Ashok Leyland

July 6 - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTODEALERS BODY FADA: JUNE OVERALL AUTO RETAIL SALES ROSE 21.83% Y/Y

• INDIA’S FADA: JUNE TWO-WHEELERS RETAIL SALES ROSE 21.22% Y/Y

• INDIA’S FADA: JUNE PASSENGER VEHICLE RETAIL SALES ROSE 28.63% Y/Y

• INDIA’S FADA: JUNE COMMERCIAL VEHICLE RETAIL SALES ROSE 16.88% Y/Y

Source text: [ID:]

Further company coverage: ASOK.NS

** Shares of India's Ashok Leyland ASOK.NS jump 4.78% to 164.81 rupees

** Stock is the top gainer Nifty Auto Index .NIFTYAUTO which is up 0.87% on the day

** Commercial vehicle maker's total vehicle sales, including exports, rise 25% y/y to 19,194 units in June

** Medium and heavy commercial vehicle truck sales jump 44% yoy, while light commercial vehicle sales increase 28%

** ASOK rated "buy" on average by 34 analysts, median PT at 180 rupees -- data compiled by LSEG

** YTD stock down 8% vs auto index's fall of 5.25%

(Reporting by Surbhi Misra in Bengaluru)

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By Aditi Shah

NEW DELHI, June 29 (Reuters) - India's capital New Delhi will offer a cash incentive of over$1,000 to car owners willing to scrap their old vehicle for an EV, according to a new policy finalised by the government on Monday in a move aimed at reducing high levels of air pollution.

New Delhi is one of the world's most polluted cities with air quality worsening in the winters when dense, stagnant air traps emissions from crops burning in neighbouring states, vehicle exhaust and construction dust.

Here are some details:

• The local government in New Delhi finalises new electric vehicle policy with an outlay of 150 billion rupees ($1.59 billion) over four years to incentivise buyers of electric two-wheelers, cars and small trucks, as well as setting up EV chargers.

• To offer $1,060 as scrapping incentive to those who trade in cars bought before April 1, 2020 for an EV.

• Those buying a battery EV priced at up to 3 million rupees will be exempt from paying road tax and registration fees, which typically amount to 4%-10% of the car's price.

• Buyers of electric scooters and motorbikes will get a cash incentive of 30,000 rupees in the policy's first year, reducing to 10,000 rupees by year three.

• Delhi government will only register electric two-wheelers from April 1, 2028, forcing buyers to move away from gasoline and other powertrains.

• Will also incentivise setting up 32,000 EV charging points across Delhi.

• Hybrid vehicles have not been included in the policy which is expected to come into effect from July 1.

• Policy will provide a big boost to EV players like Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS as well as electric two-wheeler makers TVS Motor TVSM.NS, Bajaj Auto BAJA.NS and Ather Energy.

(Reporting by Aditi Shah; Editing by Susan Fenton)

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June 15 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S MAY TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,38,854 UNITS

• SIAM - INDIA'S MAY 3-WHEELER SALES 70,720 UNITS

• SIAM - INDIA'S MAY 2-WHEELER SALES 19,02,209 UNITS

• SIAM - LOWER BASE EFFECT OF PREVIOUS MAY, DEMAND CREATED DUE TO REDUCED GST RATES GETTING REFLECTED IN HIGHER OFF-TAKE THIS MONTH

Further company coverage: ASOK.NS

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June 8 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTODEALERS BODY FADA: MAY OVERALL AUTO RETAIL SALES ROSE 9.55% Y/Y

• INDIA’S FADA:MAY PASSENGER VEHICLE RETAIL SALES ROSE 23.25% Y/Y

• INDIA’S FADA:MAY COMMERICAL VEHICLE RETAIL SALES ROSE 5.29% Y/Y

• INDIA’S FADA: MAY TWO-WHEELERS RETAIL SALES ROSE 7.54% Y/Y

Source text: [ID:]

Further company coverage: ASOK.NS

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June 1 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND - TOTAL VEHICLE SALES INCLUDING EXPORTS FOR MAY 2026 AT 14,923 UNITS

Source text: ID:nBSEbBnctC

Further company coverage: ASOK.NS

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** Ashok Leyland ASOK.NS shares fall 0.7% to 162.49 rupees after gaining in six of the previous seven sessions

