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Ashok Leyland's Plan To Shutdown UK's Switch Mobility Switches Focus To India, Says ICICI Securities
ICICI Securities maintains Add on Ashok Leyland, with an unchanged DCF-based target price of Rs 250, implying 12 times FY27E EV/Ebitda.
27 Mar 2025, 10:38 AM IST 
Switch Mobility India is expected to be Ebitda break-even in FY25, and PAT break-even over the next four–six quarters.
(Photo used for representational purpose- Source: company website)
Switch Mobility India is expected to be Ebitda break-even in FY25, and PAT break-even over the next four–six quarters. While downsizing Switch UK and focusing on Indian manufacturing operations may be positives from a long-term standpoint, increase in promoter pledge may remain an overhang on the stock in the near term.
