Earnings Call for Q2FY22 of Ashok Leyland
Conference Call with Ashok Leyland Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.15-11-2021
15-11-2021
Q2FY22 Quarterly Result Announced for Ashok Leyland Ltd.
Highlights: Ashok Leyland’s Revenues increase 57% to Rs. 4458 Cr in Q2. Reports an EBITDA of 3.0% Ashok Leyland, reported a 57% increase in YoY quarter revenues in Q2 FY’22. The revenues for the quarter stood at Rs. 4458 crores as against Rs. 2837 crores in Q2 FY’21. Ashok Leyland’s domestic MHCV volume at 11988 nos. grew by 71% over the same period last year (6994 nos). Ashok Leyland’s domestic LCV volumes for Q2 FY’22 at 13328 nos. is higher than Q2 FY’21 by 22% (10952 nos.). Export volumes (MHCV & LCV) for Q2 FY’22 at 2227 nos. is higher than Q2 FY’21 by 49 % (1491 nos.). The company narrowed its net loss to Rs. 83 Cr. for Q2 FY’22, vis-a-vis a net loss of Rs. 147 crores in Q2 FY’21. Net Cash generated for the quarter was Rs 1063 cr which was used to pay down debt. Net Debt now stands at Rs.3112 Cr in Q2 (Rs. 4175 Cr in Q1; debt equity 0.6 times) The company saw strong demand for the AVTR range – India’s first modular truck platform, and this demand is expected to further improve, mirroring the expected increase in economic activity. In the LCV segment, the recently launched Bada Dost has been well accepted by the customers and the company is ramping up production in line with market demand. Going forward, last-mile connectivity demand propelled by e-commerce is likely to continue supporting ICV and LCV truck volumes. Other businesses like Defence and After-market continue to contribute strongly to the top line of the Company. Switch Mobility, the EV arm of Ashok Leyland continues to grow its order book in India, UK and EU and has generated significant interest at COP26, being the first automotive manufacturer to commit to achieving net zero carbon in its operations for 2021. Mr. Vipin Sondhi, MD & CEO, Ashok Leyland, said “The industry has seen signs of volume recovery in Q2 FY’22 over the same period last year, and we remain confident and optimistic about the future. The economy is showing signs of return to growth and we at Ashok Leyland will continue to build competitive products and organisational capabilities for future growth. Our focus will be to continuously improve our market share and gain it profitably and sustainably. Our global market expansion strategy is also in place, as we continue to focus on achieving our vision of being among the top 10 global CV makers. I am happy with the progress made on the EV front by Switch. In addition, our continued focus will be on ensuring that the three pillars of ESG, Environmental, Social, and Governance are cornerstones of our business processes and help us achieve our sustainability agenda.” Mr. Gopal Mahadevan, Director & CFO, Ashok Leyland, added, “We have been driving a portfolio approach to our business, and apart from our core business, our other businesses like Aftermarket, Power solutions, Defence and Customer Solutions, have contributed increasingly to our revenue. We have generated close to INR 1063 Cr in cash this quarter owing to improved working capital, and we will continue to focus on driving operational efficiency.” The management is keeping a close watch on the global semi-conductor supply situation and commodity prices. Result PDF15-11-2021
Ashok Leyland Ltd - 500477 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed copies of the newspaper publications of the un-audited financial results for the quarter and six months ended September 30, 2021 published in BUSINESS STANDARD and BUSINESS LINE (all editions) in English language and DINAMANI (Chennai Edition) in Tamil language on November 13, 2021 The above information is also made available on the website of the Company at www.ashokleyland.com. We request you to take the same on record.15-11-2021
Ashok Leyland trims loss in Q2 on recovery in truck market
But cost increase weighs on performance12-11-2021
ASHOK LEYLAND LTD. - 500477 - Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
This is to inform that the Board of the Directors of the Company at their meeting held today approved the following: a) Transfer of Electric Vehicles (EV) business of the Company to M/s. Switch Mobility Automotive Limited, India. b) Transfer of eMaaS (E-Mobility As A Service) business of the Company to M/s. Ohm Global Mobility Private Limited, India.12-11-2021
ASHOK LEYLAND LTD. - 500477 - Announcement under Regulation 30 (LODR)-Change in Directorate
Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors at their meeting held today has appointed Mr. Shom Ashok Hinduja (DIN: 07128441) as an Additional Director (Non-Executive, Non-Independent) of the Company with immediate effect. His appointment as a Director on the Board is subject to the approval of the shareholders. The disclosure as required under the Regulation 30(6) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 read with SEBI circular CIR/CFD/CMD/4/2015 dated September 9, 2015 is enclosed as Annexure. We hereby confirm that Mr. Shom Ashok Hinduja is not debarred from holding the office of Director by virtue of any Order of SEBI or any other authority.12-11-2021
Ashok Leyland Ltd - 500477 - Financial Results For The Quarter And Six Months Ended September 30, 2021
This is to inform that at the meeting held today, the Board of Directors of the Company have approved the standalone and consolidated unaudited financial results of the Company for the quarter and six months ended September 30, 2021. A copy of the standalone and consolidated unaudited financial results along with Independent Auditors' Limited Review Reports and a copy of Press Release being released in this regard are attached herewith.12-11-2021
ASHOK LEYLAND LTD. - 500477 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the schedule of Conference Call on Monday, November 15, 2021 at 9.30 a.m. (IST). Please note that the aforementioned schedule of meeting shall be subject to changes, if any. This is for the information of the stock exchanges and the members.10-11-2021
Ashok Leyland Ltd - 500477 - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate
In pursuance of Regulation 39 (3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the share certificates held by the following shareholder(s) has been reported lost/misplaced, with/without accompanied by Transfer Deed(s) : Sl. No. Folio No. Name No. of shares Cert. No. Dist. Nos. (From - To ) Received on 1 29123 SHEELA CHINTAMANI GUPTE MAST NEELESH CHINTAMANI GUPTE MINOR) REP BY C Y GUPTE 1200 1200 S029123 47958 473482171 - 473483370 2658162770-2658163969 02/11/2021 2 31162 KAILASH CHAND AGRAWAL MRS TARAMANI AGRAWAL 500 49042 2658970360-2658970859 02/11/2021 Please notify the above to all the members of the exchange and confirm.04-11-2021
Ashok Leyland Ltd - 500477 - Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (Listing Regulations)
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Hinduja Tech Limited (HTL) has ceased to be a wholly owned subsidiary of the Company, consequent to the exercise of stock options by HTL employees pursuant to 'Hinduja Tech Limited Employees Stock Option Plan 2017'. We further wish to inform you that Hinduja Tech Limited continues to be the subsidiary of the Company. Since the reduction of the Company's stake in HTL is not on account of sale or disposal or any other restructuring, the disclosure under Para A of Part A of Schedule III of Listing Regulations read with SEBI Circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015 will not apply. Kindly take the same on record.01-11-2021