Ashok Leyland Ltd
NSE: ASHOKLEY BSE: 500477
₹150.24
+5.24 (3.61%)
Sat, 24 Oct 2026, 06:41 pm
Market Cap (in Cr)86551.25
PE Ratio25.38
Dividend2.38
Producer Manufacturing
Trucks/Construction/Farm Machinery
24.5KAshok Leyland Ltd Company History
1948
- Incorporated on 7 September in Chennai.
- Began manufacturing Comet chassis, Leyland Tiger and Titan chassis, and Leyland diesel engines.
1951
- Offered 100,000 'B' equity shares in July and 100,000 'A' and 100,000 'B' shares in December.
1952
- Subscribed further 6,321 'A' and 948 'B' equity shares from 1951 issue; converted to Rs 5 face value.
1955
- Changed name from Ashok Motors Ltd. to Ashok Leyland Ltd.
1956
- Allotted shares to Leyland Motors and rights issue to maintain 40% holding.
1957
- Issued 9,88,688 shares to public; reserved for Leyland Motors.
1959
- Offered 25 lakh right shares.
1960
- Issued 34.45 lakh equity shares, including to Leyland Motors.
1963
- Issued 11.05 lakh shares, partly to Leyland Motors and rights to members.
1965
- Issued 44,18,984 shares, including to Leyland Motors for plant and machinery.
1975
- Issued 31,15,404 bonus shares in 1:15 ratio.
1978
- Issued 93,46,217 bonus shares in 1:2 ratio.
1979
- Made public issue of 49,61,349 equity shares at premium.
1980
- Entered collaboration with Leyland Vehicles for integral buses.
- Developed prime mover with turbocharged engine.
- Developed longer integral bus.
- Entered agreement for synchromesh transmissions with ZF Germany.
1981
- Consolidated shares of Rs 5 each.
1982
- Built prototypes of 36-ft integral bus and articulated bus.
1983
- Entered JV agreement in Sri Lanka for vehicle assembly.
- Proposed facilities for body building and truck structures.
- Entered technical collaboration with Hino for 'W' series engines.
- Land-Rover Leyland International Holdings ceased as holding company.
1984
- Offered convertible and non-convertible debentures aggregating Rs 32.60 crores to shareholders.
1986
- Obtained DGTD registration for metal cutting and grinding machines at Hosur and Alwar.
- Developed rear engine bus chassis prototype.
- Issued 10,00,000 13.5% secured non-convertible debentures Series IV.
1987
- Introduced 'CHITAL' intermediate vehicle with Hino engine.
- Commissioned test track for vehicle endurance testing.
1989
- Introduced Normal Control bonneted vehicle.
- Offered 26,04,233 12.5% convertible debentures Series V to shareholders; allotted 60,61,118 shares on conversion.
1990
- Developed 25-tonne 6x6 articulated dump truck.
- Merged Ductron Castings, allotting 1,53,333 shares to its shareholders.
1991
- Offered 96,16,226 14% partly convertible debentures Series VIII to shareholders.
- Offered 4,80,812 debentures to employees.
- Offered 128,78,436 equity shares to non-resident shareholders.
1992
- Allotted 116,11,585 equity shares on part conversion of Series VIII debentures.
- Allotted 73,96,687 shares to NRIs.
1993
- Launched 6x2 truck model.
- Allotted 17,100,000 equity shares to LRLIH at premium to increase holding to 51%.
1994
- Issued 10,771,908 GDRs worth US $137.773 million.
- Issued 32,315,724 shares through GDRs.
- Entered technical collaboration with Hino for 'W' series engines.
1998
- Held 1,426,854 equity shares in Ennore Foundries.
- Reported outstanding term loans of Rs 174.65 crore from institutions and Rs 50.72 crore from banks.
- Introduced 'Panther' low floor bus.
- Entered agreement with A T Kearney for process re-engineering.
- Developing low floor chassis for urban transport.
- Introduced Panther to DTC fleet.
- Signed manufacturing agreements with Jabalpur vehicle factory.
1999
- Planned alliance with tractor dealers.
- Signed MoU with Punjab government for driving training institute.
2000
- Launched interactive Internet initiatives for parts and exports.
- Announced voluntary retirement scheme for unionised staff.
- Planned hive-off of engines division to JV with Iveco.
- ALIT Inc signed software services contract with Fortune-listed company.
- Received IRTE National Award with Maruti Udyog.
2001
- Formed JV Irizar TVS with Sundaram Industries and Irizar for bus body building.
- Ennore unit received ISO 14001 certification.
- Selected Compaq for IT infrastructure.
- Launched self-loading truck and gullwing container variants.
- Announced Rs 100 crore borrowing plan.
2002
- R Seshasayee reappointed as Managing Director.
- Formed automotive electronics group for Euro-3/4 engines.
- Multiple director appointments and cessations including Marco Bianchi and Matta Luigi.
2003
- Reported 70% sales increase.
- Planned Hino engine platform expansion.
- Supplied 25 buses to Afghanistan.
- Appointed Arun Pande as executive director-marketing.
- Secured $46 million truck contract from UN.
- Launched fuel-efficient Hino H series engine.
- D G Hinduja elected Vice Chairman.
2004
- Arun Pande resigned.
- Unveiled new range of buses and trucks.
- Launched Ecomet LCV in Andhra Pradesh.
- Hosur unit received CII awards for safety, health, and environment.
- Partnered with IOC for freight management services.
- Signed collaboration with ZF Germany for 9-speed gearbox.
- Partnered with Wipro Infotech for cost reduction.
- Partnered with IIT-B for employee training.
- Unveiled Funbus for underprivileged kids.
