Page 3 - Ashok Leyland

Ashok Leyland would move towards 35% mkt share in MHCV segments: Hinduja

Hinduja Group flagship Ashok Leyland would safely remain above 30 per cent market share in the medium and heavy commercial vehicle segments and confidently move towards 35 per cent going forward, a top official said on Tuesday. The company expects to continue its growth in the medium, heavy and light commercial vehicle segments. The city-headquartered company reported a 61 per cent rise in net profit of Rs 580 crore on the back of robust sales. The company had posted a net profit of Rs 361 crore in the year-ago period. "The third quarter (of the current financial year) has been the best for Ashok Leyland. Before the start of this financial year we had expected that the medium and heavy commercial vehicle industry will grow at 8-10 per cent. The market has grown by 9 per cent (as of October-December 2023 period). Ashok Leyland has grown by 7 per cent in line with the industry growth and growth in bus segment is at 65 per cent almost twice the industry growth," Dheeraj Hinduja, the ..

Ashok Leyland Q3 results: Net profit jumps 73% to Rs 608.85 crore

The company achieved a historic high commercial vehicle volume of 1,38,416 units in the first nine months of the fiscal year

Ashok Leyland hands over keys of Boss Electric truck to Billion E-Mobility

Hinduja Group flagship company Ashok Leyland has commenced delivery of its intermediate and heavy duty electric trucks to its customers, the company said. The keys of 14T Boss Electric Truck were handed over to Billion E-Mobility at the inaugural edition of the Bharat Mobility Global Expo 2024 in New Delhi, the company said. "Ashok Leyland is proud to deliver the first fully electric vehicle to our customer today. The Boss 4T Electric Truck was showcased in the Auto Expo last year. Today, delivering this road-ready product marks a significant milestone in our journey toward sustainable and efficient transportation," said company Managing Director and CEO Shenu Agarwal in a statement on Saturday. "As we stand on the cusp of a new era, these vehicles represent our firm commitment to lead the transition to green mobility offering advanced technologies focused at meeting the evolving needs of the Indian and global markets," Agarwal said. At the Bharat Mobility Global Expo which is ...

Ashok Leyland total vehicle sales decline by 7% to 15,939 units in January

Commercial vehicle maker Ashok Leyland on Thursday said its total vehicle sales, including exports, declined 7 per cent to 15,939 units in January. It had sold 17,200 units in the year-ago period, according to a statement. The company's total MHCV (Medium and Heavy Commercial Vehicle) sales dipped 8 per cent to 14,899 units last month as against 16,198 vehicles a year ago. The Light Commercial Vehicle (LCV) segment volumes fell 7 per cent to 5,721 units in the reported month from 6,150 vehicles sold in January 2023, Ashok Leyland said.

Ashok Leyland to make 1225 buses for Karnataka state transport undertakings

Company says order will strengthen its lead in Indian bus manufacturing

Ashok Leyland signs MoU with Tamil Nadu govt to invest Rs 1,200 cr

Hinduja Group flagship Ashok Leyland has earmarked investments of Rs 1,200 crore in Tamil Nadu, for taking up overall business expansion over the next three to five years, the company said on Monday. Ashok Leyland Managing Director and CEO Shenu Agarwal exchanged documents with Industries Department Secretary V Arun Roy during the second day of the Global Investors Meet in the presence of Chief Minister M K Stalin here.' The investment of Rs 1,200 crore is assigned for strategic initiatives to drive innovation, technological advancements and overall business expansion, the heavy commercial vehicle maker said in a release. Ashok Leyland is committed to creating employment opportunities for 500-1000 people, both direct and indirect, based on the work demand, it said. "This commitment also reflects the group's vision for sustainable growth and competitiveness in the automotive sector," it added.

