Ashok Leyland expects volume growth and margin expansion

Ashok Leyland expects its M&H CV volumes to grow by 8-10%, and LCVs by 4-5% in FY24 following their second-quarter results. The management also anticipates achieving a double-digit EBITDA margin, targeting mid-teens in the medium term. The share price of Ashok Leyland has surged over the last year, gaining 1.04% in the last five days, 14.55% in the last six months and 17.56% year-to-date.