Ashok Leyland posts record revenue of Rs 26,248 crore

The Company has also increased market share across all segments. The domestic MHCV industry volume grew by 12 per cent for FY 2017-18 to 340,313 units (as per SIAM).

Ashok Leyland volumes grew by 14 per cent to 116,534 units in 2018 in the domestic market. Exports recorded a 36 per cent growth in the fiscal and the market revenues also saw a healthy growth of 26 per cent. 

Vinod K Dasari, Managing Director, Ashok Leyland, said revenues increased by 32 per cent to Rs 8,772 crore as against Rs 6,654 crore during the same period last year. He added that profit before exceptional item and tax grew by 52 per cent to Rs 930 crore. Total MHCV Volumes, including exports, increased by 15 per cent to 44,425 numbers, while the LCV volume went up by 59 per cent to 14,309 units. 

The Board of Directors of the Company have also approved the Scheme of Amalgamation of Ashok Leyland Vehicles Limited, Ashley Powertrain Limited and Ashok Leyland Technologies Limited with Ashok Leyland Limited, subject to various approvals as applicable.  

The Appointed Date for the Scheme of Amalgamation will be April 1, 2018. Dasari said FY 17-18 has been an extremely satisfactory year for the company with achievements in many fronts. 

“Record domestic truck volumes, substantial growth in LCV, achievement of the second Deming Award, continued growth in market share, success of our digital market place and most importantly, the transformation which i-EGR brought to the Indian market. All this exemplifies the capabilities that Ashok Leyland is building on various fronts”, he remarked.

He said exports witnessed a healthy jump in the current year and we will continue to focus on growing International Business as well as Defence and After Market portfolios. Ashok Leyland CFO Gopal Mahadevan the company is cash positive with nearly Rs 3,000 crore surplus and its focus on working capital and operational efficiency will continue. “Our credit rating has been upgraded to ‘AA+’ after a span of 20 years,” he said.