Ashok Leyland Wins Rs 7 Billion Defence Contracts
DEFENSE

Ashok Leyland Wins Rs 7 Billion Defence Contracts

Ashok Leyland, the flagship company of the Hinduja Group, has recently secured defence contracts worth over Rs 7 billion, further strengthening its position in the defence mobility sector. These contracts are aimed at enhancing troop transportation, logistics, and specialized mobility needs under the Close-in Weapon Systems (CIWS) programme.

The newly awarded contracts encompass a range of vehicles, including the Stallion 4×4, Stallion 6×6, Short Chassis Bus, and Mobility System Travelling Platform. The defence business remains a crucial component of Ashok Leyland’s long-term expansion strategy, with the company committed to providing advanced mobility solutions for the Indian Armed Forces and paramilitary units.

In addition to its current projects, Ashok Leyland has developed a robust pipeline of defence orders across multiple segments and is actively participating in upcoming tenders. These efforts are expected to further strengthen its footprint in the defence sector.

Meanwhile, an exchange filing by the company’s promoters revealed that approximately 30% of their stake in Ashok Leyland is pledged. At the company's current market capitalisation, this pledged stake is valued at over Rs 64 billion. As of December 31, 2024, Hinduja Automotive held a 35 per cent share in Ashok Leyland.

Separately, the company has decided to shut down the manufacturing and assembly unit of its EV arm, Switch Mobility, in the UK. The decision is attributed to economic uncertainties and the slower-than-anticipated adoption of electric vehicles in public transport across the UK and Europe. Market challenges and a strategic realignment have led to this closure, as the company adapts its approach to the evolving industry landscape.

News source: Indian Infoline

Ashok Leyland, the flagship company of the Hinduja Group, has recently secured defence contracts worth over Rs 7 billion, further strengthening its position in the defence mobility sector. These contracts are aimed at enhancing troop transportation, logistics, and specialized mobility needs under the Close-in Weapon Systems (CIWS) programme. The newly awarded contracts encompass a range of vehicles, including the Stallion 4×4, Stallion 6×6, Short Chassis Bus, and Mobility System Travelling Platform. The defence business remains a crucial component of Ashok Leyland’s long-term expansion strategy, with the company committed to providing advanced mobility solutions for the Indian Armed Forces and paramilitary units. In addition to its current projects, Ashok Leyland has developed a robust pipeline of defence orders across multiple segments and is actively participating in upcoming tenders. These efforts are expected to further strengthen its footprint in the defence sector. Meanwhile, an exchange filing by the company’s promoters revealed that approximately 30% of their stake in Ashok Leyland is pledged. At the company's current market capitalisation, this pledged stake is valued at over Rs 64 billion. As of December 31, 2024, Hinduja Automotive held a 35 per cent share in Ashok Leyland. Separately, the company has decided to shut down the manufacturing and assembly unit of its EV arm, Switch Mobility, in the UK. The decision is attributed to economic uncertainties and the slower-than-anticipated adoption of electric vehicles in public transport across the UK and Europe. Market challenges and a strategic realignment have led to this closure, as the company adapts its approach to the evolving industry landscape. News source: Indian Infoline

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement