Ashok Leyland Secures ₹345 Crore TNSTC Order

13 Dec 2024 , 11:59 AM

Ashok Leyland Ltd has won an order for 1,475 BSVI diesel passenger bus chassis from Tamil Nadu State Transport Corporation (TNSTC). The order value, the company said in its filings, is about ₹345.58 crore. The tenders will be issued for supplying the bus chassis between December 2024 and May 2025, it added further. Being done on normal business terms without adverse conditions, added.

Shares of Ashok Leyland in the National Stock Exchange are trading at ₹227.43 at 11:45 am on December 13, 2024, which stands 1.12% lower than the previous close. Ashok Leyland registered a total gain of 30% in the last one year, 3.95% fall in the last six months, and a rise of 4.6% in the last one month.

Other business undertakings by subsidiary or LLC Ashok Leyland Russia have also been placed on liquidation. Post-litigation, the organization under LLC Ashok Leyland Russia has been entirely wound off.

The net profit of the company increased by 37% year on year to ₹770 crore. Revenue fell 9% year on year to ₹8,769 crore from ₹9,638 crore a year ago. EBITDA rose 5.8% year on year to ₹1,017 crore. Operating margin increased to 11.6%, an increase of 40 basis points over last year.

Ashok Leyland Limited is an Indian multinational automobile company with its headquarters in Chennai. It is owned by the Hinduja Group and plays a crucial role in the global commercial vehicle industry. The corporate office is located in Chennai. The manufacturing facilities are in Ennore, Bhandara, two in Hosur, Alwar and Pantnagar.

Ashok Leyland also has overseas manufacturing units with a bus manufacturing facility in Ras Al Khaimah (UAE), one at Leeds, United Kingdom and a joint venture with the Alteams Group for the manufacture of high-press die-casting extruded Aluminium components for the automotive and telecommunication sectors.