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Ashok Leyland Ltd.

BSE: 500477 | NSE: ASHOKLEY |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE208A01029 | SECTOR: Auto - LCVs & HCVs

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Oct 04, 16:01
156.30 5.95 (3.96%)
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Oct 04, 15:59
156.30 6.00 (3.99%)
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Company History - Ashok Leyland
 - The Company was Incorporated on 7th September, at Chennai.  The
 Company Manufacture Comet chassis and Leyland `Tiger' and `Titan'
 chassis and Leyland diesel engines.
 - In July, 1,00,000 `B' Right Equity shares and in December, 1,00,000
 `A' and 1,00,000 `B' equity shares offered.  133571 `A' equity shares
 subscribed for out of 1948 issued and July 1951 right issue; 22159
 `B' shares subscribed for out of December 1951 rights issue.
 - Further 6321 `A' equity and 948 `B' equity shares of 1951 issue
 subscribed.  All converted into Rs 5 face value.
 - The name of the Company was changed from Ashok Motors Ltd., to
 Ashok Leyland Ltd. in July.  Ashok Leyland Motors Ltd., are the
 associates of the Company.
 - In June, 4 lakh shares allotted to Leyland motors.  In Nov. 11 lakh
 share issued at par 15,03,456 shares as rights in prop.  19:40 &
 5,96,544 shares to Leyland motors to maintain their holding at 40%.
 - 9,88,688 issued at par to public in August 1957.  11,312 shares
 reserved for allotment to Leyland motors to hold their level below
 - In May, 25 lakh right shares offered at par in prop. 5:8 of this
 Leyland Motors were eligible for 12.25 lakh shares.
 - In December 34.45 lakh equity shares issued at par. 6.63 lakh
 shares as rights in prop. 1:5 and 27.82 lakh shares to Leyland Motors
 to keep their holding between 60%.
 - In October 11.05 lakh shares issued out of which 6,62,777 shares
 offered at par to Leyland Motors to be allotted from time to time. 
 The balance offered as rights to other members in prop.  1:9.
 - In May, 44,18,984 shares issued at par of which 26,51,110 shares
 offered to Leyland Motors against plant and machinery supplied by
 them. The balance offered as rights to other members in prop. 2:5. 
 - 31,15,404 bonus shares issued in prop. 1:15.
 - 93,46,217 bonus shares issued in prop. 1:2.
 - In February, the Company made a public issue of 49,61,349 No. of
 equity shares of Rs 5 each at a premium of Rs 3 per share.
 - 4961349 shares issued (prem. Rs 3 per shares) 2,48,049 shares
 reserved and allotted on a firm basis to employees and business
 associates of the company and 47,13,300 shares for public
 subscription during February 1979.
 - In collaboration with Leyland Vehicles, Ltd., the Company embarked
 on a programme of manufacture of integral buses. The R&D division was
 also engaged in developing a new vehicle prime mover with turbocharged
 engine which in operation with a Tandem-Axle trailer, would enable a
 GTW of 26T.
 - The Company also developed a longer integral bus with larger
 seating capacity.  A technical collaboration agreement was entered
 into for the manufacture of synchromesh transmissions to the designs
 of Azhnradfabrik Friedrichschafen AG of West Germany.
 - Shares of Rs 5 each consolidated on 7.12.1981.
 - Prototypes of a 36' long integral bus and articulated bus for city
 applications were built.
 - The Company entered into an agreement for a joint venture in Sri
 Lanka for the assembly and progressive manufacture of Ashok-Leyland
 - ACL proposed to create facilities for body building and assembly of
 panels for front-end structures for truck and business in order to
 cater to the requirements.
 - The Company entered into a technical collaboration with Hino Motor,
 Ltd., Japan for their `W' series engines.
 - Land-Rover Leyland International Holdings, Ltd., ceased to be a
 holding company of the Company from 1st November.
