Ashok Leyland Ltd Company History

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.

1952-55

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 49%.

In May, 25 lakh right shares offered at par in prop. 5:8 of this Leyland Motors were eligible for 12.25 lakh shares.

1960-63

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 vehicles.

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 each.

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 year.

The Company issued 10,00,000 - 13.5% secured non-convertible debentures - series IV, redeemable at 5% premium on 14th March, 1993.

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 developed.

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 allotted.

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 September.

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 respectively.

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 transportation.

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 protection.

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 Systems.

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 2001.

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 Afghanistan.

Mr.Arun Pande has been appointed as Executive Director - Marketing.

Leyland bagged $46 million truck supply contract from the United Nations.

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 market

Ashok Leyland's Hosur unit bags CII's awards in safety, health and environment

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 reduction

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 company.

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 1611

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 venture.

Ashok Leyland Ltd has signed a Heads of Agreement with Nissan Motor Co. Ltd, Japan for development, manufacture and marketing of LCV products.

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 Corporation".

"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 corporations.

Ashok Leyland opens 3 dealer outlets in a day to significantly expand network presence in Gujarat.

Ashok Leyland inaugurated Ashok Leyland’s 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, India’s first air-conditioned LCV goods vehicle and MiTR bus.

Ashok Leyland Ltd., flagship of the Hinduja Group, launched ‘JanBus’ - the world’s ‘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 financing".

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 D'Ivoire

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 India

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 Rivigo".

"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 Schools

Ashok Leyland expands its Network through a New Service Facility of IFAD AUTOS

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 development

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 - India’s 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

Ashok Leyland launches AVTR 4825 10x2 Tipper with Tandem dummy axle.

Ashok Leyland strengthens its presence in Karnataka, opens 4 Dealerships in the state.

Ashok Leyland launches India’s first 9-speed AMT Tipper – AVTR 2825.

Ashok Leyland inaugurated a new dealership, Ahuja Automobile in Korba, the power capital of Chhattisgarh.

Ashok Leyland expands and strengthens its presence in Southern Africa.

Ashok Leyland announces financing tie up in Kenya for vehicle financing, as channel partner Deluxe Trucks and Buses inks agreement with Kenya Commercial Bank

Ashok Leyland unveils cutting-edge ''AL-H6 Engine - CEV Stage V'' along with other innovative products at EXCON 2023''.

Ashok Leyland to invest Rs.1200 cr into Switch Infusion to fund expansion of product portfolio, R&D & Operations.

Ashok Leyland expands product offering in CNG, launches truck in 18.5 tonne segment.

Ashok Leyland bags Defence orders worth Rs. 800 Cr.

Ashok Leyland entered into a strategic partnership with Cholamandalam Investment and Finance Company Ltd to offer financing to dealers.