Ashok Leyland Ltd announced on December 12 that it has secured a ₹345.58 crore order from the Tamil Nadu State Transport Corporation (TNSTC) to supply 1,475 BSVI diesel bus chassis. The order, finalized through a competitive tender process, mandates deliveries between December 2024 and May 2025.
In its regulatory filing, the company stated, “We have been awarded a contract to deliver 1,475 BSVI diesel bus chassis to TNSTC.” The agreement follows standard commercial terms and contains no unfavorable conditions.
Ashok Leyland also announced the completion of the voluntary liquidation of its step-down subsidiary, LLC Ashok Leyland Russia. This entity, which was not classified as a material subsidiary, has now ceased operations following the liquidation process.
The company reported a 37% year-on-year increase in net profit, reaching ₹770 crore in the recent quarter, compared to ₹561 crore during the same period last year. Revenue, however, fell by 9% year-on-year to ₹8,769 crore, down from ₹9,638 crore a year ago. Despite this decline, it exceeded the estimated ₹8,764 crore as per CNBC-TV18’s poll.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 5.8% year-on-year to ₹1,017 crore, surpassing market expectations of ₹954 crore. Operating margins also improved, increasing to 11.6% from 11.2% in the same quarter last year, outperforming the projected 10.9%. Ashok Leyland continues to demonstrate robust performance in both operational efficiency and its market presence in the commercial vehicle sector.
Ashok Leyland, a flagship company of the Hinduja Group, stands as a leader in the commercial vehicle (CV) sector. Ranked as the 2nd largest CV manufacturer in India, the 4th largest bus producer globally, and the 19th largest truck maker worldwide, Ashok Leyland has cemented its reputation as a global powerhouse.
Headquartered in Chennai, the company operates seven manufacturing plants across India, with additional facilities in Ras Al Khaimah (UAE) and Leeds (United Kingdom). With a diverse product portfolio and an expansive international presence, the brand has recently been ranked as the 34th best brand in India.
A US $4.5 billion multinational corporation with a 75-year legacy, Ashok Leyland operates in over 50 countries and boasts one of the most extensive and rapidly growing networks in the CV industry. Its 52,863 touchpoints include 1,748 exclusive centers and 11,207 Leyparts outlets, ensuring accessibility for its customers.
The company delivers on its “Ashok Leyland Quick Response” promise with service centers every 75 kilometers on major highways, committing to reach customers within four hours and resolving issues within 48 hours. It also runs 12 driver training institutes across India, having trained over 1.8 million drivers to date.
Guided by the philosophy of “Koi Manzil Door Nahin”—symbolizing that no goal is too far to achieve—Ashok Leyland remains committed to driving innovation and evolution. By leveraging cutting-edge technology, understanding diverse customer needs, and fostering sustainability, the company continues to play a pivotal role in India’s progress while serving its stakeholders with dedication.
