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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Ashok Leyland Limited    ASHOKLEY   INE208A01029

ASHOK LEYLAND LIMITED

(ASHOKLEY)
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Delayed Quote. Delayed NSE India Stock Exchange - 01/27 02:51:23 am
115.25 INR   -1.83%
01/03ASHOK LEYLAND : Sales Rise 14% in December
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01/01Indian shares kick off 2021 with record closing highs
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01/01Indian shares kick off 2021 with record closing highs
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India's auto sales to take 3-4 years to return to peak levels

07/15/2020 | 12:46am EST
A worker climbs a container to close its window after unloading cars at a warehouse on outskirts of Ahmedabad

India's auto sales volume will not return to the peak levels seen in 2018 for another three-to-four years, an industry body executive said on Tuesday, as the COVID-19 pandemic has aggravated disruption in a sector already hit by weak demand.

In the fiscal year that began on April 1, sales of cars, sport utility vehicles (SUVs), motorbikes and trucks have already fallen 75% from a year ago to about 1.5 million vehicles, data released by the Society of Indian Automobile Manufacturers (SIAM) showed.

That compares with a peak of more than 26 million units in the fiscal year 2018-19 before a slowdown in consumer demand last year pushed auto sales 18% lower to 21.5 million.

"The impact of COVID-19 is going to be very harsh on the auto industry. As of now, we are staring into a very deep slowdown," Rajan Wadhera, president of SIAM, told reporters.

"We don't see the situation becoming normal - reaching 2018 volumes - for another 3-4 years," he said.

India went into lockdown in late March to prevent the spread of the novel coronavirus, forcing automakers to suspend manufacturing. While production has resumed, with restrictions, plant utilisation levels are low at 20%-30%.

They are expected to rise to 40% this month, Wadhera said, but supply chains are still disrupted and some cities are facing fresh lockdown restrictions as cases of the novel coronavirus continue to rise.

The southern state of Karnataka, home to Toyota Motor Corp's car plant, went into a week-long lockdown starting Tuesday, forcing the Japanese automaker to temporarily halt production.

Wadhera said there was some pent up demand for cars, but momentum could be lost unless the government acts to boost demand. SIAM is lobbying for a tax cut on auto sales and a scheme to incentivise the scrapping of old vehicles, he said.

(Reporting by Aditi Shah in New Delhi and Chandini Monnappa in Bengaluru; Editing by Bernard Orr, Sherry Jacob-Phillips and Barbara Lewis)

By Aditi Shah and Chandini Monnappa

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASHOK LEYLAND LIMITED -2.00% 115.25 Delayed Quote.23.00%
BAJAJ AUTO 0.61% 4194.95 Delayed Quote.21.05%
HERO MOTOCORP LIMITED 2.85% 3472.85 End-of-day quote.11.69%
MAHINDRA AND MAHINDRA LTD 0.37% 795 Delayed Quote.10.26%
MARUTI SUZUKI INDIA LTD -0.03% 7972 Delayed Quote.4.34%
TATA MOTORS LIMITED -3.58% 279.05 End-of-day quote.51.91%
TOYOTA INDUSTRIES CORPORATION 1.64% 8680 End-of-day quote.5.98%
TOYOTA MOTOR CORPORATION 0.22% 7677 End-of-day quote.-3.52%
TVS MOTOR COMPANY LIMITED 3.92% 542.75 End-of-day quote.11.78%
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Financials
Sales 2021 144 B 1 972 M 1 972 M
Net income 2021 -1 927 M -26,5 M -26,5 M
Net Debt 2021 26 857 M 369 M 369 M
P/E ratio 2021 -210x
Yield 2021 0,09%
Capitalization 345 B 4 726 M 4 734 M
EV / Sales 2021 2,59x
EV / Sales 2022 1,69x
Nbr of Employees 12 005
Free-Float 61,8%
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Number of Analysts
Average target price
Last Close Price 117,40 
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Managers and Directors
NameTitle
Vipin Sondhi Chief Executive Officer, MD & Director
Dheeraj Gopichand Hinduja Executive Chairman
Nitin Seth Chief Operating Officer
Anuj Kathuria Chief Operating Officer
Gopal Mahadevan Chief Financial Officer & Director
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