- Selected MatrixOne for PLM solution.
- Received BS7799 certification for information security.
2005
- Rolled out 'H' series multi-axle vehicle.
- Unveiled co-branded oils with Gulf Oil.
2006
- Received ISO/TS 16949 corporate certification.
- Unveiled 20-ft Comet 1611 vehicle.
- Forged alliance with French firm.
2007
- Appointed Rajive Saharia as executive director-marketing.
- Signed JV agreement with Siemens VDO.
- Signed Heads of Agreement with Nissan for LCV products.
2008
- Planned concept bus at Auto Expo.
- Produced new CNG engine for buses.
- Acquired stake in group company in Germany.
- Entered joint venture with John Deere.
- Shifted registered office to No.1, Sardar Patel Road, Guindy, Chennai.
2009
- Received Rs 480 crore order from DTC.
- Planned four new outlets in Punjab.
2010
- Unveiled HYBUS, India's first electric plug-in CNG hybrid bus.
2011
- Announced Rs 200 crore investment in product development.
- Secured order for 700 Cluster CNG buses for Delhi.
- Launched 'DOST' small commercial vehicle in JV with Nissan.
- Issued 1:1 bonus shares.
2012
- Secured order for 88 AC buses from Bangladesh.
- Secured order for 35 buses from North Bengal State Transport Corporation.
- Supplied 100 'Falcon' buses to Ghana worth USD 7.6 million.
2013
- Ashley Services Limited became wholly owned subsidiary.
- Secured contract for 2,610 buses from Tamil Nadu IRT.
- Opened 3 dealer outlets in Gujarat.
- Inaugurated Driver Training Institute in Chhindwara.
- Launched 'Luxura Magical India' Bus for charity.
2014
- Launched PARTNER truck and MiTR bus.
- Launched 'JanBus' in Kolkata.
- Secured contract for 670 vehicles worth $50 million from Zimbabwe Ministry of Tourism.
- Received order for 2,200 buses from Sri Lanka government.
- Secured projects from Africa worth $79.2 million.
- Signed MoU with Bank of Maharashtra for vehicle financing.
2015
- Tied up with Lakshmi Vilas Bank for customer finance.
- Won bus order worth $82 million from Senegal.
- Won contract for 3,600 vehicles worth $200 million from Cote D'Ivoire.
- Inaugurated dealership M/s. Makroo Motor Company in Srinagar.
- Signed MoU with South Indian Bank.
- Opened dealership in Hosapete, Karnataka.
- Opened dealership in Mangaluru, Karnataka.
- Inaugurated workshop in Riyadh.
2016
- Won defence contract worth Rs 800 crore.
- Secured order for 3,600 buses.
- Received board approval for merger with Hinduja Foundries.
- Launched 'Circuit' series electric bus.
- Received Deming prize.
- Acquired LCV business from Nissan Motor Corporation.
- Launched next-generation school bus SUNSHINE in Vijayawada.
2017
- Secured order worth Rs 70.35 crore.
- Launched 'GURU' and next-generation 'PARTNER'.
- Secured order for 3,019 buses from KSRTC.
- iEGR technology secured Rs 120 crore order from Rivigo.
- Defence Systems signed MoU with Rosoboronexport and ELCOM.
2018
- Partnered with Phinergy for electric commercial vehicles.
- Secured order from Ministry of Defence.
- Launched co-branded fuel card with HPCL.
- Secured order for 147 buses from Burkina Faso.
- Extended 'Road to School' program to 102 additional schools.
- Expanded network with new service facility of IFAD AUTOS.
2019
- Partnered with Axis Bank.
- Partnered with ICICI Bank.
- Secured order for 1,750 buses from Tamil Nadu State Transport Undertakings.
- Secured order for 1,290 buses from GSRTC.
- Corporate office received LEED certification.
- Began developing new modular platform for medium and heavy products.
2020
- Subsidiary Optare named OEM of the year at EVIEs Awards.
- Launched 'BADA DOST' to expand LCV portfolio.
- Partnered with ABB Power Products for electric bus development.
- Launched BOSS LE and LX Trucks.
2021
- Unveiled Smart Transport Solutions in Oman and launched Falcon Super & Gazl.
- Launched AVTR 4120, India's first 4-axle 40.5 ton GVW truck.
- Delivered Light Bullet Proof Vehicles to Indian Air Force with Lockheed Martin.
- Launched ecomet STAR in ICV category.
- Launched Ultra Low Floor CNG BS VI buses and delivered first batch to IndiGo.
2022
- Launched AVTR 4825 10x2 Tipper with tandem dummy axle.
- Opened 4 dealerships in Karnataka.
- Launched India's first 9-speed AMT Tipper AVTR 2825.
- Inaugurated dealership Ahuja Automobile in Korba.
- Expanded presence in Southern Africa.
- Announced financing tie-up in Kenya with Kenya Commercial Bank.
2023
- Unveiled 'AL-H6 Engine - CEV Stage V' and other products at EXCON 2023.
- Announced Rs 1,200 crore investment in Switch Infusion for expansion.
- Launched CNG truck in 18.5 tonne segment.
- Secured defence orders worth Rs 800 crore.
- Entered strategic partnership with Cholamandalam for dealer financing.
2024
- Inaugurated new LCV dealership in Madhya Pradesh.
- Opened new LCV dealership in Siliguri, West Bengal.
- Partnered with Madhya Pradesh Gramin Bank for vehicle finance.
- Inaugurated 'Uptime Solution Center' at Ennore.
- Received order for 2,104 fully built buses from Maharashtra State Road Transport Corporation.
- Introduced 'Sarathi Suraksha Policy' for drivers.
