Ashok Leyland share price: Fundamentals and Technical details highlighted
Sharekhan says Ashok Leyland Q3 FY21 results were below expectations, mainly due to lower than-expected recovery in EBITDA margins. Net revenue grew by 19.9% yoy to Rs 4814 cr in Q3 FY21, led by 7.1% growth in volumes and 11.9% growth in average realisations. Ashok Leyland reported EBITDA margin contraction of 33 bps yoy at 5.3% for the Q3 FY21, which was lower by 233 bps from our expectations. Ashok Leyland share price closed at Rs 114, up Rs 4.25 or 3.9%.
Sharekhan have revised Ashok Leyland’s volume estimates upwards on expectation that the CV industry is ready for an upturn. Sharekhan expects Ashok Leyland’s EBIDTA margin will improve aided by benefits: Reuters