Mumbai (Maharashtra) [India], September 16 (ANI/NewsVoir): The rapidly growing construction industry needs constant advancements in technology. With this unprecedented growth and a rising need for products that can fit every region's needs, INTERMAT is here in India with its first edition to exhibit a wide range of construction machinery and materials in Mumbai. The event will be held at the Bombay Convention & Exhibition Centre, Nesco, Goregaon from September 19-21, 2022. India needs around 50 Trillion Rupees worth of investment in infrastructure for the development of the country. INTERMAT provides appealing opportunities for businesses with favourable valuations, a brighter scope for improvement, and more. INTERMAT is among one of the world's top 3 construction shows where businesses can gain visibility, build networks, and encourage growth within a qualified diverse ecosystem. In this expo, industry professionals get to explore exhibits of a complete range of constructi
A three-member bench of the appellate tribunal upheld the earlier orders of the Allahabad bench of the National Company Law Tribunal (NCLT), which had on April 5, 2022, rejected the plea of Hinduja Leyland Finance, , hinduja group, FLY EXPRESS LOGISTICS, NCLAT
Ashok Leyland - Margins outlook remain subdued - ICICI Securities
Posted On: 2021-02-15 20:45:50 (Time Zone: Arizona, USA)
Ashok Leyland s (AL) operating performance in Q3FY21 was below consensus estimates as EBITDA margin came in at 5.3%. Gross margins eroded ~321bps QoQ to 25.6% due to deterioration in mix (M&HCV revenue share rose 11% QoQ to ~56%). Management indicated: a) economic activity resumption has been stronger on infrastructure side which has aided tipper/ multi-axle segment; b) commodity prices are likely to further stiffen in Q4 and price increases are unlikely to cover for these increases; and c) nature (voluntary/mandatory) of scrappage policy remains key for demand creation. We estimate volume rebound at ~35% CAGR in FY21E-FY23E, which we reckon, will raise asset efficiencies, margins for AL leading to healthy FCF generation (~Rs30bn cumulative FCF in FY22E/23E) assuming subdued capex intensity. Maintain HOLD.