ASHOK LEYLAND = Q2 FY 2011 (SEP 2010) = RESULTS = SUPERB PERFORMANCE

Ashok Leyland Limited

NSE Symbol ASHOKLEY

Ashok Leyland has produced excellent set of results for Q2 FY2011.

Net Sales   is Rs.2713.95 Cr – up by 15.59% from Previous Qtr (Q1 FY11) and by a whooping 72.02% from corresponding Qtr (Q2 FY10).

Net Profit  is Rs.167.06 Cr – up by 36.21% from Previous Qtr and by 88.54% from corresponding Qtr.

Basic EPS is Rs.1.26 on a face Value of Rs.1 – against Rs.0.92 in Previous Qtr and Rs.0.67 in corresponding Qtr. Annualizing this (1.26 x 4),the annual EPS will be over Rs.5.

The Market price of the share is Rs.75.50. Thus, the PE Ratio is around 15.  A good upside is Possible from these levels on current performance. The company has performed excellently in Q2 – on top of a brilliant performance in Q1.

Ashok Leyland has huge orders on hand for the next one year and is likely to improve on current performance in coming Quarters.

The company was last reviewed at :

http://wiseinvestmentideas.blogspot.com/2010/09/ashok-leyland-update-as-on-19-09-2010.html

RESULTS IN FIGURES:

Ashok Leyland	30-Sep-10	30-Jun-10	Dif%1	30-Sep-09	Dif%2
Net Sales	271395.45	234797.81	15.59	157768.46	72.02
Increase/decrease in SIT & WIP	-9249.36	-11360.17	-18.58	4210.13	-319.69
Raw Materials	201072.21	177879.28	13.04	100087.75	100.9
Purchase of Traded Goods	7868.15	6940.82	13.36	6494.6	21.15
Employees Cost	21148.77	20249.52	4.44	16750.36	26.26
Depreciation	6405.93	6146.88	4.21	5058.23	26.64
Other Expend	19929.75	17548.28	13.57	13620.64	46.32
Total Expend	247175.45	217404.61	13.69	146221.71	69.04
Profit from Operations	24220	17393.2	39.25	11546.75	109.76
Other Income	481.41	472.98	1.78	555.96	-13.41
Interest	3948.5	3161.79	24.88	1700.4	132.21
Profit before tax	20752.91	14704.39	41.13	10315.55	101.18
Tax expense	4047	2440	65.86	1455	178.14
Net Profit after tax	16705.91	12264.39	36.21	8860.55	88.54
Net Profit	16705.91	12264.39	36.21	8860.55	88.54
Face Value.Rs	1	1	0	1	0
Paid Up Equity	13303.42	13303.42	0	13303.38	0
Basic EPS	1.26	0.92	36.96	0.67	88.06
Public holding (%)	47.96	47.96	0	47.96	0

ANNOUNCEMENTS

TO THE EXCHANGE

20-10-2010        Ashok Leyland Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2010 as follows: Net Sales of Rs. 271395.45 lacs for quarter ending on 30-SEP-2010 against Rs. 157768.46 lacs for the quarter ending on 30-SEP-2009. Net Profit / (Loss) of Rs. 16705.91 lacs for the quarter ending on 30-SEP-2010 against Rs. 8860.55 lacs for the quarter ending on 30-SEP-2009.          -

16-09-2010        Ashok Leyland Limited has informed the Exchange regarding a press release dated September 16, 2010 , titled "Ashok Leyland bags order for 2,850 buses from IRT Includes MTC's requirement for 150 BS IV vehicles-first from a STU".

29-07-2010        Ashok Leyland Limited has informed the Exchange regarding a press release dated July 29, 2010 , titled " Ashok Leyland to acquire a 26% stake in UK's Optare".    

27-07-2010        Ashok Leyland Limited has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2010 as follows: Net Sales of Rs. 234797.81 lacs for quarter ending on 30-JUN-2010 against Rs. 91245.13 lacs for the quarter ending on 30-JUN-2009. Net Profit / (Loss) of Rs. 12264.39 lacs for the quarter ending on 30-JUN-2010 against Rs. 777.21 lacs for the quarter ending on 30-JUN-2009.        

29-04-2010        Ashok Leyland Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 724471.05 lacs for year ending on 31-MAR-2010 against Rs. 598107.37 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 42367.48 lacs for the year ending on 31-MAR-2010 against Rs. 18999.63 lacs for the year ending on 31-MAR-2009.   -

29-04-2010        Ashok Leyland Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on April 29, 2010 have recommended a dividend of Rs.1.50 per share of face value of Re.1/- each (150%).    -

29-04-2010        Ashok Leyland Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 293904.02 lacs for quarter ending on 31-MAR-2010 against Rs. 121812.24 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 22266.46 lacs for the quarter ending on 31-MAR-2010 against Rs. 5331.5 lacs for the quarter ending on 31-MAR-2009.

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