During Q4 FY'21, year on year MHCV truck volumes for AL have grown at 111% which is better than the rate of growth of the industry. AL's MHCV truck market share for Q4 FY'21 has therefore improved to 28.9% vis-a-vis 27.6% in Q4 FY'20. Q4 consolidated revenue at Rs. 8,142 Cr is 60% higher than last year revenue of Rs. 5,088 Cr. Q 4 consolidated PAT is at Rs. 377 Cr which is 5.5 times higher than last year PAT of Rs. 58 Cr. Revenue for full-year was at Rs. 15,301 Cr as against Rs. 17,467 Cr over the same period last year. Loss before tax was Rs. 412 Cr as against a profit before tax of Rs. 362 Cr last year. Loss after tax was at Rs. 314 Cr as against a profit after tax of Rs. 240 Cr last year. Full year EBITDA was at 3.5% as against 6.7% last year. The total MHCV industry volume for the full year de-grew by 28%. Full year consolidated revenue at Rs. 19,454 Cr is 11% lower than last year revenue of Rs. 21,951 Cr. Consolidated Loss after tax is at Rs. 70 Cr when compared to a PAT of Rs. 460 Cr last year.
The challenges in the market due to COVID-19 impacted the volumes and performance of the company and industry in the first half of FY 2020-21, however, the company and the industry saw a healthy sequential recovery in the second half of FY 2020-21, post the gradual removal of the lockdown. Sequentially, over Q3 FY '21, MHCV truck volumes for AL have grown by 57% in Q4 FY'21 which was higher than the industry growth of 53%, thereby resulting in market share improvement of 0.8% (28.9% in Q4 Vs 28.1% in Q3).
This performance was backed by the successful AVTR range - India's first modular truck platform which was launched in June '20. The AVTR platform gives customers a choice to customize their truck as per their unique requirements. The platform has been delivering best-in-class total cost of ownership across segments which has been widely appreciated by customers.
LCV volume for Q4 FY'21 at 17,042 nos. is 112% higher than last year volume of 8,057 nos. The Bada Dost launched in September '20 has clocked good volumes with more than 4,550 vehicles having been sold in Q4 FY'21. On a full-year basis, LCV domestic volumes for AL have grown by 4% at 46,671 nos. (LY 44,912 nos) bucking the industry trend. LCV truck volumes for the industry de grew by about 11½%. Despite the pandemic situation, Q4 MHCV & LCV exports at 3,164 nos. have grown by 40% over Q4 last year (2,255 nos.). On a full year basis our export volumes at 8,001 nos. is lower than last year (8,920 nos.) by 10%.
Vipin Sondhi, MD & CEO at Ashok Leyland Limited said, "We have seen a recovery in Q4 FY'21 and the overall performance has been better. However, with the sudden onset of the second wave, the challenges for the industry continues. We are better prepared this time. With India's GDP poised to grow at 9.5% in FY'22, it augurs well for the CV industry. At Ashok Leyland, we remain rock solid and resilient, driven by our Newgen products and a talented team we are confident that we will come out stronger once demand picks up. This will help us deliver profitable growth".
