You are here: Home » Companies » News
Business Standard

Ashok Leyland floats new subsidiary to manufacture bus bodies, coaches

The new company will manufacture bus bodies and coaches

Ashok Leyland | Auto industry

T E Narasimhan  |  Chennai 

In Sri Lanka and Bangladesh, where ALL is a market leader but has been losing volumes, it has put up both assembling and manufacturing plants
File photo of an assembly line at an Ashok Leyland manufacturing plant

Ltd has incorporated a wholly-owned subsidiary Vishwa Buses and Coaches Limited with a capital of Rs 60 crore.

The new company will manufacture bus bodies and coaches. Meanwhile, said it had reduced its shareholding in Optare PLC, its UK subsidiary.

On Optare, said consequent to the conversion of loans by Hinduja Automotive Ltd, UK, into equity shares in Optare PLC, the company’s (Ashok Leyland Limited) shareholding in Optare PLC, stands reduced from 99.24% to 91.63%.

Optare PLC is engaged in the business of manufacturing and selling of buses.

Optare reported a loss of Rs 138.23 crore in 2019-20, as compared to loss of Rs 85.33 crore in 2018-19 and loss of Rs 90.27 crore in 2017-18. Revenue dropped to Rs 336.22 crore in 2019-20 from Rs 449.89 crore reported in the corresponding period of the previous year.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 20 2020. 18:17 IST