Ashok Leyland Ltd: History, Company Profile, Awards
With Moto Big ON Comfort ‘,’ Big on Performance’ ‘Big on Savings’, Ashok Leyland Ltd. is headquartered in Chennai, Tamilnadu, India. The current chairman of the company is Mr. Dheeraj J.Hinduja. It is the second-largest commercial vehicle manufacturer company in India. In countries like India, for a better pollution-free environment, Ashok Leyland has brought up a new Technology called IEGR in April 2017 for engines up to 400HP. This future-ready technology was first launched to achieve the BS-IV emission norms and is now also used with ‘BS-VI vehicles. The company is also the first to introduce full-air brakes and power steering trucks in India. The company also manufactured the first double-decker bus in India. Ashok Leyland also manufactures spare parts and engines for many other industries as well as marine objectives.
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Ashok Leyland has been noted as the 3rd largest manufacturer of buses and the world’s 10th largest truck manufacturer.
It is one of the largest private sector companies in India. As of January 2021, Its gross profit is 1489.15(in cr.). Its authorized share capital is 35,920,998,000 and its paid capital is Rs.2,935,527,170. It is also one of the largest private sector companies for employers in India.
Ashok Leyland’s success story was started 72 years ago, on September 7, 1948, just after Independence. Ashok Leyland Ltd. was first founded as Ashok Motors by Mr. Raghunandan Saran (A Punjabi freedom fighter). The Company is named after the Founder’s only son Ashok Saran. It was first set up in collaboration with ‘Austin Motor company.’ The idea of forming this company first came into Pandit Jawaharlal Nehru’s mind, and then he convinced Raghunandan Saran to become an automotive manufacturer.
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At first, Ashok Leyland was engaged in the distribution of hostile cars in collaboration with Austin Cars. After a few years, in 1950, Ashok Motors collaborated with ‘Leyland Motors’, and Ashok motors got the right to import, assemble and manufacture the trucks for 7 years. In 1954 it got approval from the government to manufacture commercial vehicles. In 1955, after the death of Raghunandan Saran, the merger took place, and from 1955 onwards ‘Ashok Motors’ was named ‘Ashok Leyland Motors’. In 1987, Ashok Leyland was brought up by a joint venture between Hinduja Group and Iveco, part of the Fiat Group. In 2007, the Hinduja Group also bought out Iveco’s shareholding in Ashok Leyland, and now the promoter’s shareholding is 51%. Now, Ashok Leyland is the flagship company of the Hinduja group.
The company has a manufacturing facility across Bhandara, Alwar (in Rajasthan), Pantnagar (in Uttarakhand), Encore (in Tamil Nadu), and also across the globe in many of the countries.
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They create world-class engines, bodies of vehicles, etc. In passenger transportation, it provides 10-to-74-seater vehicles. They also manufacture vehicles for defense, special applications, marine applications, and geneset.
Ashok Leyland has invested in some great ‘Light Commercial Vehicle’(LCV), a Superior Engine technology with greater efficiency in fuel, safety, delivery, and a better experience. The company has ‘AVTR’ (truly modular trucks), which helps Ashok Leyland Ltd. rise more. The company is also now set to invest Rs.400 Crore in the product and plant CAPEX in the LCVs business to add a big capacity of 25,000 units.
Its total income calculated as of September 2020 is 2858.45crores. Its market share is 32.1% (FY 2006). The current market cap is 35725.37 crore. Ashok Leyland gains by 2.15% at SENSEX rise. The company sold about 12,762 trucks in Dec 2020.
In 2001, the company received ‘ISO 14001’. In 2006, the company was awarded by ‘TS 16949’corporate certificate, ‘TS 16949’ is the highest Super Technical certification’. It is the only Indian Company to receive this prestigious honour. They are the first manufacturer of trucks and buses outside of Japan to win the ‘Deming Prize’ for the Pantnagar plant in 2006. The Company in 2019 was awarded as the ‘AON Best Employer of India.
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It is a matter of great esteem that Ashok Leyland has been awarded the ‘Golden Peacock Award for Sustainability’ for 2018.
Some More To Know –
The company also has a good dividend track report and has been consistently declared as a dividend (distribution of some of the company’s earnings to a class of its shareholders continually) for the last few 5 years. The company attempts to manufacture automobiles that are less-pollutive, consume less, and work on eco-sensitive manufacturing systems, energy conservation measures, and wide-awake taking green initiatives through CSR (Corporate Social Responsibility).
Ashok Leyland Ltd. is one of the most trusted brands in the commercial sector vehicles market and is popular for its heavy-duty and reliable trucks. Over the years, the company has successfully gained many happy customers’ trust by delivering the promise of ’Aapki Jeet’ ‘Hamari Jeet.’
Image Source: “youtube.com – Uploaded by: Ashok Leyland”