Rough road ahead for Ashok Leyland
BENGALURU : For Ashok Leyland Ltd, this financial year is likely to be significant in terms of profitability. After four years, the commercial vehicle (CV) maker is on track to clock a double-digit Ebitda margin in FY24. In the first half of FY24, the share stood at 10.7% and the company expects the second half to benefit from the few tailwinds of better demand and softer commodity costs. Ebitda is short for earnings before interest, tax, depreciation and amortization. Hence, improved margin performance is one reason that has helped the 22% rise in Ashok Leyland shares so far in 2023.
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