Ashok Leyland Limited (Initial Coverage) - Fundamental Company Report Including Financial , Business, Recent Development, Industry Overview, Competitors and Key Risk Analysis
Ashok Leyland is the flagship company of Hinduja Group. It has started commercial production in 1955. Today the company is a leading manufacturer of commercial vehicle and related components. The products of the company ranges from 18 to 82 seater double ducker buses and 4.9 tons to 49 tons in haulage vehicles. The company is a leader in Indian bus market. ALL offers different types of buses like CNG, double-ducker etc to its customers. More than 80% of the State Transport Undertaking buses come from ALL. It is also a large provider of logistic vehicle to Indian Army. Apart from this, the company also manufactures diesel engines for industrial, marine and genset applications.
The associate companies of ALL are (i) Automotive Coaches & Components Ltd, (ii) Lanka Ashok Leyland, (iii) Hinduja Foundries, (iv) IRIZAR-TVS and (v) Ashok Leyland Project Services Limited.
The company has seven manufacturing plants in India. The mother plant is located in Ennore, near Chennai (Tamil Nadu). ALL has three plants in Hosur, assembly plants in Alwar and Bhandara and a state-of-art facility at Pantnagar.
The Company's joint ventures include Ashok Leyland Nissan Vehicles Limited, Nissan Ashok Leyland Powertrain Limited, Nissan Ashok Leyland Technologies Limited, Ashok Leyland John Deere Construction Equipment Company Private Limited, Ashley Alteams India Limited and Automotive Infotronics Private Limited.
Automobile Industry is one of the key drivers of the national economy as it provides large-scale employment, having a strong multiplier effect. During 2009-10, Indian automobile industry has witnessed a buoyant growth in almost all the segments. In FY10, passenger vehicle segment grew 25.57% and car sales rose 25.10%. Sales of utility vehicles and multi purpose vehicles rose 20.88% and 40.94% respectively in FY10.
The associate companies of ALL are (i) Automotive Coaches & Components Ltd, (ii) Lanka Ashok Leyland, (iii) Hinduja Foundries, (iv) IRIZAR-TVS and (v) Ashok Leyland Project Services Limited.
The company has seven manufacturing plants in India. The mother plant is located in Ennore, near Chennai (Tamil Nadu). ALL has three plants in Hosur, assembly plants in Alwar and Bhandara and a state-of-art facility at Pantnagar.
The Company's joint ventures include Ashok Leyland Nissan Vehicles Limited, Nissan Ashok Leyland Powertrain Limited, Nissan Ashok Leyland Technologies Limited, Ashok Leyland John Deere Construction Equipment Company Private Limited, Ashley Alteams India Limited and Automotive Infotronics Private Limited.
Automobile Industry is one of the key drivers of the national economy as it provides large-scale employment, having a strong multiplier effect. During 2009-10, Indian automobile industry has witnessed a buoyant growth in almost all the segments. In FY10, passenger vehicle segment grew 25.57% and car sales rose 25.10%. Sales of utility vehicles and multi purpose vehicles rose 20.88% and 40.94% respectively in FY10.
1. SYNOPSIS
2. FINANCIAL PERFORMANCE
3. RECENT DEVELOPMENTS
4. BUSINESS
5. INDUSTRIAL OVERVIEW
6. FINANCIALS
7. OUT LOOK & CONCLUSION/ VALUATION
8. PEER COMPARISON 9. KEY RISKS
2. FINANCIAL PERFORMANCE
3. RECENT DEVELOPMENTS
4. BUSINESS
5. INDUSTRIAL OVERVIEW
6. FINANCIALS
7. OUT LOOK & CONCLUSION/ VALUATION
8. PEER COMPARISON 9. KEY RISKS
