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Chennai (Tamil Nadu) [India], July 15 (ANI): <keyword id="19906966" type="General" weightage="100" keywordseo="Ashok-Leyland" source="keywords" meta.keywordsubtype="org" meta.entityname="Ashok Leyland" meta.hostid="265" meta.entityid="Ashok Leyland">Ashok Leyland</keyword> has announced that the company has secured the single largest fully built bus order from the <keyword id="20577309" type="General" weightage="20" keywordseo="Maharashtra-State-Road-Transport-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Maharashtra State Road Transport Corporation" meta.hostid="265" meta.entityid="Maharashtra State Road Transport Corporation">Maharashtra State Road Transport Corporation</keyword> (<keyword id="20276774" type="General" weightage="20" keywordseo="MSRTC" source="keywords">MSRTC</keyword>) for 2,104 units of Viking passenger buses. According to a press release, the total consideration for this order is approximately Rs 981.45 Crores. The execution period for this contract spans from August 2024 to August 2025. MSRTC operates a fleet of over 15,000 buses. With this substantial order, Ashok Leyland buses will now dominate its fleet. These modern, fully built buses will comply with the latest Central Motor Vehicle Rules (CMVR) standards and feature AIS 153 compliant bodies. The order, awarded by the domestic entity MSRTC, is for the supply of BSVI OBD II Diesel Fuel Type Fully Built Passenger Buses. MSRTC, one of India's largest state transport undertakings, operates a fleet of over 15,000 buses. With this substantial order, Ashok Leyland buses will now dominate its fleet. These modern, fully built buses will comply with the latest Central Motor Vehicle Rules (CMVR) standards and feature AIS 153 compliant bodies. They will also be equipped with the proven iGEN6 BS VI OBD II technology, boasting a 197 HP H-Series Engine and Rear Air Suspension, among other advanced features. The buses will be manufactured at Ashok Leyland's exclusive bus body plants using state-of-the-art technology, ensuring enhanced safety, improved comfort, and a lower total cost of ownership for MSRTC. Shenu Agarwal, Managing Director and CEO of Ashok Leyland, expressed his excitement about the continued partnership with MSRTC. He stated, "We are excited to continue our long-standing partnership with the Maharashtra State Road Transport Corporation (MSRTC). This new order underscores our dedication to producing highly efficient and technologically advanced products, driving the growth of public transportation in the country." He added, "Our deep understanding of our customers and our ability to quickly respond to their needs is what sets us apart." Echoing this sentiment, Sanjeev Kumar, President of Medium and Heavy Commercial Vehicles (M&amp;HCV) at Ashok Leyland, remarked, "We are thrilled to have received this order from MSRTC. The order win emphasizes the confidence and trust our customers have in our products. Specifically tailored to meet the unique requirements of Maharashtra State Road Transport Corporation, our buses stand as a testament to the reliability, durability, and robustness of our products." He added, " We are proud to offer MSRTC and the people of Maharashtra a modern fleet that ensures superior comfort and the highest standards of safety. This order reflects the trust that our customers place on Ashok Leyland." As one of the top five largest bus manufacturers globally, Ashok Leyland's recent order further consolidates its position in both the Indian and global bus markets.

Ashok Leyland bags single largest order of 2,104 fully built buses from Maharashtra government

