Ashok Layland Annual Report 2011-12

Description
The report for the financial year 2011 - 2012 of ashok layland.

ANNUAL REPORT 2011-2012 21
FINANCIALS
A P???Ž????? Þ????????? .................................................................................................................. 22
Directors’ Report ............................................................................................................................ 23
Mu ? ClC C???????Ž? ................................................................................................................... 48
Auditors’ Report to the Members .................................................................................................. 49
8?????? S???? ................................................................................................................................. 52
S???????? Ž? Þ?Ž?? ??? LŽ?? .......................................................................................................... 53
C??? l?Ž? S???????? ...................................................................................................................... 54
S???????? Ž? S????????? A??Ž????? ÞŽ??????................................................................................. 56
nŽ??? ??????? ?Ž ??? ?Ž????? ???? Ž? ??? l???????? S?????????................................................... 59
ASHOK LEYLAND LIMITED 22
A HISTORICAL PERSPECTIVE
` Lakhs
2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
#
2011-12
#
Sales Volume
v??????? ????????? 36,444 48,654 54,740 61,655 83,094 83,307 54,431 63,926 94,106 1,01,990
L?????? ????????? 5,924 5,085 6,254 7,171 8,202 11,757 21,447 19,050 17,377 16,170
S???? ????? ??? Ž????? 47,710 44,680 54,600 78,380 54,684 79,124 79,969 88,506 1,06,194 1,71,748
Revenue (Gross sales) 3,07,400 3,92,730 4,81,080 6,05,310 8,30,472 8,94,715 6,66,664 7,87,260 12,15,300 13,65,847
Þ?Ž?? ???Ž?? ??? 17,010 28,646 35,501 45,230 60,451 63,815 20,845 54,477 80,180 68,998
Þ?Ž?? ???? ??? 12,021 19,358 27,141 32,732 44,129 46,931 19,000 42,367 63,130 56,598
A?????
n?? 1???????? l?????????
?????? ???? CWlÞ
93,980 92,110 97,900 1,08,470 1,54,452 2,05,479 4,39,741 4,81,103 4,99,176 5,46,172
l?????????? 15,758 14,660 22,919 36,818 22,109 60,990 26,356 32,615 1,23,000 1,53,448
n?? ??????? ?????? 74,812 63,100 99,161 82,392 94,183 60,332 1,02,867 1,17,893 83,897 79,497
1Ž??? 1,84,550 1,69,870 2,19,980 2,27,680 2,70,744 3,26,801 5,68,964 6,31,611 7,06,073 7,79,117
I??????? ??
S?????Ž?????? ????? ? C?????? 11,890 11,890 11,890 12,220 13,239 13,303 13,303 13,303 13,303 26,607
? 8??????? 84,060 90,050 1,02,960 1,28,300 1,73,775 1,99,366 3,33,118 3,53,055 3,82,562 3,93,225
LŽ?? ????? 71,750 49,900 88,040 69,190 64,040 88,750 1,95,815 2,20,389 256,826 3,09,790
u??????? ????????? - - - - - - - 7,655 8,993 43
u??????? ??? ????????? ? n?? 16,850 18,030 17,090 17,970 19,690 25,382 26,344 38,454 44,389 49,037
lŽ????? ???????? ????????Ž?
????????? ???Ž??? ? n??
- - - - - - 384 ??????? - 415
1Ž??? 1,84,550 1,69,870 2,19,980 2,27,680 2,70,744 3,26,801 5,68,964 6,31,611 7,06,073 7,79,117
Basic Earnings Per Share (Rs.) 1.01 1.63 2.28 2.74 3.38 3.53 1.43 3.18 2.37* 2.13*
Dividend per share (Rs.)
(Face value Re. 1 each)
0.50 0.75 1.00 1.20 1.50 1.50 1.00 1.50 2.00 1.00*
L???Ž???? ????????? 11,860 12,007 12,178 11,845 12,125 13,304 11,938 13,662 15,812 15,734
*
Post Bonus Issue
#
l?????? ?Ž? ??????? ??? ??????? ???? ???? ??????????? ?? ????????? 5??????? vl ?Ž???? ?Ž ?????? ?Ž??????Ž? Ž??? ??????
ANNUAL REPORT 2011-2012 23
DIRECTORS’ REPORT
Þ??? I ? Þ???Ž?????? ? C?????Ž??
1?? u?????Ž?? ???? ???????? ?? ????????? ??? A?????
8??Ž?? Ž? ??? CŽ?????? ?Ž?????? ???? ??? ??????? l????????
S?????????? ?Ž? ??? ???? ????? M???? ??? ?????
IINANCIAL kLSUL1S
(` ??????
2011-2012 2010-2011
Þ?Ž?? ???Ž?? ??? 68,997.66 80,179.93
L???? Þ?Ž????Ž? ?Ž? ?????Ž? 12,400.00 17,050.00
Þ?Ž?? ???? ??? 56,597.66 63,129.93
8?????? ??Ž?? ??Ž? ???? ???? 75,118.52 57,744.98
1????????
?? l?Ž? u???????? ???????Ž?
??????? ?Ž S???????? Ž? Þ?Ž??
??? LŽ??
3,750.00 416.66
?? l?Ž? S???????? Ž? Þ?Ž?? ???
LŽ?? ?Ž u???????? ???????Ž?
???????
(3,750.00) ??????????
?? l?Ž? S???????? Ž? Þ?Ž?? ???
LŽ?? ?Ž C?????? ???????
(10,000.00) ???????????
Þ?Ž??? ????????? ?Ž? ????Ž?????Ž? 1,21,716.18 1,06,041.57
A???Ž?????Ž???
Þ?Ž?Ž??? ???????? 26,606.77 26,606.77
CŽ??Ž???? ???????? ??? ?????Ž? 4,316.28 4,316.28
8?????? ??Ž?? ??????? ?Ž ??????? ????? 90,793.13 75,118.52
L??????? Þ?? S???? ?l??? ????? 8??????
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8Ž????
2.13 2.37
Dividend
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ASHOK LEYLAND LIMITED 24
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Human Resources
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DIRECTORS’ REPORT
ANNUAL REPORT 2011-2012 25
ANNEXURE A TO DIRECTORS’ REPORT
PARTICULARS OF CONSERVATION OF ENERGY, TECHNOLOGY
ABSORPTION AND FOREIGN EXCHANGE
?A? CCNSLkVA1ICN CI LNLkG¥
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CŽ?? M????????? l????????
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2010-11.
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`. Lakhs
2011-12
Capital 13,808.27
8?????? ?????????? ?????????Ž?? 22,502.23
L???? A?Ž??? ???????? ?? 8?u l???????? 807.50
1Ž??? 35,503.00
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ASHOK LEYLAND LIMITED 26
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ANNUAL REPORT 2011-2012 27
?? A???????? ?? 8Ž??? M?????? ??? ?????Ž?? A????? G?????? M????? ?AGM? ??? ??????? Ž?
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REPORT ON CORPORATE GOVERNANCE
ASHOK LEYLAND LIMITED 28
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AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ANNUAL REPORT 2011-2012 29
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REPORT ON CORPORATE GOVERNANCE
ASHOK LEYLAND LIMITED 30
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AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ANNUAL REPORT 2011-2012 31
M?? 8 S????????? ??? M?? v??Ž? k u????? ??? ????? ?Ž??????
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Ž? M?? S????? k A????? l?????????? u?????Ž??
?? C???????? M?? u ! 8????? 8?Ž? l??????????
u?????Ž? ?? ? ?????? ??? M?? 8 S??????????
L??????? v??? C??????? ?? ? ???????
?? 1??? CŽ?????? ????Ž??? ????? Ž? ??? ?????
?????????? ??? ?ŽŽ?? ???Ž ??????Ž? ?Ž?????????
?????????? Ž? ? ????Ž????? ??????
?? 1?? CŽ?????? ???Ž ??????? ??? ????Ž??????
Ž? ??? CŽ??????? 8???????? ? 1??????? A????
?8?1A? ??? ????? ?????? Ž? ??????? ???? ???
????Ž????? ?Ž ?Ž?????Ž?????? ??Ž? ??? ?????Ž????
Ž? ??????Ž?????? 1?? ?????? ??? ????????? Ž?
??????? ???? ?Ž??????? ?????? ???????? ??Ž? S?Ž??
L????????? SL8l? M??????? Ž? CŽ??Ž???? A?????
????? ??? ??? ????Ž???? ??????Ž ??? ???????? ??
???? CŽ???????
?? 8???? Ž? ??? ????????? ?Ž???? Ž? ??? 8Ž???
Ž? u?????Ž??? L??????? v??? C??????? ?
M??????? u?????Ž? ????Ž??? ??? ????? ??????????
??????????Ž?? Ž? ? ??????? ????? ??? ??? ???? ??
???Ž???? ?? ??? ???? ?????? Ž? ??? CŽ???????
?Ž?????? ???? ????? ????????
?? M?? A 8 C??????????????? L??????? u?????Ž?
??? CŽ????? S???????? ?? ??? S???????? ?Ž ???
CŽ?????? ??? ?? ???Ž ??? CŽ???????? C????
???Ž????? ?Ž? ??? ?Ž???????? Ž? ??????? ??????
related laws.
?? M?????? ??? A???????? ?????? ??? ???? ????????
D??? Ž? M????? NŽ? Ž? ??????? ???????
M?? ??? ???? 3
!??? ??? ???? 2
nŽ?????? ?? ???? 2
l??????? ?? ???? 3
u????? ??? ????? ????? ?Ž?????????Ž?????Ž??????
?????? ???? ???????? ??Ž? ??????Ž?? ?????????? ??
?????? ??Ž? SL8l ? S?Ž?? L????????? MCA ???
????? ?????? ???? ???????? Ž? ?Ž???? ????????
??? ????? ???? ????? ???? ????????Ž????? 1?? ????
??? ??????? ????? Ž?????Ž????? ???????? ???????
???Ž?? ??? ?Ž???? ??? ?????? ???? ????? Ž?
?????????? ?Ž????????Ž? Ž? ?????????Ž??
????? ???????? ????? ???? ????? ???? ???Ž?????
? ?????Ž???? ?Ž???????? ?? ?? M???? ??? ????
???? ????? ???? ???Ž???? ?? A???? ?? ?????
?? A? Ž? M???? ??? ????? ????? ???? ?Ž ?????
????????? ????????
?? G?????? ?Ž?? ???????
?? u?????? Ž? ?Ž???Ž? ??? ??? Ž? ?Ž????? ??? ????
three AGMs.
¥??? LŽ???Ž? D??? ? 1???
62
??
AGM - 2011
1?? M???? A??????
Madras
168 TTK Road,
8Ž????????
C?????? ??? ???
!??? ??? ????
2.45 p.m.
61
st
AGM – 2010
1???? l??? S??????
8???? A????????
M???????
?? L???????? 8Ž???
C?????? ??? ???
!??? ??? ????
2.45 p.m.
60
th
AGM - 2009
k?????? M??Ž????
Hall,
??? A??? S?????
1?????????
C?????? ??? ???
!??? ??? ????
10.30 a.m.
1?? C??????? Ž? ??? A???? CŽ?????? ???
??????? ?? ??? ??? ??Ž?? ACM??
nŽ LCM ??? ???? ?? ??? ???? ????? ??????
?? nŽ S?????? 8??Ž???Ž?? ???? ?????? ???Ž?? ???
??????Ž????? ????????? ????Ž??? ???Ž??? ÞŽ????
Ballot.
7. Disclosures
1???? ???? ???? ?Ž ?????????? ?????????? ??????? ?????
????????Ž?? ???? ??? CŽ??????? Þ?Ž?Ž????? u?????Ž??? ???
M?????????? ????? S??????????? Ž? ???????? ????? ???
???? ?Ž?????? ?Ž????? ???? ??? ????????? Ž? ??? CŽ??????
1?? ????????? ?????Ž????? ????????? ??? ????????Ž?? ????
8?????? Þ????? ??? ????? ?? ??? nŽ??? ?Ž ??? l????????
AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ASHOK LEYLAND LIMITED 32
S????????? ?Ž? ??? ???? ????????
1???? ???? ???? ?Ž ????????? Ž? ?Ž???Ž???????? ?? ???
CŽ????? Ž? ??? ?????? ??????? ?Ž ??? ??????? ????????
?Ž? ???? ??? ?????????????????? ???? ???Ž??? Ž? ???
CŽ????? ?? ??? S?Ž?? L???????? Ž? SL8l Ž? ??? Ž????
??????Ž?? ????Ž???? Ž? ???? ?????? ?????? ??? ???? ?????
?????? 1?? CŽ????? ??? ?Ž ?????????? ?Ž????? ?? Ž?
March 31, 2012.
?? M???? Ž? CŽ????????Ž?
?? l?????Ž? ?????? ?? ????? ???? ????? ???? ?? ??
????Ž???? ?Ž ??? ??????????? ??????? ??? ??? ????
?? ????????? Ž? ??? CŽ??????? ??????? ????
???Ž??????????Ž?
?? 1?? ????????? ??????? ???? ???? ????????? ?? Ž??
??????? ???Ž??? ?L??????? ???????? ?????????
??? ?? Ž?? ?????????? ?1????? ?????????? 1??
????????? ??????? ??? ???Ž ????????? Ž? ???
CŽ??????? ??????? ???????Ž??????????Ž?
?? 1?? CŽ??????? ??????? ???Ž ???????? ???????
Ž???? ??????? ? ???Ž????Ž? Ž? ???????? ?Ž ????Ž??
??????Ž?????? ????????? ????? ?????????
?? A M????????? u???????Ž? ??? A??????? 8??Ž?? ??
????? ????????? ?? ? ???? Ž? ??? A????? 8??Ž???
?? G???? I??????? ? Þ??????? ?Ž ?C???? l????????
??Ž?Ž??? ?? M??????? Ž? CŽ??Ž???? A????? ?MCA?
???? ??? C??????? ????? ?????????? ?? ????Ž???
?Ž ??? ???????Ž?? ???? ?? ???? ??????Ž?????
?? ??? ???? ??? ?Ž ?Ž???????? ?Ž????? ????Ž???
?????Ž?????? ??? CŽ????? ??? ??????? ?????
???Ž? ?Ž? ??????? ?Ž????????Ž? ? A?????
8??Ž?? ??? Ž???? ?Ž??????? ???Ž??? ??????Ž???
mode to shareholders. It is hoped that with
???? ?????????? Ž? ??? C???? l??????? ??
??? ??????Ž?????? ??? CŽ????? ?Ž??? ?? ????
?Ž ???????????? ????????? ??? ????? ???????
?Ž????????? ??? ???? ?Ž ? ??????? ?????Ž??????
?? G?????? ??????Ž???? ???Ž????Ž?
a. 63
rd
A????? C?????? M?????
? u??? u??? ??? 1??? 1??????? !??? ??? ???? ? ???? ????
? v???? 1?? M???? A?????? M?????? ??? 11k 8Ž???
8Ž???????? C?????? ??? ???
?? l???????? C???????
A????? C?????? M????? !??? ??? ????
u???????? ??????? ?Ž? ??? ??????? ?????? !??? ??? ???? !??? ??? ????
u???????? ??????? ?Ž? ??? ????????????????? ??????
September 30, 2012
2
??
???? Ž? nŽ?????? ????
u???????? ??????? ?Ž? ??? ??????? ?????? u??????? ??? ???? 4
th
???? Ž? !?????? ????
A?????? 8?????? ?Ž? ??? ???? ?????? M???? ??? ???? 8??Ž?? ??? Ž? M?? ????
c. Book Closure Date l?Ž? !??? ??? ???? ?Ž !??? ??? ???? ??Ž?? ???? ??????????
?? u??????? ??????? ???? CŽ???????? !??? ??? ???? ? ?Ž ?? ?Ž??????? Ž? Ž?
???Ž?? !??? ??? ????
?? ?? L????? Ž? L????? S????? M????? S?Ž?? L??????? L???
BSE Ltd.
n??Ž??? S?Ž?? L??????? Ž? l???? L???
AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ANNUAL REPORT 2011-2012 33
?? L????? Ž? C?Ž??? u??Ž???Ž?? 8??????? ?Cu8?? LŽ??Ž? S?Ž?? L???????
?? L????? Ž? ????????? ?????? u????????? n??Ž??? S?Ž?? L??????? Ž? l???? L???
1?? L????? l??? ???? ???? ???? ???Ž ????? ?Ž ??? ??? S?Ž?? L????????
?? S?Ž?? CŽ??
?? 1?????? S???Ž? ?? M????? S?Ž?? L??????? L??? ALL
BSE Ltd.
? Þ??????? 477
- Demat 500477
n??Ž??? S?Ž?? L??????? Ž? l???? L?? ASHOKLEY
?? u???? lSln n?????? ?? nSuL ? CuSL L????? S????? INE208A01029
?? u???? lSln n?????? ?? nSuL ? CuSL ? ????????? ?????? u?????????
? A??Ž? L?????? ????? ???? S????? ? AL ?? INE208A07281
? A??Ž? L?????? ????? ???? S????? ? AL ?? INE208A07299
? A??Ž? L?????? ????? ???? S????? ? AL ?? INE208A07307
? A??Ž? L?????? ?????? ???? S????? ? AL ?? INE208A07315
?? S?Ž?? M????? u???
MŽ???
BSE Ltd. n??Ž??? S?Ž?? L??????? L???
Share Price S????? ÞŽ???? Share Price S?Þ Cnx n??? ÞŽ????
P??? ?8??? LŽ? ?8??? P??? Low P??? ?8??? LŽ? ?8??? P??? Low
Apr 2011 59.80 52.50 19811.14 18976.19 60.65 51.50 5944.45 5693.25
M?? ???? 53.25 45.00 19253.87 17786.13 53.10 45.75 5775.25 5328.70
!?? ???? 55.65 45.35 18873.39 17314.38 53.00 45.30 5657.90 5195.90
!??? ???? 53.30 47.90 19131.70 18131.86 53.50 47.75 5740.40 5453.95
A?? ???? 52.40 22.75 18440.07 15765.53 52.45 22.80 5551.90 4720.00
Sep 2011 27.90 24.35 17211.80 15801.01 27.90 24.25 5169.25 4758.85
Oct 2011 27.35 23.20 17908.13 15745.43 27.45 23.75 5399.70 4728.30
nŽ? ???? 29.90 24.20 17702.26 15478.69 28.85 24.10 5326.45 4639.10
Dec 2011 27.05 20.05 17003.71 15135.86 27.05 20.00 5099.25 4531.15
!?? ???? 27.90 22.10 17258.97 15358.02 28.00 22.05 5217.00 4588.05
Feb 2012 30.50 25.60 18523.78 17061.55 30.60 25.05 5629.95 5159.00
Mar 2012 30.40 26.90 18040.69 16920.61 30.50 26.90 5499.40 5135.95
nŽ??? ??? ?Ž??? ?????? ?????? ?? A????? ????
AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ASHOK LEYLAND LIMITED 34
?? S???? Þ???? ????Ž?????? ?? ?Ž??????Ž? ?Ž ??Ž??
????? ??????? ? 8SL S????? ??? nSL n??? S????
Þ???? MŽ?????? ?8SL ??? nSL? ? S?? 1???? Ž?
Þ??? ?? ??? C???? Ž? Þ??? ???
i. 8???????? ??? 1??????? A?????
M?? l????????? L?????????? ?l????? L???? ??? l?ŽŽ??
k????? 1Ž????? ? 8?????????? S?????? nŽ???
u???? 8Ž??? 1? n????? C?????? ??? ??? ???? ????
??? ??????? Ž? ??????Ž? ????????? ??????? ?Ž ??????
?? ?Ž?? ???????? ??? ????? ?Ž???
? S???? 1??????? S?????
1?? ????Ž???? ??????? ?Ž ???????? Ž? ?????? ???
?????? ?Ž?? ??????? ?Ž ????????? Ž? ??????Ž?? ???
???? ????????? ?? ??? 8Ž??? ?Ž ??? S?????Ž??????
l?????Ž?? C???????? CŽ?????? ????? ?Ž?????? Ž?
M?? S????? k A???? ?C????????? M?? u ! 8????? 8?Ž
??? M?? 8 S??????????
l? Ž???? ?Ž ??????? ????Ž?? ??? ????? ?? ??????Ž?