** Q4 profit rises 12.8%; revenue from operations up 18.9% from a year earlier

** Declares dividend of 2.5 rupees/shr

** Ambit Capital says Q4 results were broadly in line, with margin performance helped by value engineering and tighter cost control despite persistent commodity pressure

** BOB Capital Research says commodity inflation and provisions weigh on cost structure

** Emkay Global says two-wheeler and commercial vehicle demand will be stronger than passenger vehicle demand because many owners are due to replace aging vehicles, creating a demand upcycle

** Jefferies says outlook is clouded by rising fuel prices, and potential impact of higher inflation and weak monsoon on economy

** YTD, stock down 8.7% vs 8.5% decline in Nifty 50 Index .NSEI

(Reporting by Abhinav Parmar in Bengaluru)

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May 28 (Reuters) - India's Ashok Leyland ASOK.NS reported its highest ever quarterly profit on Thursday, helped by strong demand for commercial vehicles.

• The Hinduja Group flagship reported standalone profit of 14.05 billion rupees ($146.8 million) in the three months ended March 31, up 13% from 12.46 billion rupees a year ago.

• Revenue from operations jumped about 19% to a record 141.6 billion rupees in the fourth quarter

• Auto sector demand, including for commercial vehicles, continued stayed strong on momentum from last year's tax cuts

• Analysts, however, warned of margin pressures due to increased input costs amid the ongoing U.S.-Iran war.

• Ashok Leyland's input costs soared 29%, driving up expenses by 19%

• "Our CV and export volumes were at an all-time high... the company delivered significant growth in power solutions, aftermarket and electric mobility businesses," Chairman Dheeraj Hinduja said.

• Earlier this month, rival Tata Motors TATM.NS flagged near-term cost pressures due to the ongoing war even as it reported a near 70% jump in fourth-quarter profit.

($1 = 95.6863 Indian rupees)

(Reporting by Devika Nair in Bengaluru; Editing by Joyjeet Das)

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May 25 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND - ANNOUNCES ORDER FOR 715 VEHICLES FROM VRL LOGISTICS

Source text: ID:nBSE2856y9

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May 22 (Reuters) - India's Ambuja Cements, Tube Investments Of India, Colgate Palmolive Dropped From Bse 100 Index .BSE100:

• INDIA'S ASHOK LEYLAND, PAYTM AND CG POWER AND INDUSTRIAL SOLUTIONS ADDED TO BSE 100 INDEX - BSE

• BSE

• BSE INDICES REJIG TO BE EFFECTIVE AT THE OPEN OF JUNE 22, 2026 - BSE

• BSE INDICES REJIG TO BE EFFECTIVE AT THE OPEN OF JUNE 22, 2026 - BSE

Source text: [ID:]

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May 19 (Reuters) - India is considering incentives exceeding $1 billion to spur private-sector adoption of electric buses and trucks, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Reuters could not immediately verify the report.

(Reporting by Carlos Méndez in Mexico City)

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May 18 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND - TO CONSIDER ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS

Source text: ID:nBSE8MRYZD

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May 14 -

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES UP 25.4% Y/Y -INDUSTRY BODY

• INDIA'S APRIL TOTAL DOMESTIC PASSENGER VEHICLE SALES AT 437,312 UNITS - INDUSTRY BODY

• INDIA'S APRIL TOTAL TWO-WHEELER SALES UP 28.4% Y/Y AT 18,72,691 UNITS - INDUSTRY BODY

• INDIA AUTO INDUSTRY BODY SIAM SAYS THOUGH THERE ARE CONCERNS OF HIGH COMMODITY PRICES DISRUPTIONS IN WEST ASIA, INDUSTRY WITNESSING GOOD DEMAND

Source text: [ID:]

May 5 (Reuters) - India's retail car sales rose in April, an auto dealers' body said on Tuesday, although the Middle East crisis and its impact on fuel prices could hurt demand going into the summer months.

