Ashok Leyland Gears Up for Growth with Rs 1,000 Crore Capex Plan

Ashok Leyland, the flagship company of the Hinduja Group, has announced its intention to allocate Rs 1,000 crore towards capital expenditure for the current financial year, according to a senior official's statement on Friday.

The company, known for its robust financial foundation with Rs 4,242 crore in net cash, is committed to investing in product and technology advancements. Chief Financial Officer K M Balaji stated that the capital expenditure for the previous financial year was close to Rs 1,000 crore, and a similar amount is planned for the upcoming year, FY26.

Managing Director and CEO Shenu Agarwal highlighted the company's transition from a net debt of Rs 89 crore to a net cash surplus of over Rs 4,000 crore, emphasizing plans to reinvest in growth areas, notably the electric vehicle division Switch Mobility, which has a strong order book of over 1,500 buses.

(With inputs from agencies.)