Entered FY24 With A Strong Momentum

In an Upfront Conversation session, Shenu Agarwal, Managing Director and Chief Executive Officer, Ashok Leyland spoke to Ashish Bhatia on entering the new fiscal year with a strong momentum.

- Ashish Bhatia

Q. The fiscal year has changed. In hindsight, how was FY23 For Ashok Leyland?

A. FY23 has been a remarkable year for us in every which way. If you look at our market share, we have been able to increase the M&HCV market share by over five per cent. Even in our other business segments, whether it is L&ICV or the Defence segment, we have done well. So, overall, it has been a very wholesome performance not just in product segments or business units, but even geographically. In the north and east, we have been traditionally weaker than in the south and west, despite that in the north and east, we have been able to increase our market penetration very well in FY23. Another focus area for us has been profitability. We started our mission on cost last year and have created some wonderful results even in cost compression. Overall, you have seen up to the third quarter (Q3-FY23), our profitability has improved quite a lot. We hope to continue that momentum in order as well as going forward. The performance has been wholesome as an organisation and the year was one of the best in the last few years.

Q. If you could further break down the performance from a supply and demand standpoint?