Ashok Leyland Bets on India Hub to Fire Global Ambitions

Hinduja says company in no hurry to make overseas acquisitions to establish itself globally

- Ayaan Kartik

Bus and truck maker Ashok Leyland says it doesn't need overseas acquisitions to establish itself globally, as the Chennai-based company concentrates on building India as its manufacturing hub for international markets.

According to Dheeraj Hinduja, chairman of the country's third-largest commercial vehicle maker, the company is not looking for acquisitions for the sake of acquiring companies, as it continues to await right opportunities in growing markets, amid announcements of mega deals by rivals Tata Motors Ltd and Mahindra and Mahindra Ltd.

Hinduja said that Leyland is currently focused on high-growth markets like India, Asean and West Asia.

"Europe for a long time has been quite depressed. From our perspective, today where India stands in its capabilities, quality, and our vendor base, we have the potential to supply global markets from India," Hinduja said.

He added that the company will still not shy away from acquisition, if it helps access new technologies or markets.

"But primarily, India has an edge over other markets," Hinduja said.

Ashok Leyland ended FY25 with a net cash surplus of ₹4,242 crore, and ₹3,284 crore of it was generated in the fourth quarter. The generation of such cash put the company in a position to target acquisitions, unlike in FY24 when it ended the year at ₹89 crore debt.