?????????? ??? 8Ž??? ??? ????Ž????? L???????
v??? C??????? ? M??????? u?????Ž? ?Ž ????Ž?? ???
?Ž???? ?????????? ??????????Ž??? ????? Ž? ???????
S??? ????Ž??? ?? ????? ????? ?? ??? L???????
v??? C??????? ? M??????? u?????Ž? ?? ????????
????????? ??? ???? ?????? ????????? 1?????????
??????????Ž??? ????? ???? ????????? ????Ž???
?????? ?? ????? ???????? ?Ž? ??????????????Ž?
???? ?Ž?????? ?????? ? ???? ??? ??????? ???
?Ž?? Ž? ?? ?????? l? ?????Ž?? ??? CŽ?????? ???
?Ž?? ???? ?????? ??? ???? ??????? ?Ž? ????Ž????
?????????? ??????????Ž??? ????? Ž? ????????? ??????
????? ??? ????????? ??????Ž? ???????????
?? u???????? S?????
????????? ?????? ???? ????? Ž?????????? ??
u???????? ?????? ?? ??? ????????? Ž? ??? ????
?????????? ?Ž ????? ??????Ž??????
??? ??????Ž????? ????Ž????? ??? CŽ????? ?Ž?
???????? Ž? ???????? ?????? ??Ž? ??? u????????
?????? ?????? ??? ???? ??? ??? ???? ????
????????
????????? ?????? ???? ????? ?? ?????????
?????????? ?Ž ????? ??????Ž????? ?? Ž? M???? ???
2012.
1?? CŽ????? ??? ???? ? ???? ???????? ??
S???? ÞŽ?? ?Ž ???? Ž? ??? ??????Ž????? ??Ž??
?????? ??? ????? ?????????? A? ??? SL8l ?????????
Ž?????????? ????????? ?????? ??? ?ŽŽ??? ???Ž ?
S??????? A??Ž??? ??? ??? ?Ž??? ?????? Ž? ?????
?????? ????? ?????? ??Ž??? ??? ??? ??????? Ž????
Ž? ???? ?????? ??aims the shares.
?? ??? u????????Ž? Ž? S?????Ž????? ?? Ž? M???? ??? ????
nŽ? Ž? S????? Shareholders nŽ? Ž? ??????
Number ? Number ?
Upto 50 44,423 15.49 11,37,343 0.04
51-100 38,163 13.31 35,37,947 0.13
101-200 59,023 20.59 1,10,89,201 0.42
201-500 52,568 18.34 2,01,20,575 0.76
501-1000 42,278 14.75 3,55,07,529 1.33
1001-2000 24,928 8.69 4,17,45,184 1.57
2001-5000 17,245 6.02 5,77,91,298 2.17
5001-10000 5,265 1.84 3,83,28,996 1.44
????? ? ??Ž?? 2,793 0.97 245,14,18,561 92.14
1Ž??? 2,86,686 100.00 266,06,76,634 100.00
nŽ? Ž? ??????
Þ??????? ? ???????????
L?????Ž??? MŽ??
NSDL - 257,63,65,737
CDSL - 5,10,65,653
AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ANNUAL REPORT 2011-2012 35
???? Þ????? Ž? S?????Ž????? ?? Ž? M???? ??? ????
S? NŽ? C????Ž?? NŽ? Ž? nŽ????? NŽ? Ž? S????? %
1 Þ?Ž?Ž??? ? P?????? A??Ž?Ž??? L???
?l??????? ???????????? ?????? ?? Cu8 lŽ???
1 135,64,37,564 50.98
2 8???????? ?l?????????? ? C??????? M??????? 2,81,351 28,34,68,033 10.65
3 l???????? l??????Ž???l???????? CŽ? ? S????
CŽ????CŽ??? CŽ????????u1l
33 33,98,45,655 12.77
4 lŽ????? l??????Ž??? l?????Ž?? 162 43,15,44,297 16.22
5 nŽ??8??????? l??????? CC8 ? CŽ??Ž????
8Ž???? ? lŽ????? ? 8??? ? lŽ????? ? lŽ?????
n??Ž????
3,374 2,47,17,625 0.93
6 Corporate Bodies 1,673 14,38,52,253 5.41
7 M????? l???? 29 5,12,79,778 1.93
8 Trusts 22 5,60,069 0.02
9 8???? 39 7,53,860 0.03
10 Others - GDR 2 2,82,17,500 1.06
1C1AL 2,86,686 266,06,76,634 100.00
?? u?????????????Ž? Ž? ?????? ??? L????????
S????? Ž? ??? CŽ????? ??? ?? ???? ??? ?????? ?? ??????Ž??? ?Ž??? A? ????????? ?? SL8l? ??? ?????? Ž? ??? CŽ????? ???
???????? ?? ??? S?Ž?? L???????? ?Ž? ???????? Ž??? ?? ?????????????? ?Ž???
S????? Ž? u?????????????Ž? Ž? S????? ? ?? Ž? M???? ??? ????
Þ??????? D???? 1Ž???
Holders nŽ? Ž? S????? ? ?Ž ???????
capital
nŽ? Ž? S?????
????
? ?Ž ???????
capital
nŽ? Ž? S?????
????
? ?Ž ???????
capital
P?????? A??Ž?Ž??? L?????? ???? -- -- 135,64,37,564 50.98 135,64,37,564 50.98
Others 3,32,45,244
?????
1.25 127,09,93,826 47.77 130,42,39,070 49.02
?? ????????? ?? Cu8 lŽ??
??? ???? ?? ?????? ?Ž?????
?Ž?? CŽ????? ?Ž????? ???? ??? ????? Þ?Ž?Ž????? ?Ž?????? ???? ?Ž??????? ???Ž ??????Ž??? ?Ž?? ??? ??? ???? ?? ?? ????
???? ??? ????????? ?????? ?? SL8l?
S????? Ž? ??? CŽ????? ??? ????????? ?????? ?? ??? 8Ž???? ??? n??Ž??? S?Ž?? L????????? ??? ????? ???? ?ŽŽ? ??????????
AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ASHOK LEYLAND LIMITED 36
?? C?????????? Cu8? W??????? ??? CŽ???????? nŽ???? CŽ??????Ž? ???? ??? ?????? ?????? Ž? ??? ??????
nŽ Cu8 ?? Ž?????????? ?? Ž? M???? ??? ???? ?????? ?? ?????? Ž? ???????
Ž? Þ???? LŽ???Ž??
Ennore
k?????????? P??? 8Ž??
L??Ž??
C?????? ??? ???
Tamil Nadu
nŽ??? ? U??? I
??? PŽ??? l???? CŽ?????
Hosur 635 126
Tamil Nadu
nŽ??? ? U??? II
?? L?????Ž??? CŽ?????
Þ??????????? v??????
Hosur 635 109
Tamil Nadu
nŽ??? ? U??? IIA
C?? Þ???? Þ???? S?Ž?
SlÞCC1 l????????? CŽ?????
MŽ???????? ???????
Hosur 635 109
Tamil Nadu
Bhandara
Þ?Ž? nŽ?? MluC l????????? A???
v?????? C?????Ž??
Sakoli Taluk,
8??????? ??? ???
Maharashtra
A????
Plot No.SPL 298
M????? l???? A???
Alwar 301 030
8????????
A??????
3A/A&2 North Phase
S???Ž l????????? L?????
A??????
C?????? ??? ??? 1???? n???
Þ????????
Plot No.1, Sector XII, II E,
Þ???????? ? ??? ???
u?????????
1???????? C?????
v?????Ž??????????
v?? M????? n?? 1Ž??
C?????? ??? ???
Tamil Nadu
p. A?????? ?Ž? CŽ?????Ž??????
1Ž ?Ž????? 8?1A ?Ž? ??? ??????
??????? ?Ž S?????? u????????? A?????
Reports
M?? l????????? L?????????? ?l?????
Limited
2
??
l?ŽŽ?? k????? 1Ž????
?? 8?????????? S?????
nŽ??? u???? 8Ž??
1? n????? C?????? ??? ???
Tel : 91-44 – 2814 0801 / 03
l?? ? ????? ? ????????
?????? ? ?Ž?????????????????????????
lŽ? ??? Ž???? ??????? ?????? Ž? ??
???? Ž? ??? ?????????? ??????????
S?????????? u?????????
A??Ž? L?????? L??????
No.1 Sardar Patel Road
C?????? C?????? ??? ???
Tel. : 91-44-2220 6000
l?? ? ?????????? ????
?????? ? ???????????????Ž??????????Ž?
?Ž?????????????????????????
W?????? ??????? ???????Ž??????????Ž?
L???? lu Ž? l?????Ž? C?????????
S???Ž?
???????????????Ž??????????Ž?
n??? Ž? ??? CŽ???????? C???? A 8 C??????????????
L??????? u?????Ž? ?
CŽ????? S????????
AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ANNUAL REPORT 2011-2012 37
NŽ? ??nd??Ž?? ????????????
?? nŽ??L??????? C???????
1?? CŽ????? ????????? ??? Ž??? Ž? ??? nŽ??
L??????? C??????? ??? ?????????? ???????? ????????
?? ??? ????Ž?????? Ž? ??? ??????
?? nŽ?????Ž? ??? CŽ???????Ž? CŽ??????
1?? CŽ????? ??? ?Ž???????? ? nŽ?????Ž? ???
CŽ???????Ž? CŽ??????? ???? ??????? ??? ?????????
????? l??? ? Ž? ???? 8??Ž???
?? S?????Ž???? 8?????
1?? ?????????? Ž? ????????? ??? ???? ?????? ???????
??? ????? ????????? ?? ??? Þ????? 1?? CŽ????? ???
???? ??????? ??????????? ???Ž??? ?Ž ??????Ž????? ??Ž?
C??Ž??? ????? ??Ž?? ???? ? ????? ??Ž? ??? M???????
u?????Ž? ??????????? ?????????? ???????
4. Postal Ballot
1?? CŽ????? ??? ??? ?Ž Ž?????Ž? ?Ž ??? ??? ?Ž????
????Ž? ?????? ??? ?????
?? W?????? 8?Ž??? ÞŽ????
1?? CŽ????? ?Ž?? ?Ž? ???? ? W?????? 8?Ž??? ÞŽ?????
??? ??? ?? C?????????
CŽ?? Ž? CŽ?????
M?????? Ž? ??? 8Ž??? ??? ??? S???Ž? M?????????? ?????
?? A????? ??? ?? ??? ???? ????????? Ž? ??? CŽ????? ??? ???
stakeholders.
?? A?Ž?? ??? ??????? ????????? Ž? ????Ž??? ???????
?????????? ?Ž??????????? ??? ?????????? ?? ??????? ????
??? ?????? ??????? ?Ž ??? CŽ??????
?? A???? ?????????? ?????????? ??? Ž????????? ??
??????????? ????? ????Ž?????????? ??? ?Ž???????? ?Ž
??? ?Ž????? Ž? ??? ???????? ??? ??? ??Ž????? Ž? ???
CŽ?????? ??? ?Ž? ?? ???Ž?????? ?????????Ž???? ????
?Ž?????? Ž????????Ž?? ?????? ?? ? u?????Ž? Ž? ?? ???
?????????? Ž? ?????Ž?? ????????? ????Ž?? ??? ???Ž?
????Ž??? Ž? ??? 8Ž????
?? A????? ?????? ??? ?Ž??Ž?? ?Ž ??? ????Ž?? ??????Ž??
??? ??????Ž?? ???????Ž????????????? ?????????? ?Ž
??? Ž?????Ž?? Ž? ??? CŽ?????? ??Ž????? ??Ž???Ž?? Ž?
?Ž???Ž??Ž???????
?? nŽ? ?????? ????Ž??? ?????? Ž? ????? ??????????
????????? Ž? Ž????????? ?? ?????? Ž? ????? ?Ž???Ž? Ž?
?????Ž????? ???? ??? CŽ?????? ??? ?Ž? ???? ????Ž??
?? ????? ??Ž?? ?Ž??? ???????????? ?? ????? ????????
???? ??? CŽ?????
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Director.
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AnnLxu8L ? 8 1C ul8LC1C8S? 8LÞC81
REPORT ON CORPORATE GOVERNANCE
ASHOK LEYLAND LIMITED 38
1Ž ??? M?????? Ž? A??Ž? L?????? L??????
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Directors.
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CŽ???????? ?? ??? ????Ž????????? Ž? ??? ???????????
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Auul1C8S? CL81lllCA1L Cn CCMÞLlAnCL Wl1P 1PL
CONDITIONS OF CORPORATE GOVERNANCE UNDER CLAUSE
49 OF THE LISTING AGREEMENTS
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ANNUAL REPORT 2011-2012 39
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MANAGEMENT DISCUSSION AND ANALYSIS REPORT
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ASHOK LEYLAND LIMITED 40
AnnLxu8L?u 1C ul8LC1C8S? 8LÞC81
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
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MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ASHOK LEYLAND LIMITED 42
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AnnLxu8L?u 1C ul8LC1C8S? 8LÞC81
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ANNUAL REPORT 2011-2012 43
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AnnLxu8L?u 1C ul8LC1C8S? 8LÞC81
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ASHOK LEYLAND LIMITED 44
D? I??????? CŽ???Ž? S?????? ??? ????? A????????
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I??Ž????Ž? S??????? ??? IÞk ??Ž????Ž? ?????????
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Rs.Cr
2011-12 2010-11 I???
(Dec) %
INCOME
S???? ???? Ž? ?????? ????? 12,841.99 11,177.11 14.90
C???? l??Ž?? 40.35 44.45 ??????
1Ž??? 12,882.34 11,221.56 14.80
EXPENDITURE
Material cost 9,461.84 8,172.65 15.77
L???Ž??? ???????? 1,020.39 959.72 6.32
C???? ???????? 1,103.66 831.04 32.80
u????????Ž? 352.81 267.43 31.93
l???????? ???????? 255.25 188.92 35.11
1Ž??? 12,193.96 10,419.76 17.03
Þ?Ž?? ???Ž?? ??????Ž???
items
688.38 801.80 ???????
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1.60
Þ?Ž?? ???Ž?? ??? 689.98 801.80 ???????
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AnnLxu8L?u 1C ul8LC1C8S? 8LÞC81
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ANNUAL REPORT 2011-2012 45
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Rs.Cr
31.03.2012 31.03.2011 I???
(Dec) %
SCUkCLS CI IUNDS
S?????Ž?????? ????? 4,208.17 3,962.96 6.19
nŽ??C?????? ?????????? 2,863.87 2,870.48 ??????
C?????? ?????????? 4,843.70 3,759.87 28.83
1Ž??? 11,915.75 10,593.31 12.48
AÞÞLICA1ICN CI IUNDS
nŽ??C?????? ??????
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- Others 2,150.15 1,617.79 32.91
C?????? ?????? 4,303.89 3,983.77 8.04
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u??????
AnnLxu8L?u 1C ul8LC1C8S? 8LÞC81
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ASHOK LEYLAND LIMITED 46
n?? C?????? A????? ?? ?? M???? ??? ???? ??? 8?? ?????
C?? ?Ž?????? ???? ?????Ž?? ???? ????? Ž? 8??????? C??
S?Ž?? ???? ?Ž??? ??? ???????? ????????? ?? 8????? C??
l?????Ž???? ????????? ?Ž 8??????? C?? ?? ?? M???? ??? ????
?Ž?????? ?Ž 8??????? C?? ?? ?? M???? ??? ???? ?????? ???
?Ž ???????? ?? ??????? ???????? ??? ??Ž????Ž? ??????Ž???
1???? 8?????????? ????????? ?Ž 8??????? C?? ?? ?? ????
M???? ???? ??Ž? 8??????? C?? ?? Ž? ???? M???? ????
?????? ??? ?Ž ?????? ????? Ž? ????? ?Ž ??????? ?????????????
?v?????? l???Ž??? !???????? ??? ???? ??Ž? S???? 1?????Ž??
u????????????
L????????
?Ž?? CŽ????? ?Ž?????? ???? ??? ?C??? ??? C????? ??????
Ž? ????? ?????? ??? ???? ????? ??? ???? ??????? ????? M??
????? 1??? ??? ??????? ?Ž?? CŽ????? ?Ž ????? ??????
??? ????????? ????????? ????????????? u????? ??? ????? ?Ž??
CŽ????? ?????? LC8 ?Ž?? Ž? uSu ??? M????Ž? ??? ??????
nCu? ?Ž ??? ???? Ž? 8????? C?? ?Ž ??????? ???? ?Ž?? nCu?
????? ??? ??????? ?? ? ???? ???? ????? ?????? ???????
Ž? ?????? ???Ž????? ??Ž?????? ??? ?Ž????? ???????
1???? ????? ???? ??????? ?Ž? ??????? ??????????? ???
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?Ž?????? ?Ž???Ž???? Ž? ???? ?Ž?? ??? ??????? ?????? ?? ????
??? ????????? ?????? ?? ????? Ž? ?????? ????? ??? ?? ????
deposits.
Þ?Ž?????????
?Ž?? CŽ????? ??Ž????????? ????Ž??? ????????? ?????? ???
???? ?? ? ?????? Ž? ?????? ?Ž????? ?? ??? ?Ž?? ?????????
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????????? ?Ž????? ??Ž? Þ???????? ????????????? ?????????
?Ž?? CŽ????? ??????? ?Ž ???Ž??? ???Ž? ?Ž??Ž? Ž?
???????? ?Ž?? ????????? ?????Ž??? ?Ž ??? ????????? ???Ž???
???????? ???? ????Ž???? ???????? ?Ž?? CŽ????? ???????
??? ?Ž??Ž???? ????? ????? ?Ž?? ????????? ?????? ??? ????
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Þ????????? ?Ž?? CŽ??????? ????? ???? ???? ????? ?? C8lSlL
??? lC8A?
1?? ????? ???????? ???? ???????? ?Ž?? CŽ???????
?????? ???? ? ?????? Ž???ŽŽ??
A????? LŽ?? 1??? S?Ž?? 1??? LŽ??
CRISIL AA? ??????? Ž???ŽŽ?? Þ?? ??????????
ICRA AA? ??????? Ž???ŽŽ?? A?? ??????????
k?????? Ž? C?????Ž??
?Ž?? CŽ????? ????????? ?? ???? ??? ???? ??Ž?? ??Ž?
Ž?????Ž?? Ž? 8??????? C?? A??? ?????? ?Ž ??? ?Ž?????
??????? ????????????? ?Ž?? CŽ????? ?????????? ? ??? ????
???Ž? Ž? 8??????? C?? ??Ž? ??? Ž?????Ž???
C??? Ž???Ž? ?Ž? ????????Ž? Ž? ?????? ??? ????????
???????? ?Ž? ??????? ??Ž????? ?Ž 8??????? C?? ?? ???????
Ž???Ž? Ž? 8????? C?? ?? ???????? l???? ?Ž??? ?Ž? 8????? C??
???? ?????? ?Ž ???? ????? ?????????
Þ?Ž?? ???Ž?? ??? ??? ??????Ž??? ????? ??? 8????? C??
?Ž?? CŽ????? ?Ž?? ? ?Ž??Ž? Ž? ??? ?Ž?????? ?? A??? A??Ž?
L?????? MŽ?Ž?? ????Ž? P?????? L?????? l?????? L?????? ???
u?????? 1????Ž?Ž???? L?????? ??? ?ŽŽ??? ? ??? ??Ž?? Ž?
8?????? C?? ????? ?? ???Ž?????? ?? ?? ??????Ž??? ???? ??
??? S???????? Ž? Þ?Ž?? ??? LŽ???
A??? ??Ž?????? ?Ž? ????? ?? 8????? C?? ????????? ????????
???? Þ?Ž?? ???? ??? ?Ž? ??? ??????? ???? ?? 8????? C?? 1??
???????? ??? ????? ????????? ?? ??? ??Ž? 8?????? ?? ?????
?? ?Ž 8?????? ?? ??? ???? ????? ???????
Dividend
1?? u?????Ž?? ???? ???Ž??????? ???? ???????? ?Ž? ???
???? ???????? ?????????? ?Ž 8??? ??? ??????
CASn ILCW S1A1LMLN1
Rs.Cr
2011-12 2010-11
Þ?Ž?? ??Ž? Ž?????Ž?? ???? ??? 1,095.22 1,082.80
?l??? ? u?? ?? n?? ?Ž????? C?????? 21.84 ????????
n?? ???? ?Ž? ??Ž? Ž??????? ???????? 1,117.06 591.38
Þ?????? ?Ž? ?????????Ž? Ž? ?????? ? ??? (690.63) ????????
