Ashok Leyland to launch passenger version of Dost this fiscal

Dost is a light commercial vehicle developed jointly by Ashok Leyland and its partner Nissan Motor Co.

Hinduja flagship company Ashok Leyland will launch the passenger carrier version of its small commercial vehicle 'Dost' in the current fiscal year.

"The new passenger version on the Dost platform, goods and passenger versions of the multi functional van 'Stile' and and the 6-tonne 'Partner' are slated to hit the Indian roads during this fiscal," Ashok Leyland Chairman Dheeraj G Hinduja said in his address to shareholders in the company's Annual Report 2012-2103.

He further said variants of Dost, including a CNG version, would be launched during the current fiscal.

"The Dost CNG will be introduced to the Delhi market shortly," he added.

Dost is a light commercial vehicle (LCV) developed jointly by Ashok Leyland and its partner Nissan Motor Co. through their equal joint venture. It was launched commercially in India in 2011.

Despite being launched only in 11 states, Dost is the second largest selling product in its segment, with a pan India market share of 18.5%, Hinduja said, adding exports of the vehicle have begun.

"Your company has also just started exporting Dost to SAARC countries. To support the sale and service of LCVs, your company has built a new LCV-oriented network of 100 touch points within 18 months," he said.

At present, Dost is manufactured at Ashok Leyland's plant at Hosur in Tamil Nadu although the joint venture partners are in the process of setting up a new dedicated LCV plant.

"The joint venture company, in which your company is an equal partner with Nissan, is preparing for a new manufacturing facility near Chennai dedicated for LCV. Through these efforts, your company would have a complete LCV product portfolio by the end of 2013-14 to meet a variety of evolving customer requirements," Hinduja said.

In FY 2012-13, the Chennai-based firm produced 1,12,163 vehicles, including 35,401 units of Dost, a 9% growth compared to the previous year.

Ashok Leyland posted sales turnover of Rs 12,481.20 crore in 2012-13, while its net profit stood at Rs 433.71 crore during the fiscal.

Shares of Ashok Leyland were last trading at Rs 18.60 apiece, up 0.54%, on the BSE.