@ astoK verano ‘Aapki Jeet. Hamari Jeet uly 31, 2019| National tock Exchange of nia ited as Limited bechange Plaza Phiroze Jeejeebhoy Towers (C4, Bleck 6, Bandra Kula Complex Dall street Bandra), Mumba -400 051 ‘Mumbai - 400 002 Séerip Code: ASHOKLEY ‘Stock Symbol: 500877 Through: NEAPS “Through: BSE Using Centre ear Sirs, Subject: Standalone and Consolidated unaudited financial results ofthe Company for the quarter ‘ended June 30,2019, “This sto inform that atthe meeting held today, the Board of Diectors of the Company have soproved the standalone and consolidated untied fnancal results ofthe Company for the ‘quarter ended lune 30, 2018, ‘A copy ofthe standsloe and consolidated unaudited financial results alon with Independent ‘uals Limited Review Reports anda copy f Press Release being released in this regard are attached herewith “The meeting commenced at 10.15 a.m, and ended at 1.00 pn. forthe Annual General Meeting of the Company schedled at 2.45 pr, The meeting e-convened at 5.30 p.m. fr conduct of the remaining agenda items and the agenda relating to financial ests were approved by the Board 3620 pm. The Board meeting continues fr ascussing other agenda tert) ‘The above information willbe made avalable on the Company's website wwwashokleyland com. Youre ath, for ASHOK LEYLAND LIMITED pret Ramanathan Company Secretary Enel: a/a© ASHOK LEYLAND beter ed ‘Ashok Leyland Q1 FY ’20 Revenues at Rs. 5684 Cr; EBITDA at 9.4% Gains Market Share in M&HCV & LCV CChenna, July 31, 2088: Ashok Leyland Limited, flagship of the Hinduja Group, reported 2 revenue of fs, 5,684 Cr which was 9% lower than the same period last year (Rs. 6263 Cx). The Total Industry Volume had ‘come down by 17%. PBT for the quater was at fs. 361 Cr (Rs. 536 Cr) and PAT was at Rs. 230 Cr (Rs. 422 Cr) EBITDA forthe quarter was at 9.4%. The Company's market share in the MHCV segment fr the quarter grew bya%to 341%. [Me, Dheeraj 6 Hinduja, Chairman, Ashok Leyland Limited sad, “While the industry has witnessed a decine in volume of 17%, Ashok Leyland’: marketshare has grown by 4%, Our EBITDA at 9.4% despite decline in revenues signifies efficient cost management inthe Company. We are well on course to introduce 8S VI vehicles and wil be seeding vehicles shorty. Despite a drop in TV by S%, our LCV business continues to do very well and posted a growth of 12%" ‘Me. Gopal Mahadevan, Whole Time Director and Chief Financial Office, Ashok Leyland Limited said, “with signs of slower demand, we ae csely watching the developments inthe industy. We continue totake cost out and drive productivity and growth iniiatives.” ‘Tae Company has published the Consolidated Quarterly results fer the fist time in this quarter ‘Tre company launched a slew of productsin this quarter; Boss 1916 4623 Tractor, 4223 MAV, High Horse Power Tractor $532 and the 24 & 32 Feet fully built containers in premium and economy segment were the star Introductions. Under the Customer Solutions Business, the Company also launched “Sadak ka Saath” a breakdown assistance program with Hindustan Petroleum Corporation Ltd, This introduction makes ‘Ashok Leyland, one ofthe largest roadside assistance providers in the country for Commercial Vehicles. In July "29, the Company has launched "Oyster", the next generation AC mid-bus in the premium category. ‘These mull- purpose premium secondltioned bus range has been designed and manufactured in-house fos ‘and tourist commuting. For further information/media queries, contact fajesh Mani, Hea Waring ond Corporate Cmimuncatns | ash Mani@asholeand ca | 919500022022 esis Anand, Olona Manager Crperet Comicon | Merashaand@ashchefaedcam| +91 944276464Price Waterhouse & Co Chartered Accountants LLP To, ‘The Board of Directors Ashok and Limited, Nou, Sardar Patel Road, Gnd. Chennai - 600032 1 Weave reviewed the unaudited financial resalts of Ashok Lyland Limited (the “Company” forthe quer ended June 30,2019 which ae included in the accompanying “Statement of Standsione Unoudited Fanci results for the quarter ended June 30, 2019" (the *Sutement). The Statement hasbeen prepared bythe Company pursuant to Regulation sof the SEDI (Loting Obligation and Disclosure Requirements) Regulations, 2015, (he "Listing ‘Regulations, 204) whch has bee filled by us for identification purposes, “The Statement which the responsibility ofthe Company's management, hasbeen prepared Inaccordance’ with the resgaition and