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Ashok Leyland shifts focus on margin improvement through price discipline
Synopsis
Analysts expect 12-12.5% EBITDA margin over the next two fiscal years allowing room for upgrades if the company is able to achieve its guidance of mid-teen margin in the medium to long term.
Ashok Leyland has prioritised margin improvement over market share through cost control and expanding product portfolio as evident from its March quarter performance. The company's stock has risen by 7% in the three trading sessions following its quarterly result announcement which came during market hours last Friday. This has taken the one-month stock gain to 22%.India's second-largest truck manufacturer after Tata Motors achieved a record
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