Sayantan Chakraborty
The Commercial Vehicle manufacturer Ashok Leyland reported its Q4FY23 earnings on 23rd May 2023. Both on a sequential and Y-o-Y basis, the consolidated Q4 result of Ashok Leyland performed well in the Revenue, EBITDA, Net Profit, and EPS front.
The company’s board of directors also recommended a dividend of 260% for FY 2023. The dividend will be paid on or before 19th August 2023 if approved at the forthcoming Annual General Meeting. Read the details below.
Stock Price Of Ashok Leyland React To The Q4FY23 Result
The street didn’t respond well to the quarterly numbers reported by Ashok Leyland on 23rd May.
The stock price of Ashok Leyland on 24th May 2023 opened at ₹154.90/- a piece. After registering a daily low of ₹148.30/-, the shares of Ashok Leyland closed the day at ₹150.40/- while recording an above-average daily volume of 22.5 million shares.
Quarterly Financial Result Of Ashok Leyland
On 23rd March 2023, one of the major CV manufacturers of India, Ashok Leyland, reported its consolidated fourth quarter financial result.
The Revenue From Operation of Ashok Leyland for the quarter ending on 31st March 2023 stood at ₹13,202.55 Crore, up 32.99% on a Y-o-Y basis against ₹9,926.97 Crore reported for the March 2022 quarter.
Sequentially, the Revenue From Operation of Ashok Leyland for the March 2023 quarter was up 26.95% against ₹10,399.74 Crore reported for the quarter ending on 31st December 2022.
The consolidated EBITDA of Ashok Leyland for the March 2023 quarter stood at ₹1,958 Crore, up 63.98% on a Y-o-Y basis against ₹1,194 Crore reported for the quarter ending on 31st March 2022.
The consolidated Q4FY23 EBITDA of Ashok Leyland was up 45.68% on a sequential basis against ₹1,344 Crore EBITDA reported for the December quarter of 2022.
The consolidated Profit After Tax or PAT of Ashok Leyland for the quarter ending on 31st March 2023 stood at ₹802.71 Crore, up 408.52% on a Y-o-Y basis against ₹157.85 Crore reported for the March 2022 quarter.
Sequentially, the consolidated Net Profit of Ashok Leyland for the March 2023 quarter was up 128.55% against ₹351.21 Crore reported for the quarter ending on 31st December 2022.
The EPS of Ashok Leyland’s shares jumped multifold on both sequential and Y-o-Y basis.
The consolidated EPS of Ashok Leyland for the fourth quarter of FY23 stood at ₹2.56/-, up 433.33% on a Y-o-Y basis against ₹0.48/- reported for the quarter ending on 31st March 2022.
The Q4FY23 EPS of Ashok Leyland was up 134.86% on a sequential basis against ₹1.09/- reported for the December quarter of 2022.
In the press release, Mr. Dheeraj Hinduja, the Executive Chairman of Ashok Leyland, said – “The CV industry is buoyant due to favourable macroeconomic factors and a healthy demand from the end-user industries. This trend is expected to continue alongside growth in core sectors such as construction & mining, agriculture, increased capital outlay for infrastructure projects and pent-up replacement demand.”
He also said – “The focus on International Operations, Defence, Power Solutions and Parts businesses will continue to balance the volatility of our core business.”
On the topic of Electric Vehicles, Mr. Hinduja said – “With momentum gradually picking up in electric vehicles, Switch Mobility is well poised to complement the developments at Ashok Leyland across a spectrum of alternate propulsion systems.”
Ashok Leyland Declares Dividend For Its Shareholders
According to the corporate filling made by the auto major on 23rd May 2023, the Board of Directors of Ashok Leyland recommended a 260% dividend per equity share with a face value of ₹1.00/- each for FY 2023 – which equates to a dividend of ₹2.60/- per share.
Record Date Of The Ashok Leyland Dividend For FY23
For the purpose of paying dividends, Ashok Leyland has fixed 7th July 2023 as the Record Date for paying dividends.
It means you should buy Ashok Leyland shares before 7th July 2023 to be eligible for the dividend of ₹2.60/-. You will not be eligible for the FY23 dividends of Ashok Leyland if you buy Ashok Leyland shares on 7th July 2023.
When Will Ashok Leyland Pay Dividend In 2023?
If approved at the upcoming AGM, Ashok Leyland will pay a dividend of ₹2.60/- per share to its shareholders on or before 19th August 2023.
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