Shares of this large automobile large cap company gained almost 1 percent after news came that the company got an order of 1,666 buses from Tamil nadu state transport undertakings.
On 13th october, shares of Ashok Leyland Ltd closed at Rs.175.60 up by 0.63 percent from previous closing price of Rs. 174.50 per share.
Such bullish stock price movements were observed after the company announced through a regulatory filing on Bombay stock exchange (BSE) that they have bagged an order for 1,666 buses from Tamil Nadu State Transport Undertakings. Company will deliver 1,666 BSVI diesel fuel type passenger bus chassis for Mofussil, Town & Hill Operations.
Looking at the financial statements, the company’s revenue increased by 14.42 percent to Rs. 9,691.32 crores in Q1FY24 from 8,470.23 crores Q1FY23, in the same time period net profit went to Rs. 543.89 crores from 5.33 crores.
Talking about the financial ratios, the company reported return on equity (ROE) of 17.26 percent and return on capital employed (ROCE) of 12.34 percent in the last financial year.
Ashok Leyland is the flagship Company of the Hinduja group. The company is engaged in the manufacturing of domestic medium and heavy commercial vehicle segments. The company has a strong brand and well-diversified distribution and service network across the country and has a presence in 50 countries.
Written by: Vinit Israni