• Passenger vehicle sales rose 12.2% year-on-year to 407,355 units, a record for April, helped by a boost from last September's rate cuts, easier financing conditions and strong demand from smaller towns and rural areas, the Federation of Automobile Dealers Associations said

• Overall vehicle retail sales climbed 12.9% to 2.6 million units, also an all-time high for April, with five out of six segments posting record volumes

• Dealers warned that uncertainty stemming from the Middle East could weigh on sentiment if higher crude prices spill over into fuel costs, and also flagged risk from heatwaves and supply constraints

• Indian state fuel ​retailers have raised prices of liquefied petroleum gas for industrial customers and jet fuel sold to ​foreign carriers, but there ​has been no increase in retail prices ‌of ⁠gasoline, gasoil, LPG or jet fuel for Indian carriers

• For April, rural car sales jumped 20.4%, nearly three times faster than urban growth of 7.1%, supported by a revival in small cars

• Inventory levels edged up to around 28 to 30 days, within what the association considers a "healthy range", though dealers urged manufacturers to go slow on dispatches as demand typically softens in May and June

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)

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April 14 (Reuters) - India's auto industry body on Tuesday flagged concerns on the possible adverse impact of the Middle East war on automotive production, input and fuel prices, and freight rates.

Here are some key details:

• The West Asia conflict is expected to pose short-term challenges for the auto industry, Shailesh Chandra, president of Society of Indian Automobile Manufacturers (SIAM), said.

• Uncertainties arising from the West Asia conflict, particularly prices of crude oil and commodities, higher exchange rates and disruptions in shipping routes, remain a concern for the auto sector, the industry body said.

• In the near term, the conflict may weigh on export volumes, and the evolving situation reinforces the need for calibrated supply chains and diversification of energy inputs, analysts at Antique Stock Broking said.

• In the entry-level segment in April so far, buyer enquiries are strong, but converting them to sales is taking longer, the SIAM president said.

• Car sales by manufacturers to dealers in the world's third-largest car market rose 7.9% to 4.6 million units in the financial year 2026, industry data showed, compared to the previous fiscal year's 2%, as consumer sentiment improved due to tax cuts.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Total domestic two-wheeler sales in the financial year 2026 rose 10.7% on-year compared to 9.1% growth last year, the industry data showed.

(Reporting by Aditi Shah and Anuran Sadhu; Editing by Harikrishnan Nair)

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** Shares of Ashok Leyland ASOK.NS fall 3.7% to 148.4 rupees, lowest since late-Nov

** ASOK one of two stocks to close in the red among Nifty Auto .NIFTYAUTO constituents; the index is up 1.9%

** Automobile maker sold 25,381 units in March 2026 vs 24,060 units a yr earlier

** Sales are, however, below estimates of Jefferies and Anand Rathi Research analysts

** Above 83.8 mln shares traded, over 4x the 30-day avg

** Stock rated "buy" on avg; median PT 202.5 rupees - data compiled by LSEG

** Stock down 16.6% YTD vs a 14% decline in Nifty Auto

(Reporting by Aleef Jahan in Bengaluru)

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By Aditi Shah

NEW DELHI, March 26 (Reuters) - India has asked automakers and parts suppliers to tighten production schedules to conserve fuel amid fears of shortages caused by disrupted oil and gas imports from the Gulf due to the Iran war, a government memo seen by Reuters shows.

The heavy industries ministry has also urged companies to shift factory operations from oil-based fuels to electricity and to use recycled aluminium or alternative materials as shortages and costs rise, according to the March 25 advisory.

For India, one of the world's largest oil and gas importers, the advisory underscores the government's mounting concern over the conflict and its disruption to energy flows, supply chains and availability of raw materials.

India's ministry of heavy industries did not immediately respond to a request for comment.

The government has already prioritised use of gas for households over industries, which get only about 80% of their average needs.

Some parts suppliers to India's leading carmakers like Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Mahindra MAHM.NS are already reporting a shortage of gas to power operations at a time when vehicle sales are booming.

The ministry wants the sector to do more.

"Wherever technically feasible, a transition from oil-based fuels to electricity may be considered. Further, production schedules may be optimised to minimise idle and standby fuel consumption," the ministry said in its note.

The government wants companies to use recycled aluminium where possible and explore the use of alternative materials for packaging and other non-critical applications to reduce "demand pressure" amid shortages which are already affecting beer makers.

"I don't know how much we can change in the factory, but the takeaway is that this war is going to go on for a long time and we should be prepared," said an executive at an Indian carmaker.

(Reporting by Aditi Shah, Editing by William Maclean)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

By Aditi Shah

NEW DELHI, March 26 (Reuters) - India has asked automakers and parts suppliers to tighten production schedules to conserve fuel amid fears of shortages caused by disrupted oil and gas imports from the Gulf due to the Iran war, a government memo seen by Reuters shows.

