Ashok Leyland bags new international order

Ashok Leyland has won a contract for 3600 vehicles worth USD 200 million from the government of Cote D'Ivoire, a west African country formerly known as the Ivory Coast. The contract is being funded by EXIM Bank of India (Export Import Bank of India) and is pending final clearance from the respective governments.

Ashok Leyland's new order constitutes 8.47 per cent of the total revenue base as of FY15.The order includes supply of trucks and buses, which will be delivered in the next one year. The company will use the awarded order to build its presence in West Africa for future prospects.

On the financial front, Ashok Leyland's revenue increased by 55.52 per cent to Rs 4940 crore in Q2FY16 as compared to the same period in the previous financial year. Its sales volume in Medium and Heavy Commercial Vehicles (M&HCV) increased by 64.13 per cent and stood at 29884 numbers in Q2FY16 on yearly basis. The company's Light Commercial Vehicles (LCV) volume rose by 10.81 per cent to 7947 numbers in Q2FY16 as compared to the same period in previous financial year. The EBITDA of Ashok Leyland boosted by 153.60 per cent to reach Rs 594 crore in Q2FY16 as compared to the same period in previous fiscal year. The company's PAT increased by 137.64 per cent to Rs 287 crore in Q2FY16 as compared to the previous financial year.

The shareholding pattern of Ashok Leyland indicates that the FII holdings expanded by 39 basis points to 20.60 per cent while DII holdings contracted by 126 basis points to 11.09 per cent during September 2015 quarter. The share price of the company increased by 3.67 per cent on bourses in early trades and is trading at Rs 96.4 on intraday basis.

Ashok Leyland has a business of commercial vehicles and related components. Its product portfolio includes buses, trucks, light vehicles, defense vehicles and power solutions. The Company offers buses with seating capacity of 18 to 80. The Company offers a range of trucks for diverse applications such as long-haul, mining and construction, and distribution. It offers LCV’s such as DOST, PARTNER, STiLE and MiTR mainly for transport and goods carrying purpose. Ashok Leyland designs, develops and manufactures specialized defence vehicles for the armed forces. It offers customized transport solutions on the COLT and SUPER STALLION platforms that range from Rapid Intervention Vehicles, Field Artillery Tractors, Light Recovery Vehicles, Water Bowsers, Truck Fire Fighters and Fuel Dispensers.