How Ashok Leyland managed to turn its loss-making subsidiaries around

Nissan' exit from the light commercial vehicle joint venture has helped speed up consolidation and growth for the company

In recent years, commercial vehicle maker Ashok Leyland has demonstrated its knack for turning adversity into advantage more than once. After it broke up with Japanese partner Nissan in 2016 over management and funding differences, it showed it could not just survive but thrive alone. 

 The company bought out Nissan’s stake in the light commercial vehicle joint venture and turned the loss-making subsidiary around within a year, riding on just two products. Then, it scripted a similar story at Hinduja Foundries. Investors baulked at the plans to merge its affiliate Hinduja Foundries with itself, as it ran counter to the