Ashok Leyland's Q4 net profit at Rs 12.5 billion came in ahead of our estimate of Rs 10.8 billion, aided by better-than-expected operational performance and higher other income.(Representational. Image: Ashok Leyland website)
Over the years, Ashok Leyland has done well to reduce its business cyclicality by focusing on non-MHCV segments. Further, a net cash position would help Ashok Leyand invest in growth avenues in the coming years.