From Ashok Leyland to VECV, busmakers' sales entered the fast lane in 2023

Ashok Leyland Limited (ALL) recorded a 64 per cent year-on-year increase in sales of medium and heavy commercial vehicle (MHCV) buses during the April-to-December period of 2023 to 11,216 units

Ashok Leyland wins order to supply 552 buses to Tamil Nadu transport corpn

Commercial vehicle manufacturer will deliver the buses from April 2024

Tamil Nadu CM announces Rs 6,000 aid to people affected by Cyclone Michaung

Corporates too joined the bandwagon in extending aid to the state. TVS Motor Company, India's third largest two-wheeler company has donated Rs 3 crore to the Chief Minister's Relief Fund

Hinduja's Ashok Leyland witnesses 3% decline in total sales in November

Hinduja Group flagship company Ashok Leyland has witnessed a 3 per cent decline in its sales in domestic and overseas markets by selling 14,053 units in November, the company said on Friday. The city-based commercial vehicle maker sold 14,561 units during the corresponding month of last year. Sales of medium and heavy commercial vehicles slipped by 10 per cent in domestic and overseas registering 8,500 units in November 2023, as against 9,474 units sold in the same month of last year. However, the total number of light commercial vehicles sold in domestic and overseas grew by 9 per cent to 5,553 in November this year from 5,087 units sold in November 2022. The cumulative sales till November 2023 rose by 7 per cent, to 1,22,092 from 1,14,370 units sold in the same month of last year. The cumulative sales of medium and heavy commercial vehicles as of November grew by 8 per cent to 76,936 units as compared to 71,356 units sold in the same month of last year. Light commercial vehicl

Keen to get external investment for EV arm Switch: Ashok Leyland MD

Hinduja Group flagship firm Ashok Leyland is keen to get external investments for its electric vehicle arm Switch Mobility but only from 'the right strategic partner', and it will not shy away from investing on its own till such an ally is found, according to its Managing Director and CEO Shenu Agarwal. While Switch India is likely to be cash neutral or cash positive going forward, on an operating level at least, for Switch UK some more investments may be required in FY25, with the European and UK markets still not going that strong, he told analysts. "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. He was responding to a query on whether the current tough funding environment could delay .

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Ashok Leyland plans to invest Rs 1,200 crore into Switch Mobility

In September 2023, Switch India launched its state-of-the-art e-LCVs

Ashok Leyland's Q2 net profit zooms over two-fold to Rs 569 crore

The company's revenue also surged by 19 per cent to Rs 11,429 crore

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Here's a list of Diwali picks recommended by top brokerage and research firms that can help you build your portfolio for Samvat 2080.

Ashok Leyland delivers AVTR 1922, India's first LNG-powered haulage truck

With this, Ashok Leyland becomes the first Indian Original Equipment Manufacturer (OEM) to unveil an in-house LNG engine compliant with BS VI Stage II emission standards

Ashok Leyland posts 13% rise in total sales to 16,864 units in October

Commercial vehicle maker Ashok Leyland on Wednesday reported a 13 per cent increase in total sales at 16,864 units in October as compared to 14,863 units in the same month last year. Domestic sales were up 14 per cent at 15,759 units as against 13,860 units in October 2022, Ashok Leyland said in a statement. Sales of medium and heavy commercial vehicles in the domestic market were at 9,411 units as against 8,189 units in the year-ago period, up 15 per cent, it added. Light commercial vehicle sales in the domestic market last month stood at 6,348 units as against 5,671 units in the year-ago period, up 12 per cent, the company added.

Ashok Leyland expects 20% revenue from exports in 5 years: Dheeraj Hinduja

Hinduja group-owned commercial vehicles maker Ashok Leyland expects over one-fifth of its revenue to come from exports in the next five years, according to company's Executive Chairman Dheeraj Hinduja. The thrust is to see Ashok Leyland among the top 10 global original equipment manufacturers (OEM), said Hinduja at Carlton House Terrace, London, UK, during a select media roundtable with the Hinduja family members here. The company, which is investing around Rs 1,000 crore to set up a bus manufacturing facility near Lucknow in Uttar Pradesh, expects the first vehicle to roll out within 15-18 months. Besides, Ashok Leyland has plans to enter Europe with electric buses in 2025, said Hinduja. As per its strategy, the company would focus only on the commercial vehicle segment and has no plans to enter the passenger vehicle segment as of now, he said. There is "room to grow with commercial vehicles" and a "much better growth path" in the segment, said Hinduja. In financial year ended M

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Stocks to watch on Monday, October 16, 2023: Ceat, Cyient DLM, Federal Bank, Jio Financial and Yatra Online among 24 companies to announce results today.

Ashok Leyland bags order for 1,666 new buses from Tamil Nadu STUs

Ashok Leyland is the fourth-largest manufacturer of buses in the world and India's largest bus manufacturer