- Wealth PMS
Hinduja group flagship Ashok Leyland won $170 million (₹ 1140 crore) order from the government of United Republic of Tanzania. The order is for purchase of Ashok Leyland’s vehicles, gensets, spares and equipment for development of workshops, training modules and allied equipment to be fitted on ambulances. The company has also won a deal to supply new engine kits for the Sri Lanka Transport Board. The order is for 163 engine kits at US$ 11,550 each.
Early during the month, Ashok Leyland handed over the keys to its first Intermediate Commercial Vehicle (ICV) – Guru to the Shiromani Gurdwara Parbandhak Committee (SGPC) at the Golden Temple, Amritsar, Punjab.
The company also launched India’s first Made-in-India electric bus – Circuit which has taken an investment of over 150 crore and can travel 120 km on a single charge. Priced around 1.5 to 3 crore, it can deliver payback to the customer in about 4-5 years.
Ashok Leyland is also setting up a manufacturing plant in Telangana at an investment of Rs.500 crore having entered into a MoU with the state government. The plant is expected to provide direct employment to over 1,000 people.
Its division i.e. Ashok Leyland Defence Systems (ALDS) that manufactures various products catering to all logistics requirements including troop/load carrying vehicle, light recovery vehicles, field artillery tractor and truck fire-fighting, among others – hopes to log in four-fold jump in revenues at over Rs 2,000 crore in next five years as it gears up to provide an entire range of mobility solutions, including missile carrying vehicles, to the armed forces. Its focus remains on moving anything that the armed forces require to be moved.
With AL’s Q2 results due on 8-Nov, the company today released its sales data for October:
- Total Sales Growth at 27.8% and YTD growth at 2.4%
- Medium and Heavy Commercial Vehicles sales grew from 7,176 units a year ago to 9,574 units.
- Light Commercial Vehicles growth stood at 12.6% with 2,959 units.
Like it or hate it, do leave us with your reviews in the comment section below.