C??? Ž?? ?Ž? ?Ž? ???????? ???????? (366.89) ????????
C??? ?Ž? ??Ž? ???????? ???????? (210.87) ???????
n?? ???? ???Ž? ? ?Ž????Ž?? (151.33) ????????
1?? ¥??? A????
u?????? ??? ?????????? ???Ž?? ???? ????? ?? ??? ??Ž?Ž???
?????Ž????? ???? ?Ž??? ?????? ??? ?????? ?Ž? ?Ž????????
????????? ??? ?????? ?? ???????? ?Ž ??? ????Ž????? ??Ž???
?? l??????????? ??? L???? CŽ???????? v????????
?Ž?? CŽ????? ???? ?Ž??? ?Ž ??????? ?Ž??Ž?????? ???
Ž?????Ž?? ?? ???????? 1?? ?????????? ?????? Ž? ?uŽ??? ???
??? 8????Ž? ?Ž???? ???Ž??? !Ž??? v??????? ?? ??????? ???
???????? ??? ????? Ž? ??Ž???? Ž???????? 1?? Þ????????
????? ???? ?? ??????? ?? ?Ž ???? ????????? 1?? ?????? Ž? ???
?Ž???? ?? ??? ?????Ž? ??? ????? ???????? ?? ??? ???Ž??
???? Ž? ??????? ???? ???? ?Ž?? CŽ????? ?? ?ŽŽ? ????? ?Ž
???? ??? ?????? ???????????? Ž? ???? ?????
AnnLxu8L?u 1C ul8LC1C8S? 8LÞC81
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ANNUAL REPORT 2011-2012 47
AnnLxu8L?L 1C ul8LC1C8S? 8LÞC81
DIRECTORS’ RESPONSIBILITY STATEMENT
AS ÞL8 SLC1lCn ?????AA? Cl 1PL CCMÞAnlLS AC1? ????
k???Ž????????? ?? ?????Ž? ?Ž ???????? ??????????
1?? ???????? ?????????? ???? ???? ???????? ?? ?Ž??Ž??????
?? ??? ???????? ????????? ???? ??? C???????? A???????
A??Ž????? Þ????????? ?? l???? ??? ??? A??Ž????? S????????
?????????? ?? ??? l??????? Ž? C???????? A??Ž??????? Ž?
l???? ?? ? ?Ž???????? ?????? ??? ????Ž???? ?? ????Ž?????
??? ??????? ?????????? ??? ????????? 1?? u?????Ž??
??????? ???? ??? ???????? ?????????? ?????? ???? ??? ????
???? Ž? ??? ???????? ?Ž???Ž? ?? Ž? ????????? ??? Ž? ???
??????? Ž? Ž?????Ž?? ?Ž? ??? ???? ????? ??????????
1?? ???????? ?????????? ???? ???? ??????? ?? M?? M?S?
k??????????? ? 8???? ??? M?? u??Ž??? P?????? ? S???? ??
???Ž?????? ???? ????????? ???????? ??????? ??????????
????? ??????? ?? ?????????? Ž? ??? ??????? Ž? ????????
?Ž???Ž?? ??? ????? Ž? ????????Ž?? ?Ž ??? ?????? ?Ž????????
????????? ?? ???? ?Ž ????Ž?? ????? Ž????Ž??
GŽ??? CŽ?????
l? ??? Ž????Ž? Ž? ??? u?????Ž??? ??? CŽ????? ???? ?? ??
? ?Ž???Ž? ?Ž ????? Ž? ??? ??????? ?Ž???????? ?????????
??????? ???????? ??? ???Ž??????? ?? ?? ?Ž????????
????Ž?????? ?Ž ??????? ??? ???????? ?????????? Ž? ???
????? Ž? ?Ž??? ?Ž??????
M?????????? Ž? ???Ž????? ???Ž???? I??????? ?Ž???Ž?? ???
compliances
?Ž?? CŽ????? ??? ????? ??Ž??? ??? ???????? ???? ?Ž? ???
??????????? Ž? ???????? ???Ž????? ???Ž??? ?? ????????
?? ????Ž?? S????????
u?????Ž?? ???? Ž?????? ????Ž????????? ?Ž? ??? CŽ???????
???????? ?Ž???Ž? ??????? ????? ?? ???????? ?Ž ??Ž???? ?
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Ž? ???????? ???Ž??? ??? ?Ž? ????????? ??? ???????? ?????
??? Ž???? ??????????????
1?? ?????? Ž? ???????? ?Ž???Ž? ?? ?Ž???Ž??? ?? ??? ????????
????? ?????Ž?? ????? ???Ž??????? ??? ????????Ž? ???
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Ž? ???????? ?Ž???Ž? ??? ??????? Ž? ????Ž?????? ?? ????????
Ž?? ???????? ????Ž??????????? l??????? A???? u?????????
????????? ???? ??? ?????? Ž? ?????????? ??? ??? S?????Ž??
A????Ž??? ??? ???Ž??? ?????????? ?????? ?Ž ??? A????
CŽ?????? Ž? ??? 8Ž????
1?? A???? CŽ?????? ?????????? ??? ???????? ???Ž????
??Ž???? ???Ž??? ??? ?????? Ž? ???Ž????? ??? ???Ž????
????????? ???????? ??? ???Ž????? ?Ž???Ž?? ??? ????????
??????????? 1?? A???? CŽ?????? ???Ž ????Ž??????? ?????????
???? l??????? ??? S?????Ž?? A????Ž?? ?Ž ?????? ??????? ???
???????? Ž? ?Ž?? CŽ??????? l???????? S??????????
l??????? A????Ž??? ??? A???? CŽ?????? ??? S?????Ž??
A????Ž?? ???? ???? ??? ???? ?????? ?Ž ??? ??? ???Ž????Ž?
??? ???Ž??? ?? ?Ž???????? ????????? ?Ž ????? Ž?? ?????
????Ž??????????? A?? ??? ?????? ?????? ?? ???? ???? ????
???????? ????? ??Ž? ??? ?Ž??Ž??? ???
Þ?Ž??? ??????? ??? ?? ????? ?Ž ?????? ?Ž???????? Ž? ???
???? ?????????? ?Ž ??? CŽ??????
ASHOK LEYLAND LIMITED 48
AnnLxu8L?C 1C ul8LC1C8S? 8LÞC81
CERTIFICATION BY MANAGING DIRECTOR
AND CHIEF FINANCIAL OFFICER TO THE BOARD
W?? v??Ž? k u?????? M??????? u?????Ž? ??? k S?????????
C???? l???????? C???? Ž? A??Ž? L?????? L??????? ??????
that:
?? W? ???? ???????? ??? ???????? ?????????? ?Ž? ???
???? ??? ???? ?Ž ??? ???? Ž? Ž?? ??Ž?????? ??? ???????
?? ????? ?????????? ?Ž ?Ž? ?Ž????? ??? ??????????
?????? ????????? Ž? Ž??? ??? ???????? ???? Ž?
?Ž????? ?????????? ???? ????? ?? ???????????
?? ????? ?????????? ??????? ? ???? ??? ???? ???? Ž?
??? ????? Ž? ?????? Ž? ??? CŽ????? ??? Ž? ???
??????? Ž? Ž?????Ž?? ??? ???? ?Ž??? 1?? ????????
?????????? ???? ???? ???????? ?? ?Ž??Ž?????? ??
??? ???????? ????????? ???? ??? ??????? C????????
A??????? A??Ž????? Þ????????? ?????????
A??Ž????? S????????? ?????????? ???? ???
???????Ž???
?? 1???? ???? ?Ž ??? ???? Ž? Ž?? ??Ž?????? ??? ??????? ?Ž
????????Ž?? ??????? ???Ž ?? ??? CŽ????? ?????? ???
???? ????? ??? ??????????? ??????? Ž? ??Ž????? Ž? ???
CŽ??????? ?Ž?? Ž? ?Ž??????
?? W? ?????? Ž?????? ????Ž????????? ?Ž? ???????????? ???
?Ž???Ž???? ??? CŽ??????? ???????? ?Ž???Ž? ?????? ?Ž?
???????? ???Ž???? ??? ????????? ??? ????????????
l??????? A???? ?????Ž? ?Ž???Ž?? ??? ???????? ?Ž???Ž?
?????? ?Ž? ???????? ???Ž????? ????? ???Ž???????
??? ????????Ž? ??? ???????Ž? Ž? ??? ???????? ???
???????????? l??????? A???? ?Ž??? ???? ??? ?????? Ž?
?????????? ??? S?????Ž?? A????Ž??? ??? ???Ž???
?????????? ?????? ?Ž ??? A???? CŽ?????? Ž? ??? 8Ž????
1?? S?????Ž?? A????Ž?? ??? A???? CŽ?????? ???
????????? Ž? ??? ?Ž??????? ???Ž? ????? Ž? ??Ž?Ž???
?Ž ?? ????? ???? ?????? ?Ž ?????????? ??????????? ???
???????? ???????????
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CŽ???????
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???????? ???Ž???? ?????? ??? ?????
?? ?????????? ??????? ?? ???Ž????? ?Ž?????? ??????
??? ?????
?? ????????? Ž? ?????????? ????? Ž? ????? ?? ????
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?? ??? CŽ??????? ???????? ?Ž???Ž? ?????? Ž???
???????? ???Ž????? PŽ?????? ????? ??? ?Ž ????
?????????
M?? ??? ???? v??Ž? k u????? k S????????
C?????? Managing Director c???? l???????? O????
ANNUAL REPORT 2011-2012 49
AUDITORS’ REPORT TO THE MEMBERS
OF ASHOK LEYLAND LIMITED
?? W? ???? ??????? ??? ??????? 8?????? S???? Ž?
ASnCk LL¥LAND LIMI1LD ????? CŽ??????? ??
?? M???? ??? ????? ??? S???????? Ž? Þ?Ž?? ??? LŽ??
??? ??? C??? l?Ž? S???????? ?Ž? ??? ???? ????? Ž?
???? ????? ?Ž?? ??????? ??????Ž? ??Ž????????? ????????
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????????? ?Ž ???? ???Ž??? 1???? ???????? ??????????
??? ??? ????Ž????????? Ž? ??? CŽ??????? ???????????
C?? ????Ž????????? ?? ?Ž ??????? ?? Ž????Ž? Ž? ?????
???????? ?????????? ????? Ž? Ž?? ??????
?? W? ?Ž??????? Ž?? ????? ?? ???Ž?????? ???? ???????
??? ????????? ????????? ????????? ???????? ?? l?????
1?Ž?? ????????? ??????? ???? ?? ???? ??? ????Ž??
??? ????? ?Ž Ž????? ????Ž????? ????????? ??Ž??
??????? ??? ???????? ?????????? ??? ???? Ž? ????????
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?? A? ???????? ?? ??? CŽ??????? ?A????Ž??? 8??Ž???
C????? ???? ?????? ?? ??? C?????? CŽ???????? ??
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????? ?? ????Ž?? ?? ??? A??????? ? ????????? Ž? ???
?????? ???????? ?? ?????????? ? ??? ? Ž? ??? ????
Order.
?? l?????? ?Ž Ž?? ?Ž?????? ?? ??? A??????? ???????? ?Ž
?? ????????? ? ??Ž??? ?? ???Ž?? ?? ?Ž??Ž???
?? ?? ???? Ž??????? ??? ??? ???Ž????Ž? ???
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??? ??????? ???? ????????? ?Ž? ??? ????Ž??? Ž?
our audit.
?? ?? Ž?? Ž????Ž?? ??Ž??? ?ŽŽ?? Ž? ???Ž???? ??
???????? ?? ???? ???? ???? ???? ?? ??? CŽ?????
?Ž ??? ?? ??????? ??Ž? Ž?? ????????Ž? Ž? ??Ž??
books.
?? ??? ???????? ?????????? ????? ???? ?? ???? ???Ž??
??? ?? ????????? ???? ??? ?ŽŽ?? Ž? ???Ž????
?? ?? Ž?? Ž????Ž?? ??? ??Ž?????? ???????? ??????????
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A??Ž????? S???????? ???????? ?Ž ?? S???Ž?
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?? ?? Ž?? Ž????Ž? ??? ?Ž ??? ???? Ž? Ž?? ???Ž????Ž?
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S???????? Ž? S????????? A??Ž????? ÞŽ??????
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Ž? ?????? Ž? ??? CŽ????? ?? ?? M???? ???
?????
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LŽ??? Ž? ??? ??Ž?? ?Ž? ??? ???? ????? Ž? ????
????? ???
????? ?? ??? ???? Ž? ??? C??? l?Ž? S????????? Ž?
??? ???? ?Ž?? ?Ž? ??? ???? ????? Ž? ????
date.
?? C? ??? ????? Ž? ?????? ???????????Ž?? ????????
??Ž? ??? u?????Ž?? ?? Ž? M???? ??? ????? ??? ?????
Ž? ???Ž?? ?? ??? 8Ž??? Ž? u?????Ž??? ?? ???Ž?? ????
?Ž?? Ž? ??? u?????Ž?? ?? ????? ????? ??????????? ?? Ž?
M???? ??? ???? ??Ž? ????? ???Ž????? ?? ? ??????Ž? ??
????? Ž? S???Ž? ????????? Ž? ??? A???
For M?S? k8lSPnASWAMl ? 8A!An For DELOITTE HASKINS & SELLS
C???????? A??Ž??????? C???????? A??Ž???????
8????????Ž? nŽ? ?????S 8????????Ž? nŽ? ??????W
M?k? 8A!An R. LAXMINARAYAN
Þ?????? Þ??????
Membership No.4059 Membership No.33023
M?? ??? ????
C??????
ASHOK LEYLAND LIMITED 50
A? ???????? ?? ??? CŽ??????? ?A????Ž??? 8??Ž??? C?????
???? ?CA8C? ?????? ?? ??? CŽ???????? Ž? l???? ?? ?????
Ž? S???Ž? ?????A? Ž? ??? CŽ??????? A??? ????? ??? Ž?
??? ????? Ž? ???? ?????? ?? ?? ?Ž???????? ????Ž?????? ???
???Ž????? ?Ž ??? ???Ž????Ž? ??? ????????Ž?? ????? ?Ž ???
we report that:
?? ??? ??? CŽ????? ?? ??????????? ??Ž??? ???Ž???
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?Ž ??? ?????? ??? ????? Ž? ??? ??????? PŽ??????
?Ž ???????? ????????????? ???? ???? ?Ž???? Ž?
???? ????????Ž??
????? ??? CŽ????? ??? ?Ž? ????Ž??? Ž? ??????????
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S???Ž? ??? Ž? ??? A???
?? ????? ?? ?? ???????? ???????? ?Ž???Ž? ??????
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??????Ž?? ??? ???? ?????? ??? ?Ž? ???? Ž? ?ŽŽ?? ???
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Ž? ??? ?ŽŽ?? ??? ???Ž??? Ž? ??? CŽ?????? ?? ????
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?? ?? ?? Ž?? Ž????Ž? ??? ?Ž ??? ???? Ž? Ž?? ??Ž??????
??? ??????? ??? ?????????? Ž? ?Ž??????? Ž?
ANNEXURE TO THE AUDITORS’ REPORT
k??????? ?Ž ?? ????????? ? Ž? Ž?? ???Ž?? Ž? ???? ???? Ž? ??? ???Ž???? ?Ž? ??? ???? ????? M???? ??? ????
Ž? A??Ž? L?????? L???????
???????????? ???????? ?Ž S???Ž? ??? ????
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?????? ?Ž ????? ??? ????????? ?????? ?? ??? 8??????
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??? CŽ??????? ?A????????? Ž? u??Ž???? 8????? ????
??????
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?? ??? CŽ????? ???????? ?Ž ??? CŽ??????? ?CŽ??
A??Ž????? 8??Ž???? 8????? ???? ?????????? ?? ???
C?????? CŽ???????? ????? S???Ž? ????????? Ž? ???
CŽ??????? A??? ???? ??? ??? Ž? ??? Ž????Ž? ????
????? ????? ??? ?????????? ?Ž?? ???Ž??? ???? ????
???? ??? ??????????? W? ????? ?Ž?????? ?Ž? ????
? ???????? ????????Ž? Ž? ??? ?Ž?? ???Ž??? ???? ? ????
?Ž ????????? ??????? ???? ??? ???????? Ž? ?Ž???????
?? ??? ??? CŽ????? ?? ????????? ??????? ?? ???Ž?????
?????????? ??????Ž?? ???? ????????? ??Ž??????
????? ??????Ž? ??????Ž? ??? ??Ž????Ž? ?????
????Ž????? ????? ?????????? ???Ž?? ???? ????? ????
?????? ???? ??????? ???? ????Ž?? ????? ?????? ?????
???? ??? Ž???? ???????? ??????Ž?? ???? ??
?????????? ???? ??? ????Ž?????? ????Ž?????
?????? ??? ?????
???? ?Ž ?????????? ??Ž???? ??????? ?? ??????? Ž?
???Ž?? ???? ?????? ???? ????? ???? ????Ž?? ?????
?????? ???? ??? ???? ???? ?? ???????? ?? ?? ???
??????? ????? ???? ?Ž? ? ????Ž? Ž? ?Ž?? ???? ???
?Ž???? ??Ž? ??? ???? ???? ?????? ????????
????? ????? ??? ?Ž ???? Ž? ???Ž?? ???? ?????????? ???
????Ž?? ???? ????? ???? ?Ž? ???? ???Ž????? Ž?
???Ž??? Ž? ??? ???????? u?????? Ž? ???? ?Ž?????
????? ???? ?????? ????? ??????? ??? ??? ???? ????
ANNUAL REPORT 2011-2012 51
ANNEXURE TO THE AUDITORS’ REPORT
k??????? ?Ž ?? ????????? ? Ž? Ž?? ???Ž?? Ž? ???? ???? Ž? ??? ???Ž???? ?Ž? ??? ???? ????? M???? ??? ????
Ž? A??Ž? L?????? L???????
???? ?Ž? ???? ???Ž????? Ž? ???Ž??? Ž? ???????
are as stated below:
` Lakhs
N????? Ž?
dues
Dues Þ???Ž? ?Ž
????? ???
??Ž???
???????
Forum
????? ???
??????? ??
pending
A?Ž???
??????
?Ž?
included
in dues
S???? 1?? 2,224.33 Various
periods
??Ž?
1993-2010
Appellate
u????? ?
A????Ž???
Commis-
??Ž???
2,846.88
35.84 Various
periods
??Ž?
1987-2007
1??????? 204.30
- Various
periods
??Ž?
1986-2001
P??? CŽ??? 49.09
L?????
u????
??? ????
?????Ž?
26.78 Various
periods
??Ž?
2008-2011
Commis-
??Ž??? Ž?
C??????
L????? ?A?-
??????
-
1,415.09 1???????
?CLS1A1?
4.88
S?????? ???
??? ????
?????Ž?
51.62 Various
periods
??Ž?
2009-2011
1???????
?CLS1A1?
-
- Various
periods
??Ž?
2006-2009
1???????
?CLS1A1?
230.31
l??Ž??
1??
- 2005-06
???
2007-2008
Commis-
??Ž??? Ž?
l??Ž?? 1??
?A???????
8,045.47
??? ??? CŽ????? ?Ž?? ?Ž? ???? ??? ??????????? ?Ž????
?? ?? M???? ??? ???? ??? ??? ?Ž? ???????? ??? ????
?Ž???? ?? ??? ???????? ???? ????? Ž? ???? ???? Ž? ??
??? ??????????? ????????? ???????? ?????
11. the Compa?? ??? ?Ž? ????????? ?? ????????? Ž? ????
?Ž ??? ???????? ???????Ž?? ???? Ž? ????????? ?Ž?????
?????? ??? ?????
??? ??? CŽ????? ??? ?????????? ???????? ?Ž???????
??? ???Ž??? ????? ?? ??? ??????? ?Ž??? ??? ????????
Ž? ??? ????? Ž? ???????? ?? ??? Ž? ?????? Ž? ???????
?????????? ??? Ž???? ??????????
??? ??? ??Ž????Ž?? Ž? ??? ??????? ??????? ?????????? ?Ž ?
???? ????? ????? Ž? ?????? ?????? ???? ? ?Ž?????? ???
