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ASHOK LEYLAND Announces Quarterly Results (4QFY18); Net Profit Up 79.0%

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ASHOK LEYLAND Announces Quarterly Results (4QFY18); Net Profit Up 79.0%
Mon, 21 May

ASHOK LEYLAND has announced its results for the quarter ended March 2018. Here is a detailed performance review of the same:

ASHOK LEYLAND Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m70,57271,13287,72523.3%24.3%
Other incomeRs m40438057752.1%43.0%
TurnoverRs m70,97671,51188,30223.5%24.4%
ExpensesRs m63,27363,24777,39822.4%22.3%
Gross profitRs m7,2997,88210,38631.8%42.3%
DepreciationRs m1,3951,3501,4638.3%4.9%
InterestRs m423335201-40.2%-52.6%
Profit before taxRs m5,8856,5769,29941.4%58.0%
TaxRs m2,1572,0792,62626.3%21.7%
Profit after taxRs m3,7284,4976,67448.4%79.0%
Gross profit margin%10.311.111.8
Effective tax rate%36.631.628.2
Net profit margin%5.36.37.6
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 24.3% on a year-on-year (YoY) basis. The expenses were up by 22.3% YoY during the same period.
  • The company's operating profit increased by 42.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.8% in 4QFY18 as against 10.3% in 4QFY17.
  • Depreciation charges and finance costs increased by 4.9% YoY and 52.6% YoY, respectively.
  • Other income increased by 43.0% YoY during the quarter.
  • Net profit for the quarter increased by 79.0% YoY. Net profit margins during the quarter increased from 5.3% in 4QFY17 to 7.6% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 23.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.4% QoQ during the same period.
  • The company's operating profit declined by 31.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.8% in 4QFY18 as against 11.1% in 3QFY17.
  • Net profit for the quarter increased by 48.4% QoQ, while net profit margins increased from 5.2% in 3QFY17 to 7.6% in 4QFY18.

To see how ASHOK LEYLAND has performed over the last eight quarters, please visit here.

ASHOK LEYLAND Share Price Performance

Over the last one year, ASHOK LEYLAND share price has moved up from Rs 85.0 to Rs 133.9, registering a Gain of Rs 48.9 or around 57.6%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 23,881.4 (down 1.9%). Over the last one year it has moved up from 23,141.6 to 23,881.4, a gain of 739.7 points (up 3.2%).

Overall, the S&P BSE SENSEX is down 0.7% over the year.

Current Valuations

At the current price of Rs 133.9, the price to earnings (P/E) ratio of ASHOK LEYLAND stands at 24.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.0 times.

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