Ashok Leyland within the first 9 months of the monetary 12 months ending December 31, 2023 reported its highest turnover of Rs 27,100 crore, highest gross sales quantity at 1,38,416 models, EBITDA of Rs 3,014 crore and Revenue After Tax of Rs 1,718 crore.
“Whereas we’ve got began doing very properly now within the North and East zones which have been historically our weaker markets, there may be definitely ample headroom to develop additional. We’re progressing properly on our community growth plans, particularly within the North and East zones” firm Managing Director Shenu Agarwal mentioned.
Ashok Leyland to gasoline its community growth plans, has tied up with the diversified conglomerate TVS Group.
“We’ve tied up with the TVS Group with whom we get pleasure from a long-standing partnership in Tamil Nadu and Kerala, to symbolize us within the Nationwide Capital Area. We hope to begin launching a number of new shops on this area inside the subsequent few months,” he mentioned on the current name with analysts.
Elaborating, he mentioned the corporate has added 37 authorised service centres and 44 sellers for the medium, heavy industrial automobile enterprise within the first three quarters of the 12 months. “Now, we’re at a complete of 399 authorised service centres and 491 sellers all through the nation. We want to take this quantity to 1,000 in occasions to come back.” he mentioned. Noting that the corporate’s electrical automobile arm Swap Mobility has been essential for future proofing Ashok Leyland, he mentioned, within the October-December 2023, Ashok Leyland invested Rs 662 crore of the entire fairness funding of Rs 1,200 crore authorised by the Board in Optare PLC, the UK.
“AL (Ashok Leyland) shall be inducting the stability fairness in a couple of tranche over the following few months.” he mentioned.
The stability sheet of Ashok Leyland is powerful sufficient to assist the imaginative and prescient on electrification of buses and light-weight industrial autos underneath the Swap model.
“I’m completely satisfied to share that Swap merchandise are performing extraordinarily properly available in the market. We’re very enthusiastic about beginning to ship our first batch of electrical LCVs inside the subsequent few months,” he added.
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