?Ž? ?????????? ?Ž ??? CŽ??????
??? ??? CŽ????? ?? ?Ž? ??????? Ž? ??????? ?? ???????
?????????? ?????????? ??? Ž???? ????????????
A??Ž??????? ??? ??Ž????Ž?? Ž? C????? ?????? Ž? ???
CA8C ??? ?Ž? ?????????? ?Ž ??? CŽ??????
??? ??? ????? ??? ?Ž????Ž?? Ž? ?????????? ????? ??????
??? ???? ?? ??? CŽ?????? ?Ž? ?Ž??? ????? ?? Ž?????
??Ž? ????? Ž? ???????? ???????Ž??? ??? ?Ž? ?????
????? ??????????? ?Ž ??? ???????? Ž? ??? CŽ??????
??? ??? ???? ?Ž??? ??????? ?? ??? CŽ????? ???? ?????
?????? ??????? ?Ž? ??? ????Ž?? ?Ž? ????? ???? ????
Ž????????
??? Ž? ?? Ž?????? ????????Ž? Ž? ??? ???????? ??????????
Ž? ??? CŽ?????? ????? ?????? Ž? ??Ž??????? ????? ?????
????? ?????? ?Ž? ???? ???? ?Ž? ?Ž??????? ???????????
??? ??? CŽ????? ??? ?Ž? ???? ??? ??????????? ???Ž?????
Ž? ?????? ?????? ??? ???? ?Ž ??? ??????
??? ??? CŽ????? ??? ??????? ????????? ? ??????? ??
??????? Ž? ?????????? ?????? ??? Ž???????????
??? ??? CŽ????? ??? ?Ž? ?????? ??? ?Ž??? ?? ??????
?????? ?????? ??? ?????
??? ?Ž????????? ??? ???? ??? ?????? Ž? ??? CŽ???????
Ž?????Ž??? ?Ž ????? Ž? ???????? ??????????? Ž? Ž? ?? ???
CŽ????? ??? ???? ?Ž???? Ž? ???Ž???? ?????? ??? ?????
For M?S? k8lSPnASWAMl ? 8A!An For DELOITTE HASKINS & SELLS
C???????? A??Ž??????? C???????? A??Ž???????
8????????Ž? nŽ? ?????S 8????????Ž? nŽ? ??????W
M?k? 8A!An R. LAXMINARAYAN
Þ?????? Þ??????
Membership No.4059 Membership No.33023
M?? ??? ????
C??????
ASHOK LEYLAND LIMITED 52
Þ????????? Note No. As at March 31, 2012 As at March 31, 2011
` Lakhs ` Lakhs ` Lakhs
LÇUI1¥ AND LIA8ILI1ILS
S?????Ž?????? ?????
Share capital 1.1 26,606.80 13,303.42
8??????? ??? ??????? 1.2 394,210.55 382,992.79
420,817.35 396,296.21
NŽ????????? ??????????
LŽ??????? ?Ž??Ž????? 1.3 229,335.11 234,812.83
u??????? ??? ?????????? ?n??? 1.4 49,036.69 44,388.69
C???? ?Ž?? ???? ?????????? 1.5 359.03 -
LŽ??????? ??Ž????Ž?? 1.6 7,656.30 7,846.35
286,387.13 287,047.87
C?????? ??????????
S?Ž??????? ?Ž??Ž????? 1.7 10,175.00 -
1???? ???????? 1.8 277,246.10 230,850.67
C???? ??????? ?????????? 1.9 154,911.69 103,442.24
S?Ž??????? ??Ž????Ž?? 1.10 42,037.44 41,694.46
484,370.23 375,987.37
1C1AL 1,191,574.71 1,059,331.45
ASSETS
NŽ????????? ??????
l???? ??????
1??????? ?????? 1.11 456,571.25 434,438.04
l????????? ?????? 1.12 34,778.16 28,941.13
C?????? ?Ž????????Ž????? 1.11 43,519.06 20,070.09
l????????? ?????? ????? ?????Ž????? 1.12 11,303.03 15,726.52
546,171.50 499,175.78
nŽ????????? ??????????? 1.13 153,447.89 122,999.68
LŽ??????? ?Ž??? ??? ???????? 1.14 60,823.95 38,463.03
C???? ?Ž????????? ?????? 1.15 742.74 315.79
761,186.08 660,954.28
C?????? ??????
l?????Ž???? 1.16 223,062.52 220,890.34
1???? ??????????? 1.17 123,024.79 116,449.82
C??? ??? ???? ??????????? 1.18 3,255.58 17,952.72
S?Ž??????? ?Ž??? ??? ???????? 1.19 72,709.06 33,439.42
C???? ??????? ?????? 1.20 8,336.68 9,644.87
430,388.63 398,377.17
1C1AL 1,191,574.71 1,059,331.45
S???????? Ž? S????????? A??Ž????? ÞŽ?????? ??? nŽ??? ?Ž ???
l???????? S????????? ??? ?? ???????? ???? Ž? ???? 8?????? S?????
BALANCE SHEET AS AT MARCH 31, 2012
lŽ? ??? Ž? ?????? Ž? ??? 8Ž???
K.SRIDHARAN
c???? l???????? O????
A.R. CHANDRASEKHARAN uPLL8A! C Plnuu!A R SESHASAYEE VINOD K DASARI
í??????? u?????Ž? ? cŽ????? 5???????? c??????? í??????? v??? c??????? Managing Director
1??? ?? ??? 8?????? S???? ???????? ?Ž ?? Ž?? 8??Ž?? Ž? ???? ?????
lŽ? M?S? k8lSPnASWAMl ? 8A!An For DELOITTE HASKINS & SELLS
Chartered Accountants Chartered Accountants
M?k? 8A!An R.LAXMINARAYAN
Partner Partner
M?? ??? ????
C??????
ANNUAL REPORT 2011-2012 53
Þ????????? Note No. ???? L???? M???? ??? ???? ???? L???? M???? ??? ????
` Lakhs ` Lakhs ` Lakhs
I??Ž??
8?????? ??Ž? Ž?????Ž?? 2.1 1,365,847.17 1,215,300.39
L???? L????? u??? 81,647.85 97,589.78
8?????? ??Ž? Ž?????Ž?? ?n??? 1,284,199.32 1,117,710.61
C???? ???Ž?? 2.2 4,035.03 4,445.14
1Ž??? k?????? 1,288,234.35 1,122,155.75
L???????
CŽ?? Ž? ????????? ?Ž?????? 2.3 912,148.33 806,450.03
Þ???????? Ž? S?Ž??????1???? ? 1????? ?ŽŽ?? 2.4 50,737.37 27,336.97
C?????? ?? ??????Ž???? Ž? ??????? ?ŽŽ???
?Ž????????Ž????? ??? S?Ž??????1???? 2.5 ??????????? ???????????
946,184.40 817,264.60
L???Ž??? ??????? ???????? 2.6 102,039.42 95,971.63
l?????? ?Ž??? 2.7 25,525.32 18,892.34
u????????Ž? ??? ??Ž?????Ž? ???????? 2.8 35,281.32 26,743.10
C???? ???????? 2.9 110,366.01 83,104.15
1Ž??? L??????? 1,219,396.47 1,041,975.82
Þ?Ž?? ???Ž?? ??????Ž??? ????? ??? ??? 68,837.88 80,179.93
L?????Ž??? ?????
Þ?Ž?? Ž? ????Ž??? Ž? ?Ž????????? ??????????? ? ??? 2.10 159.78 -
Þ?Ž?? ???Ž?? ??? 68,997.66 80,179.93
1?? ???????
C?????? ??? ?8???? nŽ?? ???? ?Ž ??? l????????
S?????????? 7,752.00 11,115.00
u??????? ??? 4,648.00 5,935.00
12,400.00 17,050.00
Þ?Ž?? ?Ž? ??? ???? ??Ž? ?Ž??????? Ž?????Ž?? 56,597.66 63,129.93
L??????? ??? ?????? ????? ?l??? ????? 8???? ? 8????
??? u?????? ??? 8???
2.13 2.37
?8???? nŽ?? ??? ?Ž ??? l???????? S??????????
S???????? Ž? S????????? A??Ž????? ÞŽ?????? ??? nŽ??? ?Ž ???
l???????? S????????? ??? ?? ???????? ???? Ž? ???? S???????? Ž?
Þ?Ž?? ??? LŽ???
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED
MARCH 31, 2012
lŽ? ??? Ž? ?????? Ž? ??? 8Ž???
K.SRIDHARAN
c???? l???????? O????
A.R. CHANDRASEKHARAN uPLL8A! C Plnuu!A R SESHASAYEE VINOD K DASARI
í??????? u?????Ž? ? cŽ????? 5???????? c??????? í??????? v??? c??????? Managing Director
1??? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ?? ???????? ?Ž ?? Ž?? 8??Ž?? Ž? ???? ?????
lŽ? M?S? k8lSPnASWAMl ? 8A!An For DELOITTE HASKINS & SELLS
Chartered Accountants Chartered Accountants
M?k? 8A!An R.LAXMINARAYAN
Partner Partner
M?? ??? ????
C??????
ASHOK LEYLAND LIMITED 54
2012 2011
` Lakhs ` Lakhs
C??? ?Ž? ??Ž? Ž??????? ????????
Þ?Ž?? ???Ž?? ??? 68,997.66 80,179.93
A?????????? ?Ž? ?
u????????Ž?? ??Ž?????Ž? ??? ?????????? ? ??? Ž? ???????????Ž? 35,281.32 26,743.10
C???? ??Ž?????Ž?? ? ?????? ? ??????????? ???????? 1,068.02
lŽ????? ???????? ??????? ? ?Ž???? 1,072.60 458.41
LŽ?? ? ?Þ?Ž??? Ž? ????Ž??? Ž? ???????? ?????? ???????? ????????
LŽ?? ? ?Þ?Ž??? Ž? ???? Ž? ?Ž? ??????? ?????????? ???????? -
Þ?Ž????Ž? ?Ž? ???????Ž? ?? ????? Ž? ?Ž? ??????? ??????????? 26.55 -
l??????? ??????? ? ??? Ž? ???????????Ž? 22,509.33 17,536.75
l??????? ???Ž?? ?????????? ??????????
u??????? ???Ž?? ???????? ????????
C??????? ??Ž?? ???Ž?? ?Ž????? ??????? ??????? 124,521.43 123,306.35
A?????????? ?Ž? ??????? ?? ?
1???? Þ??????? 41,342.89 23,172.41
LŽ?? ???? Þ?Ž????Ž?? ???????? 1,144.84
S?Ž?? ???? Þ?Ž????Ž?? ?????????? 5,170.74
C???? ??????? ?????????? 2,770.39 7,157.70
1???? ??????????? ?????????? ???????????
l?????Ž???? ?????????? ???????????
LŽ?? ???? ???????? ?????????? ??????
S?Ž?? ???? ???????? ??????????? ???????????
C???? ??????? ?????? 1,422.87 -
C???? ?Ž? ??????? ?????? 12.10 ???????
C??? ????????? ??Ž? Ž?????Ž?? 126,705.00 74,164.69
l??Ž?? ??? ???? ??????????? ???????????
N?? ???? ?Ž? ??Ž? Ž??????? ???????? ?A? 111,706.37 59,138.27
C??? ?Ž? ??Ž? ???????? ????????
Þ??????? ?Ž? ????????Ž? Ž? ?????? ??????????? ???????????
Þ?Ž????? Ž? ???? Ž? ???? ?????? 720.74 250.83
Þ?Ž????? ??Ž? ???? Ž? ?Ž? ??????? ??????????? 25,114.30 137.08
CASP lLCW S1A1LMLn1 lC8 1PL ?LA8 LnuLu MA8CP ??? ????
ANNUAL REPORT 2011-2012 55
CASP lLCW S1A1LMLn1 lC8 1PL ?LA8 LnuLu MA8CP ??? ????
lŽ? ??? Ž? ?????? Ž? ??? 8Ž???
K.SRIDHARAN
c???? l???????? O????
A.R. CHANDRASEKHARAN uPLL8A! C Plnuu!A R SESHASAYEE VINOD K DASARI
í??????? u?????Ž? ? cŽ????? 5???????? c??????? í??????? v??? c??????? Managing Director
1??? ?? ??? C??? l?Ž? S???????? ???????? ?Ž ?? Ž?? 8??Ž?? Ž? ???? ?????
lŽ? M?S? k8lSPnASWAMl ? 8A!An For DELOITTE HASKINS & SELLS
Chartered Accountants Chartered Accountants
M?k? 8A!An R.LAXMINARAYAN
Partner Partner
M?? ??? ????
C??????
2012 2011
` Lakhs ` Lakhs
Þ??????? Ž? ?Ž? ??????? ??????????? ??????????? ???????????
l??????? ???????? 775.98 1,002.70
u??????? ???????? 906.06 390.32
C?????? ?? A??????? ?n??? ?????????? 32,222.91
N?? ???? ?Ž? ???? ?? ???????? ???????? ?8? (105,752.03) (91,772.91)
C??? ?Ž? ??Ž? ???????? ????????
Þ?Ž????? ??Ž? ?Ž?? ???? ?Ž??Ž????? 57,731.54 46,000.00
8????????? Ž? ?Ž?? ???? ?Ž??Ž????? ??????????? ??????????
Þ?Ž????? ??Ž? ??Ž?? ???? ?Ž??Ž????? 117,832.98 -
8????????? Ž? ??Ž?? ???? ?Ž??Ž????? ???????????? -
u???????? ? LŽ?? ??????? ???????? ???? ???????? ???????
l??????? ???? ? n?? ??????????? ???????????
u??????? ???? ??? ??? ?????Ž? ??????????? ???????????
N?? ???? ?Ž? ??Ž? ???????? ???????? ?C? (21,087.25) (1,363.62)
N?? ???? ???Ž? ? ?Ž???Ž?? ?A?8?C? (15,132.91) (33,998.26)
C?????? ???? ??? ???? ??????????? 17,537.27 51,535.53
C?Ž???? ???? ??? ???? ??????????? 2,404.36 17,537.27
N?? ???????? ? ?????????? ?? ???? ??? ???? ??????????? (15,132.92) (33,998.26)
NŽ??? ?Ž ??? ???? ?Ž? ?????????
CŽ??Ž????? Ž? ???? ??? ???? ????????????
C??? ??? ???? ????????? ???? ?????? ????????? ??Ž?? ???????
?Ž ????????? ????????
2,746.31 17,551.91
u????????? ?Ž????? ???????? ??????? ? ?Ž???? ? ??? ???????? ???????
2,404.36 17,537.27
ASHOK LEYLAND LIMITED 56
STATEMENT ON SIGNIFICANT ACCOUNTING POLICIES
FORMING PART OF THE FINANCIAL STATEMENTS FOR THE
YEAR ENDED MARCH 31, 2012
?? A??Ž????? ?Ž?????Ž?
??? l???????? ?????????? ??? ???????? ?? ???Ž?????? ???? ??? ????????? ???????? ???Ž????? ?????????? ????????? ???Ž?????
????????? ?? l???? ????? ????Ž????? ?Ž?? ?Ž?????Ž? ?????? ?Ž ??? ?? ???? ?????? ?Ž ????????Ž? Ž? ??????? ???? ??? ??????????
??? A?? ?????? ??? ?????????? ???? ???? ????????? ?? ??????? Ž? ?Ž????????? ?? ??? ??? CŽ??????? ?Ž???? Ž??????? ????? ???
Ž???? ???????? ??? Ž?? ?? ??? 8?????? S??????? vl ?Ž ??? CŽ??????? A??? ????? 8???? Ž? ??? ?????? Ž? ??Ž????? ??? ???
??? ??????? ??? ????????Ž? Ž? ?????? ?Ž? ??Ž??????? ??? ????? ????????Ž? ?? ???? ??? ???? ???????????? ??? CŽ?????
??? ?????????? ??? Ž??????? ????? ?? ?????? ?Ž???? ?Ž? ??? ????Ž?? Ž? ??????? ? ?Ž? ??????? ??????????Ž? Ž? ?????? ???
???????????
??? u?? Ž? ????????
1?? ????????Ž? Ž? ??? ???????? ?????????? ?? ?Ž??Ž????? ???? ??? ????????? ???????? ???Ž????? ?????????? ????????
?????????? ?Ž ???? ???????? ??? ???????Ž?? ???? ????? ??? ???Ž???? ??Ž???? Ž? ?????? ??? ?????????? Ž? ??? ????
Ž? ??? ???????? ??????????? ?????Ž???? Ž? ?Ž??????? ?????????? ??? ???Ž???? ??Ž???? Ž? ???????? ??? ???????? ?Ž? ???
????? L??????? ??? ????? Ž? ????Ž????? ??????????? ????? ?????????? ??? Ž???? ???????Ž?? ???? ?????????? ????????
??? ????Ž????? ????? ??? ?????????????? A????? ??????? ?Ž??? ???? ??Ž? ????? ???????? ??? ??? ???? ?????????? ???
????? ???? ?? ??? ????Ž? ?? ????? ??? ??????? ??? ??Ž??? ????????????
?? I???? ?????? ??? ?????????Ž? ? ??Ž?????Ž?
??? CŽ?? Ž? ??? ????? ?Ž??? ?????????? ???????????Ž? ??? ?????? ?? ??????????? ???? ??? ??????Ž? Ž? ???????Ž?? ???
?Ž??????Ž?? Ž? ? ??????? ?????? ?Ž ??????? ?????????? ????? ??? ?Ž?? Ž? ???? ???????Ž? Ž? ?Ž??????Ž? ?? 8? ????????
??? ???Ž?? C???? ???? ??????? ????????? ?????????? ?????? ??? ?????? ????? Ž? ?????? ????? ??? ?Ž?? ??????? 8?? ??????
??? ??? ???????? ?????? ???? ?? ??Ž ????? Ž? ?Ž??? ?? ???????????? CŽ?? Ž? ?????? ?????? ??? ?ŽŽ?? ?? ??????????? ??Ž?? ????
??? ????????? ??????? CŽ?? Ž? ???? ?????? ?? ??? Ž? ???????? ??????? ????? CLnvA1 ? vA1 S?????? L?????????? ????????
??????? ??? ?????????? ?Ž ?Ž???????Ž? ? ????????Ž? Ž? ???????? ? ?????????? ?????? ??? ??????????? ???Ž ??? ???? ??? ??????
??? ????? ?Ž? ????? ???????? ???? l??????? ??? Ž???? ??????? ?Ž???? ????????? ??Ž????? ?Ž?? Ž? ?Ž??Ž????? ???????????
Ž??? ?Ž ???Ž? ??Ž????? ??? ??????????? ?? ???? Ž? ??? ?Ž?? Ž? ??? ????????? ??????? L??????? ?????????? ??? ??????????? ?Ž
??? ?????? ????? ???? ?? ???? ??? ???Ž??
??? A????? ??? ??????????? ? ??Ž?????? ?? ???Ž?? Ž? ???????? ???? ??????
?? L?????Ž?? ???? Ž??? ??? ????Ž? Ž? ?????
?? L?????Ž?? ???? ??? ????????? ??????? ?Ž ????????Ž?? ?? ?????????? Ž? ??? ????????? ???????? ??Ž????? Ž??? ???
??????? ?????? ???? ?? ?????????? ?? ??? ??????? ?? ??? ???? Ž? ????????? ??? ?? ??? ??? ??Ž?? ?? ??? ???? Ž? ?????
?? 8????????? ????? ??? ????????? ??????? ?????? ??????? ?Ž ??????????? ??? Ž???? ??????? ????????? ?????? ????? Ž?
????? ??? ?????? ?? ?????? ???????? ? ????Ž??? ????????? Ž??? ????? ???????? ?????? ????? Ž? ????? ??????? ??Ž?
??? ????? ?????????? ?? S??????? xlv ?Ž ??? CŽ??????? A??? ????? ????????? ?? ?Ž??? ??? ?? ??? ???? Ž? ??????????
??????? Ž??? ????? ???????? ?????? ?????
?? A????? ??????? ?Ž ??????????? Ž? ??? ??????? ??????? ???????? ??Ž???? Ž??? ??? ????????? ?????? ?????
??? u????????Ž? ? ??Ž?????Ž? ?? ??Ž????? Ž? ? ??Ž????? ????? ??Ž? ??? ?Ž??? ??? ?????? ??? ??? ?Ž ??? ?????? ??? ????????