measurement principles lad. down tn Indian ‘counting Standards (ind AS) 94 ‘Intern Financal Reporting” preserbed under Seton {33 of the Companies Act, 2043, end other accountng prictples general sceptd in Inia ‘hi tas been approved by the Boar of Dietor Our eponsibIiyI to sbue a Feprt onthe ‘Statement basa on our review 2 We conducted our review in accordance with the Standard on Review Engagement (SRE) 22s10,-Review of lterim Financial Information Performed ty the Independent Auditor of the Eatig”, issued by the Institue of Chartered. Accountants of India. This Standard Fequites that we plat nd perform the review to obtain moderate assurance as to whether the Statement is fre of material misstatement. | Arevew is limited primarily to inguises of company personnel and analytical procedures “npled to Goacil! data and thus proviles lee auoarance than an audit We have not performed an adit and, according, we do not express an aut opinion. 4. Based on our review conducted as above, nothing has come to our attention that euses us to ‘ele thatthe Statement ha ant been prepare in all mater respects in accordance With the applicable Asenontng Standards prescribed uber Seton 13 ofthe Companies A 013 and other recognised aceunting practice and poles, and has not dissed the {information equted to be disclosed in terms of Regulation 39 ofthe Listing Regulations, 2Zoig iniading the manner in which iti to be @losed, or that I cootans any materia 15. Wedraw your stestion to Note 8 tthe Statement, 3areh 1, 2019, the National Company Law nuns! approved the Scheme of Amalgamation ‘etweua the Company and three of ts subsidiaries (ihe Scheme’), subsequent fed with he ‘elevantcegaltory authorities, and has bovome efleive on the said date of approval. The figures dclose i the Statement forthe quater ended June 30, 2018 have been restated 0 sie elfect tothe Scheme. Our conclusion not modiled in respect ofthis matter. Price Waterhouse & Co Carter cpus LL, 8h For, Prestige Palladium Bayon, 129-140 ‘Grama ed, Chern 660 co Ia. Sora) aa sno, Ps C48 100Price Waterhouse & Co Chartered Accountants LLP 16. We id ot eeview the standalone financial information ofthe amalgamating compar the quarter ended June 40,2018 incaded in the standalone Rank rls, whove Enancal Information reflect total revenbe of Fs. 661 cores, profit after tax of Rs ig. erores and total comprehensive income (compasng peo and ether comprehensive income of RS. 13.5, fyotes forthe sail period. The afraid. Guancal information of the amalgamating panies, hasbeen reviewed Bf another frm of chartered accountants whose reports dated Febrnry 5 19 hs boon arash tous, and oar opinion ins far as relates (0 the mounts and dslosures included in respec f the amulamatog compan, i base soley (nthe reports ofthe other suitor Oureonclsio at odie a Yespect ofthis ate. or rice Waterhouse Co Chartered Aesountants LLP in Registration No. 340261300009 (Charters Acoountants soak seman Yk lace: Chennai ‘Membership Number: 100332 Date-July 3h 2019Price Waterhouse & Co Chartered Accountants LLP To, ‘The Board of irons ‘Ashok Land Limited Nout, Saar Patel Road Guindy, Chena 600 032 1. We have reviewed the unaudited consolidated Saandal resis of Ashok Leland Limited (he “Parent Companys bss (the Parent Company and its subsidiaries hesinafter refered to ‘the Croup") uit ventures and stole ompanes fr paragraph 4 below forthe quarter ed Jue 30,2019 which ae incuded in the accompanying “Statement of Standalone and (Conoidted Ueatited Finacial Rest forthe quater ended Je 0, 2019° (he “Statement ‘The Statement being eae by the Parent porsuat tthe requirement of Reslation 30 the [SUB Listing Obligations and Daoane Requirements) Regulation, 201,25 amended, which has ‘bem nla by for detain purposes. Arteton i drawn to the fat tat the consolidated [ure forthe coresponding quate? eaded June 30,2018 and the eoespnding quarter ended March 31 201, puted in hee Soon els hve een approved bythe Parent's Board of incor ut havent boen subjected to rove. ‘2, This Statement, which sth esponstiliy ofthe Parent’ Management and approved by the Parents ‘one Diectors hasbeen repel in ctordane wih the ecogasn and measurement principe (dwn in Idan Acounting Standard Inter Pinencl Reporting” Cod AS 347) pesca {ner Sceton 19 of the Companies Act, 2019, and ther acounting peels ener acted {hla Our responsibly to express aconstson on the Statement based on or revi. {3 We