s trade as the company reported a 5 per cent rise in total vehicle sales in June at 15,221 units.
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In the year-ago period, total vehicle sales of the company stood at 14,531 units.
In the last one month, the stock has surged over 13 per cent, while it has surged over 16 per cent in the past one year.
Sales of light commercial vehicles (LCV) witnessed a 2 percent on-year growth at 5,259 units in June. While in the medium and heavy commercial vehicle segment (M&HCV) sales increased 6 percent on-year to 9,962 units, up from the 9,354 units sold a year ago.
In Q4 FY23, Ashok Leyland reported a nearly 17 per cent YoY decline in net profit to Rs 751.41 crore, despite a rise in revenue. The total revenue from operations increased nearly 33 per cent YoY to Rs 11,626 crore in Q4 FY23.
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For FY23, the net profit of the company surged more than twofold to Rs 1,380 crore, and revenue grew 67 per cent to Rs 35,977 crore.
Operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), rose to Rs 1,276 crore in the March quarter from Rs 776.1 crore a year ago. Operating margins expanded 209 basis points on year to 10.97 per cent.
As per Trendlyne data, the average target price of the stock is Rs 180, which indicates an upside potential of 6 per cent from the current market price. The consensus recommendation from 38 analysts for the stock is a ‘Buy’.
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Technically, the stock’s day RSI (14) is at 70.4. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 4.2, which is above its center and signal Line, this is a bullish indicator.