????? l? ??????? Ž? ?????? ?Ž?? Ž? ????Ž??? Ž? ?????? ??? ????? ?????????Ž? ? ??Ž?????Ž? ?? ??Ž????? ??? ??? ?Ž??? Ž?
???? Ž? ????Ž??? Ž? ??? ???????
?? I??????????
nŽ????????? ??????????? ??? ?????? ?? ?Ž??? PŽ?????? ??Ž????Ž? ?Ž? ???????Ž? ?? ???? ?Ž ???Ž????? ? ???????? Ž???? ????
????Ž????? ?? ??? ????? Ž? ??? ??????????? ?? ???? C?????? ??????????? ??? ?????? ?? ?Ž??? Ž? ?Ž?? ??? ???? ??????
?? I?????Ž????
??? l?????Ž???? ??? ?????? ?? ?Ž??? Ž? ?Ž?? ??? ??? ?????????? ?????? ?Ž?? ????? ??????????? Ž? ??? ?Ž??Ž???? ??????
? S?Ž???? ??????? ?Ž???????? ?ŽŽ??? ??? ????????? ??? ?Ž??Ž????? ??? ?Ž????????Ž?????? C? ?Ž????? ?Ž????
???????? ??????? ??????
ANNUAL REPORT 2011-2012 57
STATEMENT ON SIGNIFICANT ACCOUNTING POLICIES
FORMING PART OF THE FINANCIAL STATEMENTS FOR THE
YEAR ENDED MARCH 31, 2012
- l? ??????? Ž? ?Ž???????? ?Ž??Ž?????? ?Ž?? ???????? ?????????? ??Ž????Ž? Ž?????????
? l??????? ? ??????? ?ŽŽ??? ????? ???Ž???Ž? ?Ž???? ????Ž??
??? CŽ?? ???????? ????? ??? ????? ??? ?? ??? Ž? ???????? ??????? ????? CLnvA1 ? vA1 S???????
??? CŽ?? Ž? ??????? ??? ???? ?? ??Ž????? ??????? Ž??? ??? ??????
??? S?????? ? Ž??Ž???? ? ??Ž? ?Ž???? ??????Ž???? ??? ?????????? ??Ž????? ?Ž??
?? IŽ????? ???????? ????????Ž?? ??? ??????????
??? lŽ????? ???????? ????????Ž?? ??? ???Ž???? ?? ??? ????? ?????????? Ž? ??? ???? Ž? ??? ????????Ž?? MŽ?????? ?????? ???
?????????? ?? ?Ž????? ???????? ??? ?????????? ?? ??Ž???? ????? L??????? ?????????? ??????? Ž? ????????? Ž? ????????Ž? Ž?
?Ž?????? ????? Ž???? ???? ??Ž?? ????Ž??? ?? ???? ??? ???Ž? ??? ???Ž?????? ?? ???Ž?? Ž? ??????? ?? ??? S???????? Ž?
Þ?Ž?? ??? LŽ???
??? L??????? ?????????? Ž? ????????Ž? Ž? ????????? Ž? ?Ž?? ???? ?Ž????? ???????? ?Ž?????? ????? ????? ??Ž?? ???? Ž?
????????? ??????? ?????? ?Ž???? ??Ž? ???? Ž? ??? Ž???????Ž?? ?? ????? ???????? ??Ž? ??Ž?? ?? ????? ???? ???? ????????
???Ž???? Ž? ???Ž???? ?? ??? ?????Ž?? ???????? ??????????? ?? ?Ž ??? ?? ?? ??????? ?Ž ????????Ž? Ž? ??????????? ?????? ???
???????? ?Ž ??? ?Ž?? Ž? ??? ??????? l? Ž???? ?????? ????? ??? ??????????? ?? ?lŽ????? ???????? ?Ž?????? ???? ????????Ž?
????????? ???Ž???? ??? ??Ž????? ?? ???Ž????Ž? ?? ???Ž?? Ž? ??????? ?? ???? ????Ž? Ž??? ??? ??????? ???? Ž? ????
????? ??? ????????? Ž????? ??? ?Ž? ???Ž?? M???? ??? ?????
??? C???? ??? ?Ž???? Ž? ??????? ?Ž????? ?Ž??????? ?????????? ?? ??????? C??? ?Ž? ?????? ??? ???Ž?????? ?? ??? P????
8?????? A??Ž??? ??? ??? ?????????? ?Ž???????? ????????Ž? Ž??????
??? C???? ??? ?Ž???? Ž? ??? Ž???? ?????????? ?????????? ?Ž????? ?Ž??????? ?Ž? ?????????? ?? C??? ?Ž? ?????? ??? ???Ž??????
?? ??? S???????? Ž? Þ?Ž?? ??? LŽ??? Þ?????? Ž? ????Ž??? Ž? ?Ž????? ?Ž??????? ?? ??Ž????? Ž??? ??? ???? Ž? ??? ?Ž???????
??? l?????????? ?? ?????? ??????? Ž? ?Ž??????? ?????????? Ž?????? l???? ??? ??????? ?? ??? 8?????? S???? ?? ??? ????? ??????????
Ž? ??? ???? Ž? ??? ????????Ž??
??? l??Ž?? ? ??????????? Ž? Ž??????? ???????? ??? ???Ž?????? ?? ??? ??????? ???? ?????????? ?????? ??? ?Ž??? ?? ?????
????????Ž? Ž????????
?? A?Ž?????Ž? Ž? ???????? ???????????
L?????????? ???????? Ž? ??????? ?Ž??? ?? ??Ž????? Ž??? ??? ????Ž? Ž? ???? ?Ž??Ž?????? Þ?????? ???? Ž? ?????????? Ž?
??? ?Ž??Ž???? ?? ??Ž????? Ž??? ??? ????????? ????Ž? ?????Ž? Ž? ????? ?Ž????? ????????? ?? ????? L?????????? ????????
Ž? ????? Ž? ?????????? ?? ???????? ??????? S???????? Þ?????? A??Ž????
?? S?????? k??Ž????
1?? CŽ??????? ??????? ??????? ?? ???????? ?? ???????? ??????? ????? Ž? ?????? Ž? ??Ž????? ?????? ??????? ??? ???
???????? ???????? ???Ž???? ?????? ??? ???Ž????? ??????? ?? ???????? ????? Ž? ??Ž????????? ?Ž???Ž? Ž? ??? ????Ž?????
A? ??? A??Ž????? S??????? ? ??? ??? CŽ????? ?? ??????????? ??????? ?? ? ?????? ???????? ??????? ???? CŽ????????
???????? ??? ??????? ?Ž??Ž??????
?? k?????? ???Ž????Ž?
??? 8?????? ??Ž? ???? Ž? ??Ž????? ?? ???Ž?????? Ž? ???????? Ž? ????Ž?????Ž? Ž? ?ŽŽ?? ?? ???Ž?????? ???? ??? ????? Ž? ????
??? ?? ????????? Ž? ?????? ????? 8?????? ??????? ??? ?Ž ????? ???????Ž? ????? ?? ???Ž?????? ?? ??? ????Ž? ???? ???? ?????
?? ???? ?? ???Ž?????? ???? ????? Ž? ?????
??? 8?????? ??Ž? ???????? ?? ???Ž?????? ?? ???Ž?????? ???? ??? ??????? ????? Ž? ?Ž?????? Ž? ????Ž???????
??? C???? Ž??????? ???????? ?Ž?????? Ž? ???Ž?? ??Ž? ????????? ???????? ?????????? ?Ž ??? Ž?????Ž?? Ž? ??? CŽ????? ??d
?? ???Ž?????? ???? ??? ????? ?Ž ??????? ??? ???Ž?? ?? ??????????? ?? ??? ??? ????? Ž? ??? ?Ž???????
ASHOK LEYLAND LIMITED 58
?? L???es
??? L????? ?? ????? ??? CŽ????? ????????? ???????????? ??? ??? ????? ??? ??????? Ž? Ž???????? Ž? ??? ????? ??? ????????? ??
?????? ??????? A????? ????? ????? ?????? ????? ??? ???Ž?????? ?? ? ?????????? ?? ?? ??Ž??? ????? ?Ž ??? ??? ??????????
?? ??? ?????? A??? ??? ?????? ???Ž????Ž?? ??? CŽ????? ???Ž??Ž?? ????? ??????? ??????? ????????? ????????? ???
???????? ???Ž?? ?Ž ?? ?Ž ??????? ? ?Ž?????? ????Ž??? ???? Ž? ?????? Ž? ??? ??? ?????????? Ž?????????? ?? ??????? Ž? ???
?????? ?????? 1?? ???????? ???Ž?? ?? ???Ž?????? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ??? l????? ?????? ?Ž??? ???? ?? ????? ?Ž????
??Ž?????? ?Ž???? ????? ??? ???Ž?????? ??????????? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ???
??? L????? ?? ????? ??? CŽ????? ?Ž?? ?Ž? ???????? ???????????? ??? ??? ????? ??? ??????? Ž? Ž???????? Ž? ??? ????? ???
????????? ?? Ž??????? ??????? A????? ??????? ?Ž Ž??????? ?????? ??? ???????? ?? ???? ??????? L???? ???Ž?? Ž? ??
Ž??????? ????? ?? ???Ž?????? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ?? Ž? ? ???????? ???? ????? Ž??? ??? ????? ?????? CŽ????
????????? ?????????Ž?? ??? ???Ž?????? ?? ?? ??????? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ??? l????? ?????? ?Ž??? ???? ?? ?????
?Ž???? ??Ž?????? ?Ž??? ???? ??? ???Ž?????? ??????????? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ???
??? GŽ???????? ??????
C????? ?? ??? ?Ž?? Ž? ?????????????????? ??????? ??? ??????? ?? C?????? ???????? L??Ž?? ????????? ??? ????????? ?? ???
?????? Ž? ????????? ????? ?? ??? CŽ???????? ??? ????Ž??? ?? ??????? ?? ??? ???? Ž? ????????????
??? k??????? ??? D????Ž????? CŽ???
L?????????? Ž? ??? ?????? ??? ??Ž????Ž? Ž? ??Ž?Ž????? ?? ??????? ?Ž ??????? ?? ????????? Þ?Ž???? ?????Ž????? ?Ž????
????????? ??Ž??Ž? ?????Ž??? ? ????????? ???????? Ž? ??? ???????? ?????? ????Ž???? ???????? Ž? ??????? ????Ž??? ???
?????????? ??? ???Ž?????? ?? l????????? ?????? ??? ??Ž??????
??? L???Ž??? ???????
???? S?Ž?? ???? ????Ž??? ?????? Ž??????Ž?? ??? ???????? ??? ??Ž????? ?Ž??
???? ÞŽ???????Ž????? ??????? ??? Ž???? ?Ž?? ???? ????Ž??? ???????
? u????? ?Ž???????Ž? ??????
CŽ??????? ?Ž???????Ž? ?Ž ??Ž?????? ????? ???????????Ž? ????? ????Ž??? ????? ????????? ??? Ž???? ????? ???
?????????? ????? ??? ???????? ??????? ??? ? Ž? ??????? ??? ??????? ?Ž ????????
? u????? ?????? ????? ??? ?Ž????????? ?????????
CŽ??????? ????????? ?Ž????? ????????? Ž???? ????????? ??????? ??? ?Ž????????? ???????? ??? ???????????
?????????? ?? ???? ??????? ????? ???? ????? ??? ??Ž?????? ???? ?????? ????Ž?? A???????? ????? ??? ?Ž???? ???
???Ž?????? ?? ????????
??? Þ?Ž???? ?????????
Þ?Ž????Ž? ?Ž? ??Ž???? ????????? ?? ???? ?Ž? ?Ž????????? Ž??????Ž?? ?? ???Ž?????? ???? ??? ?Ž???? ?? ?Ž??? ??? ??
???????? ?Ž? ??? ????????? ????Ž??
??? D??????? ???
u??????? ??? ?? ???Ž?????? Ž? ????? ??????????? ????? ??? ????????? ??????? ??????? ???Ž?? ??? ???Ž????? ???Ž??
???? Ž???????? ?? Ž?? ????Ž? ??? ??? ??????? Ž? ????????? ?? Ž?? Ž? ?Ž?? ?????????? ????Ž???
u??????? ??? ????? ?????????? ?Ž ?????Ž???? ?????????Ž? ??? ????? ?Ž????? Ž? ?Ž???? ??? ???Ž?????? Ž??? ?Ž ??? ??????
????? ?? ? ??????? ????????? Ž? ??? ????????Ž??
STATEMENT ON SIGNIFICANT ACCOUNTING POLICIES
FORMING PART OF THE FINANCIAL STATEMENTS FOR THE
YEAR ENDED MARCH 31, 2012
ANNUAL REPORT 2011-2012 59
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
1.1 CAÞI1AL ` Lakhs ` Lakhs
A???Ž?????
????????????? ????? ? ?????????????? L????? ?????? Ž? 8??? ?????? 8???? ???? 30,000.00 20,000.00
I?????
?? ????????????? ?????? ?????????????? L????? ?????? 20,145.67 10,073.86
?? ???????????? ?????? ????????????? L????? ?????? ?????? ???Ž??? C?Ž???
???Ž???Ž?? ???????? 6,463.14 3,231.57
26,608.81 13,305.43
S????????? ??? ????? ???? ??
?? ????????????? ?????? ?????????????? L????? ?????? 20,143.62 10,071.81
?? ???????????? ?????? ????????????? L????? ?????? ?????? ???Ž??? C?Ž???
???Ž???Ž?? ????????
6,463.14 3,231.57
26,606.76 13,303.38
A??? lŽ??????? ?????? ???Ž??? Ž????????? ???? ?? ?? ??????? Ž? ??? ??????? 0.04 0.04
26,606.80 13,303.42
NŽ???? 2012 2011
1. 8??Ž???????Ž? Ž? ?????? Ž? L????? ?????? ??????????
8?????? ?? ?? ??? ????????? Ž? ??? ???? 133,03,38,317 133,03,38,317
A??? S????? ?????? ??? ???Ž??? ?? ?Ž??? ?????? ?????? ??? ???? ?? ??? ???Ž
Ž? ??? ? 8???? nŽ?? ??? ??? ?Ž ??? l???????? S?????????? ?
133,03,38,317 -
8?????? ?? ?? ??? ??? Ž? ??? ???? 266,06,76,634 133,03,38,317
? 8????????? ??? ?????? Ž? ?????? ?????? ?? 8Ž??? ?????? ?????? ????
??? ?????
?? S????? ???? ?? ??? PŽ????? CŽ?????
P?????? A??Ž?Ž??? L??????? ??? ?Ž????? CŽ?????? ?Ž??? ????????????? ?????? ????????????? L????? ?????? ???
????????? ?????? ?????????? C?Ž??? u??Ž???Ž?? 8??????? ?Cu8?? ?????????? ?Ž ???????????? ?????? ????????????? ??????
?????? Ž? 8?? ? ?????? 8???? ???? ?????????? ?Ž ?????? Ž? ??? ?Ž??? ????? ????????
?? S?????Ž????? Ž???? ???? ??? PŽ????? CŽ????? ?Ž????? ?Ž?? ???? ?? Ž? ??? ?Ž??? ????? ???????
L??? l???????? CŽ??Ž???Ž? Ž? l???? ?Ž??? ???????????? ?????? ????????????? L????? ?????? Ž? 8??? ???? ?????????? ?Ž
????? ?????? ???????
?? Þ??????? ?Ž ??? ????? Ž? ?Ž??? ?????? ?? ??? ???Ž Ž? ??? ?????? ??? ????? ??? ?????????? Ž? Cu8 ?Ž????? ?Ž ??? ??????????
L????? ?????? ?? ??? CŽ????? ??? ????????? ??Ž?Ž??Ž???????
?? 8?????? ??????????? ??? ????????Ž?? ?? ??????? Ž? ?????? ?????? ??? Cu8? ?????? ?? ??? CŽ?????
?? 1?? L????? ??????Ž????? ??? ??????? ?Ž ??????? ????????? ?? ??? ???? ????????? ? ????? ?Ž ?Ž?? ?? ??Ž?Ž??Ž?
?Ž ?Ž????? ???? ??? ????? ??????? ??????????? ??? ????????Ž?? ??? ?Ž?????? ?? ? ?? ????? Ž? ????? ????? ????? ???
??Ž????Ž?? Ž? ??? CŽ??????? A??? ?????
?? 1?? ??????? ??????????? ??? ????????Ž?? Ž? ??? Cu8 ?Ž????? ??? ?Ž?????? ?? ??? ????? Ž? ????? ?????? ??? ???
??Ž????Ž?? Ž? ??? CŽ??????? A?? ????? L??? Cu8 ?Ž???? ?? ??????? ?Ž ??????? ?? ?????? ?????? ? ????? ?? ??????
?????? ? Ž? 8?? ? ????? ??? Cu8? ??? ????? ?Ž??? ?????? ??? ?? ????????? ???Ž??? ??? u??Ž???Ž???
ASHOK LEYLAND LIMITED 60
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
1.2 kLSLkVLS AND SUkÞLUS ` Lakhs ` Lakhs ` Lakhs
?? C?????? k?????? ?? ?? ??? ????????? ??? ??? Ž? ??? ???? 89.50 89.50
?? S???????? Þ?????? A??Ž???
8?????? ?? ?? ??? ????????? Ž? ??? ???? 89,033.66 89,033.66
L???? u??????Ž? ?Ž????? ????? Ž? ????? ???? ?Ž??? ??????
?????? ??? ????
13,303.38 -
L??????? ???????? Ž? ????? Ž? u?????????
?8???? nŽ?? ???? ?Ž ??? l???????? S??????????
125.74 -
8?????? ?? ?? ??? ??? Ž? ??? ???? 75,604.54 89,033.66
?? D???????? k??????Ž? k??????
8?????? ?? ?? ??? ????????? Ž? ??? ???? 9,000.00 4,166.66
A??? 1?????????? ??Ž? S???????? Ž? Þ?Ž?? ??? LŽ?? 3,750.00 5,250.00
L???? 1?????????? ?Ž S???????? Ž? Þ?Ž?? ??? LŽ?? 3,750.00 416.66
8?????? ?? ?? ??? ??? Ž? ??? ???? 9,000.00 9,000.00
?? k???????Ž? k??????
8?????? ?? ?? ??? ????????? Ž? ??? ???? 130,627.60 133,317.40
L???? 1?????????? ?Ž S???????? Ž? Þ?Ž?? ??? LŽ??
1,577.46 2,685.06
?8???? nŽ?? ????? ??? ?Ž ??? l???????? S??????????
1?????????? ?Ž C?????? ??????? Ž? ???? Ž? ?????? 88.15 -
8??????? Ž?????Ž??? Ž? ????????????? Ž? ?????? 131.38 4.74
A??? 1?????????? ??Ž? A?Ž?????Ž? 8??????
2,505.09 -
?8???? nŽ?? ????? ??? ?Ž ??? l???????? S??????????
8?????? ?? ?? ??? ??? Ž? ??? ???? 131,335.70 130,627.60
e) General Reserve
8?????? ?? ?? ??? ????????? Ž? ??? ???? 79,253.33 69,253.33
A??? 1?????????? ??Ž? S???????? Ž? Þ?Ž?? ??? LŽ?? 10,000.00 10,000.00
1?????????? ??Ž? 8???????Ž? ??????? Ž? ???? Ž? ?????? 88.15 -
8?????? ?? ?? ??? ??? Ž? ??? ???? 89,341.48 79,253.33
?? n???? k?????? ?8???? nŽ?? ????? ?Ž ??? l???????? S??????????
8?????? ?? ?? ??? ????????? Ž? ??? ???? ???????? ???????
A??? u????????? ????? ? ??Ž????? Ž? ???? ?Ž? ?????????? ?????????? ???????
8?????? ?? ?? ??? ??? Ž? ??? ???? (1,953.80) (129.82)
?? S?????? ? ??????? ?? S???????? Ž? Þ?Ž?? ??? LŽ??
8?????? ?? ?? ??? ????????? Ž? ??? ???? 75,118.52 57,744.98
A??? C?????? ???? ??Ž?? 56,597.66 63,129.93
1?????????? ??Ž? u???????? 8??????Ž? 8?????? 3,750.00 416.66
L???? 1?????????? ?Ž C?????? 8?????? 10,000.00 10,000.00
1?????????? ?Ž u???????? 8??????Ž? 8?????? 3,750.00 5,250.00
Þ?Ž?Ž??? u??????? ?8?? ???? ??? ?????