 - During April-May, the Company offered the following convertible and
 non-convertible redeemable debentures, all of the face value of Rs 100
 each, for cash at par to the resident Indian equity shareholders on a
 rights basis for an aggregate nominal value of Rs 32.60 crores; (a)
 8,15,000 - 13.5% Series III-A secured convertible.  (b) 16,30,000 -
 13.5% Series III-B Secured Convertible.  (c) 8,15,000 - 15% Series
 III-C Secured non-convertible with options of cumulative and
 non-cumulative schemes for payment of interest.
 - The basis of offer was one block of debentures for every 10 equity
 shares and every shareholders holding less than 10 equity shares was
 entitled to receive a minimum of one block of debenture.  One block
 of debenture comprises the following:
 - One III-A Series debentures of Rs 100 each; Two III-B Series
 debentures of Rs 100 each and One III-C Series debentures of Rs. 100
 - The Company has an obligation to convert Rs 36 per debenture out of
 Rs 100 as follows: (a) In the case of III-A Series debentures, two
 equity shares of Rs 10 each at a premium of Rs 8 per share to be
 allotted on 1.11.1984.  (b) In the case of III-B Series debentures,
 two equity shares to Rs 10 each a premium of Rs 8 per share to be
 allotted on 1.1.1986.
 - DGTD registration for the manufacture of metal cutting and grinding
 machines at the Hosur and Alwar plants was obtained.
 - A prototype of a rear engine bus chasis according to the
 specifications laid down by special working group for use in State
 Transport Undertakings was acknowledged by the latter during the
 - The Company issued 10,00,000 - 13.5% secured non-convertible
 debentures - series IV, redeemable at 5% premium on 14th March,
 - The Intermediate vehicle with 4-cylinder HINO engine was introduced
 in the market under the brand name CHITAL.  A test track for endurance
 testing of vehicles was also commissioned.
 - The Company introduced Normal Control (bonnetted) vehicle.  With
 access to superior IVECO technology, the Company was evaluating
 various contemporary product options that were relevant to the
 requirements of Indian road transport industry.
 - During July-August, the Company, offered 26,04,233 - 12.5%
 convertible debentures (Series V) of Rs 150 each to Indian resident
 shareholders as Rights in the proportion 1 debenture : 5 equity
 shares held.  (all were taken up).  Additional 3,88,226 debentures
 were allotted to retain oversubscription. 
 - Another 1,30,212 - 12.5% debentures were also issued to employees
 of the Company (only 38,100 debentures were taken up).  The
 unsubscribed portion of 92,112 debentures was allowed to lapse.
 - Rs 70 of the face value of each debenture was compulsorily
 converted into two equity shares of Rs 10 each at a premium of Rs 25
 per share on 1.1.90.
 - Rs 80 of the face value of each debenture was to be redeemed at par
 in five equal annual instalments at the end of 5th, 6th, 7th, 8th and
 9th years from the date of allotment of debentures.
 - 60,61,118 shares allotted (prem. Rs 25 per share) on conversion of
 V series debs. on 1.1.90.  38,91,858 shares were allotted to NRIs
 (prem. Rs 25 per shae) to maintain their percentage of shareholding
 in the company.
 - A 25 tonnes three axled 6 x 6 articulated clump trunk was
 - Effective from 1st March, Ductron was merged with the Company.  As
 per the scheme of amalgamation, the shareholders of Ductron Castings
 were allotted without payment in cash, one equity share of Ashok
 Leyland, Ltd. for every 3 equity share held by them in the erstwhile
 Ductron Castings Ltd.  Accordingly 1,53,333 equity shares were
 - The Company offered 96,16,226 - 14% secured redeemable partly
 convertible debentures (Series VIII) of Rs 200 each aggregating Rs
 192.32 crores to the existing equity shareholders in the proportion
 of 1 debenture for every 2 equity shares held.
 - Another 4,80,812 - 14% partly convertible debenture of Rs 200 each
 were offered to the employees (including working directors) on
 equitable basis.  Additional 14,42,429 debentures to the equity
 shareholders and additional 72,121 debentures to the employees were
 allotted to retain oversubscription.
