ASHOKLEY

⚡ EV & Future Strategy (Big Trigger)

📈 Business Growth & Financials Q3 FY26 was strong: Revenue growth ~20%+ EBITDA growth ~25%+ Company gained market share in both MHCV and LCV segments. Strong domestic demand + exports supported growth. 🚚 Sales & Industry Outlook February 2026 sales: Domestic growth ~28% Exports growth ~24% The commercial vehicle (CV) cycle is improving due to: Infrastructure spending Economic activity pickup Management expects continued strong demand in MHCV segment. ⚡ EV & Future Strategy (Big Trigger) Aggressive push in electric commercial vehicles (EVs) New battery manufacturing plant (₹400–500 crore investment) EV subsidiary (Switch Mobility) expanding globally 🏭 Expansion & Strategy Targeting 25% market share in LCV segment Expanding: Dealership network Presence in e-commerce, mining, construction sectors Increasing exports to ASEAN & global markets 📊 Brokerage & Market View Brokerages are bullish overall: Targets in range of ₹220–₹240+ Analysts expect: Better margins Continued CV cycle recovery