Ashok Leyland shares fall after turning ex-bonus in ratio of 1:1

Shares of the Chennai-based commercial vehicle maker, Ashok Leyland, fell as much as 2.11% to hit an intraday low of ₹122.80 on the BSE. On the National Stock Exchange, Ashok Leyland shares fell as much as 2.15% to hit an intraday low of ₹122.70. The stock started trading ex-bonus in ratio of one share for every one share held starting Wednesday, July16.

Ashok Leyland's board had declared bonus issue of shares on May 23 when it declared fourth quarter results.

The company had reported net profit of ₹1,246 crore in January-march quarter, marking an upside of 38% from ₹900 crore in the same period last year.

Ashok Leyland's revenue from operations rose 6% to ₹11,907 crore in fourth quarter of financial year 2024-25 as against ₹11,267 crore in the year-ago period.

The Chennai-based company reported stable operational performance as its earnings before interest, taxes, depreciation, and amortisation (EBITDA) also known as operating profit rose 12.5% to ₹1,791 crore from ₹1,592 crore in the same period last year. Its EBITDA margin expanded by 90 basis points to 15.04% from 14.13%.

The company's board approved issuing bonus shares in ratio of one bonus shares of every one share held.

Meanwhile, its total sales in the month of June rose 1% to 14,184 units as against 14,261 units in the same month last year. Sales of its M&HCV trucks declined 12% to 6,554 units and sales of M&HCV bus advanced 42% to 2,315 units.

As of 10:43 am, Ashok Leyland shares traded 1% lower at ₹124, underperforming the BSE200 index which was down 0.2%.