SHENU AGARWAL
Commercial vehicle sales surpass expectations, indicating strong economic activity
Sales of commercial vehicles increased last quarter, driven by strong replacement demand and continued government infrastructure spending. More than 234,000 trucks and buses were sold in the local market in the three months ended June, exceeding expectations. This marks a 4.5% rise compared to the 224,000 vehicles sold in the same period last year.
Ashok Leyland rolls out 'Sarathi Suraksha' policy
The policy, classified as an 'Unnamed GPA (Group Personal Accident) policy' covers any driver operating an Ashok Leyland vehicle, providing comprehensive protection for the drivers. The comprehensive insurance policy covers accidental death, permanent and partial disability and also includes a special education bonus for children.
Ashok Leyland Q4 Results: Net profit jumps 20% to Rs 900.41 crore
Revenues from operations in the quarter under review stood at Rs 11,266.69 crore as compared to Rs 11,625.67 crore in the year-ago period.
Ashok Leyland to unveil 5-6 new products under LCV segment: MD
Earlier today, Ashok Leyland announced a 16.73 percent rise in consolidated net profit, reaching Rs 933.69 crore in the January-March 2024 quarter, compared to Rs 799.87 crore recorded in the corresponding period of the previous fiscal year.
Ashok Leyland Q4 Results: Net profit rises 17% to Rs 934 crore
Ashok Leyland reported a 16.73% increase in Q4 net profit to Rs 933.69 crore. FY24 net profit was Rs 2,696.34 crore with a revenue of Rs 45,790.64 crore. Managing Director Shenu Agarwal and Chairman Dheeraj Hinduja expressed optimism about the company's future prospects.
Ashok Leyland reaches 3 million production milestone at Pantnagar plant
Ashok Leyland, a Hinduja Group flagship company, has rolled out three million units from its Uttarakhand factory, marking a significant milestone in its vision to become one of the top 10 Commercial Vehicle (CV) manufacturers globally. The company's commitment to innovation, technological advancement, and strong customer relationships is evident.
UP CM Adityanath lays foundation stone for green CV facility of Ashok Leyland
Ashok Leyland said it plans to expand this capacity to 5,000 vehicles annually over the next decade, anticipating the growing demand for electric and other types of vehicles in the coming years.
Ashok Leyland progressing well in network expansion in North & East
Ashok Leyland in the first nine months of the financial year ending December 31, 2023 reported its highest turnover of Rs 27,100 crore, highest sales volume at 1,38,416 units, EBITDA of Rs 3,014 crore and Profit After Tax of Rs 1,718 crore.
Ashok Leyland hands over keys of 14T Boss Electric truck to Billion E-Mobility
Ashok Leyland has begun delivering its electric trucks, with the keys of the 14T Boss Electric Truck handed over to Billion E-Mobility at an event in New Delhi. The company's Managing Director and CEO, Shenu Agarwal, stated that this delivery marks a significant milestone towards sustainable transportation. Ashok Leyland also showcased its future-ready vehicles at the Bharat Mobility Global Expo, including a Hydrogen Fuel Cell Bus, LNG Tractor, EV Tractor, and Electric LCVs. Billion E-Mobility expressed gratitude for the quick delivery of the technologically advanced electric truck.
Ashok Leyland achieves record sales at 1.98 lakh units in 2023
Ashok Leyland, a commercial vehicle maker, sold 1,98,113 units in CY 2023, surpassing its 2018 sales record of 1,96,579 units. The record achievement reflects the company's product versatility and strong market presence. The company plans to continue investing in cutting-edge technologies and customer-centric initiatives for future growth.
Ashok Leyland bags order for 552 buses from Tamil Nadu transport entity
Commercial vehicle major Ashok Leyland on Thursday said it has bagged an order to supply 552 buses from Tamil Nadu State Transport Corporation (TNSTC). The ultra-low entry (ULE) buses would be used for public transport, the company said in a statement.
Ashok Leyland open to external investment for its EV subsidiary
"We are very keen on getting external investments also, but we want to make sure that we have the right strategic partner with us. I mean, we do it at the right valuation. So right now, the focus is to get Switch into a very, very strong mode by developing products, by maturing our technology on both the bus side and the LCV side," Agarwal said.
Keen to get external investment for EV arm Switch Mobility, waiting for right partner: Ashok Leyland MD
Ashok Leyland's electric vehicle arm, Switch Mobility, seeks external investments cautiously, prioritizing the right strategic partner at the right valuation. The company remains open to individual investment until an ideal ally is secured, with a focus on developing robust products and technology maturity. Switch India anticipates being cash neutral or positive, while Switch UK may require additional investments in FY25 due to the European and UK markets' subdued performance.
Ashok Leyland bags order for 1,282 buses from Gujarat state road transport corp
Ashok Leyland has secured an order from the Gujarat State Road Transport Corporation (GSRTC) for 1,282 fully built buses. This is one of the largest orders from a state transport undertaking for a single original equipment manufacturer (OEM) and will strengthen Ashok Leyland's position in the Indian bus market.
Ashok Leyland to invest Rs 1000 crore in a greenfield plant in UP for making e-buses
Ashok Leyland, the Hinduja Group's flagship company, has signed an agreement with the Uttar Pradesh Government to set up a greenfield plant for manufacturing electric buses. The company will invest Rs1000 crore into the facility, which will have the capacity to produce 2500 buses per year initially and can be scaled up to 5000 vehicles per year in the next decade. The government of Uttar Pradesh has committed to facilitating the sale of electric buses for its own fleet and other stakeholders for the next five years through Ashok Leyland's subsidiary, Switch Mobility.
Ashok Leyland bags orders worth Rs 800 crore from Indian Army
Ashok Leyland has secured INR 800 crore worth of orders from the Indian Army, which include the procurement of specialist vehicles FAT 4x4 and GTV 6x6 for towing light and medium guns. The vehicles are scheduled to be delivered over the next 12 months. According to Amandeep Singh, President for Defence Business at Ashok Leyland, the mobility platforms, ranging from 4x4, 6x6, 8x8, 10x10 & 12x12 are indigenously developed and manufactured by Ashok Leyland and that contributed significantly towards import substitution.
We are very focussed on profitable growth: Shenu Agarwal, Ashok Leyland
Quarter four has been very good. It has been a double digit EBITDA quarter and we hope that in FY24 we can maintain kind of a double digit EBITDA trajectory for the whole year, that is our focus.
Ashok Leyland bags order of 1,560 trucks from VRL Logistics
"VRL Logistics and Ashok Leyland have a longstanding association, Over the years VRL has worked very closely with us in developing new products and features suited to emerging needs of customers in the logistics industry," said Shenu Agarwal, Managing Director and Chief Executive at Ashok Leyland.
Ashok Leyland working to bring EBITDA margins back to 14-15%; optimistic about Q1 too: Shenu Agarwal
Ashok Leyland's focus is on profitability and getting back to its pre-Covid-19 peak EBITDA levels. The automaker aims to expand its reach, increase its market share, and expand its product portfolio. By working on alternative fuels, electric and hydrogen cars, Ashok Leyland aims to bring in new products for Indian and other overseas markets. Although electric vehicle sales depend on STU orders, the company aims to quickly finish those and launch electric Dost and Bada Dost models by late 2021 or early 2022.
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