 - The non-convertible portion of Rs 100 of each debenture would be
 redeemed at par in three annual instalments of Rs 35, Rs 35 and Rs 30
 at the end of the 7th, 8th and 9th years respectively from the date of
 allotment of the debentures.
 - Simultaneously with the offer of 14% partly convertible debentures,
 the Company offered 128,78,436 equity shares of Rs 10 each at a
 premium of Rs 40 per share to non-resident shareholders in the
 proportion of 1:1, in order to maintain their existing percentage of
 shareholding in the Company.
 - Ductron Castings, Ltd., had become sick under the provisions of the
 Sick Industrial Companies (Sp. Provisions) Act 1985.
 - 116,11,585 No. of Equity shares allotted (prem. Rs 40 per share) on
 part conversion of VIII series debs. on 11.5.92.  Another 73,96,687
 shares allotted to NRIs on 11.5.92.
 - A 6 x 2 truck model was launched during the year.
 - With a view to increasing the shareholding of the collaborators
 LRLIH Ltd. to 51%, the Company allotted 171,00,000 No. of equity
 shares of Rs 10 each at a premium of Rs 40 per share on 29th
 - The Company issued 10,771,908 GDRs at an issue price of US $ 12.79
 per GDR for a total value of US $137.773 millions.  Each GDR
 represents 3 equity shares of Rs 10 each. 
 - 32,315,724 shares issued through GDRs.
 - The Company entered into a technical collaboration with Hino Motor,
 Ltd., Japan for ther `W' series engines.
 - As at 31st March, the Company held 14,26,854 No. of Equity shares
 of Rs 10 each of Ennore Foundries, Ltd.
 - As on 31st March, sums of Rs 174.65 crores and Rs 50.72 crores were
 outstanding against term loans from financial institutions and banks
 - Ashok Leyland has introduced The Panther, a low floor bus which has
 been indigenously designed to cater to the needs of the common masses
 and is based on the parameters set by the Central Institute of Road
 Transport and the Association of State Road Transport Undertakings.
 - Ashok Leyland Ltd., the commercial vehicles major, has entered into
 an agreement with the leading US-based management consultant, A T
 Kearney, to kick-start the process re-engineering work in the
 company's various production units.
 - Ashok Leyland Limited is developing a new range of low floor
 chassis in the passenger vehicle sector for more convenient urban
 - Ashok Leyland Ltd (ALL) is introducing its latest hi-tech product,
 Panther into the Delhi Transport Corporation's (DTC) fleet.
 - The ministry of defence's vehicle factory in Jabalpur has signed
 manufacturing agreements with Ashok Leyland and Tata Electric and
 Locomotives Company (Telco) recently.
 - The commercial vehicle industry suffered severely due to the
 unprecedented slow down of the Indian economy.
 - The company would enter into an alliance with dealers of tractor on
 a temporary basis.  The company was talking to tractor manufacturers
 including Mahindra & Mahindra, Eicher, TAFE, and Punjab Tractors in
 this connection.
 - Hinduja group flagship company Ashok Leyland recently signed a
 memorandum of understanding with the Punjab government to set up a
 driving training institute at Rajpura in Punjab.
 - The Company launched of two interactive Internet initiatives, one
 for domestic parts operations and the other for exports.
 - Ashok Leyland has announced a voluntary retirement scheme for its
 `unionised staff'.
 - The Company has will hive-off its engines division to a joint
 venture with Iveco, which is a subsidiary of Fiat of Italy.
 - ALIT Inc, a 100 per cent subsidiary of Ashok Leyland Information
 Technology Ltd, has signed a contract to provide software services to
 a top Fortune-listed company.