The heavy industries ministry has also urged companies to shift factory operations from oil-based fuels to electricity and to use recycled aluminium or alternative materials as shortages and costs rise, according to the March 25 advisory.

For India, one of the world's largest oil and gas importers, the advisory underscores the government's mounting concern over the conflict and its disruption to energy flows, supply chains and availability of raw materials.

India's ministry of heavy industries did not immediately respond to a request for comment.

The government has already prioritised use of gas for households over industries, which get only about 80% of their average needs.

Some parts suppliers to India's leading carmakers like Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Mahindra MAHM.NS are already reporting a shortage of gas to power operations at a time when vehicle sales are booming.

The ministry wants the sector to do more.

"Wherever technically feasible, a transition from oil-based fuels to electricity may be considered. Further, production schedules may be optimised to minimise idle and standby fuel consumption," the ministry said in its note.

The government wants companies to use recycled aluminium where possible and explore the use of alternative materials for packaging and other non-critical applications to reduce "demand pressure" amid shortages which are already affecting beer makers.

"I don't know how much we can change in the factory, but the takeaway is that this war is going to go on for a long time and we should be prepared," said an executive at an Indian carmaker.

(Reporting by Aditi Shah, Editing by William Maclean)

(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))

March 20 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND - APPROVES INVESTMENT UP TO GBP 30 MILLION IN OPTARE PLC UK SUBSIDIARY

Source text: ID:nBSE9SmW6L

Further company coverage: ASOK.NS

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March 13 (Reuters) - India's domestic car dispatches to dealers rose for the fifth straight month in February, data from an industry body showed on Friday, helped by tax cuts that have lowered prices across most models.

"While the month of March has festive drivers... the recent conflict in West Asia remains a concern... could impact the manufacturing processes and exports," Rajesh Menon, Director General of Society of Indian Automobile Manufacturers (SIAM), said.

Here are some key details:

• Passenger vehicle dispatches jumped 10.6% to 417,705 units in February, compared with 377,689 units a year earlier.

• Tax reductions continue to fuel growth, extending momentum for fifth consecutive month.

• In September 2025, India slashed taxes on larger SUVs to 40% as an additional levy was dropped and on small cars and two-wheelers to 18% from 28%, helping support demand across segments.

• Vehicle sales picked up during the ongoing wedding season, supported by strong bookings, inventory build-up and new model launches.

• Domestic demand is expected to remain strong, though exports could soften on reduced shipments to Africa and the Middle East, analysts added.

• SIAM warns the ongoing Middle East crisis could hit production and exports if supply chains are disrupted.

• A shortage of gas - crucial for paint shops and component manufacturing - may affect production, analysts said, though they expect only near-term impact on Indian manufacturers due to inventory buffers.

• Domestic demand to stay robust but exports could weaken due to reduced shipments to Africa and the Middle East- Axis Capital

• India, the world's third-biggest car market, has an auto industry that accounts for 7.1% of its GDP.

• Tax cut-driven growth is likely to sustain for several quarters, a dealer's body said last week.

(Reporting by Meenakshi Maidas and Urvi Dugar in Bengaluru)

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March 2 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• TOTAL M&HCV SALES INCREASE 31% TO 13,264 UNITS IN FEB 2026

• TOTAL VEHICLE SALES INCREASE 28% TO 20,314 UNITS IN FEB 2026

Source text: ID:nBSE6dK44d

Further company coverage: ASOK.NS

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Feb 19 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND- ASHOK LEYLAND WEST AFRICA SA, STEP-DOWN SUBSIDIARY OF THE COMPANY, HAS BEEN VOLUNTARILY LIQUIDATED

Source text: ID:nnAZN4SHDRQ

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Feb 13 (Reuters) -

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JAN TOTAL DOMESTIC PASSENGER VEHICLE SALES 4,49,616 UNITS

• SIAM - INDIA'S JAN 2-WHEELER SALES 19,25,603 UNITS

• SIAM - INDIA'S JAN 3-WHEELER SALES 75,725 UNITS

• SIAM: NEW BUDGET INITIATIVES, POLICY TAILWINDS EXPECTED TO DELIVER LONG-TERM BENEFITS, SUPPORT GROWTH IN MEDIUM TERM

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Feb 11 (Reuters) - Indian automaker Ashok Leyland ASOK.NS reported a smaller-than-expected rise in quarterly profit on Wednesday, as higher raw material costs outweighed the sales boost from a tax cut.