Mumbai, Commercial vehicle maker <keyword id="6357085" type="General" weightage="100" keywordseo="Ashok-Leyland" source="Orion">Ashok Leyland</keyword> on Monday said it has bagged orders worth Rs 800 crore from the Indian Army. The contracts awarded also include the procurement of the Field Artillery Tractor (FAT 4x4) and the Gun Towing Vehicle (GTV 6x6), Ashok Leyland said in a statement. "We have secured these orders from the Indian Army. The Defence business has been a strong pillar of growth for us, and this win further establishes our leadership in Defence mobility vehicles business," said Shenu Agarwal, Managing Director and Chief Executive Officer at Ashok Leyland. The vehicles will be delivered over the next 12 months to meet the requirements of the Indian Army, the company said. The FAT 4x4 and GTV 6x6 are specialised vehicles employed by the artillery for towing light and medium guns, respectively, according to the company. "Ashok Leyland's dependable mobility solutions have consistently remained a formidable asset within the defense sector, catering to the diverse needs of personnel and logistics across the armed forces," said Amandeep Singh, President for Defence Business at Ashok Leyland. Ashok Leyland has invested in development of mobility platforms ranging from 4x4, 6x6, 8x8, 10x10 &amp; 12x12 for various applications and operational requirements of the Indian Armed Forces, he stated. These platforms are indigenously designed, developed and manufactured by Ashok Leyland and contribute significantly towards import substitution, according to the company.

Ashok Leyland bags orders worth Rs 800 crore from Indian Army

Mumbai, Hinduja Group flagship <keyword id="6357085" type="General" weightage="20" keywordseo="Ashok-Leyland" source="Orion">Ashok Leyland</keyword> on Friday said its net profit on a year-on-year basis jumped over eight fold to Rs 576 crore in the June quarter of this fiscal. The Chennai-based commercial vehicle maker had reported a net profit of Rs 68 crore in Q1FY23, as per a company statement. Revenue for the quarter stood at Rs 8,189 crore, as against Rs 7,223 crore in the first quarter of the previous fiscal. The company's domestic medium and heavy commercial vehicles (MHCV) volume grew 7 per cent during the quarter under review and the market share grew to 31.2 per cent from 30 per cent, Ashok Leyland said. The domestic light commercial vehicles volume in Q1 FY'24 stood at 14,821 units, registering a growth of three per cent over 14,384 units a year ago, the company said. "With the industry maintaining the growth in Q1 FY '24, we have been able to post excellent results with focused market performance while reining in costs. We have continued to grow our market share in Q1," said Dheeraj Hinduja, Executive Chairman, Ashok Leyland. The company is concurrently intensifying its efforts in international expansion, he said, adding, "through our electric vehicle subsidiary, Switch Mobility, we are actively moving towards net zero carbon mobility." According to the company, EBITDA grew 10 per cent to Rs 821 crore for the reporting quarter, as against 4.4 per cent (Rs 320 crore) in the year-ago period. Tax expense for the quarter was lower as it considers a one-time deferred tax credit of Rs 172 crore on account of expected transition to lower tax regime in the following financial year, the company said. The net debt-to-equity stood at 0.2 times at the end of Q1FY24, Ashok Leyland said. "With expansion in revenues and efficient cost management we have seen our bottom line improving substantially. "While we continue to expand our market penetration on the back of efficient products and expanding the network, we shall remain acutely focused on achieving and sustaining double-digit profitability," said Shenu Agarwal, Managing Director and CEO at Ashok Leyland.

Ashok Leyland Q1 2023-24 net profit jumps over eight fold to Rs 576 cr

<keyword id="46652" type="COMPANY" weightage="20" keywordseo="Truck">Truck</keyword> major <keyword id="760813" type="DOMAIN" weightage="20" keywordseo="Ashok-Leyland-Ltd">Ashok Leyland Ltd</keyword>. on Thursday said it has secured an order for 1,400 <keyword id="2032741" type="PERSON" weightage="20" keywordseo="intermediate-commercial-vehicles">intermediate commercial vehicles</keyword> (ICV) from a logistics start-up Procure Box. In a statement issued here, <keyword id="6357085" type="COMPANY" weightage="20" keywordseo="ashok-leyland">Ashok Leyland</keyword> said the order encompasses the company's model Ecomet over the next 5-6 months. "Over the last few years, Ashok Leyland has made significant efforts to increase its market share in the ICV segment and our efforts have given rich dividends," Anuj Kathuria, Chief Operating Officer, Ashok Leyland said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indias-50-billion-wedding-industry-is-gearing-up-for-a-busy-winter/articleshow/78163437.cms" data-type="tilCustomLink">India’s $50 billion wedding industry is gearing up for a busy winter — business may have shrunk in size but it has not lost its sheen</a> <a href="https://www.businessinsider.in/business/corporates/news/muthoot-finance-says-this-years-growth-is-likely-to-exceed-guidance/articleshow/78159469.cms" data-type="tilCustomLink">EXCLUSIVE: Muthoot Finance says this year's growth is likely to exceed guidance</a>

