Ashok Leyland’s shares dropped over 2% following the company’s November 2024 sales report, which showed a modest 1% year-on-year (YoY) growth in total vehicle sales, reaching 14,137 units. While the company’s domestic sales declined, strong performance in the medium and heavy commercial vehicle (M&HCV) bus segment helped offset the downturn.
Key Highlights:
- Domestic Sales: Total of 12,473 units sold, down 4% YoY.
- M&HCV Trucks: 6,609 units sold, a 2% decline YoY.
- M&HCV Buses: 1,304 units sold, up 33% YoY.
- LCVs: 4,560 units sold, down 14% YoY.
- Domestic + Export Sales: 14,137 units sold, up 1% YoY.
- M&HCV Trucks: 7,149 units sold, up 3% YoY.
- M&HCV Buses: 2,027 units sold, up 29% YoY.
- LCVs: 4,961 units sold, down 11% YoY.
Cumulative Sales (April-November 2024):
- Total Sales: 118,964 units, a 3% decline YoY.
Despite domestic challenges, export growth and strong M&HCV bus sales provided some stability. Investors remain cautious due to the ongoing decline in LCV and truck sales.
As of 10:42 am, Ashok Leyland stocks were trading 2.14% lower at Rs 227.11 on the NSE.
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