Town-headquartered firm reported a 61 per cent rise in web revenue of Rs 580 crore on the again of strong gross sales. The corporate had posted a web revenue of Rs 361 crore within the year-ago interval.
“The third quarter (of the present monetary 12 months) has been the very best for Ashok Leyland. Earlier than the beginning of this monetary 12 months we had anticipated that the medium and heavy industrial automobile trade will develop at 8-10 per cent. The market has grown by 9 per cent (as of October-December 2023 interval). Ashok Leyland has grown by 7 per cent in step with the trade progress and progress in bus phase is at 65 per cent virtually twice the trade progress,” Dheeraj Hinduja, the corporate’s Government Chairman, stated.
The heavy industrial automobile maker has additionally improved its market share from 28.2 per cent, final 12 months to 33 per cent now and not too long ago handed over the primary set of keys of 14 tonne Boss Electrical Vans to Billion E-Mobility on the Bharat Mobility World Expo in New Delhi, he stated.
“Ashok Leyland is nearing market trials of absolutely electrical 55 tonne AVTAR Tractor Trailers for lengthy haul transport. Now we have began doing now it within the North and East the place there’s extra headroom to develop,” he stated.
The corporate was additionally increasing its vendor community and repair in the direction of reaching the goal of 1,000 from the present 890, he stated. On the Gentle Business Car trade, Hinduja stated, “The trade has seen a 3 per cent de-growth this 12 months and our (Ashok Leyland) volumes have grown by 2 per cent which has resulted in market share enchancment of 1 per cent.” “I’m assured with the energy of present and new merchandise backed by steady growth of the gross sales community. We’ll proceed to develop in each LCV and MHCV regardless of difficult worldwide market situations. Now we have managed to remain marginally forward of the volumes clocked final 12 months,” he stated.
Hinduja stated the corporate posted progress in non-commercial automobile companies with income contributed from spare components rising greater than 30 per cent whereas volumes in energy options surged by 40 per cent in the course of the April-December 2023 interval.
Revenues from the defence phase additionally went up by “three and half occasions” extra, over the identical interval of final 12 months, he stated.
“We’re on monitor in the direction of reaching our mid-term objectives of product and market share growth, bettering geographical presence and turning into extra worthwhile,” he stated.
To a question concerning the capital infusion into firm’s EV arm SWITCH Mobility, Ashok Leyland Managing Director and CEO, Shenu Agarwal stated, “the Ashok Leyland Board has permitted an fairness infusion of Rs 1,200 crore into Optare which is the holding firm for Change India and UK. Out of that Rs 1,200 crore, we’ve got already infused Rs 662 crore within the quarter passed by (October-December 2023). The remainder of the quantity we’ll infuse within the subsequent few months in a number of tranches.”
Requested concerning the new product launches within the coming months, he stated the corporate was near launching its electrical LCVs underneath the SWITCH model. “Let me start with the one we’re actually very enthusiastic about. It is rather near a market launch. I feel inside the subsequent two to a few months, it ought to see the sunshine of the day. And that’s our electrical LCVs that can be launched underneath the SWITCH model,” Agarwal stated.
The corporate was additionally near launching its 55 tonne electrical tractor trailer, he added.
Agarwal stated the corporate would provide you with a product underneath the sunshine industrial automobile phase that can cater to the sub two tonne market phase. “That product can be on the anvil which can be launched someday in FY25,” he stated.
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