The leading Indian manufacturer of Medium and Heavy Commercial Vehicles (M&HCV) Ashok Leyland Limited (ALL) was

formed in 1948 as Ashok Motors Limited (AML). The company initially assembled cars and manufactured diesel engines and vehicle chassis at its Ennore plant in the state of Tamilnadu. In 1950, AML entered into an agreement with British Leyland1 for assembling Leyland commercial vehicles through Land Rover Leyland International Holdings Limited (LRIHL). In 1954, British Leyland bought equity in AML. Subsequently AML's name was changed to Ashok Leyland Limited. From the same year, the company started using Leyland designs for its products. In 1966, ALL became the first company to introduce full air brakes in the country. The following year, it became the first company to introduce double-decker buses on Indian roads. Over the next few years, ALL went on to establish itself as a strong player in the Indian M&HCV markets. In 1980, ALL established a plant at Hosur (Tamilnadu) for manufacturing engines and assembling heavy duty and special vehicles. In 1982, another manufacturing plant was set up at Alwar (Rajasthan) for assembling a wide range of vehicles with an emphasis on passenger chassis. In 1987, a joint venture between the Hinduja Group2 and IVECO Fiat SpA3 bought a controlling interest in LRIHL and consequently in ALL as well. In 1990, ALL acquired its Hyderabad-based (Andhra Pradesh) supplier of iron castings, Ductron Castings Ltd.4 During 1993-94, ALL received the ISO 9002 and ISO 9001 certifications. The company established its second plant at Hosur in 1994 for assembling of cargo vehicles. It also established a plant at Bhandara (Maharashtra) for manufacturing components such as gearboxes and axles. ALL employed around 14,000 people at its six manufacturing plants.

The company's product range included buses, trucks, cargo, engines, defense and fire fighting vehicles (under the special vehicles category). It was one of the largest suppliers for India's state transport corporations. Reportedly six out of

every 10 state transport corporation buses were manufactured by ALL (Refer Exhibit I for ALL's product profile). To mitigate the negative effects of the recession in the Indian CV industry during 1997-99, ALL implemented various cost cutting measures including manufacturing practices such as JustIn-Time (JIT). To reduce inventory carrying costs, the company entered into agreements with its suppliers to get parts from them on a daily basis. It also improved its communication systems to facilitate the smooth implementation of JIT. ALL began to work on a three-month rolling plan, which was intimated to the suppliers to facilitate timely planning of production cycles. In 1998, company implemented 'Improve 98,' an exercise that involved employees in the generation of new ideas for process improvements. ALL claimed to have saved lakhs of rupees as a result of this exercise. It also focused on its warehousing practices to reduce inventory of spares and finished products. Besides ALL, the M&HCV segment in India had only one major player, the Tata owned TELCO. The MNC Volvo was only a small player. Unlike TELCO, which diversified into the passenger car segment, ALL and Volvo focused only on the CV segment of the automobile market. In 2000, ALL's overall market share was 33%, with around 98.7% of its sales volume being accounted for by M&HCVs. Over the years, ALL became one of the largest manufacturers in India's CV segment through a number of technological innovations (Refer Exhibit II for ALL's financials).

The Ashok Leyland Limited's SWOT, Strategy and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings, key financials and corporate actions, providing a 360 view of the company.

Scope: - Provides detailed information on Ashok Leyland Limited required for business and competitor intelligence needs - Contains a study of the major internal and external factors affecting Ashok Leyland Limited in the form of a SWOT analysis - Offers an in-depth view of the business model of Ashok Leyland Limited including a breakdown and examination of key business segments - Contains key financial information and revenue analysis of Ashok Leyland Limited - Provides intelligence on Ashok Leyland Limited's mergers and acquisitions (M&A), strategic partnerships and alliances, capital raising, private equity transactions, and financial and legal advisors - Captures the latest news about Ashok Leyland Limited, such as business expansion, restructuring, and contract wins - Includes large number of easy-to-grasp charts and graphs that present important data and key trends Highlights: This report includes Ashok Leyland Limited's business description, segment overview, company history, products and services, SWOT analysis, management statement, key executives and biographies, key competitors, locations and subsidiaries, contact information, latest news, and corporate activity including M&A, private equity, venture financing, public offerings, private placements and partnerships, and a list of legal and financial advisors. Reasons to Purchase: - Gain understanding of the company and the factors that influence its strategies - Track strategic initiatives of the company and latest corporate news and actions - Assess prospective partners, vendors and suppliers - Support sales activities by understanding your customers' businesses better - Stay up to date on your competitors' business structure, strategy and prospects

Hindujas flagship Ashok Leyland has bagged an order for 600 vehicles from VRL Logistics of Hubli. The order comprises 500 multi-axle vehicle (MAV 3123 model) in the 8x2 configuration, a newly-developed, first of its kind for the Indian commercial vehicle industry along with 100 of the companys 12-metre buses. The order is cumulatively worth Rs 125 crore, said Ashok Leyland managing director R Seshasayee here on Monday.

Seshasayee said the MAV 3123 is unique for it is the first time that a CRS engine is being offered on a vehicle platform in India. It is the only 31-tonner in the country with a 230 HP engine and its 30.5 feet load span makes it ideal to meet VRLs requirements for weight and volume combination, he explained. On the possibilities of Ashok Leyland setting up a man-ufacturing unit in Karnataka, he said the company had been encouraging ancillary industries but power supply was a major constraint for setting up manufacturing unit in the state. Chairman of VRL Logistics and MLC Vijay Sankeshwar said his company, which started as a single truck company, now has 2,691 vehicles, a 12,000 plus strong team and operations spread across 911 branches covering 2,629 locations. Seshasayee earlier inaugurated the new facility of Bellad Ashok Leyland in Hubli.

Speaking to reporters, he said, Our entire business strategy revolves around a deeper understanding of customer requirements and pain points to develop transport solutions that best meet their needs. A case in point is the 3123 (8x2) MAV that we have collaboratively developed with VRL, customiSed to suit their specific load carrying requirements as Indias leading logistic company, he added.