?????? 8?? ? ??? ???????
26,606.77 26,606.77
CŽ??Ž???? ???????? ??? ?????Ž? 4,316.28 4,316.28
8?????? ?? ?? ??? ??? Ž? ??? ???? 90,793.13 75,118.52
394,210.55 382,992.79
ANNUAL REPORT 2011-2012 61
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
??? NCN?CUkkLN1 LIA8ILI1ILS ? LCNG 1LkM 8CkkCWINGS ` Lakhs ` Lakhs
?? S?????? 8Ž??Ž?????
?? u????????? 36,000.00 33,000.00
??? 1??? LŽ?? ??Ž? ????? 60,000.00 78,333.33
?? U???????? 8Ž??Ž?????
?? LŽ?? ???? ?Ž?????? ???? ?? ?Ž????? ????????
? L??????? CŽ???????? 8Ž??Ž????? ??Ž? ?????
125,491.67 113,717.25
??? C???? ?Ž??? ??? ????????
l??????? ???? ????? ??? ?Ž??? 6,692.17 8,060.54
LŽ??? ??Ž? ? l???????? ???????Ž? 1,151.27 1,701.71
229,335.11 234,812.83
S??????? ??? ????? Ž? ????????? ?? ??????? Ž? ??? ??Ž?? ?Ž??Ž????? ???
?Ž????? ?? nŽ?? ???? ?Ž ??? l???????? S??????????
??? NCN?CUkkLN1 ? DLILkkLD 1Ax LIA8ILI1ILS ?NL1?
?? D??????? ??? ????????? ??? ?Ž
?? u????????Ž? ? 8??????? ??? ?????Ž????? ??????????? 51,033.03 46,500.63
??? C???? ????? ?????????? 593.58 230.61
?? D??????? ??? ????? ??????? Ž?? Ž?
?? vŽ??????? ????????? ?????? ?Ž???????Ž? ??????? ???????
??? Þ?Ž????Ž? ?Ž? L???? ?????????? ?????????? ??????????
???? C???? ????? ?????????? ???????? ????????
49,036.69 44,388.69
??? NCN CUkkLN1 LIA8ILI1ILS ? C1nLk LCNG 1LkM LIA8ILI1ILS
lŽ????? ???????? ?Ž?????? ???? ????????Ž? ????????? ? ???
359.03 -
? 8???? nŽ?? ????? ?Ž ??? l???????? S????????? ?
359.03 -
??? NCN?CUkkLN1 LIA8ILI1ILS ? LCNG?1LkM ÞkCVISICNS
?? Þ?Ž????Ž? ?Ž? L???Ž??? 8??????
?? CŽ????????? ???????? 5,165.73 5,004.91
??? ÞŽ?? ????????? ??????? 377.30 412.86
???? ÞŽ?? ????????? ??????? ??????? 150.19 128.20
?? Þ?Ž????Ž? ?Ž? Þ?Ž???? ????????? 1,963.08 2,300.38
7,656.30 7,846.35
MŽ?????? ?? ??????? Ž? ??Ž????Ž?? A????Ž? ? ???????????? ???? ?Ž? ??? ????
? Þ?Ž???? ????????? ? 8?? ???????? ?????? ?????? 8?? ?????? ??????
ASHOK LEYLAND LIMITED 62
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
??? CUkkLN1 LIA8ILI1ILS ? SnCk1 1LkM 8CkkCWINGS ` Lakhs ` Lakhs
U???????? 8Ž??Ž????? ? ??Ž? 8????
S?Ž?? ???? ?Ž??? ?S1L?
??? S1L ? ? 5,087.50 -
???? S1L ? ? 5,087.50
10,175.00 -
1???? Ž? ????????? ?? ??????? Ž? ??? ??Ž?? ? 8???? nŽ?? ???? ?Ž ???
l???????? S?????????
??? CUkkLN1 LIA8ILI1ILS ? 1kADL ÞA¥A8LLS
1???? ???????? ? ????????? ???????????
?? M???Ž? S???? ??? M????? ???????????
?8???? nŽ?? ???? ?Ž ??? l???????? S??????????
14,525.47 17,782.39
??? C???? 1???? Þ??????? 262,720.63 213,068.28
277,246.10 230,850.67
??? CUkkLN1 LIA8ILI1ILS ? C1nLk CUkkLN1 LIA8ILI1ILS
?? C?????? ????????? Ž? LŽ?? ???? ????? 70,279.22 22,013.65
?? l??????? ??????? ??? ?Ž? ??? Ž? ?Ž??Ž????? 4,422.17 4,120.25
?? l??Ž?? ???????? ?? ??????? 34.01 21.49
?? u???????? ????????? 509.27 400.81
?? lŽ????? ???????? ?Ž?????? ???? ????????Ž? ????????? ? ???
56.24 -
? 8???? nŽ?? ????? ?Ž ??? l???????? S????????? ?
?? C???? ???????? 79,567.71 67,893.37
?? u??????? L???????? 43.07 8,992.67
154,911.69 103,442.24
NŽ????
?? u?????? Ž? ???????? ??? ????? Ž? ????????? ?? ??????? Ž? ??? ???????
????????? Ž? ?Ž?? ???? ?????? ?8???? nŽ?? ???? ?Ž ??? l???????? S??????????
2. C???? ???????? ????????
- CŽ???????Ž? ??????? ?Ž C??????? l??? 2,002.48 2,085.39
- lŽ????? ???????? ?????? ? ?Ž?? Ž? M???????Ž?M????? ????? ? ??? 2,948.75 214.66
- L???Ž??? ??????? 13,319.81 15,935.51
- Capital creditors 13,563.16 10,292.04
- A?????? ??Ž? ????Ž???? 17,843.73 10,599.63
ANNUAL REPORT 2011-2012 63
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
???? CUkkLN1 LIA8ILI1ILS ? SnCk1?1LkM ÞkCVISICNS ` Lakhs ` Lakhs
?? Þ?Ž????Ž? ?Ž? ????Ž??? ???????
?? CŽ????????? ???????? 1,197.79 1,006.90
??? ÞŽ?? ????????? ??????? 86.52 68.49
???? ÞŽ?? ????????? ??????? ??????? 51.35 28.72
?? C?????
?? Þ?Ž?Ž??? ???????? 26,606.77 26,606.77
??? CŽ??Ž???? ???????? ??? Ž? ??Ž?Ž??? ???????? 4,316.28 4,316.28
???? Þ?Ž???? ????????? 9,778.73 9,667.30
42,037.44 41,694.46
MŽ?????? ?? ??????? Ž? ??Ž????Ž?
Þ?Ž????Ž? ? ???????????? ???? ?Ž? ??? ????
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NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 65
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NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 66
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
???? NCN?CUkkLN1 ASSL1S ? NCN?CUkkLN1 INVLS1MLN1S
DESCRIPTION As at March 31, 2012 As at March 31, 2011
` Lakhs Nos ` Lakhs Nos ` Lakhs
A? 1???? I??????????
I? I????????? ?? L????? I??????????
?? I???Ž? S?????????
L????? S????? Ž? k?? ?? ????
P?????? lŽ??????? L?????? ? 54,05,793 2,421.26 54,05,793 2,421.26
?? A??Ž??????
?? L????? S????? Ž? k?? ?? ????
?? A??Ž???? ?l????? Þ?????? L?????? 40,00,000 400.00 40,00,000 400.00
??? A????? 8?Ž?l???? L?????? - - 7,520,014 752.00
???? A??Ž? L?????? u?????? S?????? L?????? 17,567 1.76 17,567 1.76
??? A??Ž?Ž??? CŽ????? ??? CŽ??Ž?????
Limited
51,70,664 488.27 51,70,664 488.27
?? u?????? 1????Ž?Ž???? L?????? 2,34,10,000 2,341.00 3,13,61,619 3,136.16
??? l????? ? 1vS L?????? 33,00,000 367.50 33,00,000 367.50
???? P?????? L?????? l?????? L?????? - - 10,92,00,000 10,920.00
?? L????? S????? Ž? k????? ????
?? A????? 1?????Ž?? S??????? L?????? - - 6,00,000 600.00
??? C??? A????? MŽ?Ž? L?????? 5,79,190 579.19 5,79,190 579.19
?? L????? ?????? Ž? S???????? k?? ?? ????
?? L???? A??Ž? L?????? L?????? 10,08,332 57.46 10,08,332 57.46
?? L????? ?????? Ž? UAL D?????? Ž? ???? ????
?? A??Ž? L?????? ?uAL? LLC 9,400 1,168.52 9,400 1,168.52
?? L????? S????? Ž? US DŽ????? ???? ????
?? u?????? 1????? ??? L??????????
S??????? l??? uSA
49 691.15 49 691.15
?? L????? S?????
?? C????? ??? uk ? 8???? nŽ?? ? 8??Ž? ?
? C??????? ?????? Ž? 8????? Þ???? ???
???? ?????? 8????? Þ???? ? ?????
56,63,44,583 5,842.79 19,55,57,828 5,025.24
? u??????? ?????? Ž? 8????? Þ???? ???
???? ?????? nlL?
19,55,57,828 - - -
?? L????? ?????? Ž? L??Ž ? ????
?? A??Ž???? C??P 96,12,000 5,963.18 96,12,000 5,963.18
?? L????? ?????? Ž? G8Þ ? ????
?? A??Ž? L?????? ?uk? L?????? 100 0.08 - -
ANNUAL REPORT 2011-2012 67
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
DESCRIPTION As at March 31, 2012 As at March 31, 2011
` Lakhs Nos ` Lakhs Nos ` Lakhs
?? IŽ??? V???????
L????? S????? Ž? k?? ?? ????
?? A????? A?????? l???? L?????? 4,00,00,000 4,000.00 3,50,00,000 3,500.00
??? A??Ž? L?????? !Ž?? u????
CŽ???????Ž? L???????? CŽ?????
Þ?????? L??????
6,08,68,150 6,086.82 4,23,68,150 4,236.82
???? A??Ž? L?????? n????? v???????
Limited
20,70,61,500 20,706.15 16,88,41,500 16,884.15
??? A??Ž?Ž??? l??Ž??Ž???? L?????? 1,57,51,762 1,575.18 1,57,51,762 1,575.18
?? n????? A??Ž? L?????? ÞŽ????????
Limited
7,35,40,705 7,354.07 5,44,30,705 5,443.07
??? n????? A??Ž? L?????? 1????Ž?Ž????
Limited
2,55,04,000 2,550.40 2,55,04,000 2,550.40
?? C?????
?? L????? S????? Ž? k?? ?? ????
?? A????? 8?Ž?l???? L?????? ??Ž?? 8?????? 14 - -
??? P?????? L?????? l?????? L?????? 5,70,00,000 5,700.00 - -
?? L????? S????? Ž? k????? ????
?? A????? 1?????Ž?? S??????? L?????? 7 0.01 - -
II? I????????? ?? Þ????????? S?????
I???Ž? S?????????
?? C???????? NŽ??CŽ???????? k?????????
Þ????????? ?????? Ž? k?? ??? ????
?? P?????? lŽ??????? L?????? 25,00,000 2,166.67 25,00,000 2,166.67
III? I????????? ?? C???????? I???????
C???????? ???????? ?? ????? ??????? ?? C????
koruna
?? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? ? ??
?? A??Ž????? ???Ž M???? ??? ????
- - ?????? 13,068.48
??? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? ? ??Ž?
March 20, 2012
????? 639.18 - -
1Ž??? ? 1???? I?????????? 71,100.64 81,996.46
Less: Þ?Ž????Ž? ?Ž? ???????Ž? ?? ????? ?Ž?????
?? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? 626.53 -
??? A????? 8?Ž?l???? L?????? ?l???? ??Ž????? ?
8?? ????
-
???? A????? 1?????Ž?? S??????? L?????? ?l????
??Ž????? ? 8?? ????
0.01 600.00
A???????? ??Ž????Ž? ?Ž? ???????Ž? ?? ?????
Ž? 1???? I??????????
626.54 600.00
1Ž??? ? 1???? I?????????? ? N?? ?A?
70,474.10 81,396.46
ASHOK LEYLAND LIMITED 68
DESCRIPTION As at
March 31, 2012
As at
March 31, 2011
Nos Rs. Lakhs Nos Rs. Lakhs
8? C???? I??????????
I? I????????? ?? L????? S?????
?? A??Ž??????
L????? S????? Ž? k?? ?? ????
?? A????? A?????? L?????? ?????? ????????Ž?? 14,70,000 14.70 14,70,000 14.70
??? A????? PŽ?????? L?????? 31,98,77,500 31,987.75 14,35,37,500 14,353.75
???? A????? l?????????? L?????? 32,26,57,500 32,265.75 14,45,77,500 14,457.75
??? A??Ž? L?????? Þ?Ž???? S??????? L?????? 34,42,400 344.24 34,42,400 344.24
?? M??????? 8????? S??????? L?????? 24,980 2.50 24,980 2.50
?? C?????
?? L????? ?????? Ž? k?? ?? ????
?? C?????? W???????Ž? CŽ??Ž???? lŽ?????Ž?
?CŽ?? 8??????
100 100
??? P?????? C?Ž??? SŽ???Ž?? L?????? ? 2,029 4.05 2,029 4.05
???? P?????? v??????? L?????? ? 2,029 4.06 2,029 4.06
??? lClCl 8??? L?????? ? 24,231 10.52 24,231 10.52
?? l????l?? 8??? L?????? ? 2,01,13,923 15,138.90 1,80,25,923 9,210.33
?? L????? ?????? Ž? k?? ??? ???? ?????? ???????
?? A???? Þ?Ž????? PŽ????? CŽ? L??????
?8?? ?? ???? ???
400 0.26 400 0.26
II? I????????? ?? Þ????????? S?????
A??Ž??????
? ? NŽ??C???????? NŽ??CŽ???????? k?????????
Þ????????? ?????? Ž? k?? ?? ????
?? A????? PŽ?????? L?????? 1,50,00,000 1,500.00 1,50,00,000 1,500.00
??? A????? l?????????? L?????? 1,50,00,000 1,500.00 1,50,00,000 1,500.00
III? I????????? ?? GŽ???????? S????????
n??Ž??? S?????? C???????? Ž? ??? ???? ????? Ž?
Rs. 0.50 lakh
0.50 0.50
IV? I????????? ?? D????????? Ž? 8Ž???
NŽ???Ž???????? ?????????? ?Ž??? Ž? k?? ?? L???? ????
lClCl 8??? L?????? ? 20 200.56 20 200.56
1Ž??? ? C???? I?????????? ?8? 82,973.79 41,603.22
G???? 1Ž??? ?A ? 8? 1,53,447.89 1,22,999.68
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 69
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
NŽ??? ` Lakhs ` Lakhs
?? l?????????? ??? ????? ??????? ?????? Ž???????? ???????
?? C?Ž??? l?????????? ??? ? CŽ?? 17,779.35 11,850.78
? M????? ????? 68,152.25 52,413.46
u???Ž??? l?????????? ? C????? ?CŽ??? 1,36,295.08 1,11,748.90
?? l????????? ?? C????? ???? uk?
l? ???? Ž? ???????????? C??????? S????? ?? C????? ??? Ž? ???? ????? Ž? 8????? Þ???? ? ????? ??? CŽ????? ??? ???Ž???
?? ????? ?????? Ž? n?? C??????? S????? ???? ???? ????? Ž? 8????? Þ???? ??? ???? ??? u??????? S????? ???? ????
????? Ž? 8????? Þ???? ??? ???? ???????? ?Ž ? ????????????? ???????? ?? C????? ???? 1?? ????? Ž? ?????? ???????? ???
???? ???Ž???? ?? ?Ž??? Ž? ?Ž?? ??? ???? ??????
?? 1?? ?????? ?? ??? ?Ž??Ž???? ?Ž??????? ??? ?? ????Ž??? Ž? ? ?????????? Ž??? ???? ??? ?Ž????? Ž? ????? ? ????????
???????Ž?? ??Ž ???? ????? ?Ž??? ?Ž ????? ?Ž??????? ?
?? A????? A?????? l???? L??????
?? A??Ž?Ž??? CŽ????? ??? CŽ??Ž????? L??????
?? P?????? lŽ??????? L??????
???? NCN?CUkkLN1 ASSL1S ? LCNG?1LkM LCANS AND ADVANCLS
?? C?????? A???????
?? u????????? ?Ž???????? ?ŽŽ? 14,212.16 2,467.73
??? u????????? ?Ž???????? ?Ž????? 1.00 1.00
L???? Þ?Ž????Ž? 1.00 1.00
A 14,212.16 2,467.73
?? S??????? D??Ž???? ? U????????? ?Ž???????? ?ŽŽ? 8 1,347.58 1,041.08
?? LŽ??? ??? ???????? ?Ž k?????? Þ?????
?8???? nŽ?? ??? ?Ž ??? l???????? S??????????
? u????????? ?Ž???????? ?ŽŽ?
?? LŽ?? ???? ?Ž?????? ?????? ?? ?Ž????? ???????? 9,784.31 12,497.10
ii. Others 232.49 747.49
?? 8??????? ???? ????Ž??? ?Ž?? ?????? ??????? ?????? ????
u????????? ?Ž???????? ?Ž????? 1,428.06 1,428.06
L???? Þ?Ž????Ž? 1,428.06 1,428.06
C - -
?? C???? LŽ??? ??? A??????? ? U????????? ?Ž???????? ?ŽŽ?
?? M??????? ??????? 38.20 255.29
??? L???Ž??? ???????? 851.90 632.74
???? S???? ??? ???? ????? ??Ž???? 2,382.01 2,382.01
??? A?????? l??Ž?? ??? ????? 3,040.54 1,907.13
?? MA1 C????? ?????????? 22,572.94 16,294.94
??? S???? C?????? ??????? 5,000.00 -
???? C???? ???????? 1,361.82 237.52
D 35,247.41 21,709.63
1Ž??? ?A ? 8 ? C ? D? 60,823.95 38,463.03
C? ??? ??Ž??? u?? ??Ž? u?????Ž?? ? C????? 0.11 0.16
ASHOK LEYLAND LIMITED 70
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
???? C1nLk NCN?CUkkLN1 ASSL1S ` Lakhs ` Lakhs ` Lakhs
?? LŽ?? ???? ????? ???????????
? u???????? ?Ž???????? ?ŽŽ?
12.13 24.23
?? u???Ž????? ????????? ? ?Ž?? ????? ???????? 730.61 291.56
1Ž??? 742.74 315.79
???? CUkkLN1 ASSL1S ? INVLN1CkILS
??? 8?? ????????? ??? CŽ??Ž????? ?????????? ??????? ??? ????? 78,988.15 94,841.45
??? WŽ????? ???Ž????? 17,229.95 26,282.03
??? l??????? ?ŽŽ?? 100,557.62 77,816.21
??? 1?????? ?ŽŽ??
??? L?????? 210.16 248.25
???? L???? CŽ???????? v??????? 40.62 -
????? S???? ????? ??? ???Ž ?Ž??Ž????? ?????????? ?Ž??? ????? 16,262.42 12,451.49
16,513.20 12,699.74
??? S?Ž???? ?????? ??? ?Ž???????? ?ŽŽ?? 9,773.60 9,250.91
223,062.52 220,890.34
CŽŽ?? ?? ??????? ???????? ????? ??? ??Ž?? ????? ??? ?? ???Ž??
??? 8?? M???????? ??? ?Ž??Ž????? 9,266.97 7,638.48
??? 1?????? ?ŽŽ??
??? L?????? 169.88 159.29
???? L???? CŽ???????? v??????? 40.62 -
????? S???? ????? ??? ???Ž ?Ž??Ž?????
?????????? ?Ž??? ?????
535.32 27.41
??? S?Ž???? ?????? ??? ?Ž???????? ?ŽŽ?? 14.67 -
???? CUkkLN1 ASSL1S ? 1kADL kLCLIVA8LLS
1???? 8?????????? ? u????????
??? CŽ???????? ?ŽŽ? 123,024.79 116,449.82
???? CŽ???????? ?Ž????? 39.47 63.01
123,064.26 116,512.83
L???? Þ?Ž????Ž? 39.47 63.01
123,024.79 116,449.82
A?? ???????? Ž? ????? ???????????
