Sri Lanka's economy has stabilised over the past nine months after the country secured a USD 2.9 billion bailout from the International Monetary Fund (IMF), brought inflation levels under control and embarked on rebuilding its foreign exchange reserves.
Tyre manufacturer CEAT, the flagship company of RPG Enterprises, has inaugurated its state-of-the-art fully automated warehouse in the city. The warehouse, which has a capacity of two lakh finished tyres, can be expanded two-three times over the next five years.
In the domestic market, the commercial vehicle maker sold 2738 units last month compared to 1277 units in May 2020.
“We are looking at least Rs1000 crore from the digital marketplace in the next 3 years as a new revenue stream for the company,” says Venkatesh Natarajan, SVP - IT, Ashok Leyland
As a group, Shree Automotive today deals in four auto brands and one non-auto brand (distribution of ITC cigarettes, foods etc), operating out of 30 branches, with 1,500 employees, and having an annual group turnover of Rs 1,200 crore with sales of 8,000 vehicles a year, servicing 250 vehicles a day, with a customer base of over 30,000 customers.
The promoters held 51.29 per cent stake in the company as of March 2017.
Edelweiss Securities believes that the traditional auto sector valuation framework is undergoing a change, reflecting business dynamics (growth and cash flows), individual company domination and prospects, and drawing parallels with consumers facing businesses across sectors (from banking to commodities).
Soon, Chennaiites can travel in environment-friendly electric buses operated by the Metropolitan Transport Corporation (MTC). Transport minister M R Vijayabaskar on Saturday made an announcement in this regard on the floor of the state assembly, when demands for grants for transport department came up.
Hinduja Leyland Finance has bought the pooled loan portfolios against the loan receivables of companies operating across segments such as microfinance, commercial vehicle and small business loan.
According to reports, the country’s second largest commercial vehicles (CV) manufacturer Ashok Leyland is aiming at a 35 per cent market share during the current fiscal.
The company, however, said that commercial vehicle makers are under profitability pressure due to increasing competition and cost of meeting stronger emission standards.
“With this acquisition the company intends to expand into manufacturing of hydraulic attachments for construction and agriculture industry,” said a company statement.
With an ambition to be the market leader in North India, Ashok Leyland’s iEGR technology will further help the company to gain significant ground. This expo is the largest by any OEM in this part of the country and highlights the company’s focus for this transport and logistics hub.
Tamil Nadu government today conducted trial runs of electric buses, supplied by heavy commercial vehicle manufacturer Ashok Leyland, as part of modernisation of transportation services.
Analysts are observing more caution in predicting single-digit volume growth for the year.
The revenue is in line with our estimate of Rs6,725 crore. The Operating Profit Margin (OPM) contracted by 210BPS YoY to 11% (as against our estimate of 12%), owing to commodity inflation, discounts to clear old BS-III inventory and an adverse product mix. Consequently, the EBITDA contracted by 7% YoY to Rs730 crore as against our estimate of Rs806 crore.
Ashok Leyland has last year introduced the first 'Made in India' electric bus "Circuit." The bus is equipped with a minimum seating capacity of 35 to a maximum of 65.
The total MHCV industry volume for FY 2016-17 was 3,02,529 units as against 3,02,397 units in the same period last year, the market has remained flat. However, Ashok Leyland volumes has shown a growth of 4%; 1,02,313 for FY 2016-17 as against 98,809 for FY 2015-16, resulting in an increase in market share of 1.1%.
India’s exports of medium and heavy-duty trucks rose 25% in FY17 to 43,719 units, helping manufacturers offset the revenue impact of tepid sales growth at home.
Many shops in metros such as Mumbai, Delhi and Bengaluru ran out of stocks while one Hero dealer in Mumbai had to call in cops to manage the crowds.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Sanjay Khatau Asher | 00008221 | sanjay.asher@crawfordbayley.com | Director | 21 Dec,2010 |
| Balaji Rao Jagannathrao Doveton | 00025254 | Director | 27 Mar,2002 | |
| Dheeraj Gopichand Hinduja | 00133410 | dgh@hindujagroup.com | Director | 03 Sep,1996 |
| Vinod Kumar Dasari | 00345657 | vinod.dasari@ashokleyland.com | Director | 01 Apr,2014 |
| Manisha Girotra | 00774574 | Manisha.Girotra@moelis.com | Director | 08 Sep,2014 |
| Sudhindar Krishan Khanna | 01529178 | sid@iepfund.com | Director | 12 May,2015 |
| Andrew Charles Palmer | 02155231 | andrewpalmer@mail.nissan.co.jp | Additional director | 04 Nov,2015 |
| Jean Brunol | 03044965 | brunoljean@orange.fr | Director | 20 Oct,2010 |
| Dr Andreas Hubertus Biagosch | 06570499 | biagosch@impacting1.com | Director | 10 May,2013 |
| Jose Maria Alapont Alapont | 07712699 | alapontjm@gmail.com | Director | 25 Jan,2017 |
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