Ashok Leyland Gets Bus Order from Tamil Nadu State Transport Corporation
Commercial vehicle manufacturer Ashok Leyland Ltd.'s stock saw slight increases following the company's announcement that it had secured a bus order from the Tamil Nadu State Transport Corporation.
543 BS-VI diesel chassis and completely constructed buses are being supplied as part of this deal.
It is anticipated that the automaker would complete this agreement within six months, from June to December 2025.
Ashok Leyland stated that the order was granted following a conventional business procedure and a normal tender process.
The company's net profit increased by 38.4 percent in Q4 of the March quarter.
In the same quarter last year, the profit increased from Rs.900 crore to Rs.1,246 crore. The Rs.173 crore tax benefit helped to boost profits.
EBITDA, or earnings before interest, tax, depreciation, and amortization, increased by 12.5 percent year over year to Rs.1,791 crore for the quarter.
Of the 44 analysts covering Ashok Leyland, 34 have a "buy" rating, seven advise a "hold," and three advise a "sell" recommendation.
At Rs.236.67, Ashok Leyland's shares are up 0.2 percent at the moment. Over the past month, the stock has increased by 5.5 percent.
One of the top producers of commercial vehicles in India is Ashok Leyland, a flagship company of the Hinduja Group. It was established in 1948 and has its headquarters in Chennai.
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It manufactures military equipment, trucks, buses, and light vehicles. The business operates in more than 50 countries, catering to both local and foreign customers. Ashok Leyland, renowned for its inventiveness in the transportation industry, has been instrumental in India's public transit and logistics. In line with India's sustainability objectives, it runs production plants in several places and prioritizes technology-driven solutions, such as electric transportation and alternative fuels.