Buy Ashok Leyland, target price Rs 164: Axis Securities

Axis Securities has buy call on Ashok Leyland with a target price of Rs 164. The current market price of Ashok Leyland Ltd. is Rs 147.3. Time period given by analyst is one year when Ashok Leyland price can reach defined target.
Ashok Leyland Ltd., incorporated in the year 1948, is a Large Cap company (having a market cap of Rs 43152.25 Crore) operating in Auto sector.

Ashok Leyland Ltd. key Products/Revenue Segments include Commercial Vehicles, Spare Parts & Others, Sale of services, Engine & Gensets, Ferrous Castings, Scrap, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 9957.95 Crore, up 49.16 % from last quarter Total Income of Rs 6675.83 Crore and up 21.78 % from last year same quarter Total Income of Rs 8176.73 Crore. Company reported net profit after tax of Rs 155.26 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 51.54 per cent stake in the company as of 31-Mar-2022, while FIIs owned 13.45 per cent, DIIs 21.94 per cent.