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ASHOK LEYLAND LTD. Company Analysis  6 sep 2008
Ashok Leyland – Business Overview ,[object Object],[object Object],[object Object],[object Object],[object Object],PRODUCT SEGMENTS Buses TRUCKS DEFENCE VEHICLES, Spares Entering into Design & OEM services
Indian Automobile Industry - overview ,[object Object],[object Object],[object Object]
Growth Divers ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Concern Areas ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Impact of Interest Rates
Ashok Leyland – Shareholding Pattern
Ashok Leyland Capacity Expansion plan
Financial Performance FY07 FY08 Change Revenues Rs. Cr 8514 9179 7.81% EBITDA 708 895 26.48% EBIT 555 721 29.75% PAT 364 469 29.11% EPS 3.33 3.53 6.01% ROCE 16.87 20.11 19.20% DPS 1.5 1.5 Margins Operating Profit margin  9.32 10.09 Gross Profit margin 7.27 7.86 Net Profit margin 5.94 5.83
Peer Comparison Ashok Leyland Tata Motors Swaraj Mazda CMP 34 (Face Value = 1) 420 296 P/E  9.61 8.64 10.83 NPM % 5.83 6.96 3.75 Last Dividend 150 % 150 % 55 % EPS 3.53 49.65 24 ROE 22.3 25.98 27 ROCE 20.11 19.8 21.50
Valuation  CMP = 34 ,[object Object],[object Object],[object Object]
Valuation  - FCFF
[object Object],[object Object],[object Object],[object Object],[object Object]

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Ashok leyland valuation

  • 1. ASHOK LEYLAND LTD. Company Analysis 6 sep 2008
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  • 7. Ashok Leyland – Shareholding Pattern
  • 8. Ashok Leyland Capacity Expansion plan
  • 9. Financial Performance FY07 FY08 Change Revenues Rs. Cr 8514 9179 7.81% EBITDA 708 895 26.48% EBIT 555 721 29.75% PAT 364 469 29.11% EPS 3.33 3.53 6.01% ROCE 16.87 20.11 19.20% DPS 1.5 1.5 Margins Operating Profit margin 9.32 10.09 Gross Profit margin 7.27 7.86 Net Profit margin 5.94 5.83
  • 10. Peer Comparison Ashok Leyland Tata Motors Swaraj Mazda CMP 34 (Face Value = 1) 420 296 P/E 9.61 8.64 10.83 NPM % 5.83 6.96 3.75 Last Dividend 150 % 150 % 55 % EPS 3.53 49.65 24 ROE 22.3 25.98 27 ROCE 20.11 19.8 21.50
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  • 12. Valuation - FCFF
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