Ashok Leyland bags orders for 1,400 trucks from logistics start-up Procure Box

New Delhi, Commercial vehicle major <keyword id="6357085" type="General" weightage="20" keywordseo="Ashok-Leyland" source="Orion">Ashok Leyland</keyword> 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 has been a long-standing supplier of buses to TNSTC, having supplied over 18,477 buses till date. "This order reinforces our dedication to creating very efficient and technologically advanced products that exceed our customer expectations and contribute to the growth of public transportation," Ashok Leyland Managing Director &amp; CEO Shenu Agarwal said. The Hinduja Group flagship said it will commence the delivery of the buses within the next few months.

Ashok Leyland bags order for 552 buses from Tamil Nadu transport entity

New Delhi, Feb 12 () Hinduja Group flagship Ashok Leyland on Wednesday said its consolidated net profit declined 86.68 per cent to Rs 57.11 crore for the third quarter ended on December 31, 2019. The company had posted a net profit of Rs 428.76 crore for the December quarter of 2018-19. Revenue from operations declined to Rs 5,188.84 crore for the third quarter as compared with Rs 7,489.64 crore in the same period of previous fiscal, Ashok Leyland said in a regulatory filing. "The industry continued to witness a decline in volume (39 per cent). Ashok Leyland also witnessed a volume drop in this quarter," Ashok Leyland MD and CEO Vipin Sondhi said. The company has been seeding its range of heavy duty BS-VI vehicles in the market, well before the April 2020 deadline, he added. "Along with the roll-out of the BS-VI vehicles, we will also be introducing our unique modular business platform that will give our customers the flexibility to choose vehicles as per their requirement," Sondhi said. Ashok Leyland Whole Time Director and Chief Financial Officer Gopal Mahadevan said the company continues with its productivity and cost reduction programmes started earlier. "These initiatives have helped us achieve a sizeable reduction in costs. We are also focusing on cash flows and conserving resources for future growth initiatives," he added. Shares of Ashok Leyland on Wednesday ended 1.81 per cent down at Rs 81.35 apiece on the BSE. MSS RUJ

