Leyland posts record performance
With commercial vehicle industry turning around well and recovering strongly during 2017-18, Ashok Leyland, the Hinduja flagship, has maintained market share and has reported record revenue and profit for the full year.
Its profit after tax (including exceptional item) grew 28 per cent Rs.1563 crore for 2017-18 as against Rs.1223 crore of 2016-17.
Revenue (excluding excise duty /GST) stood at Rs. 26,248 crore for the year 2017-18, when compared with Rs. 20,140 crore, a growth of 30 per cent on the back of record domestic volumes of more than
one lakh units.
“All in all it was a fantastic year. Despite higher growth in northern region, we managed to maintain our market share,” said Vinod K Dasari, Managing Director.
“At the end of FY18, we were cash positive with about Rs. 3000 crore surplus. Our focus on working capital and operational efficiency will continue. Our credit rating has been upgraded to ‘AA+’ after 20 years,” said Gopal Mahadevan, Chief Financial Officer.
The company expects 10-12 per cent industry volume growth in FY19 with continuing shift towards higher tonnage.
TVS Motor plans capital expenditure of Rs 700 crore
Leading two-wheeler maker TVS Motor Company has scheduled a capex of Rs.700 crore for FY19, which is to be spent towards product development, BS VI transition, other new technologies, debottlenecking, etc.
The company has recorded an impressive performance during the year FY18. Its profit after tax for 2017-18 grew by 19 per cent at Rs.662 crore for when compared with Rs. 558 crore in 2016-17, supported by a reasonable increase in the top line on the back of double-digit growth in scooter and bike sales during the year.
Benefits of last year’s launches in the motorcycle and moped space, coupled with an aggressive marketing strategy, are now visible in TVS’ volumes. “We expect market share gains to continue on the back of newly launched products which have been received well,” said a report of a brokerage firm Prabhudas Lilladher.
Eicher Motors to invest Rs.1300 cr
Eicher Motors registered a consolidated net profit of Rs.1960 crore for the year ended 31 March 2018, compared with Rs.1667 crore in 2016-17.
However, the consolidated financial results included an amount of Rs. 187.03 crore of exceptional nature representing the company’s share of loss for the quarter ended 31 March 2018, due to the decision to wind down the operations of the joint venture company Eicher Polaris in Q4. This is over and above the share of loss of Rs.124.95 crore recognised from the commencement of operation of the company in June 2015 till 31 December 2017.
The company had a share of profit of joint venture of Rs. 257 crore in FY18 as and Rs. 189 crore in FY17.
Consolidated revenue for the full year grew 28 per cent at Rs. 8965 crore against Rs. 7033 crore. EBITDA stood at Rs. 2808 crore (Rs. 2174 crore).
Royal Enfield is proposing to invest Rs. 800 crore this fiscal in setting up Phase-2 of the company’s third plant at Vallam Vadagal near Chennai, completing construction of the Technology Centre in Chennai and also in new product developments, according to Siddhartha Lal, MD and CEO Eicher Motors Ltd.
Indian Oil achieves highest-ever throughput in FY18
PSU energy giant Indian Oil registered a net profit of Rs.21,346 crore for the year 2017-18 compared with Rs.19,106 crore in the last fiscal. The reported revenue from operations for 2017-18 was Rs.506,428 crore as against Rs.445,442 crore in 2016-17.
Indian Oil sold 88.763 MMT of products, including exports, during 2017-18. “Refining throughput for 2017-18 was 69.001 MMT,
and the performance of the corporation’s countrywide pipelines network was 85.675 MMT during the same period. The gross refining margin (GRM) during the year 2017-18 was $ 8.49 per bbl compared to $ 7.77 per bbl in 2016-17,” said Sanjiv Singh, Chairman, Indian Oil.
The fiscal signalled the Corporation’s ambitious plan to nearly double its present installed group refining capacity of 80.7 million metric tonnes per annum (MMTPA) to an estimated 150 MMTPA by the year 2030 through both brownfield and greenfield routes. This includes refineries of Indian Oil, subsidiary Chennai Petroleum Corporation Ltd and the upcoming JV project Ratnagiri Refinery &
Petrochemicals Ltd.