 - Ashok Leyland Ltd (ALL) and Maruti Udyog Ltd have been selcted for
 the IRTE National Award, in recognition of their efforts towards
 promoting the cause of road safety, traffic managemen and environment
 - Commercial vehicles manufacturers Ashok Leyland Ltd, Sundaram
 Industries Ltd.  and Irizar of Spain have formed a joint venture
 company - Irizar TVS Ltd for bus body building.  The JV company has
 been set up with a paid-up capital of Rs 75 lakhs with equal
 contribution from the three partners.
 - Ashok Leyland's Ennore unit has received ISO 14001 certification
 for its environment management system from Indian Registrar Quality
 - The Company has crossed its first milestone in setting up an
 environmental management system with its Ennore plant obtaining the
 ISO-14001 certification from the Indian Register Quality Systems.
 - The hinduja group flagship Ashok Leyland has chosen Compaq as the
 most preferred vendor in building an end-to-end IT infrastructure 
 covering all operations of the company.
 - Ashok Leyland, a flagship company of Hinduja group, has withdrawn
 from the race for wresting control of oil marketing PSU IBP. 
 - Ashok Leyland Ltd (ALL), the second largest commercial vehicle
 manufacturer, has unveiled two more variants of its existing models -
 the self loading truck and the gullwing container - in a bid to boost
 its sales.
 - Ashok Leyland Ltd (ALL) has reported a 3 per cent increase in net
 sales to Rs 637.46 crore for the second quarter ended September
 - Ashok Leyland, which is half way through its borrowing programme
 for this year, proposes to raise Rs 100 crore by December. So far
 this year, the company has raised Rs 95 crore.
 - Ashok Leyland. According to corporate circles, about 15 companies
 have recognised the need for rewarding non-executive directors by way
 of commission.
 - Ashok Leyland Ltd has informed that Mr G Boschetti ceased to be a
 Director on our Board. Mr Marc Petit also ceased to be an Alternate
 Director to Mr G Boschetti.Mr R Sorce has been appointed as a
 Director in the place of Mr G Boschetti.
 -R Seshasayee reappointed as Managing Director of Ashok Leyland. 
 - Ashok Leyland forms an `automotive electronics group' within its
 Product Development Division, to explore technologies for developing
 Euro-3 and Euro-4 compliant engines.
 -Ashok Leyland Ltd has informed  that the Board  approved:1. Mr S R
 Krishnaswamy, Executive Director, LIC has been appointed as Nominee
 Director of LIC in the place of Mr P A Balasubramanian.2. Mr Matta
 Luigi of IVECO Spa, Italy has been appointed as an alternate Director
 to Mr R Sorce.
 -Ashok Leyland Ltd has informed that the following changes have 

 taken place in the composition of the BOD w.e.f. October 25, 2002: 1)
 Mr. R Sorce has 

 ceased to be Director of the company. 2) Mr. Marco Bianchi has been
 appointed as a 

 Director. 3) Mr. Matta Luigi who was hitherto Alternate Director to
 Mr. R Sorce has been 

 appointed as Alternate Director to Mr. Marco Bianchi. 4) Mr. B D
 Punjabi who was hitherto 

 Alternate Director to Mr. A K Das has been appointed as Alternate
 Director to Mr. F 

 Sahami. 5) Mr. I N Chatterjee has been appointed as an Alternate
 Director to Mr. A K Das.
 -Leyland has reported a 70% increase in its sales.
 -Ashok Leyland set to increase 'Hino' engine platform through
 in-house product  development, to deliver higher horsepower in tune
 with improving road infrastructure.
 -Ashok Leyland Ltd has supplied 25 buses to Afghanistan Which is a
 part of  Indian Government's Assistance to the war-ravaged
 -Mr.Arun Pande has been appointed as Executive Director - Marketing.
 -Leyland bagged $46 million truck supply contract from the United
 -Ashok Leyland launhes fuel-efficient Hino H series engine
 -D G Hinduja has elected as Vice Chairman.