Ashok Leyland Q3 net down 87 pc at Rs 57 cr

Commercial vehicle maker <keyword id="6357085" type="General" weightage="100" keywordseo="ashok-leyland" source="Orion">Ashok Leyland</keyword> on Thursday said its profit after tax nearly tripled to Rs 561 crore in September quarter 2023-24. In the year-ago period, the PAT was Rs 199.31 crore. Revenues during the quarter under review rose to Rs 9,638 crore from Rs 8,266 crore in the second quarter of FY23, the company said in a statement. It said EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) for the quarter was Rs 1,080 crore as against Rs 537 crore in the corresponding quarter of FY23. Net debt stood at Rs 1,139 crore at the end of the second quarter, it said. The domestic medium and heavy commercial vehicles (MHCV) sales stood at 29,947 units, up 18% from the second quarter of the previous fiscal, which is in line with industry growth. Light commercial vehicle (LCV) volume was at 16,998 units compared to 17,040 LCVs sold in the same period last year, Ashok Leyland said. Export volumes for the quarter (MHCV &amp; LCV) were 4% higher at 2,901 units from the year-ago period despite multiple socio-political challenges across the globe. The company said while its overall MHCV MS is moving in the right direction, it significantly increased its bus market share, making it the top bus manufacturer in the country. "We have grown and grown profitability. The second half of the year appears to have the twin tailwinds of demand growth and softer commodity prices which should improve the profitability of the industry," Shenu Agarwal, Managing Director and Chief Executive Officer of Ashok Leyland, said. This is the third consecutive quarter of double-digit EBITDA, he said, adding that there is tremendous focus on margin enhancement, network expansion, operational efficiency, cost optimisation and deployment of digital as an enabler for growth and productivity. There is an enhanced thrust to grow all non-MHCV businesses as well and "we expect to see the benefits of all of this in the coming quarters," he added. Further, the company said that its all other businesses posted good growth in the current quarter and added that it expanded its MHCV range by launching new products in tipper, tractor and MAV categories. The focus on expansion of the distribution network continued with further addition of 47 touch points in the quarter, especially in the northern and eastern parts of the country, it said. "We continue to see strong demand in all segments of trucks and passenger vehicles. The industry continues to post strong growth, on the back of strong macroeconomic factors and we are confident that FY24 will see further growth in the second half as well," <keyword id="454707" type="General" weightage="50" keywordseo="dheeraj-hinduja" source="Orion">Dheeraj Hinduja</keyword>, Executive Chairman of Ashok Leyland, said. While International business globally is challenged owing to the conflicts across the globe, "we are intensifying our expansion strategy in our focus markets of the Middle East, Africa and Asia," he said. The company continues to build its capabilities in alternative energy and shall be soon coming up with some exciting products and solutions, Hinduja added.

Ashok Leyland PAT nearly triples to Rs 561 cr in September quarter

<keyword id="6357085" type="PERSON" weightage="20" keywordseo="Ashok-Leyland">Ashok Leyland</keyword>, a leader in heavy vehicle producing company, just gave India its first electric bus. You won’t have to tolerate the black smoke from buses and this electric bus is developed keeping Indian roads and load conditions in mind. 
 "India's first ever fully electric bus, developed for India and made in India, is a big leap in mass public transport and we are glad that Ashok Leyland has been able to deliver this. This vehicle will support the government initiative of reducing India's eight lakh crore fuel import bill and is a promise for a brighter and cleaner future for all of us and for our future generations," <keyword id="304835" type="PERSON" weightage="20" keywordseo="Ambuj-Sharma">Ambuj Sharma</keyword> IAS, additional chief secretary, industries and commerce, government of <keyword id="20154" type="ORGANIZATION" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword> told ET. 
 The bus is presented in lines with <keyword id="1274791" type="UNKNOWN" weightage="20" keywordseo="National-Electric-Mobility-Plan">National Electric Mobility Plan</keyword> which plans a 20% entrance of electric/crossover vehicles by 2020. Not only the bus will provide zero tailpipe discharges and lower noise pollution but will also offers lessened running expenses to the operator. 
 "It can deliver payback to the customer in about 4-5 years. The Circuit series of buses is another testament to Ashok Leyland's commitment to leverage India's technological innovation to deliver relevant and best-in-class solutions for India and the world," <keyword id="895924" type="PERSON" weightage="20" keywordseo="Vinod-Dasari">Vinod Dasari</keyword>, managing director, Ashok Leyland told ET

India just got its first electric bus

New Delhi, Feb 3 () Hinduja group flagship firm Ashok Leyland on Monday reported 39.9 per cent decline in total vehicles sales at 11,850 units in January.
 The company had sold 19,741 units in the same month last year, Ashok Leyland said in a regulatory filing.
 Total domestic vehicles sales stood at 10,850 units in January against 18,533 units in the year-ago period, registering a decline of 41.4 per cent.
 Medium and heavy commercial vehicles (M&amp;HCV) sales in domestic market were down 49.1 per cent at 6,949 units in January this year, as compared to 13,663 units in the year-ago month, it added.
 Light commercial vehicle sales last month stood at 3,901 units as compared to 4,870 units in January 2019, down 19.8 per cent the company said.
 Shares of Ashok Leyland were trading at Rs 76.40 a piece on BSE, down 0.78 per cent from the previous close. SID DRR

