Ashok Leyland has reported a good set of numbers for Q4FY21 by Milan Desai, Angel Broking
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Below are Quote on Ashok Leyland has reported a good set of numbers for Q4FY21 by Milan Desai, Lead Equity Analyst, Angel Broking
Ashok Leyland has reported a good set of numbers for Q4FY21. The top-tine grew by 82%/45% YoY/QoQ to Rs. 7,000 crores against estimates of Rs. 6,200 crores. EBITDA grew by 192%/110% YoY/QoQ to Rs. 534 crores ahead of our estimate of Rs. 380 crores and EBITDA margins expanded by 286bps/236bps YoY/QoQ despite negative RM pressures (up 581bps/248bps YoY/QoQ)owing to operating leverage benefits. Adj. PAT came in at Rs. 213 crores against our estimate of Rs. 115 crores. We maintain our positive view on the stock considering rebound in CV sales due to full opening up of the economy.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
