140.8900 2.13 (1.54%)
NSE Sep 19, 2025 15:31 PM
Volume: 29.8M
 

140.89
1.54%

Ashok Leyland

SPA Research
Ashok Leyland Ltd. (ASHLEY) reported ~57.5% YoY jump in net sales in 3QFY18 to INR 71132 mn due to 41.2%/44.6% growth in M&HCV; and SCV volume. EBITDA has grown by 101.9% to INR 7882 mn, while EBITDAM improved by 244 bps despite increase in RM cost. PAT for the quarter stood at INR 4497 mn (Up 178% YoY). We expect ASHLEY to register M&HCV; Volume/Revenue/PAT growth of 10.6%/ 18%/19.8%. At CMP of INR 127, the stock is trading at EV/EBITDA of 11.5x. We have valued standalone business at 12x FY19 EBITDA and...
Ashok Leyland Ltd. is trading above all available SMAs
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