Buy Ashok Leyland, target Rs 81: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Ashok Leyland Ltd. with a target price of Rs 81. The current market price of Ashok Leyland Ltd. is Rs 75.95. Time period given by the analyst is Intra Day when Ashok Leyland Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 75. Ashok Leyland Ltd., incorporated in 1948, has a market cap of Rs 22750.34 crore.

Ashok Leyland Ltd. key Products/Revenue Segments include Commercial Vehicles which contributed Rs 25307.78 Crore to Sales Value (85.95 % of Total Sales), Spare Parts & Others which contributed Rs 1880.47 Crore to Sales Value (6.38 % of Total Sales), Sale of services which contributed Rs 830.30 Crore to Sales Value (2.81 % of Total Sales), Ferrous Castings which contributed Rs 516.38 Crore to Sales Value (1.75 % of Total Sales), Engine & Gensets which contributed Rs 468.04 Crore to Sales Value (1.58 % of Total Sales), Other Operating Revenue which contributed Rs 257.16 Crore to Sales Value (0.87 % of Total Sales), Scrap which contributed Rs 122.60 Crore to Sales Value (0.41 % of Total Sales) and Export Incentives which contributed Rs 61.16 Crore to Sales Value (0.20 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 6514.73 Crore, down -33.20 % from last quarter Sales of Rs 9752.98 Crore and down -7.51 % from last year same quarter Sales of Rs 7043.96 Crore Company has reported net profit after tax of Rs 273.87 Crore in latest quarter. The company’s top management includes Dr.Andreas H Biagosch, Dr.Andrew C Palmer, Mr.Dheeraj G Hinduja, Mr.Gopal Mahadevan, Mr.Jean Brunol, Mr.Jose Maria Alapont, Mr.Manisha Girotra, Mr.R J Shahaney, Mr.Sanjay K Asher. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditoRs As on 30-09-2019, the company has a total of 2,935,527,276 shares outstanding.