Commercial vehicle maker Ashok Leyland Ltd. (ALL) is planning to focus on Africa to increase revenue from exports, according to a top official.
“International business is important for us,” Gopal Mahadevan, CFO, told the media.
“We are much better placed today than four years ago to grow our international presence by scaling up our export business,” he said.
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“We have a wide range of products offering both right-hand drive and left-hand drive,” he added.
“Apart from our traditional markets such as Central Asia, Sri Lanka and Bangladesh, our focus now will be on African markets. We believe that after a couple of quarters, we can see a substantial increase in export volumes,” he added.
Stating ALL had the sufficient capacity in the medium and heavy commercial vehicle (M&HCV) segment, he said the company might have to add capacity in the LCV segment, if it had to move further.
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He said capital expenditure plans were on track. Till date, ALL had incurred ₹450 crore. It had also brought down net debt to ₹2,880 crore from ₹3,076 crore in Q2 of FY21.