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.

Ashok Leyland , one of India's leading commercial vehicle manufacturers, saw its shares surge 8.2% to ₹131.96 on the stock market, touching a new 52-week high of ₹132.80. The impressive rally comes on the heels of the company's stellar first-quarter performance.

Record-Breaking Q1 Performance

The company reported its highest-ever Q1 revenue of ₹8,725.00 crore, accompanied by record volumes of 44,238 units. This exceptional performance was further underscored by significant improvements in key financial metrics:

• EBITDA: Improved to ₹970.00 crore
• EBITDA Margin: Expanded by 50 basis points year-on-year to 11.1%
• Profit After Tax (PAT): Increased to ₹594.00 crore from ₹526.00 crore in the same period last year

Market Share Gains and Volume Growth

Ashok Leyland demonstrated strong performance across various segments:

• Medium and Heavy Commercial Vehicles: Market share increased from 28.9% to 30.7%
• Light Commercial Vehicles: Achieved an all-time quarterly high of 15,566 units
• Exports: Grew by 29% to 3,011 units

Financial Position and Industry Outlook

The company maintained a robust financial position, reporting a cash-positive balance of ₹821.00 crore. Looking ahead, Ashok Leyland anticipates mid-single-digit growth in the domestic commercial vehicle industry.

Analyst Outlook

Leading brokerages have maintained bullish ratings on Ashok Leyland, with target prices ranging from ₹135.00 to ₹146.00, reflecting confidence in the company's growth trajectory.

Recent Corporate Developments

In other corporate news, Ashok Leyland recently held its 76th Annual General Meeting (AGM). The meeting, conducted through video conferencing, saw shareholders voting on various resolutions, including the adoption of financial statements, dividend confirmation, and the appointment of directors and auditors.

Key highlights from the AGM include:

• Confirmation of two interim dividends: ₹2.00 and ₹4.25 per equity share
• Re-appointment of Mr. Gopal Mahadevan as a director
• Appointment of M/s. B. Chandra & Associates as Secretarial Auditors for a term of up to 5 years
• Appointment of Mr. Sven Christoph Ennerst as an Independent Director for a five-year term

All resolutions were passed with the requisite majority, demonstrating strong shareholder support for the company's governance and strategic direction.

As Ashok Leyland continues to navigate the dynamic commercial vehicle market, its record-breaking performance and strategic initiatives position it well for sustained growth in the coming quarters.