Ashok Leyland targets selling 1,000 STILES this fiscal

Ashok Leyland targets to sell about 1,000 units of newly launched multi purpose vehicle STILE by the this fiscal-end, a company official said today. The MPV, launched recently at some places, including Delhi and four other towns in Tamil Nadu, has received good response, particularly due to its fuel efficiency of 20.7 km per litre, Naga Senthil Prabhu, Regional Manager-South (LCV), covering Tamil Nadu and Kerala, told reporters here today.

Also Read: FY14 exports to rise on slump in local mkt, says Ashok Leyland

"Enquiries and bookings for the vehicle are very good and nthe company will sell at least 1,000 vehicle before this financial year," Prabhu, here to launch the 'STILE,' said. Stating that the MPV segment,which saw 40 percent growth in the last fiscal, is showing flat growth, he said Ashok Leyland tapped this segment as there is more space for newer vehicles and expects a good market share in the next fisal.

Moreover, the company's major focus would be the tourist and maxi cab segments, he said. STILE is being manufactured at the Oragadam plant of Nissan-Renault, which has a capacity to produce 20,000 to 30,000 vehicles annually, he said, adding prices of the three variants ranged from Rs 7.4 lakh to Rs 9.35 lakh.

"If the company feels the pressure on production schedule, it will think of starting a new plant. However there is no immediate possibility to start a new plant,"Prabhu said. The company would expand its network, the dealer cum garage to 200 by this fiscal from the present 130, he said.

On October 23, 2013, Ashok Leyland closed at Rs 16.90, up Rs 0.10, or 0.60 percent. The 52-week high of the share was Rs 28.70 and the 52-week low was Rs 11.82.

The company's trailing 12-month (TTM) EPS was at Rs 0.85 per share as per the quarter ended June 2013. The stock's price-to-earnings (P/E) ratio was 19.88. The latest book value of the company is Rs 16.74 per share. At current value, the price-to-book value of the company was 1.01.

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