 -Arun Pande resigns from Ashok Leyland
 -Ashok Leyland unveils new range of buses and trucks in a bid
 -launches Ecomet, a light commercial vehicle, in the Andhra Pradesh
 -Ashok Leyland's Hosur unit bags CII's awards in safety, health and
 -Ashok Leyland Ltd (ALL) and Indian Oil Corporation (IOC) have joined
 hands to offer freight management services across the country
 -  Ashok Leyland Ltd signs a collaboration agreement with ZF of
 Germany for local manufacturing of ZF's 9-speed synchromesh gearbox.
 -Wipro Infotech has signed up with Ashok Leyland for strategic cost
 -Partners with IIT-B to train employees
 -ALL unveils Funbus for underprivileged kids
 - Ashok Leyland Limited chooses product suite of MatrixOne India,
 subsidiary of Scandent Solutions Corporation Ltd, to provide an
 end-to-end PLM (Product Lifecycle Management) solution for the
 -Ashok Leyland Ltd receives BS7799 certification for information
 security management system
 -Ashok Leyland rolls out 'H' series multi-axle vehicle
 -Gulf Oil, Ashok Leyland unveils co-branded oils
 -Ashok Leyland gets ISO/TS 16949 corporate certification
 - Ashok Leyland has unveiled its 20-ft extra loading vehicle Comet
 -Ashok Leyland forges alliance with French firm
 -Ashok Leyland, on June 22, has named Rajive Saharia as the new
 executive director-marketing of the company.
 - Ashok Leyland, Siemens VDO signs agreement to set up joint
 -Ashok Leyland Ltd has signed a Heads of Agreement with Nissan Motor
 Co. Ltd, Japan for development, manufacture and marketing of LCV
 -Ashok Leyland to introduce concept bus at Auto Expo
 -Ashok Leyland produces new CNG engine for buses
 -Ashok Leyland buys stake in group co in Germany
 -Ashok Leyland entered into a joint venture with John Deere
 -Registered Office of the Company has been shifted From 19, Rajaji
 Salai, Chennai 600 001 To 
 No.1, Sardar Patel Road ,Guindy,Chennai 600 032.
 -Ashok Leyland receives Rs 480-cr DTC order
 -Ashok Leyland to open four new outlets in Punjab
 - Ashok Leyland, the flagship company of Hinduja group, unveiled the
 country's first electric plug-in CNG hybrid bus, HYBUS, at the Delhi
 auto show.
 -Ashok Leyland to invest Rs 200 cr in product development
 -Ashok Leyland to supply 700 Cluster CNG buses to Delhi
 -Ashok Leyland forays in small commercial vehicle segment; launches
 “DOST” in JV with Nissan Motor.
 -Ashok Leyland has given the Bonus in the Ratio of 1:1
 -Ashok Leyland wins another order from Bangladesh for 88 AC buses
 -Ashok Leyland to supply 35 buses to North Bengal State Transport
 -Ashok Leyland supplies 100 Falcon buses to Ghana, Order worth USD
 7.6 million.
 - Ashley Services Limited (ASL) has become a wholly owned subsidiary
 of Ashok Leyland Ltd.       
 -Ashok Leyland bags contract for about 2,610 buses for an undisclosed
 amount from the Institute of Road Transport (IRT), Tamil Nadu which is
 a nodal organisation that obtains buses for all state transport
 -Ashok Leyland opens 3 dealer outlets in a day to significantly
 expand network presence in Gujarat.
 - Ashok Leyland inaugurated Ashok Leylands new Driver Training
 Institute (DTI) at Chhindwara.
 -Ashok Leyland launches Luxura Magical India Bus, in support of
 Charter for Charity.
 -Ashok Leyland, flagship of the Hinduja Group, launched two new Light
 Commercial Vehicles (LCV) - PARTNER truck, Indias first
 air-conditioned LCV goods vehicle and MiTR bus.
 -Ashok Leyland Ltd., flagship of the Hinduja Group, launched JanBus
 - the worlds first, fully-flat floor, front-engine bus with
 single-step entry and air suspension in Kolkata.