C?????????? ?Ž? ?Ž?? ???? ??? ?Ž???? ??Ž? ??? ???? ???? ??? ??? 24,812.84 19,468.29
Others 98,211.95 96,981.53
1Ž??? 123,024.79 116,449.82
ANNUAL REPORT 2011-2012 71
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
???? CUkkLN1 ASSL1S ? CASn AND CASn LÇUIVALLN1S ` Lakhs ` Lakhs
?? C??? ??? ???? ???????????
8??????? ???? 8???? ?? C?????? ???Ž??? 2,723.32 17,337.40
?? C??????? ????? Ž? ???? 0.55 182.02
?? C??? ??? ?????? Ž? ???? 22.44 32.49
?? C???? ???? ????????
? L???????? ???Ž???? ? 509.27 400.81
1Ž??? 3,255.58 17,952.72
? L???????? ???Ž???? ????????? ???????? ?? ??? ????????? ???????? ???Ž?????
???? CUkkLN1 ASSL1S ? SnCk1?1LkM LCANS AND ADVANCLS
u????????? CŽ???????? CŽŽ?
??? LŽ??? ??? ???????? ?Ž ??????? ??????
?8???? nŽ?? ??? ?Ž ??? l???????? S??????????
??? C?????? ?Ž??Ž? Ž? LŽ?? ???? ?Ž?????? ?????? ?? ?Ž????? ???????? 9,728.47 1,822.82
???? C????? 6,061.57 3,023.94
??? C?????
??? S??????? ???Ž??? 112.25 136.64
???? Þ???Ž?? ??????? 1,576.18 1,716.88
????? M??????? ???????? 11,154.29 5,978.18
???? 8??????? ???? ????Ž??? ?Ž?? ?????? ??????? ?????? ???? 8,125.00 5,298.67
??? C???? ??????????? 35,951.30 15,462.29
1Ž??? 72,709.06 33,439.42
C? ??? ??Ž??
?? u?? ??Ž? u?????Ž?? ? C????? 0.05 0.44
?? C???? ??????????? ???????
? S???? ??? 2,799.39 353.09
? Þ?????? ???????? 3,456.99 3,061.66
- VAT credit 19,037.35 7,509.79
? L???? ??? 1,824.41 1,338.71
? S?????? ??? 944.75 114.74
ASHOK LEYLAND LIMITED 72
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
As at
March 31, 2012
As at
March 31, 2011
???? CUkkLN1 ASSL1S ? C1nLk CUkkLN1 ASSL1S
` Lakhs ` Lakhs
?? l??????? ??????? ?
? LŽ??? ??? ??????? ?Ž 8?????? Þ????? ?8???? nŽ?? ??? ?Ž ??? l????????
S??????????
688.84 837.53
- Others 48.38 41.09
?? L??Ž?? ???????? ??????????? 7,344.89 8,626.36
?? C?????? ?Ž??Ž? Ž? ????Ž????? ????????? ? ?Ž?? ??????? ???????? 254.57 139.89
8,336.68 9,644.87
??? kLVLNUL IkCM CÞLkA1ICNS
???? ?????
March 31, 2012
???? ?????
March 31, 2011
?? S??? Ž? ??Ž?????
- Commercial Vehicles 1,184,618.44 1,083,647.88
? L?????? ??? C?????? 34,921.00 35,581.46
? S???? ????? ??? Ž????? 171,748.00 106,134.72
(A) 1,391,287.44 1,225,364.06
?? k?????? ??Ž? ???????? (B) 2,125.84 2,031.72
?? C???? Ž??????? ????????
? CŽ?????? ????????????? 2,637.88 1.52
? L??Ž?? l???????? 8,945.23 6,520.81
- Scrap sales 7,255.54 5,147.39
- Others 1,156.01 212.48
?C? 19,994.66 11,882.20
?A?8?C? 1,413,407.94 1,239,277.98
L???? CŽ??????Ž?? ?????? ??? ????Ž???? 47,560.77 23,977.59
1,365,847.17 1,215,300.39
ANNUAL REPORT 2011-2012 73
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
???? ?????
March 31, 2012
???? ?????
March 31, 2011
??? C1nLk INCCML ` Lakhs ` Lakhs ` Lakhs
?? I??????? ???Ž?? ??Ž?
?? nŽ??C?????? ??????????? 14.94 14.90
??? C?????? ????????? ????? ????Ž????? 1,367.39 2,086.14
1,382.33 2,101.04
?? D??????? ???Ž?? ??Ž?
?? C?????? ??????????? 392.30 439.55
??? nŽ??C?????? ??????????? 513.76 390.32
906.06 829.87
?? Þ?Ž?? Ž? ????Ž??? Ž? C?????? ??????????? ? N?? - 1.60
?? C???? ?Ž??Ž??????? ???Ž??
?? C??? ????Ž??? ?????? 444.92 440.06
??? Þ?Ž?? Ž? ???? Ž? ???? ?????? ? n?? 348.03 188.50
iii. Others 953.69 884.07
1,746.64 1,512.63
4,035.03 4,445.14
??? CCS1 CI MA1LkIALS CCNSUMLD
?? lŽ?????? ??? ??????? 65,312.66 69,337.36
?? Þ?????? ??????? ????? ????? ????? ??? ?????? 27,489.44 21,781.93
?? 1????? ????? ??? ???? 91,672.53 85,853.97
?? l??????? ??? Ž???? ????? 727,899.33 629,704.71
912,373.96 806,677.97
Less: Issues capitalised 225.63 227.94
912,148.33 806,450.03
C? ??? ??Ž??
?? l??Ž???? ????? ? ??Ž??? 61,957.30 56,822.54
? ?????????? ????? ?????
?? l??????Ž?? ????? ? ??Ž??? 850,416.66 749,855.43
? ?????????? ?????? ??????
??? ÞUkCnASLS CI S1CCk?IN?1kADL ? 1kADLD GCCDS
?? 1????? ??????? 1,570.10 1,592.58
?? L???? CŽ???????? v??????? 15,658.63 -
?? S???? ????? ??? A??Ž ?Ž??Ž????? 33,508.64 25,744.39
50,737.37 27,336.97
ASHOK LEYLAND LIMITED 74
???? ?????
March 31, 2012
???? ?????
March 31, 2011
2.5 CnANGLS IN INVLN1CkILS CI IINISnLD GCCDS?
WCkk?IN?ÞkCGkLSS AND S1CCk?IN?1kADL
` Lakhs ` Lakhs
?? C?????? ?? l?????Ž????
? WŽ????????Ž????? 9,052.08 8,374.23
? l??????? ? 1?????? ?ŽŽ?? ??????????? ???????????
N?? ?????? (17,502.77) (17,553.60)
?? MŽ?????? ?? L????? ???? ?Ž????? ?? ??Ž???
- Paid 82,449.32 98,620.98
? 8??Ž????? ??????????? ???????????
N?? ?Ž?????? 801.47 1,031.20
N?? (16,701.30) (16,522.40)
??? LMÞLC¥LL 8LNLII1S LxÞLNSL
?? S???????? ????? ??? ?Ž??? 80,464.95 77,135.86
?? CŽ???????Ž? ?Ž ??Ž??????? ???????? ??? Ž???? ????? 8,744.45 8,506.07
?? W?????? ???????? 14,409.87 11,818.08
103,619.27 97,460.01
L???? L???Ž??? ???????? ??????????? 1,579.85 1,488.38
102,039.42 95,971.63
??? IINANCL CCS1S
?? l??????? 22,437.89 17,712.09
?? C???? ?Ž??Ž???? ?Ž??? ? 3,244.22 1,355.59
25,682.11 19,067.68
L???? l??????? ?Ž?? ??????????? 156.79 175.34
25,525.32 18,892.34
? C???? ?Ž??Ž???? ?Ž??? ??????? ??Ž?????Ž? Ž??
? LŽ?? ??????? ? ????????? ?????? ???????? 216.97 155.26
? Þ?????? Ž? ?Ž????? ?Ž??????? 1,081.46 -
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 75
???? ?????
March 31, 2012
???? ?????
March 31, 2011
??? DLÞkLCIA1ICN ? IMÞAIkMLN1 ` Lakhs ` Lakhs
A? 1??????? ??????
??? 8???????? 4,118.59 3,861.16
??? Þ???? ??? ????????? 22,137.11 19,161.46
??? l???????? ??? ????? 837.02 619.94
??? C??? ????????? 1,896.15 1,416.99
??? v??????? ??? ???????? 963.65 802.97
??? A????? ????? Ž? ?????
? 8???????? 18.84 15.03
? l???????? ??? ????? 9.65 14.55
? C??? ????????? 8.02 -
1Ž??? Ž? 1??????? ?????? (A) 29,989.03 25,892.10
8? I????????? ??????
??? CŽ?????? ?Ž?????
? u????Ž??? 106.22 5.69
- Acquired 1,354.98 879.61
??? 1???????? ??Ž??Ž?
? u????Ž??? 3,736.27 292.42
- Acquired 1,338.00 843.63
1Ž??? Ž? I????????? ?????? (B) 6,535.47 2,021.35
C? L???? 1??????? ??Ž? k???????Ž? k??????
?8???? ?Ž?? ????? ??? ?Ž ??? l???????? S??????????
?C? 1,243.18 1,170.35
1Ž??? ?A ? 8 ? C? 35,281.32 26,743.10
NŽ???
l????????? ?????? ???????? ?? ??? ??Ž??
? l? Þ???? ??? ????????? 200.27 333.44
? l? C??? ????????? - 0.26
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 76
???? ?????
March 31, 2012
???? ?????
March 31, 2011
??? C1nLk LxÞLNSLS ` Lakhs ` Lakhs
??? CŽ??????Ž? Ž? ??Ž??? ??? ?ŽŽ?? 7,108.62 6,602.55
??? ÞŽ??? ??? ???? 7,674.55 6,518.51
??? 8??? 1,377.98 2,028.74
??? 8?????? ??? ???????????
? 8???????? 2,783.76 1,765.94
? Þ???? ??? ????????? 9,967.27 8,603.59
??? l???????? 748.90 650.25
??? 8???? ??? ?????? ????????? ????? Ž? ???Ž?? 680.06 527.02
??? S?????? ??? ???????????Ž? ???????? ? ??? 33,836.94 22,707.14
??? S?????? ??? ??Ž???? ????????? 16,482.15 15,173.63
??? Þ?????? ??? ?Ž???????? ??????? 23,221.23 14,399.15
??? 8??????? ??? ?????Ž????? 6,943.65 4,757.35
??? u??????Ž? ?? ????? Ž? ??????????? 26.54 -
??? 8?? ??? ?Ž????? ????? ? ???????? ??Ž????? ? ???????Ž? ?n?? Ž? ???Ž????? 218.00 60.01
111,069.65 83,793.88
L???? L??????? ??????????? 703.64 689.73
110,366.01 83,104.15
1. 8????
??? ???????? ??Ž?????Ž? Ž? ?Ž?? ? ????? Ž? ??????Ž?? ?????? 8?? ?????? ?????
?????? 8?????????? ?????? ?? ??????? ?? ???????? Ž? 8?? ?????? ?????
?????? ???????? ?????? ??Ž? 8???????Ž? ???????? ? 8???? nŽ?? ????? ??? ?
184.24 408.06
??? ?? ???? ????? ???? Ž? 8?? ?????? ????? ?????????? ?Ž ???????
?????? ? 8???? nŽ?? ????? ??? ?
2. S?????? ??? ???????????Ž? ???????? ????????
? u?????Ž??? ????? ???? 20.60 19.20
? CŽ??????Ž? ?Ž nŽ??W?Ž????? u?????Ž?? 287.24 -
???? LxCLÞ1ICNAL I1LMS?
?? Þ?Ž?? Ž? ???? Ž? NŽ??C?????? I??????????
? P?????? L?????? l?????? L?????? 14,440.00 -
? u?????? 1????Ž?Ž???? L?????? 1,576.00 -
16,016.00 -
?? ?LŽ??? Ž? ???? Ž? NŽ??C?????? I??????????
? AvlA A??Ž? L?????? MŽ?Ž?? ????Ž ??????????? -
? A????? 8?Ž?l???? L?????? ???????? -
? A????? 1?????Ž?? S??????? L?????? ???????? -
??????????? -
Þ?Ž?? Ž? ????Ž??? Ž? NŽ??C?????? I?????????? ? ??? 159.78 -
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 77
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
2012 2011
3.1 I??Ž????Ž? ????????? I??Ž??? ??????? ` Lakhs ` Lakhs
?? 8?? ????????? 44,039.02 44,459.36
?? 1?????? ?ŽŽ?? ??? Ž????? 2,151.80 1,634.65
?? S????? ??? ?ŽŽ?? 1,568.08 1,006.79
?? C?????? ????? 17,256.37 9,241.35
65,015.27 56,342.15
3.2. IŽ????? ???????? ????????Ž?? ??? Ž???? ???????? ???Ž????Ž?
3.2.1 L?????????? ???????? ?? ?Ž????? ????????
?? 8Ž????? 245.00 141.08
?? 1???????? ??Ž??Ž? 720.14 2,452.74
?? Þ?Ž?????Ž??? ??? ?Ž???????Ž? ???? 654.38 1,145.46
?? l??????? ??? ?Ž???????? ??????? 7,986.79 6,189.83
?? CŽ??????Ž? Ž? ????? 15,434.60 12,059.78
?? 8??????? ??? ?????Ž????? 1,488.93 550.83
?? 1????? 485.99 448.71
?? C???? ????????
? l?????? ??????? 2,914.63 2,056.03
? Þ?Ž???? ???????? 851.85 514.58
- Others 1,979.30 760.85
5,745.78 3,331.46
32,761.61 26,319.89
3.2.2 u??????? ??????? ?? ?Ž????? ???????? ?
?? n????? Ž? ?Ž?????????? ??????Ž????? 1 1
?? n????? Ž? ?????? Ž? ????? ???????? ??? ??????? 44,11,66,680 44,11,66,680
?? u??????? ??????? ?????? ??? ???? ??????? ?Ž ???
?????Ž?? ????
8,823.33 6,617.50
? u??????? ???? ?Ž Ž???? nŽ??8??????? ??????Ž????? ??
?? l????? 8?????
3.2.3 L??????? ?? ?Ž????? ????????
?? L??Ž?? Ž? ?ŽŽ?? ? lC8 ????? 154,035.97 110,909.12
?? 8Ž?????? ??Ž???Ž?? ??Ž?????Ž??? ??? ?Ž???????Ž? ???? 1,122.48 -
?? l??????? ??? ???????? 903.82 880.49
?? C????? ?l??????? ???????? ????????? ???
?Ž??????Ž? ???????
8,533.10 5,866.93
164,595.37 117,656.54
ASHOK LEYLAND LIMITED 78
2012 2011
` Lakhs ` Lakhs
3.2.4 A????Ž??? ?????????Ž?
l??????? ????? S?????? ??? ???????????Ž? ???????? ? ??? ? 8???? nŽ?? ? ??? ?Ž
??? l???????? S??????????
?? lŽ? ???????? ????? 50.00 50.00
?? lŽ? ?Ž?? ????? 2.00 2.00
?? lŽ? ?????Ž? ?????? 8.50 8.50
?? lŽ? CŽ????? ??? ?????? 0.50 0.50
?? lŽ? Ž???? ???????? ? ?????? Ž? ???Ž????? ????????Ž? ?Ž??? ???? 46.60 31.33
?? lŽ? ????????????? Ž? ???????? 2.59 7.76
3.2.5 1Ž??? 8??????? ??? ?????Ž????? ?Ž??? ??????? ?Ž ??? S???????? Ž? Þ?Ž?? ???
LŽ?? ?????????? ??Ž??? ??Ž?? ????? nŽ?? ??? ?Ž ??? l???????? S??????????
28,198.34 20,489.68
3.2.6 l????? Ž? ???????? ?????? ? ?Ž?? ?Ž? ??? ???? ?? ??? S???????? Ž? Þ?Ž?? ???
Loss due to:
?? 1???????Ž? ? S???????? 1,660.07 581.55
?? A?Ž?????Ž? Ž? ???????? ?????????? 168.88 122.76
?? u????????Ž? Ž? ???????? ?????????? ??????????? 1,377.33 269.41
3.2.7 CŽ??????? ??????????
?? C????? ??????? ??? CŽ????? ?Ž? ????Ž??????? ?? ????? ????? ? S???? ??? 3,114.08 3,194.78
- Others 2,865.19 2,722.75
?? C????????? 47,593.90 37,925.49
?? 8???? ????Ž????? - 243.90
1?? Ž???Ž? ?? ??????? Ž? ??? ??Ž?? ?? ?Ž? ?????????? ?Ž ????????? ?? ????
Ž? ??? ???????????? ???Ž?????
3.2.8 ?? C?????? ?Ž????????? ???? Ž? ????????? ?Ž? ??Ž????? ?Ž? ??????????
8?????????? L???? ??????8? ?????? L????? ?? ??????? Ž? l????????? ???????
45,018.73 44,089.98
?? u??????? L???????? Ž? Þ????? ???? ?????? ? ??????????? 0.14 0.14
3.2.9 ?? U????? ???? Ž? 1??????? ??? I????????? A????? U????? ???? ????? U????? ???? ?????
??? U????? ???? ?Ž??? ???? ???? ??????? ??Ž? ??? ????? ???????? ??
S??????? xIV ?Ž ??? CŽ??????? A??? ????
?? 8???????? ? 8??????? ????????? ??? ??????????? Ž??? ??? ???????
?????? ???? ?? ?????????? ?? ??? ????????
?? nŽ??????Ž?? ??????? ?????????Ž??
??? l? C???Ž??? ???????? 12 12
???? L???? ????Ž??????? 3 3
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 79
2012 2011
` Lakhs ` Lakhs
?? Þ???? ??? ?????????
??? A????? ??????? ?Ž ?????????? ? ??????? ???????? ??Ž???
Ž??? ??? ????????? ?????? ????
???? W???????? 12 12
?? l???????? ??? ????? 8 8
2012 2011
u????? ???? ????? u????? ???? ?????
?? l???????? ??? ????? ? ????? ????Ž??????? 3 3
?? C??? ????????? 8 8
?? C??? ????????? ? u??? ??Ž??????? ?????? 5 5
?? v???????
??? C??? ??? ?Ž?Ž??????? 3 3
???? 1????? ??? ????? 5 5
(2) U????? ???? ?Ž? ?????????? ?? S??????? xIV ?Ž ??? CŽ??????? A??? ????
l????????? ??????
?? CŽ?????? ?Ž?????
??? u????Ž??? 5 / 10 5
???? A??????? 5 5
?? 1???????? ??Ž??Ž?
??? u????Ž??? 6 6
???? A??????? 5 / 6 5 / 6
?? u????????Ž? ?Ž? ??? ???? ?Ž?????? Ž? ?????? ???????? ?? Ž? M???? ??? ???? Ž??? ??? ??????? ?????? ???? Ž?
???????? ???? ????Ž? ???????? ? ??? ?????? Ž? 8?????????? ????? ?????? 8?? ???????? ?????? ?8?????????? ?????
?????? 8?????????? ?????? ?? nŽ?? ??? ?Ž ??? l???????? S????????? ??? 8???????? ????? ?????? 8?????????? ??????
?? nŽ?? ??? ?Ž ??? l???????? S????????? ???????????? ????? ??? ?????? Ž??? ??? ?????????Ž? ?Ž?????? ?? ???
????Ž? ?Ž??Ž??? ?? ??? CŽ????? ???Ž? ?Ž ????????Ž??????Ž? Ž? ????? ?? ??????? Ž? ??????Ž?? ???? ??? ??? ????
??? ???? ??????????? ??Ž? 8???????Ž? 8?????? ?Ž ??? S???????? Ž? Þ?Ž?? ??? LŽ???
?? 1?? CŽ????? ???? ?????? ??? ????? ?Ž????? ??? ????Ž? Ž? ??Ž?????Ž? Ž? ????? Ž? ??????Ž?? ???? ??Ž?
??Ž??? Ž? ?? ????? ??? ??? ????Ž? Ž? ??????? ?Ž ???? ????Ž? Ž? ??????? ?Ž ?? ?Ž ??Ž???? ? ?Ž?? ????Ž??????
?????????Ž? Ž? ??? ?Ž????? ??????? ??? ???????? ?Ž???Ž?? 1?? ?????? Ž? ??? ???? ?Ž??????Ž? ?? ? ????? ???? Ž?
