Commercial vehicle manufacturer Ashok Leyland on Friday announced the appointment of KM Balaji as Chief Financial Officer (CFO). Gopal Mahadevan, currently CFO and Whole Time Director, will continue to be associated with Ashok Leyland as Director of Strategic Finance and M&A.
Balaji K M, currently Deputy CFO, will take over the role of Chief Financial Officer with effect from June 1, 2024. He has held a distinguished career with Ashok Leyland spanning 31 years where he has gained considerable experience in handling and managing different facets of the Finance function such as MIS, Budgeting, Product Cost Engineering, Indirect Taxes, Treasury, Investor Relations, Payables and Receivables, the company said in a statement.
Mahadevan, as Director of Strategic Finance and M&A will continue to serve on the Board of Directors of Ashok Leyland and its subsidiaries. In his new role, he will focus on the growth agenda of Ashok Leyland’s subsidiary companies as well as M&A strategies of Ashok Leyland.
Ashok Leyland Limited's (ALL) net profit jumped 16.73 percent to Rs 933.69 crore during the fourth quarter of financial year 2023-24 due to strong demand for its products, both in the light and medium commercial vehicle (L&MCV) segments. The Chennai-based automaker’s profit after tax (PAT) during Q4FY23 stood at Rs 800 crore.
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