The company's profit rose 4.5% to 7.96 billion rupees ($87.8 million) in the October-December period, missing analysts' estimate of 9.42 billion rupees, as per data compiled by LSEG.

Shares fell 2.4% after the results.

Quarterly expenses rose 20.1%, led by a 19.2% uptick in raw material costs.

Ashok Leyland joined peers Eicher Motors EICH.NS, Maruti Suzuki India MRTI.NS and Hyundai Motor India HYUN.NS in reporting higher raw material costs as prices of precious metals as well as non-ferrous metals firmed up.

The truck maker's overall sales grew 24% in the quarter, helped by India lowering taxes on commercial vehicles to 18% from 28% in late September. Lower prices helped fleet operators replace older vehicles, analysts said.

Revenue grew 21.7% to 115.34 billion rupees, above Street expectations of 112.76 billion rupees.

($1 = 90.6520 Indian rupees)

(Reporting by Nandan Mandayam and Yagnoseni Das in Bengaluru; Editing by Janane Venkatraman and Mrigank Dhaniwala)

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** Citi Research raises volume estimates for Ashok Leyland ASOK.NS, driven by an industry-wide increase in demand for commercial vehicles

** ASOK shares up 3.2% to 187 rupees

** Citi hikes ASOK's price target to 205 rupees from 165 rupees; maintains "buy" rating

** While direct impact of price cuts post GST reductions would be relatively lower for commercial vehicles compared to passenger vehicles/2-wheelers, overall increase in goods demand could be a positive driver - Citi

** Stock rated "buy" on avg; median PT 165 rupees - data compiled by LSEG

** Stock up 62.5% in 2025 vs 23.5% gain in the Nifty Auto .NIFTYAUTO index

(Reporting by Aleef Jahan in Bengaluru)

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Jan 13 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,99,216 UNITS

• SIAM - LOOKING AHEAD, INDUSTRY EXPECTS POSITIVE MOMENTUM TO CONTINUE WELL INTO 2026

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 3-WHEELER SALES 61,924 UNITS

• INDIA AUTO INDUSTRY BODY SIAM - INDIA'S DEC DOMESTIC 2-WHEELER SALES 15,41,036 UNITS

• SIAM - WHILE REMAINING WATCHFUL OF GEOPOLITICAL DEVELOPMENTS, INDUSTRY EXPECTS FY2025–26 TO CLOSE ON POSITIVE GROWTH TRAJECTORY

Source text: [ID:]

Further company coverage: ASOK.NS

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** Shares of AVG Logistics AVGL.NS rise 4.8% to 183.51 rupees

** The logistics company has partnered with Nestlé India NEST.NS & Ashok Leyland ASOK.NS for a green supply chain initiative

** Co to deploy 50 CNG trucks to Nestlé India

** Stock fell 52.4% in 2025

(Reporting by Brijesh Patel in Bengaluru)

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Jan 1 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• DEC TOTAL VEHICLES SOLD AT 21,533 UNITS

Source text: ID:nBSE6T1Rm0

Further company coverage: ASOK.NS

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Nov 13 (Reuters) - ** Ashok Leyland ASOK.NS rises 4.5% to record high of 150.49 rupees

** Hinduja Group's flagship co posts flat Q2 profit; rev up 9.3% y/y

** Ambit ("buy"; PT: 153 rupees) says by increasing bus, LCV, exports, spares share, Ashok Leyland building resiliency against commercial vehicle cyclicality

** Nomura ("buy"; PT: 174 rupees) says co has potential for margins to keep expanding to mid-teens in two years

** Emkay ("buy"; PT: 160 rupees) co's FY26 exports up 35% YTD, seeing strong momentum led by traction across key export geographies

** More than 26 mln shares traded, 2.3x the 30-day avg

** Stock rated "buy" on avg; median PT is 151.50 rupees, per data compiled by LSEG

** ASOK up 35% YTD

(Reporting by Urvi Dugar in Bengaluru)

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Nov 12 (Reuters) - Ashok Leyland Ltd ASOK.NS:

• ASHOK LEYLAND Q2 PROFIT 7.71 BILLION RUPEES; IBES EST 7.45 BILLION RUPEES

• ASHOK LEYLAND Q2 REVENUE FROM OPERATIONS 95.88 BILLION RUPEES; IBES EST 95.87 BILLION RUPEES

Source text: [ID:]

Further company coverage: ASOK.NS

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