Ashok Leyland , a leading commercial vehicle manufacturer, has initiated a postal ballot process to seek shareholder approval for the appointment of two new Non-Executive Independent Directors to its Board. The company aims to strengthen its leadership team with the addition of Ms. Geeta Mathur and Mr. Sridharan Kesavan, both bringing extensive experience in finance and corporate governance.

Proposed Appointments

The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, has proposed the following appointments:

1. Ms. Geeta Mathur: Proposed for a five-year term from August 25, 2025, to August 24, 2030.
2. Mr. Sridharan Kesavan: Proposed for a three-year term from August 25, 2025, to August 24, 2028.

Both candidates were initially appointed as Additional Directors by the Board, effective August 25, 2025.

About the Nominees

Ms. Geeta Mathur

• Chartered Accountant with a B.Com (Hons) from Shri Ram College of Commerce, Delhi University
• Extensive corporate experience, currently serving on multiple company boards
• Expertise in finance, risk management, and corporate governance
• Recipient of the Women Independent Director of the Year award in 2023

Mr. Sridharan Kesavan

• Chartered Accountant and Cost Accountant with a B.Com from Madras University
• Former Chief Financial Officer of Ashok Leyland (32 years of service)
• Rich experience in finance, including budgeting, taxation, and corporate treasury
• Led key financial initiatives, international fund-raising, and strategic acquisitions

Voting Process

Ashok Leyland has initiated an e-voting process for shareholders to cast their votes on these appointments:

• E-voting period: September 6, 2025 (9:00 AM) to October 5, 2025 (5:00 PM)
• Results announcement: On or before October 7, 2025

The company has appointed M/s. B. Chandra & Associates, Practicing Company Secretaries, as the scrutinizer for conducting the postal ballot process.

Compliance and Disclosures

Both nominees have submitted declarations confirming their independence and eligibility as per the Companies Act, 2013, and SEBI Listing Regulations. The Board has expressed its opinion that Ms. Mathur and Mr. Kesavan fulfill the conditions specified for appointment as Independent Directors and are independent of the company's management.

Ashok Leyland's move to appoint these experienced professionals aims to enhance its Board's expertise and strengthen corporate governance practices. Shareholders will play a crucial role in finalizing these appointments through their votes in the ongoing postal ballot process.

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.