News: Ashok Leyland Records Highest Full-Year Revenue- Shenu Agarwal, Managing Director And CEO Comments

Highlights: 

• - Ashok Leyland Limited reported a revenue of Rs. 11626 Cr in Q4 FY ’23 compared to Rs. 8,744 Cr for the same period last year.
• - According to the brand, the Revenue grew by 33 per cent year on year.
• - The brand has mentioned that the company’s truck market share for Q4 FY ’23 has improved to 32.7 per cent.

Renowned commercial truck and bus manufacturer, Ashok Leyland Limited which is a part of the Hinduja Group, reported a revenue of Rs. 11626 Cr in Q4 FY ’23 compared to Rs. 8,744 Cr for the same period last year. According to the brand, the Revenue grew by 33 per cent year on year.

Further, the brand has mentioned that the company’s truck market share for Q4 FY ’23 has improved to 32.7 per cent vis-a-vis 30.6 per cent in Q4 FY ’22 while the Bus market share for Q4 FY23 has improved to 27.1 per cent as against 26.4 per cent for the same period previous year.

Moreover, the brand claims that its domestic LCV volumes grew by 18 per cent in Q4 FY ’23 to 18840 nos. (15971 nos) as well. These figures are backed by the high demand for its AVTR range and the launch of the CNG range in ICVs.

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Ashok Leyland Comments On Growth: 

Dheeraj Hinduja, Executive Chairman, of Ashok Leyland Limited said, “The CV industry is buoyant due to favourable macroeconomic factors and 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. 

Shenu Agarwal, Managing Director & CEO, of Ashok Leyland Limited says “It has been a truly wholesome performance. We have been able to achieve growth in market share, across geographies and across product segments, along with significant improvement in our profitability. 

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All this demonstrates our strong fundamentals - a competitive and wide product portfolio, a strong and widespread network and a talented and passionate team. While we shall continue to pursue better realisations even as we expand market share, our resolute focus shall remain on bringing deeper efficiency and cost improvement. 

We have generated close to INR 2287 Cr of cash this quarter owing to better profits and focused management of working capital, which gives us the ability to further accelerate our investment in future products and technologies,” He added.