Ashok Leyland Limited, Indian flagship of the Hinduja Group, reported a revenue of Rs 3929 crore which was 48% lower than the same period last year (Rs 7621 crore). The Total Industry Volume had come down by 53%. PBT (before exceptional item) for the quarter was at Rs 84 crore (Rs 688 crore) and PAT was at Rs 39 crore (Rs 528 crore). EBITDA for the quarter was at 5.8%.

Revenue for the half year was at Rs 9613 crore (Rs 13884 crore). PBT (before exceptional item) for the
half year was at Rs 465 crore (Rs 1246 crore) and PAT was at Rs 269 crore (Rs 949 crore). EBITDA for
the half year was at 8.0%.

Dheeraj G Hinduja, Chairman, Ashok Leyland Limited said, “The industry has witnessed a 53% decline
in volumes. Volumes for Ashok Leyland also witnessed a significant drop in this quarter, despite this, we
have been able to achieve an EBITDA of 5.8%. Some of the cost management programs initiated early this
year have yielded benefits and are reflected in the results. We are very proud to be the first Indian commercial vehicle manufacturer to receive ARAI certification for our whole range of heavy duty BS VI vehicles. Along with the rollout of the BS VI vehicles, we will also be introducing our Modular Business Platform giving our customers the flexibility to choose vehicles as per their specific needs and enable a faster response from us.”

Gopal Mahadevan, Whole Time Director & Chief Financial Officer, Ashok Leyland Limited said, “We
commenced our productivity drive and cost reduction program well in advance. These initiatives have
gained momentum and have helped us achieve a sizeable reduction in costs. We are closely watching the
developments in the industry.”

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