Ashok Leyland Q4 net profit slips 17% to ₹751 cr.
The Hindu
ALL Q4 profit drops 17%
Ashok Leyland Ltd., (ALL) reported a 17% decline in fourth-quarter standalone net profit to ₹751 crore.
“Q4 of FY22 witnessed one-off exceptional gain of ₹468 crore,” CFO Gopal Mahadevan said explaining the fall in profit. “Normalised net profit would be ₹433 crore... so, the current year net profit is higher by 73%,” he contended.
“We have done well on all fronts. Better performance is due to increase in revenue and consequent improvement in EBITDA margins. ALL recorded highest-ever revenue of ₹36,144 crore for FY23,” Mr. Mahadevan said.
He also said that ALL generated cash of ₹963 crore and ended with a net cash surplus of ₹243 crore against net debt of ₹720 crore. For FY24, the company would be incurring a capex of ₹600-750 crore for capacity augmentation.
During Q4, revenue from operations rose to ₹11,626 crore, from ₹8,744 crore, and cost of materials increased by 26% to ₹8,080 crore, the commercial vehicle manufacturer said in a regulatory filing.
The board recommended a dividend of ₹2.60 per share.
ALL’s truck market share improved to 32.7 % from 30.6%. Bus market share was up marginally at 27.1% (26.4%). Domestic light commercial vehicle (LCV) vehicle volume grew by 18% to 18,840 units, said MD & CEO Shenu Agarwal.
Bangladesh asks Adani Power to resume full supplies from Jharkhand plant amid payment disputes and low demand.
Rupee strengthens to 86.84 against the dollar amid trade war fears, market volatility, and RBI intervention.
WazirX announced the completion of its asset rebalancing process and urged investors to support its restructuring scheme.
Vespa introduces luxury scooter portfolio in India, unveiling special editions inspired by Indian artistry and opulence.
Dentzz Dental utilizes AI for precision care, leading to increased efficiency, accuracy, and patient satisfaction in dental treatments.
Former CEA Arvind Subramanian critiques RBI policies, fiscal framework, income tax cuts, and weak private investment in India.
President Trump imposes 25% tariffs on steel and aluminium imports, affecting India and prompting concerns over trade relations.
CEA highlights Southern States' economic prowess, urging benchmarking against global standards and emphasizing need for skill improvement.
The Union Budget unveiled on February 1, 2025, has come at a time of unprecedented global uncertainty and a flagging domestic economy. The real GDP growth is estimated at 6.4% for 2024-25 and between 6.3-6.8% for 2025-26, a far cry from >8 percent growth required annually to make India a developed nation by 2047. While much attention has been devoted to the demand stimulus through income tax cuts, not enough is said about the proposed reforms in urban development, tariff rationalisation, and regulatory simplification aimed at making Indian cities and corporates more competitive. Since the majority of economic activity is located in cities (urban areas account for ~55% of GDP) and produced by large corporates (~40% of the national output and 55% of India’s exports), the above-mentioned reforms have a pivotal role in improving India’s trend growth rate. Below we unpack each reform.
IHCL unveils Taj Bandstand luxury hotel project in Mumbai after 17 years, set to be iconic landmark.
Government and LIC selling majority stake in IDBI Bank, with due diligence process underway for potential investors.
Prime Minister Modi's meetings with President Trump may lead to tariff reductions on U.S. goods like pecan nuts.
President Trump announces 25% tariff on steel and aluminium imports, minimal impact on Indian steel industry.