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June 26, 2018 12:52 PM | Business

Ashok Leyland expects overall volume to grow by 10% this year

The company is expecting overall volume to grow by 10% this year, said Vinod Dasari, Managing Director, Ashok Leyland.

Speaking to CNBC-TV18 from the side-lines of the Ambit India Access Conference in London, he said FY19 is going to be pretty good as industry volume is still growing partly, because of the growth in gross domestic product (GDP) post the Goods and Services Tax (GST).

However,  the growth will slowdown slightly in July and August because of the monsoon but the construction will be back again, Dasari said.

"We should expect another year of double-digit growth while we continue to maintain the double-digit operating margin that we have been historically able to maintain,” he added.

Dasari said FY19 will be stronger because of the construction boom and FY20 will also be very good because of the pre-Euro VI. So, the company is expecting to grow about 20 percent next year.

Speaking about the revenue growth, he further mentioned that, “I expect the growth to be at least 10-15 percent this year and maybe 15-20 percent next year.”

The Ashok Leyland stock has been slipping over the last few days, losing 11 percent this month but over the last one year, the stock has gained over 40 percent.
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