Profit before tax stood at Rs 998.65 crore in the fourth quarter, up by 218% from Rs 313.94 crore in the same period last year. EBITDA margin improved to 8.9% in Q4 FY22 from 7.6% registered in Q4 FY21.

The company's truck market share for Q4 FY22 improved to 30.6% from 28.9 % in Q4 FY21. The commercial vehicle maker said the market share rose to highest in last 11 quarters.

In Q4 FY22, exports sales of Medium & Heavy Commercial vehicles (MHCV)& Light Commercial Vehicles (LCV) stood at 4173 units rising 32% over Q4 FY21.

On full year basis, the company reported net profit of Rs 541.83 crore in FY22 as compared to a net loss of Rs 313.16 crore in FY21. Net sales surged 41.7% to Rs 21,688 crore in FY22 over FY21.

Cash generated during financial year ended 2022 stood at Rs 1,888 crore while net debt stood at Rs 720 crore.

Gopal Mahadevan, whole time director & chief financial officer of Ashok Leyland said, "We believe that the Q4 performance posted a good recovery. Our truck market shares have been growing steadily quarter on quarter in MHCV and in LCV, volumes have picked up. All other businesses including Aftermarket and lnternational Operations have done exceptionally well. The higher volumes and our cost management initiatives hove helped us improve our bottom line. We have generated close to Rs 2000 crore in cash this quarter owing to better profits and improved working capital, we will continue to focus on driving operational efficiency."

Dheeraj Hinduja, executive chairman of Ashok Leyland said, "We have seen recovery in Q4 FY'22 and the overall performance has been very good. The CV industry is on a recovery owing to the improvement in the macroeconomic environment and healthy demand from the end-user industries. The MHCV segment is leading the recovery riding on the back of growth in core sectors such as construction & mining, agriculture, increased capital outlay for infrastructure projects and pent-up replacement demand. The performance of our BS6 products has been very good and the introduction of CNG products has helped us regain our market share.

He further added, “LCV volumes driven by increased demand for last mile connectivity, especially from the e-commerce segment is expected to grow further. The focus on exports, defence, power solutions and parts businesses will ensure a balanced growth, even as we expand the reach and the products of our core MHCV business. We are keenly following the commodity prices, and the situation on the supply of semi-conductors and hope that both will ease.”

Meanwhile, the board of directors of the company recommended a dividend of Rs 1 per equity share, for the financial year ended 31 March 2022. The record date for the dividend is 15 July 2022.

Ashok Leyland, flagship of the Hinduja group, is among the largest manufacturer of commercial vehicles in India and also among the biggest manufacturers of buses and trucks globally.