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Hinduja flagship Ashok Leyand has made significant progress in defence business and sees opportunities to grow the revenues from about ₹500 crore to ₹5,000 crore over a period of time. The optimism comes from the fact that its addressable market has swelled with its expanding product offerings.
“We were competing less than two per cent of the defence budget. Now we are available to compete in 25 per cent of the defence budget for mobility solutions whether on wheels or tracks. Also, we have won 12 out of the last 13 tenders. We will achieve at least three-fold increase in defence revenues in the next three years,” said Dasari.
The company’s latest orders include bullet-proof vehicles mine-protected vehicles for security personnel in a few States.
Overseas plansHe added that the company was giving thrust on growing its international business. “The plan is to sell one vehicle overseas for every two vehicles sold in India,” he added.
Ashok Leyland will be opening its new assembly plants in Ivory Coast and Kenya over the next 12-18 months and it will be doubling the present capacity of 16 buses a day at its facility at Ras Al Khaimah in Dubai. It is also preparing to export its Boss trucks to Russia soon. “We will enter every market which has a monthly market of 200 vehicles", said Dasari. It proposes to incur a capex of ₹500-600 crore annually to launch vehicles and setting up assembly units.
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