Yes Securities maintains ‘buy’ on Ashok Leyland, target price Rs 100

Yes Securities has maintained its ‘buy’ rating on Ashok Leyland in the long term with a target price of Rs 100. Shares of Ashok Leyland ended at Rs 81.55 on Thursday while the BSE sensex closed 106.11 points down (-0.26%) at 41,459.79.


Company Financials



For the quarter ended 31-12-2019, the company has reported a Consolidated sales of Rs 5148.15 Crore, up 2.29 % from last quarter Sales of Rs 5033.06 Crore and down -30.48 % from last year same quarter Sales of Rs 7405.78 Crore Company has reported net profit after tax of Rs 56.64 Crore in latest quarter.

The company’s top management includes Dr.Andreas H Biagosch, Mr.Sudhindar K Khanna, Mr.Shardul S Shroff, Mr.Sanjay K Asher, Mr.R J Shahaney, Mr.Manisha Girotra, Mr.Jose Maria Alapont, Mr.Jean Brunol, Mr.Dheeraj G Hinduja, Mr.D L Balaji Rao, Dr.Andrew C Palmer, Mr.Vinod K Dasari. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors As on 31-12-2019, the company has a total of 2,935,527,276 shares outstanding.

Investment Rationale

The brokerage is expecting more pressure on pricing and material costs in the near term. The results seem to suggest that discounting continues to be elevated, said the brokerage. Yes Securities stock outlook remains constructive.