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Home arrow News arrow Automotive arrow Ashok Leyland turnover goes up by 53.5% - crosses Rs 10,000 crore mark
Ashok Leyland turnover goes up by 53.5% - crosses Rs 10,000 crore mark Print E-mail
Written by R. Kurudamannil   
Friday, 20 May 2011
Chennai: Auto major Ashok Leyland has registered a sales turnover of Rs.11,117.71 crores during 2010-11 compared to Rs 7244.71 crores in the previous fiscal reflecting a rise of a whopping 53.5%.

Domestic sales jumped by 45% and exports by 72%. The bottom line was also healthy with the net profit rising by 49.0%. The companies market share also increased marginally by 2.4%. There was a 67 per cent increase in the number of vehicles sold (95,337 units including exports of 10,306 units).

The Financial Year 2010-2011 also saw the highest number of products introduced into the market, in the company's history. Ashok Leyland launched 750 new truck variants last year.

In the M&HCV segment, Ashok Leyland’s share rose by 2.4 percentage points to reach 26%. Gains were recorded in all the various product segments as well as in all the regions with the Company maintaining its leadership position in the passenger segment.

The current year would be a 'year of growth and consolidation' for the company. Vinod Dasari, MD of Ashok Leyland warned that rising interest costs and diesel prices are going to be the growth dampeners for the future.

He said the Ashok Leyland's long term vision is to be amongst the top 10 in trucks and top 5 in buses, globally.

"FY 2010-11 has indeed been a watershed year for Ashok Leyland," is how Vinod K. Dasari described the year. "Apart from recording the highest domestic and exports volumes, our production hit an all-time high, we introduced the highest number of products into the market, the ramp-up at our Pantnagar plant was the fastest and our customer touch points saw the highest increase in numbers very much in consonance with our business strategy of customer-centricity. Truly it was a year of records." he added.

The company plans to invest Rs 1,000 crore in it's recently formed joint ventures, development of new vehicles, and the new engine, Neptune.

For the year ended March 31, 2011, Ashok Leyland has posted a net profit of Rs 631.29 crore, up 49 per cent from Rs 423.67 crore in the previous fiscal.

About the prospects for the current year, Dasari said, "2011-2012 is going to be a year of growth and consolidation for Ashok Leyland in quest of our vision to be among the global top 10 in trucks and top 5 in buses. The launch of ‘DOST’ from the Ashok Leyland-Nissan stable will make the Company a full range CV player. On the exports front, our focus will be on consolidating our presence in the SAARC markets while at the same time target the growing markets of Asia, Africa and CIS. Rising interest costs and diesel prices are going to be growth dampeners but since the fundamentals remain strong and the economy continues to be on a growth trajectory, we are cautiously optimistic of the future."

Last Updated ( Thursday, 26 May 2011 )
 
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