Ashok Leyland , a leading commercial vehicle manufacturer, has reported a robust performance in August, with sales figures exceeding market expectations. The company's latest disclosure to the stock exchanges reveals a significant year-on-year growth in vehicle sales.

Sales Performance

Ashok Leyland sold 15,239 units in August, marking a 5.4% increase from the 14,463 units sold in the same month last year. This performance surpassed analyst estimates of 14,810 units by 429 units, demonstrating the company's strong market position.

Segment-wise Breakdown

The company's sales data provides insights into various vehicle categories:

Key Highlights

• M&HCV Segment: The Medium and Heavy Commercial Vehicle (M&HCV) segment showed strong growth, with total sales of 9,381 units, up 8% year-on-year.
• Bus Sales Boom: The most notable increase was in the M&HCV Bus category, which saw a remarkable 36% growth, with 2,643 units sold compared to 1,944 in the previous year.
• Steady LCV Performance: Light Commercial Vehicle (LCV) sales remained stable with a 1% increase, selling 5,858 units.

Domestic Market Performance

In the domestic market, Ashok Leyland reported:

• Total vehicle sales of 13,622 units, a 2% increase from last year.
• M&HCV sales of 7,991 units, up 3% year-on-year.
• LCV sales of 5,631 units, showing a 1% growth.

Cumulative Sales

The cumulative sales figures for the fiscal year to date also show positive trends:

• Total vehicle sales (domestic + exports) reached 74,541 units, a 3% increase from the previous year.
• M&HCV segment sales grew by 4% to 46,981 units.
• LCV sales increased by 1% to 27,560 units.

Ashok Leyland's performance in August, particularly in the bus segment, indicates a recovering demand in the commercial vehicle sector. The company's ability to surpass analyst expectations suggests a strong market position and effective operational strategies in navigating the current economic landscape.

Investment in Battery Ecosystem

In a significant move towards sustainability, Ashok Leyland has announced plans to invest Rs 5,000 crore over the next 7-10 years in battery ecosystem development in India. This strategic decision aims to develop next-generation batteries for automotive and non-automotive applications, including energy storage systems.

Key aspects of this investment include:

• Exclusive partnership with China's CALB Group for battery technology.
• Initial focus on automotive applications, with plans to expand into energy storage systems.
• Establishment of a Global Centre of Excellence for research and development in battery materials, recycling, battery management systems, and manufacturing processes.
• The initiative will serve both Ashok Leyland's own electric vehicle portfolio through its subsidiary Switch and external demand across the automotive and energy storage sectors.

Chairman Dheeraj Hinduja stated that this partnership aims to create a localized battery supply chain to accelerate electric vehicle adoption and reduce fossil fuel dependence in India. This investment aligns with Ashok Leyland's commitment to a sustainable future and is expected to strengthen its position in the evolving automotive landscape, particularly in the electric vehicle segment.

Ashok Leyland , a leading commercial vehicle manufacturer in India, has announced the appointment of two new independent directors to its board, signaling a move to enhance its corporate governance and strategic oversight.

New Appointments

The company has appointed Ms. Geeta Mathur as an Additional Director Woman (Non-Executive, Independent) for a five-year term and Mr. Sridharan Kesavan as an Additional Director (Non-Executive, Independent) for a three-year term. Both appointments are effective from August 25, 2025, and are subject to shareholder approval.

Ms. Geeta Mathur's Profile

Ms. Geeta Mathur brings a wealth of experience to Ashok Leyland's board:

• Chartered Accountant and B.Com (Hons) graduate from Shri Ram College of Commerce, Delhi University
• Currently serves as a director on multiple company boards, including JSW One Platforms Limited, Dixon Technologies (India) Limited, and Info Edge India Limited
• Extensive experience in finance, risk management, and corporate governance
• Recipient of the Women Independent Director of the Year award by Mentor by Board at the 3rd Mentor MyBoard's Women Directors Conclave 2023

Mr. Sridharan Kesavan's Profile

Mr. Sridharan Kesavan brings insider knowledge and financial expertise to the board:

• Chartered Accountant, Cost Accountant, and B.Com graduate from Madras University
• Served as Chief Financial Officer of Ashok Leyland for nearly 32 years before retiring in August 2013
• Led key financial initiatives, including international fund-raising, investor relations, and strategic acquisitions
• Played a crucial role in implementing ERP systems and streamlining financial processes
• Currently serves as an Independent Director of Hinduja Tech Limited

Strengthening Corporate Governance

The appointments of Ms. Mathur and Mr. Kesavan are expected to bring fresh perspectives and strengthen Ashok Leyland's board. Their diverse experiences in finance, corporate governance, and industry-specific knowledge align well with the company's growth strategies and compliance requirements.

Ashok Leyland has confirmed that both directors are not debarred from holding director positions by any regulatory authority and are not related to existing company directors. These appointments underscore the company's commitment to maintaining a balanced and experienced board to guide its future endeavors.

The company's shareholders will have the opportunity to approve these appointments, further solidifying Ashok Leyland's corporate governance structure and paving the way for continued growth and innovation in the commercial vehicle sector.