enducted our review of the Statement in agora withthe Standard on Review Engagements (GRE) 2410 “Review of ner Paani Information Feformed bythe Independent Auditor of the Ent” ued byte Instn of Chacerel Accountant of nin The Standard requires tat we pan {int perm the rovew to obtain moderne evurasa owhether the Statement seo at ‘most soe of iste anal information canst making nies primary persons ‘orale fo ancal nd sessing masters, and aping aati and ter eiew procedures A ‘overs ubstata less in sop tha an aut conducted in aesordance vith Standards on Aang consent doesnot enable sto obtain assurance that we wold become avare ofl sgnieant ‘ters that might be enfin anand. Acordingy, we donot expres an audit opinion. Wi als perfor css in cordance wih the cular ised bythe SEBL under Regulation 33 (@) of the SEBI (Listing Obligations and Disclosure Roquirements) Regulations, 2015, as amended tothe extent ppliable 44, ‘The Satement ines the results of the llowing ets: Subsidiaries i, Hindu Leyland Finance Lined and its subsidiary andasocate 4 GulfAshley Motor Limited ‘i, Global TVS Bus Body aides Limited Jao HLP Servis Limited Optare Plc and its subsidies ‘i Athok Leyiand (hile) SA Wik Ashok Leyland (Nigeca) Limited ‘si, albonaie nda) Private Limited [a Albonaie Gb and its subsidiary Ashok Leland (UAE) LUCand its subsidiaries BAe Avan ied Price Waterhouse & Co Chartered Acountrts LP, th Foor, Prestige Palladium Bog (Gren oad, Cheat = 600006, aie / Pega) aad go, Caf) 828 5100Price Waterhouse & Co Chartered Accountants LLP oi Ventures: LL Hinduj Teck Lied and is ubsdialas i, Ashok Leyland John Deer Construction Equipment Company Privat Limited Ashley Ateams india insite 4. Ashok Lpland Defence Systems Limited 4 Mangalam Reta Serica Limited Si Lanka Ashok Leyland Limited {5 Bate on our eve condted and procedres performed a stain pargrph 3 above and based on {heconsdesio ofthe review report of te oher ators reed ton paragraph 6 blow, ‘ae come to or atation tht eases uo eee thatthe aesompanytg Statement fas ne Dost [pevwre in all mata oper in nxornce wih Ge scope td metre pence eed ‘dove the afore ndian Acouning Slandrd atl oer aecouniing pines general ace {nnd ad hast disclosed th avormation required tobe dosed in tars of Regution 3 ofthe ‘SEDI isting Obiatons end Disclosure Requires) Regulations 2015 as amended ag the ‘Banner in wishin be dled ora commis any mater inser We did ot review the conslte intern finnclinforation ofa aubldiayincided in the ‘onsoldated unaided finan sul, whose trim nana statements fle tal evens of ‘g.718.66 crores total net pot ar tax of Rs 7.20 ores and ttl comprehension / oss) of Rs, 79 crores, fr the uate ended June , 2019, and as consigered in the eonslidatd ‘Suited Goone resuks These item ruil intuation have been. evo by ott ‘Stor in accordance with SME ayo, Have of tte Financ Infrmaton Pear by te Independant Anitor othe Entity abd te epat dated July 29,201, vide which they have sued ‘unmodified conclusion have ben farnshed wo usby the Parents Management andoureondusen fom the Statement a0 fra retest the mount and demure ncloded In spect of tat ‘sii, based sol onthe report ofthe oe audios and te neues perfor by ws stated in paragraph 3above (nr concason on the Sieretltnfed in epet fhe above ater. 7. The consolidated unaudited Snandal results indudes the consolidated interim Sani] Information of three subsidases and inter financial information of seven subsides which have not been reviewed by their auditor, whose intern financial information eect oa even of Re 400.88 crores total net proi/oss) afer tax of Re C499) crore and tt ompechenive isco / as) of Ra (60) ert, forthe quarter ended Juba 90,2019 crldered in te consolidated unaudited financial results. The sonsobated unaudited San fests ako Infos the Groups share of et protGos) ator tax of Rs. .09 eres and taal ferpreheniveincome/ las] of Re 08 rres forthe quarerndel ne 90,2019 considered fa fhe consolidated unaudited andl resus in apt of iver soln aed thre on ene, ‘ised on elrnerim ancl information whlch vent ben eve yt ation. score ‘otheinfomaon and explanations nto sty the agent, hae erin finda normaton ‘rent mate to the Group. ‘ou concuson on the Statement isnt mood in spect ofthe above mater. or Price Waterhouse & Co Chartered Accountants LLP Fim Reglstration No. g04020%/E-300009 (Charro Acoumtants Mok ‘Sabramenian Vivek. Place: Chenoa Membership No.:toosa2 Date: Sly, 2019