 -Company has bagged a contract from the Ministry of Tourism &
 Hospitality Industry, Government of Zimbabwe for supply of 670
 vehicles valued at approx. USD 50 million. 
 -Ashok Leyland receives an order for 2,200 buses from the Government
 of Sri Lanka.
 -Ashok Leyland bags major projects from Africa worth USD 79.2 mn.
 -Ashok Leyland sign a MoU with Bank of Maharashtra for vehicle
 -Ashok Leyland has tied up with Lakshmi Vilas Bank to provide finance
 to its commercial vehicle buyers
 -Ashok Leyland wins order for buses worth 82 mn USD from Senegal
 -Ashok Leyland wins contract for 3600 vehicles worth $200Mn from Cote
 -Ashok Leyland inaugurated a new dealership M/s. Makroo Motor Company
 in Srinagar
 -Ashok Leyland signed a Memorandum of Understanding (MoU) with The
 South Indian Bank 
 -Ashok Leyland opens a new dealership in Hosapete, Karnataka
 -Ashok Leyland opens a new dealership in Mangaluru, Karnataka
 -Ashok Leyland inaugurates a state-of-the-art workshop in Riyadh
 -Ashok Leyland wins defence contract worth Rs 800 cr
 -Ashok Leyland bags order for supplying 3,600 buses
 -Ashok Leyland gets board nod for merger of Hinduja Foundries ltd
 -Ashok Leyland launches 'Circuit' Series-first Electric Bus Made in
 -Ashok Leyland receives prestigious Deming prize
 -Ashok Leyland acquires LCV business from Nissan Motor Corporation
 -Ashok Leyland launches its next generation school bus - SUNSHINE -
 in Vijayawada.
 -Ashok Leyland bags an order worth Rs. 70.35 Cr.
 -Ashok Leyland to revolutionise the trucking industry with the launch
 of 'GURU' and the Next Generation 'PARTNER'.
 -Ashok Leyland bags order for 3019 Buses from KSRTC.
 -Ashok Leyland''s iEGR technology attracts INR 120 Cr Order from
 -Ashok Leyland Defence Systems signs MoU on cooperation with
 Russia''s Rosoboronexport and ELCOM.
 - Ashok Leyland partners with Phinergy to work on electric CVs
 - Ashok Leyland bags order from Ministry of Defence
 - Ashok Leyland, HPCL launch co-branded fuel card
 - Ashok Leyland bags order for supplying 147 buses to Burkina Faso
 - Ashok Leyland extends its Road to School program to another 102
 - Ashok Leyland expands its Network through a New Service Facility of
 - Ashok Leyland partners with Axis Bank
 - Ashok Leyland partners with ICICI Bank
 - Ashok Leyland bags order for 1750 Buses from Tamil Nadu State
 Transport Undertakings
 - Ashok Leyland bags order from GSRTC to supply 1,290 buses
 - Ashok Leyland corporate office gets LEED certification
 - Ashok Leyland Developing new modular platform for future medium,
 heavy products from next year
 - Ashok Leyland subsidiary Optare recognised as OEM of the year at
 EVIEs Awards 
 - Ashok Leyland expands LCV portfolio with the launch of 'BADA DOST'
 - Ashok Leyland partners ABB Power Products for electric bus
 - Ashok Leyland launches BOSS LE and LX Trucks
 - Ashok Leyland Unveils Smart Transport Solutions in Oman Launches
 Falcon Super & Gazl
 - Ashok Leyland launches AVTR 4120 - Indias first 4-axle Truck with
 40.5 ton Gross Vehicle Weight
 - Ashok Leyland Delivers Light Bullet Proof Vehicles to Indian Air
 Force in collaboration with Lockheed Martin
 - Ashok Leyland launches its all new ecomet STAR in the ICV Category
 - Ashok Leyland launches Ultra Low Floor CNG BS VI Buses Delivers
 first batch to IndiGo