Ashok Leyland reported a stable set of earnings on Friday where higher other income boosted the profit, but numbers were overall slightly below estimates.
“I will not go out and buy market share. Market share is important but profitability is also important,” said Vinod Dasari, MD, Ashok Leyland.
The performance last year was pleasing despite all the challenges that we had like Supreme Court ban of BS-III vehicles, goods and services tax (GST) and a significant shift towards higher tonnage vehicles," he said.
“We maintained our market share despite many challenges, we grew on the export markets substantially, we turned around our light commercial vehicle (LCV) business and had substantial progress in that, we turned around our foundry business and made it profitable,” Dasari said.
Talking about growth, he said, “Infrastructure boom is giving rise to strong tipper demand.”
Demand will be higher if overloading ban continues in Uttar Pradesh, added Dasari.
“The demand is strong and we strongly believe that we should not create a pricing policy, which is focused on buying market share. We will work hard and sell our products based on performance of our products and not on the basis of price,” said Dasari.
First Published: IST