Shares of Chennai-based commercial vehicle maker Ashok Leyland fell by 2.11% to a low of ₹122.80 on the BSE. Ashok Leyland shares also fell by 2.15% to a low of ₹122.70 on the National Stock Exchange. The stock began trading at 1:1 ex-bonus issue rate from Wednesday, July 16.
Ashok Leyland’s board had announced the bonus issue of shares while announcing its fourth quarter results on May 23.
The company had reported a net profit of ₹1,246 crore in the January-March quarter, up 38% from ₹900 crore in the same period last year.
Ashok Leyland’s operating revenue grew 6% to ₹11,907 crore in the fourth quarter of FY2024-25 as against ₹11,267 crore in the same quarter a year ago.
The Chennai-based company has reported stable operating performance as its earnings before interest, tax, depreciation and amortization (EBITDA), also known as operating profit, grew 12.5% to ₹1,791 crore from ₹1,592 crore in the same period last year. Its EBITDA margin increased by 90 basis points to 15.04% from 14.13%.
The company’s board approved the issuance of bonus shares in the ratio of one bonus share for every share held.
Meanwhile, its total sales grew 1% to 14,184 units in June as against 14,261 units in the same month last year. Its medium and heavy commercial vehicle (M&HCV) trucks sales declined 12% to 6,554 units and medium and heavy commercial vehicle (M&HCV) buses sales rose 42% to 2,315 units.
As of 10:43 am, Ashok Leyland shares were trading 1% lower at ₹ 124, underperforming the BSE 200 index, which was down 0.2%.
