Quarterly Results: Ashok Leyland Ltd

Technical View: 

Ashok Leyland Ltd., is currently trading at Rs. 91.85, up by 2.2 points or 2.45% from its earlier closing of Rs. 89.65 on the BSE.
The scrip has touched a high and low of Rs. 92.1 and Rs. 88.3 respectively, after opening at 89.65. Altogether 18222526(NSE+BSE) shares were traded on the counter; and the stock is currently trading below its 200 DMA.

Standalone Results Q2FY17: (Rs. in crore)


***EBITDA margin change in bps

Street estimates have been beaten by Ashok Leyland Ltd.’s standalone Q2FY17 numbers . Revenue has come in 8.2% greater than the estimate of Rs 4538 cr. EBITDA stands 9.5% greater than estimate of Rs 490 cr. Net profit is 14.4% greater than the estimated figure of Rs 257 cr.

The quarter's revenue has declined 6.9% yoy to Rs 4912 cr. 

Ashok Leyland's EBITDA  has dropped by 14% yoy to Rs 536 cr and EBITDA margins have tumbled by 91 bps yoy to 10.9%. This was majorly owing to 15.3% surge in other expenses and lower sales volume.

The company's net profit has dropped 26.7% yoy over Q2FY16's adjusted PAT to Rs 294 cr. This was triggered by 30.4% yoy drop in other income.