Q3 2025 Ashok Leyland Ltd Earnings Call Transcript

Feb 12, 2025 / 11:30AM GMT

Release Date Price: ₹109.68 (+7.68%)

Transcript

Key Points

Positve

Ashok Leyland Ltd (BOM:500477) reported a 31% year-on-year increase in net profit for Q3 FY25.
The company's EBITDA margin improved to 12.8% from 11.6% in the previous quarter.
Export volumes grew by 33% year-on-year in Q3, driven by strong local presence in GCC, SARC, and African markets.
Ashok Leyland Ltd (BOM:500477) achieved all-time high Q3 revenues of INR9,479 crore.
The company has a robust order book for its electric vehicle subsidiary, Switch Mobility, with over 1,800 buses, including export orders.

Negative

Domestic MHCV volume was down 1% year-on-year, and domestic MHCV trucks volume decreased by 2% year-on-year.
LCV domestic volume in Q3 FY25 was lower by 9% year-on-year.
Defense revenue declined to INR100 crore in Q3 from INR150 crore in the previous quarter.
The UK electric bus market remains uncertain, impacting Switch UK's performance.
Material costs as a percentage of revenue were high at 71.5%, despite a slight improvement from the previous year.

Operator

Ladies and gentlemen, good day, and welcome to 3Q FY25 earnings conference call of Ashok Leyland Limited hosted by Emkay Global Financial Services. (Operator Instructions)

I now hand the conference over to Mr. Chirag Jain, from Emkay Global Financial Services. Thank you, and over to you, sir.

Chirag Jain

Emkay Global Financial Services Ltd - Analyst

Thank you, Steve. Good evening, everyone. On behalf of Emkay Global, I would like to welcome you all to the 3Q FY25 post earnings conference call of Ashok Leyland Limited. Today, from the management team, we have with us Mr. Shenu Agarwal, Managing Director and CEO; and Mr. K.M. Balaji, Chief Financial Officer.

I'll now hand over the call to Mr. Shenu Agarwal for his opening remarks, post which we will open the floor for Q&A. Over to you, sir.

Shenu Agarwal

Ashok Leyland Ltd - Chief Executive Officer, Managing Director, Director

Good afternoon, ladies and gentlemen. Thank you for your continued trust in Ashok Leyland. I'm pleased to report our

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