Question

perform MACRO environmental analysis for ashok leyland company.​

Answer 1

Explanation:

Ashok Leyland performs poorly based on its peers as well as companies in similar geographic regions. Companies are assessed on factors such as board diversity ...

Answer 2

Answer:

Ashok LeylandOperational performance continue to remain weak reflecting challengingmacro-economic environmentNet sales at INR19.5b (v/s est INR19b) declined by 18% YoY reflecting weakmacro- economic environmentVolumes have declined by 19% (down 20% QoQ) to 18,393 units (v/s est 17,718units), driven by 27% drop (decline of 33% QoQ) in MHCV volumes and 4% drop(7% growth QoQ) in LCV (Dost, Stile) volumes.The share of LCVs increased QoQ to 40% (v/s 31% in 2Q) of total volumes.While realizations improved by 1% YoY to INR1.06b, sequentially they havedeclined by 3.7% led by higher share of LCVs and continued pressure ondiscounts.RM cost have risen 340bp QOQ to 79.7% (est 76.5%) driven by higher share ofLCVs.Staff cost have declined by 6% QoQ to INR2.4b helped by VRS of around 500employees.EBITDA loss at INR969m (negative margin of 5%) was higher than our loss est ofINR65m due to higher than expected RM cost at 79.7% (v/s est 76.5%).Adj. loss stood at INR2.5b (v/s est of INR1.7b). Reported loss at INR1.7b wasboosted by gains (net of VRS charges) of INR923m on sale of few long terminvestments. AL booked an extra-ordinary