Ashok Leyland sales down 40 pc at 11,850 units in Jan

New Delhi, Mar 18 () Commercial vehicle maker Ashok Leyland on Wednesday said it will acquire up to 19 per cent additional stake in its subsidiary Hinduja Leyland Finance Ltd (HLFL) from existing shareholders for up to Rs 1,200 crore. The company's board, at a meeting held on Wednesday, has approved to acquire up to 19 per cent additional equity shares in HLFL from the existing shareholders in tranches for a consideration not exceeding Rs 1,200 crore subject to sanctions and permissions of the appropriate authorities, Ashok Leyland said in a regulatory filing. The agreement to acquire equity shares in HLFL from the existing shareholders will be entered by the company in due course, it added. "As and when the company completes acquiring shares in tranches and if the said acquisition exceeds two per cent or more of the equity shares of HLFL, the company will inform the stock exchanges, as required," it added. As of March 31, 2019, revenue of HLFL, a non-banking finance company, stood at Rs 2,560.64 crore. Ashok Leyland's shares on Wednesday ended 0.16 per cent higher at Rs 64.35 apiece on the BSE. MSS RVK

Ashok Leyland to acquire up to 19 pc additional stake in NBFC arm

<keyword id="120582" type="CITY" weightage="20" keywordseo="Hinduja-Group">Hinduja Group</keyword>’s flagship company and commercial vehicle major <keyword id="6357085" type="PERSON" weightage="20" keywordseo="Ashok-Leyland">Ashok Leyland</keyword> has sold a part of its stake in its wholly owned subsidiary Hinduja Tech Limited (HTL). The company now holds 62% stock in the subsidiary company. 
 “To unlock value, HTL has roped in a strategic investor to subscribe to the equity share capital of the company. Co<keyword id="6354646" type="CITY" weightage="20" keywordseo="NSE">nse</keyword>quent to the allotment of equity shares to the strategic investors, the holding of AL now stands at 62%,” the company informed the National Stock Exchange (NSE) in a letter. 
 
Earlier, Ashok Leyland had informed the exchange that following stake sale, the company’s share had reduced to 68%. Also, it has also not disclosed the value at which the stake was sold. 
 
Hinduja Tech Limited was launched in 2009, and since then it has been providing solutions and services to sectors such as automotive, defence, aerospace, industrial and general manufacturing industries. 
 
Image: Indiatimes.com

Hinduja Technology Becomes Subsidiary, Ashok Leyland Sells 38% Stake

New Delhi, Mar 2 () Hinduja flagship firm Ashok Leyland on Monday reported 37 per cent decline in total sales at 11,475 units in February as against 18,245 units in the same month last year.Domestic sales declined 39 per cent to 10,612 units last month as compared to 17,352 units in February 2019, Ashok Leyland said in a statement. Total medium and heavy commercial vehicle sales in the domestic market dipped 47 per cent to 6,745 units as against 12,621 units in the same month last year, it added. Light commercial vehicle sales also declined 18 per cent at 3,867 units as compared to 4,731 units in February last year, the company said. RKL RKL ANUANU

