Ashok Leyland Ltd

Ashok Leyland Ltd

₹ 172 -0.61%
21 Feb 2:37 p.m.
About

Ashok Leyland is the flagship Company of the Hinduja group, having a long-standing presence in the domestic medium and heavy commercial vehicle (M&HCV) segment. The company has a strong brand and well-diversified distribution and service network across the country and has a presence in 50 countries, it is one of the most fully-integrated manufacturing companies. Its headquarter is in Chennai [1]
They manage driver training institutes across India and have trained over 8,00,000 drivers since inception. [1]

Key Points

Market Leadership
The Company is the second largest manufacturer of commercial vehicles in India in the medium and heavy commercial vehicle segment, fourth largest manufacturer of buses in the world and the fifteenth largest manufacturer of trucks globally. [1]

  • Market Cap 50,472 Cr.
  • Current Price 172
  • High / Low 192 / 133
  • Stock P/E 21.4
  • Book Value 30.2
  • Dividend Yield 1.47 %
  • ROCE 11.4 %
  • ROE 15.0 %
  • Face Value 1.00

Pros

  • Debtor days have improved from 45.9 to 36.1 days.
  • Company's working capital requirements have reduced from 82.0 days to 65.2 days

Cons

  • Stock is trading at 5.71 times its book value
  • Company has a low return on equity of 5.25% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
5,954 8,142 4,088 5,562 6,660 9,927 8,470 9,600 10,400 13,203 9,691 11,429 11,093
5,207 7,129 3,752 4,987 6,002 8,733 7,701 8,580 9,055 11,245 8,183 9,559 9,131
Operating Profit 747 1,013 336 576 658 1,194 770 1,020 1,344 1,958 1,509 1,870 1,961
OPM % 13% 12% 8% 10% 10% 12% 9% 11% 13% 15% 16% 16% 18%
0 163 14 25 -34 -233 5 32 36 97 53 -1 46
Interest 468 457 462 479 465 463 467 499 545 582 655 715 783
Depreciation 213 245 211 207 214 234 212 209 220 259 227 227 241
Profit before tax 66 473 -324 -84 -56 264 96 344 615 1,214 679 927 984
Tax % 42% 20% 22% 1% -92% 40% 77% 46% 43% 34% 14% 39% 38%
38 377 -252 -84 -108 158 22 186 351 803 584 569 609
EPS in Rs 0.05 1.20 -0.93 -0.35 -0.41 0.48 0.02 0.56 1.09 2.56 1.85 1.79 1.91
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
11,859 15,708 21,260 22,871 29,636 33,197 21,951 19,454 26,565 42,292 45,416
11,437 14,191 18,281 19,826 25,387 28,287 18,718 16,992 23,800 37,199 38,117
Operating Profit 422 1,517 2,979 3,045 4,248 4,910 3,233 2,462 2,765 5,093 7,298
OPM % 4% 10% 14% 13% 14% 15% 15% 13% 10% 12% 16%
613 -106 -321 406 190 139 57 207 -230 169 194
Interest 805 872 925 1,049 1,227 1,502 1,802 1,901 1,869 2,094 2,735
Depreciation 530 580 524 573 646 676 750 836 866 900 953
Profit before tax -300 -42 1,209 1,829 2,565 2,872 739 -67 -200 2,269 3,804
Tax % 23% -415% 41% 11% 29% 24% 38% -4% -43% 40%
-222 -205 712 1,633 1,814 2,195 460 -70 -285 1,362 2,565
EPS in Rs -0.62 0.47 2.40 5.58 6.01 7.08 1.15 -0.56 -1.22 4.23 8.11
Dividend Payout % 0% 96% 40% 28% 40% 44% 44% -107% -82% 62%
Compounded Sales Growth
10 Years: %
5 Years: 7%
3 Years: 24%
TTM: 18%
Compounded Profit Growth
10 Years: %
5 Years: -7%
3 Years: 50%
TTM: 218%
Stock Price CAGR
10 Years: 27%
5 Years: 16%
3 Years: 12%
1 Year: 17%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 5%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 266 285 285 285 293 294 294 294 294 294 294
Reserves 3,723 4,227 4,979 6,108 7,128 8,452 7,495 7,568 7,010 8,260 8,584
8,500 9,070 11,054 13,168 15,791 19,168 22,417 24,077 24,145 31,161 34,392
5,035 6,011 5,806 7,048 10,171 11,212 7,924 10,119 12,125 14,965 14,841
Total Liabilities 17,524 19,592 22,123 26,609 33,383 39,126 38,130 42,058 43,574 54,679 58,110
7,573 6,529 5,890 6,591 6,596 6,695 8,031 8,484 7,895 8,129 8,148
CWIP 297 216 87 244 439 678 574 336 240 268 251
Investments 1,165 1,499 1,031 1,933 4,383 1,492 960 1,096 2,652 4,852 3,170
8,491 11,348 15,115 17,841 21,965 30,261 28,565 32,143 32,787 41,430 46,541
Total Assets 17,524 19,592 22,123 26,609 33,383 39,126 38,130 42,058 43,574 54,679 58,110

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-104 95 -1,275 270 1,462 -3,745 383 -1,065 2,845 -4,499
-378 -124 456 -1,676 -3,163 1,897 -1,201 -973 -1,917 -2,904
461 781 1,660 738 1,905 2,398 1,239 1,331 -378 7,281
Net Cash Flow -20 752 841 -668 205 549 421 -707 550 -122

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 43 31 25 20 14 30 25 57 45 36
Inventory Days 69 58 50 73 42 52 42 76 53 44
Days Payable 116 108 71 85 96 88 90 162 150 96
Cash Conversion Cycle -5 -19 5 8 -39 -6 -22 -30 -53 -16
Working Capital Days -6 -22 -5 -5 -31 10 16 113 68 65
ROCE % 8% 17% 15% 17% 16% 9% 5% 6% 11%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
51.54% 51.54% 51.54% 51.54% 51.54% 51.54% 51.54% 51.53% 51.53% 51.53% 51.53% 51.53%
18.08% 17.04% 16.33% 15.05% 13.45% 15.03% 17.59% 15.29% 14.85% 16.59% 20.21% 20.48%
16.72% 18.15% 19.55% 20.65% 21.94% 21.73% 19.50% 21.16% 22.15% 20.79% 16.51% 14.66%
0.08% 0.08% 0.08% 0.08% 0.08% 0.08% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07%
13.58% 13.20% 12.50% 12.68% 12.99% 11.62% 11.29% 11.94% 11.40% 11.02% 11.66% 13.25%
No. of Shareholders 10,05,18010,19,24810,36,77311,60,87312,42,00811,20,96410,96,22011,30,37211,18,10710,99,98212,06,48213,39,744

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls