Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 36224.41 Crore) operating in Auto sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 8176.73 Crore, up 36.27 % from last quarter Total Income of Rs 6000.28 Crore and up 59.48 % from last year same quarter Total Income of Rs 5127.11 Crore. Company reported net profit after tax of Rs 374.66 Crore in latest quarter.
Investment Rationale
Valuations at 19x/10.1x FY22E/FY23E EV/EBITDA are at an early recovery cycle. This does not fully reflect in AL’s focus on adding new revenue streams and profit pools. It maintains Buy with a TP of INR155/share (12x FY23E EV/EBITDA).
Promoter/FII Holdings
Promoters held 51.1 per cent stake in the company as of March 31, 2021, while FIIs held 18.8 per cent, DIIs 16.7 per cent and public and others 13.5 per cent.
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