Ashok Leyland February sales down 37% at 11,475 units

After the <keyword id="1642732" type="UNKNOWN" weightage="80" keywordseo="Indian-Automobile-Manufacturer">Indian automobile manufacturer</keyword> <keyword id="6357085" type="PERSON" weightage="60" keywordseo="Ashok-Leyland">Ashok Leyland</keyword> reported 48% year-on-year jump in December 2014’s total sales, the company’s shares rallied 7.77% to Rs 57.55 at 2:40 pm on <keyword id="35140" type="CITY" weightage="60" keywordseo="BSE">BSE</keyword> and also hit a record high of Rs 58.40. In 2014, the auto major had sold 9,290 units against 6,275 units that were sold in 2013 during the same month under review, a PTI report stated. 
 As per a statement issued by the <keyword id="1419513" type="UNKNOWN" weightage="80" keywordseo="Chennai-based-company">Chennai-based company</keyword>, the sale of medium and heavy commercial vehicles surged 85% in December 2014 to 7,210 units as compared to 3,890 units sold during the same month in 2013. 
 Looking at the sale trends of <keyword id="163353" type="UNKNOWN" weightage="80" keywordseo="light-commercial-vehicles">light commercial vehicles</keyword>, the sales fall by 13% to 2,080 units in December 2014 as against 2,385 units recorded during the same period last year. 
 
Earlier, a PTI report had revealed, “The total sales of Ashok Leyland during the April-December 2014 period grew by 12% to 70,743 units from 63,294 units sold during the corresponding period of the previous year.”

Ashok Leyland Shares Jump On Strong December, 2014 Sales

New Delhi, Apr 1 () Shares of Ashok Leyland on Wednesday dropped 4.5 per cent after the company reported 90 per cent decline in total vehicles sales in March. The scrip tanked 4.53 per cent to close at Rs 41.10 on the BSE. During the day, it dropped 6.85 per cent to Rs 40.10. On the NSE, it fell 4.29 per cent to close the day at Rs 41.20. In traded volume terms, 12.97 lakh shares were traded on the BSE and 3.71 crore shares were traded on the NSE during the day. The Hinduja group flagship firm reported 90 per cent decline in total vehicles sales at 2,179 units in March. The company had sold 21,535 units in the same month last year, Ashok Leyland said in a regulatory filing. SUM ANSANS

Ashok Leyland shares drop 4.5 pc after March sales data

New Delhi, Apr 1 () Hinduja group flagship firm Ashok Leyland on Wednesday reported 90 per cent decline in total vehicles sales at 2,179 units in March. The company had sold 21,535 units in the same month last year, Ashok Leyland said in a regulatory filing. Total domestic vehicles sales stood at 1,787 units in March against 20,521 units in the year-ago period, registering a decline of 91 per cent. Medium and heavy commercial vehicles (M&amp;HCV) sales in domestic market were down 90 per cent at 1,498 units last month, as compared to 15,235 units in the year-ago month, it added. Light commercial vehicle sales last month stood at 289 units as compared to 5,286 units in March 2019, down 95 per cent, the company said. MSS DRRDRR

Ashok Leyland March auto sales down 90 pc at 2,179 units

Commercial vehicle major <keyword id="760813" type="General" weightage="80" keywordseo="ashok-leyland-ltd" source="Orion">Ashok Leyland Ltd</keyword> closed the first quarter of FY23 with an after tax profit of Rs 68 crore. According to the company, it had posted a revenue of Rs 7,223 crore for the quarter ended 30.6.2022 (Q1FY22 Rs 2,951 crore) and a net profit of Rs 68 crore (net loss Rs 282 crore). "The industry has seen strong volume growth in Q1 FY'23, and we expect this trend to continue going forward. The team is focused on market performance while reining in costs this quarter," <keyword id="454707" type="General" weightage="80" keywordseo="dheeraj-hinduja" source="Orion">Dheeraj Hinduja</keyword>, Executive Chairman said. "With expansion in revenues and efficient cost management we have seen our bottom line improving. The softening of commodity prices, in particular for steel, should impact our margins positively, said <keyword id="1858880" type="General" weightage="80" keywordseo="gopal-mahadevan" source="Orion">Gopal Mahadevan</keyword>, Director &amp; CFO. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/the-way-forward-for-indias-emerging-data-centre-market/articleshow/93212366.cms">The way forward for India’s emerging data centre market</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/top-10-most-chosen-fmcg-brands-of-india-as-per-kantar-report/slidelist/93206746.cms">Parle, Amul and Britannia are the most chosen FMCG brands of India in 2021: Kantar report</a>

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