Midcap Truck Company Sold 18.5K Vehicles In Feb ’23 – Stock Up 20% In A Year

On Friday, 24th March 2023, one of the primary indexes of the Indian stock market, Nifty 50, closed at 16,945.05, registering a fall of 0.77%. The index opened at 17,076.20 and touched its daily high of 17,109.45.

On the same date, shares of commercial vehicle manufacturer Ashok Leyland [NSE: ASHOKLEY] closed at Rs. 137.65/- per share, up 0.25% on an intraday basis with a daily volume of 10.2 million.

Latest CV Sales Report Of Ashok Leyland

In the latest press release, the company mentioned it sold 18,571 vehicles, in the combined domestic and export market, in February 2023.

12,668 were Medium and Heavy Commercial Vehicles (M&HCVs). And 5,903, just shy of 6K, were LCVs or Light Commercial Vehicles.

In the same month of the previous year, Ashok Leyland sold 14,657 vehicles in the domestic and export market combined.

So compared to February 2022, the vehicle sales figure of the CV manufacturer is up 27% on a Y-o-Y basis.

Ashok Leyland mentioned in the press release that, in the domestic market, the company sold 17,568 vehicles in February 2023.

Out of which, 5,801 were LCVs, and 11,767 were M&HCVs.

Compared to Feb ’22 sales figure, in which the company sold 13,281 commercial vehicles, the total number of CVs sold in the domestic market is up by 32%.

Ashok Leyland also mentioned in that press release that the main growth driver behind the uptick in CV sales is Medium and Heavy Commercial Buses.

Compared to just 907 buses sold in the domestic and export market combined in February of 2022, the CV manufacturer sold 2,299 M&H Bus units in Feb ’23, up 153%.

For the last 12 months ending in February ’23, the total No. CVs sold by Ashok Leyland stand at 1,68,279. Up 56% on a cumulative basis.

We can see the reflection of the recent sales increase in the company’s Profit and Loss statement.

Ashok Leyland: Turning From Zero To Hero

For FY 21-22, which ended on March ’22, the revenue of Ashok Leyland stood at Rs. 26,237 Crore, whereas the TTM or Trailing Twelve Months revenue figure stands at Rs. 38,397 Crore, up 46.34%.

In FY 21-22, the company was in a loss, and the total loss figure stood at Rs. 285 Crore.

Considering the last quarterly result of December ’22, the PAT or Profit After Tax (also known as Net Profit) on TTM basis stands at Rs. 717 Crore.

EPS of Ashok Leyland for FY 21-22 stood at Rs. (1.22)/- per share, which also turned positive to Rs. 2.15/- per share on a TTM basis.

Ashok Leyland Stock Performance and Return

The share price of Ashok Leyland has appreciated by 20.90% within a year.

On 28th March 2022, shares of Ashok Leyland were trading at Rs. 114.05/- a piece, which rose to Rs. 139.25/- and closed at Rs. 137.65/- per share on 24th March 2023.

The stock price of Ashok Leyland touched its latest 52 Week High of Rs. 169.45/- on 6th September 2022.

The RSI graph on the daily chart stands at 39.70, and on the weekly chart of Ashok Leyland, the Volume Profile suggests that the heavy-transaction zone is around Rs. 145/-.

Investment Of 1 Lakh Rupees In Ashok Leyland

An investment of Rs. 1 Lakh a year ago would have fetched 876 shares of Ashok Leyland at Rs. 114.05/- a piece.

Selling those 876 shares on Friday, 24th March 2022, at Rs. 137.65/- would make that investment of Rs. 1 Lakh worth Rs. 1,20,581.40/-.

But if the investor had sold those 876 shares of Ashok Leyland at the 52 Week High price of Rs. 169.45/-, then the investment of 1 Lakh Rupees would have turned into Rs. 1,48,438.20/-. A profit of 48.57%.

In addition, holding 876 shares of Ashok Leyland would have fetched the investor another Rs. 876/- in the form of dividends.

Ashok Leyland Dividend History Of 2022

On 19th May 2022, Ashok Leyland announced a dividend of Re. 1 per share for its shareholders.

The ex-dividend date of Ashok Leyland in 2022 was 14th July 2022. And the dividend was paid by Ashok Leyland on 10th August 2022.

Ashok Leyland Share Price Forecast

Broker research reports of three major companies, ICIC Direct, LKP Securities, and Emkay Global Financial Services, have given a BUY signal on Ashok Leyland.

The suggested Target Prices of Ashok Leyland are Rs. 185/-, Rs. 186/-, and Rs. 183/-, respectively.

The three broker research reports suggest a maximum of 35% upside if someone invests in Ashok Leyland.

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