?????? ??Ž?????Ž? Ž? 8???????? ????? ?????????? ?Ž ??????? ?????? P?? ??? ??????? ????Ž? ???? ?Ž??Ž???? ???
??Ž?????Ž? ?????? ?Ž? ??? ???? ?Ž??? ?? ?????? ?? 8???????? ?????? l?????? ????? ??? ??????Ž?? ???? ??? ????
???????? ?? ????? ????Ž?????? ????????????? ?Ž 8???????Ž? 8?????? ?? 8?????????? ????? ??? ???? ???? ????
?Ž?????Ž????? ??????Ž? ?? ??????????? ??Ž?????Ž? ??Ž??? ?Ž ?????? ??? ?????? ???????? ?? ??????? ??????
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 80
3.3. Earnings Per Share
2012 2011
Þ?Ž?? ???? ?????Ž? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ?? ??? 8?? ?????? ?A? 56,597.66 63,129.93
W??????? ??????? ?????? Ž? ?????? ?????? Ž?????????? ?ÞŽ?? 8Ž???? ?8? 2,660,676,634 2,660,676,634
8???? ??? u?????? ???????? ??? ????? ?l??? ????? 8?? ?? ??? 8??? ?A?8? 2.13 2.37
3.4.
S?????? ???Ž????Ž?
1?? CŽ??????? ??????? ??????? ?? ???????? ?? ???????? ??????? ????? Ž? ?????? Ž? ??Ž?????? ?????? ??????? ???
??? ???????? ???????? ???Ž???? ?????? ??? ???Ž????? ??????? ?? ???????? ????? Ž? ??? ??Ž????????? ?Ž???Ž? Ž?
??? ????Ž???? ?? ??? A??Ž????? S??????? ??? 1?? CŽ????? ?? ??????????? ??????? ?? ? ?????? ???????? ??????? ?????
?Ž???????? ???????? ??? ??????? ?Ž??Ž??????
1?? ?C?Ž????????? ???????? ??? ???? ?Ž???????? ?Ž? ?????Ž???? ?? ???Ž????? ????????
` Lakhs
Þ????????? ¥??? I? I???? C?????? I???? U????Ž????? 1Ž???
k?????? ??Ž? ???????? ????Ž???? 2012 1,216,271.35 149,575.82 - 1,365,847.17
2011 1,108,569.50 106,730.89 - 1,215,300.39
S?????? ?????? 2012 905,651.28 42,688.73 243,234.70 1,191,574.71
2011 856,399.26 16,527.29 186,404.90 1,059,331.45
C?????? ??????????? ?????? ??? ???? 2012 67,179.44 53.38 13,880.71 81,113.53
2011 44,150.46 - 4,003.73 48,154.19
?? 8?????? ??Ž? ???????? ????Ž???? ?Ž??????? Ž? ???Ž?? ??Ž? ???? Ž? ??Ž?????? ???????? ??? Ž???? Ž??????? ?????????
? 8???? nŽ?? ??? ?Ž ??? l???????? S????????? ?
?? C??????? ??Ž??? Ž? S?????? ?????? ?Ž??????? Ž? ?Ž? ? ??????? ?????? ??? ??????? ?????? ???????? ?Ž ???
????????? ????????? PŽ????? S?????? ?????? ?? l???? ???Ž ??????? ??????? ?Ž??Ž? ?????? ???? ?Ž ????????
??????? ?? ?Ž?? ???????? ??? ?Ž? ???????? Ž? ???Ž???Ž??
?? u????Ž????? ?????? ??? ??????? ??????????? ???????? ??????? ??? ?Ž? ??????? ?????? Ž???? ???? ?Ž???????? ?? ???
??Ž???
?? C?????? ??????????? ?????? ??? ???? ?????????? ??? ?????Ž?? ?Ž 1??????? ??? l????????? ?????? ??? ?Ž?????? ??
C?????? ?Ž?? ?? ??Ž??????
???? k?????? ????? ?????Ž????
?? L??? Ž? ?????? ????? ?Ž???Ž? ??????
nŽ????? cŽ?????
P?????? A??Ž?Ž??? L??????? u????? k????Ž?
M????? PŽ?????? SA
?PŽ????? CŽ????? Ž? P?????? A??Ž?Ž??? L??????? u????? k????Ž??
M????? u????Ž????? CŽ??Ž???Ž?? Þ?????
?PŽ????? CŽ????? Ž? M????? PŽ?????? SA?
A??? PŽ?????? SA
?PŽ????? CŽ????? Ž? M????? u????Ž????? CŽ??Ž???Ž?? Þ??????
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 81
?? C???? ??????? ??????
l???Ž? ????????????
P?????? lŽ??????? L??????
P?????? A??Ž CŽ??Ž????? L??????
P?????? A??Ž?Ž??? ?uk? L??????
Associates
A??Ž???? C??P? C??????
A??Ž???? l???? Þ?????? L??????
A????? A?????? L?????? ?????? ????????Ž??
A????? 8?Ž?l???? L?????? ............................................................................................ ? ???Ž M???? ?? ???? ?
A????? PŽ?????? L??????
A????? l?????????? L??????
A????? 1?????Ž?? S??????? L?????? ............................................................................ ? ???Ž M???? ??? ???? ?
A??Ž? L?????? u?????? S?????? L??????
A??Ž? L?????? ?uAL? LLC? 8?? A? k??????? uAL
A??Ž? L?????? ?uk? L?????? ............................................................................... ? ??Ž? nŽ?????? ??? ???? ?
A??Ž?Ž??? CŽ????? ??? CŽ??Ž????? L??????
A??? A??Ž? L?????? MŽ?Ž?? ????Ž? C???? 8??????? ..................................................... ? ???Ž M???? ??? ???? ?
u?????? 1????Ž?Ž???? L??????
u?????? 1????? ??? L?????????? S??????? l??? uSA
C??? A????? MŽ?Ž? L??????
P?????? L?????? l?????? L?????? .............................................................................. ? ???Ž M???? ??? ???? ?
l????? 1vS L??????
L???? A??Ž? L?????? L??????? S?? L????
M??????? 8????? S??????? L??????
Optare plc, UK
IŽ??? v???????
A????? A?????? l???? L??????
A??Ž?Ž??? l??Ž??Ž???? L??????
A??Ž? L?????? !Ž?? u???? CŽ???????Ž? L???????? CŽ????? Þ?????? L??????
A??Ž? L?????? n????? v??????? L??????
n????? A??Ž? L?????? ÞŽ???????? L??????
n????? A??Ž? L?????? 1????Ž?Ž???? L??????
k?? ?????????? ????Ž????
M?? 8 S?????????? L??????? v??? C???????
M?? v??Ž? k u?????? M??????? u?????Ž?
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 82
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NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 83
?? S????????? k?????? Þ???? 1???????Ž??
` Lakhs
C????Ž?? 2012 2011
1 Þ??????? Ž? ??? ????????? ??? ?Ž??Ž????? ? ??? Ž? CLNVA1 ? VA1?
?? A??Ž?Ž??? CŽ????? ??? CŽ??Ž????? L?????? Associate 6,814.78 8,516.09
??? l????? 1vS L?????? Associate 12,994.67 8,143.28
???? A????? A?????? l???? L?????? !Ž??? v?????? 3,445.39 2,402.69
??? A??Ž? L?????? n????? v??????? L?????? !Ž??? v?????? 17,420.63 -
2 S???? ??? S??????? ???? Ž? ??????
?? A??Ž? L?????? ?uAL? LLC Associate 16,057.21 10,150.40
??? C??? A????? MŽ?Ž? L?????? Associate 21,156.28 14,814.21
???? L???? A??Ž? L?????? L?????? Associate 73,095.20 39,464.72
??? A??Ž? L?????? n????? v??????? L?????? !Ž??? v?????? 705.13 9.12
?? A??Ž? L?????? !Ž?? u???? CŽ???????Ž? L???????? CŽ?????
Þ?????? L??????
!Ž??? v?????? 499.02 -
??? A????? A?????? l???? L?????? !Ž??? v?????? 232.83 0.45
???? n????? A??Ž? L?????? 1????Ž?Ž???? L?????? !Ž??? v?????? 323.27 112.09
3 C???? C??????? I??Ž??
?? A??Ž? L?????? n????? v??????? L?????? !Ž??? v?????? 2,516.24 -
??? n????? A??Ž? L?????? ÞŽ???????? L?????? !Ž??? v?????? 764.78 -
4 C???? L?????????? ???????? ? ????Ž??????
?? P?????? A??Ž?Ž??? L?????? PŽ????? CŽ????? 139.71 52.66
??? u?????? 1????Ž?Ž???? L?????? Associate 1,174.49 1,100.64
???? u?????? 1????? ??? L?????????? S??????? l??? Associate 640.54 -
??? A??Ž? L?????? !Ž?? u???? CŽ???????Ž? L???????? CŽ?????
Þ?????? L??????
!Ž??? v?????? ??????? ??????
?? A??Ž? L?????? n????? v??????? L?????? !Ž??? v?????? 318.57 ????????
5 A???????C?????? ???Ž??? ? N?? ???????? ? ? ???????? ?
?? A??Ž?Ž??? CŽ????? ??? CŽ??Ž????? L?????? Associate ???????? 1,050.31
??? A??Ž? L?????? n????? v??????? L?????? !Ž??? v?????? 20.87 -
6 I??????? ??? Ž???? ???Ž??
?? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? Associate 113.52 314.66
??? A??Ž???? C??P Associate 107.10 68.03
???? A??Ž?Ž??? CŽ????? ??? CŽ??Ž????? L?????? Associate 142.51 53.64
??? u?????? 1????? ??? L?????????? S??????? l??? Associate 457.91 395.81
?? n????? A??Ž? L?????? 1????Ž?Ž???? L?????? !Ž??? v?????? 57.41 281.35
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 84
` Lakhs
C????Ž?? 2012 2011
7 I??????? ???????
?? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? Associate 97.11 104.32
8 Dividend income
?? L???? A??Ž? L?????? L?????? Associate 134.19 62.40
9 A???????Ž? Ž? I??????????
?? A????? PŽ?????? L?????? Associate 17,634.00 13,883.00
??? A????? l?????????? L?????? Associate 17,808.00 14,000.00
???? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? Associate 2,377.23 13,066.96
??? P?????? L?????? l?????? L?????? Associate 2,000.00 10,200.00
?? C????? ???? uk Associate 817.54 5,025.24
??? A??Ž? L?????? n????? v??????? L?????? !Ž??? v?????? 3,822.00 13,283.70
???? n????? A??Ž? L?????? ÞŽ???????? L?????? !Ž??? v?????? 1,911.00 4,116.67
????? A??Ž? L?????? !Ž?? u???? CŽ???????Ž? L???????? CŽ?????
Þ?????? L??????
!Ž??? v?????? 1,850.00 1,312.74
10 D???Ž??? Ž? I??????????
?? A????? PŽ?????? L?????? Associate 11,801.27 -
??? A????? l?????????? L?????? Associate 11,801.27 -
???? C??? A????? MŽ?Ž? L?????? Associate 599.99 -
11 LŽ??? ????? ?? ??? CŽ?????
?? A??Ž???? C??P Associate 4,835.70 885.74
??? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? Associate 9,140.18 5,709.02
???? C????? ???? uk Associate 3,759.24 -
12 LŽ??? ?????? ?Ž ??? CŽ?????
?? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? Associate 11,793.72 27,078.74
??? A??Ž? L?????? ?uAL? LLC Associate 2,453.63 -
13 Þ??????? Ž? ?????
?? A??? A??Ž? L?????? MŽ?Ž?? ????Ž? Associate 72.28 1,337.81
14 S??? Ž? ?????
?? A??Ž?Ž??? l??Ž??Ž???? L?????? !Ž??? v?????? 11.60 -
15 G????????? ?????
?? C????? ???? uk Associate 9,696.95 -
16 k????????Ž? ?Ž ??? ?????????? ????Ž????
?? M?? 8 S????????? L??????? v??? C??????? 321.05 284.73
??? M?? v??Ž? k u????? M??????? u?????Ž? 248.34 104.11
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 85
?? D?????? Ž? A??????? ?? ??? ?????? Ž? LŽ??? ?????????? ???????? ???????? ?Ž A??Ž????? ?Ž???????
` Lakhs
2012 2011
N??? Ž? ??? A??Ž?????
C??????????
??Ž???
M?????? ?Ž??
Ž??????????
?????? ??? ????
C??????????
??Ž???
M?????? ?Ž??
Ž??????????
?????? ??? ????
Associates
A??Ž???? C??P 5,005.23 5,005.23 - 7,235.10
A??Ž? L?????? ?uAL? LLC 4,524.03 6,815.59 4,524.62 4,709.56
A??Ž?Ž??? CŽ????? ??? CŽ??Ž?????
Limited
1,200.00 1,500.00 1,380.85 1,380.85
AvlA A??Ž? L?????? MŽ?Ž?? ????Ž - 10,735.96 3,774.97 30,740.28
u?????? 1????Ž?Ž???? L?????? 923.00 923.00 - 28.23
u?????? 1????? ??? L?????????? S??????? l??? 7,376.88 7,700.23 6,020.33 6,353.78
l????? 1vS L?????? 95.00 95.00 95.00 95.00
Optare plc 2,606.64 2,606.64 - -
??? D????Ž????? ?? ??????? Ž? IŽ??? V???????
?? L??? Ž? ?Ž??? ????????
Sl
No.
n??? Ž? ??? !Ž??? v?????? n??? Ž? ??? 8???????
Þ?Ž?Ž??Ž?
Ž? Ž????????
????????
CŽ????? Ž?
????????? ?
l??Ž??Ž???Ž?
1 A??Ž? L?????? n????? v??????? L?????? M?????????? Ž? L???? CŽ???????? v??????? ?LCv? ?????? l????
2 n????? A??Ž? L?????? ÞŽ???????? L?????? M?????????? Ž? ??????? ?Ž? L???? CŽ????????
Vehicles
?????? l????
3 n????? A??Ž? L?????? 1????Ž?Ž???? L?????? u????Ž????? Ž? ??????? ???Ž?Ž??? ?????Ž?Ž?? ?????? l????
4 A??Ž? L?????? !Ž?? u???? CŽ???????Ž?
L???????? CŽ????? Þ?????? L??????
M?????????? Ž? ?Ž???????Ž? ?????????
?????? l????
5 A????? A?????? l???? L?????? M?????????? Ž? ???????? ???? ???????? ???
???????
?????? l????
6 A??Ž?Ž??? l??Ž??Ž???? L?????? u?????? ?????Ž????? ??? ??Ž??Ž? Ž? ???????
??????Ž???? ??Ž????? ?Ž? ??????Ž????Ž? ????Ž?
?????? l????
?? I???????? ???????? ?? ?Ž????? ?Ž???Ž???? ??????
` Lakhs
Sl
No
n??? Ž? ??? !Ž??? v??????
C?????? ?????? Ž?
C?????Ž?? ??? l?????????
Year
CŽ??????? ????? Ž?
Assets L????????? l??Ž?? L???????
As at March 31 lŽ? ??? ???? ????? M???? ??
1 A??Ž? L?????? n????? v??????? L?????? CŽ??????? ?Ž????????
??Ž????Ž?
2012 32,760.28 35,839.64 11,352.79 13,058.67
2011 16,001.97 17,375.73 205.35 312.59
2 n????? A??Ž? L?????? ÞŽ????????
Limited
CŽ??????? ?Ž????????
??Ž????Ž?
2012 8,852.51 9,555.45 3,093.66 3,555.01
2011 5,547.83 5,788.88 117.11 147.49
3 n????? A??Ž? L?????? 1????Ž?Ž????
Limited
CŽ??????? ?Ž????????
Ž?????Ž?
2012 5,347.33 11,232.99 1,722.73 3,305.95
2011 2,670.51 6,972.96 11.51 1,029.27
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 86
` Lakhs
Sl
No
n??? Ž? ??? !Ž??? v??????
C?????? ?????? Ž?
C?????Ž?? ??? l?????????
Year
CŽ??????? ????? Ž?
Assets L????????? l??Ž?? L???????
As at March 31 lŽ? ??? ???? ????? M???? ??
4 A??Ž? L?????? !Ž?? u???? CŽ???????Ž?
L???????? CŽ????? Þ?????? L??????
CŽ??????? ?Ž????????
??Ž????Ž?
2012 10,211.70 7,566.57 2,005.56 4,930.70
2011 7,222.23 3,501.96 9.37 463.89
5 A????? A?????? l???? L?????? S??Ž?? ???? Ž? Ž?????Ž? 2012 9,815.61 9,048.35 6,066.86 7,137.01
2011 9,353.94 8,024.28 4,700.34 5,773.04
6 A??Ž?Ž??? l??Ž??Ž???? L?????? C??????? CŽ????? 2012 870.65 345.91 293.03 576.42
2011 1,028.27 220.59 276.10 54.22
NŽ??? ?
?? CŽ??????? ??????????? ???????? ?? ?????Ž? ?Ž ???????? ?? ?Ž??? ???????? ?? Ž? M???? ??? ???? ?? 8?? n?? ?????? 8? n????
??? S???? ?? ?Ž??????? ?????????? Ž? ?Ž??? ???????? ?????????? ?Ž? ????? ??? CŽ????? ?? ?Ž????????? ?????? ?? ?? M???? ???
???? 8?? ???????? ????? ????? ? 8?? ?????? ???????
???? C?????? ?Ž????????? ?? ?????Ž? ?Ž ????????? ?? ?Ž??? ???????? ?? Ž? M???? ??? ???? 8??n?? ?????? 8? n????
??? S???? ?? C?????? ?Ž????????? Ž? ?Ž??? ???????? ?????????? ?? Ž? M???? ??? ????? 8?? ????????? ????? ?????? 8?? ????????
???????
?? 1?? ???Ž????Ž? ????????? ??Ž?? ???? ?????? ?Ž ??? ???? ???? ?? ????? Ž? ????????? ?????? ???? ????????? ?Ž ???
CŽ??????
??? l?????? ????? ??Ž?? ????? ???????? ??? ????????? ??????
3.7 1?? CŽ????? ??? ????? Ž? ?????? ?????? ??????? ????????? 1?? ????? ?? ?Ž? ? ???? ????Ž? ??? ?? ?????????? ???? ???
?Ž????? Ž? ?Ž?? ??? ??????? 1???? ??? ?Ž ??????Ž??? ? ?????????? ?Ž??????? ?? ??? ????? ??????????
C???? ???????? ???Ž????Ž? ??????? ?Ž ??? ??Ž?? ????? ??? ?? ??????
l?? L????
Þ????????? 2012 2011
?? 1Ž??? Ž? ??????? ????? ????????
? 8????????? ?Ž? ????? ???? ? ???? 805.68 -
? 8????????? ????? ???? ? ???? ??? ?Ž? ????? ???? ? ????? 1,271.30 -
? 8????????? ????? ???? ? ????? - -
?? u??????? l?????? ???Ž?? 440.90 -
?? Þ?????? ????? Ž? ??????? ????? ????????
? 8????????? ?Ž? ????? ???? ? ???? 680.04 -
? 8????????? ????? ???? ? ???? ??? ?Ž? ????? ???? ? ????? 847.74 -
? 8????????? ????? ???? ? ????? - -
?? u??????????? ???????? ????? - -
?? A?????????? ??Ž????Ž? ?Ž? ???Ž???????? ??????? ????? ???????? ?????????? - -
?? CŽ??????? ????? ???Ž?????? ?? S???????? Ž? Þ?Ž?? ??? LŽ?? ?????? ??? ???? - -
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 87
??? D?????????
1?? CŽ????? ???? ????????? ???????? ??????????? ???? ?? ?Ž????? ?Ž???????? ???????? ???? ?Ž ????? ??????? ????????
???Ž?????? ??????? ??? ??????????? ???Ž??????? ?Ž???? ?? uS ?Ž?????? Lu8C? !??????? ?Ln ??? C???? 8?????? ÞŽ?????
C???????? ???? ?Ž??????? ??? ????? ?Ž? ???Ž????? ????????????? ?? ??? ???? ?????? ?Ž????? 1?? CŽ????? ??????? ???????
??? ???????? ? ???????? ???? ???Ž????? ???Ž??? ? ??????????? ???????? ??????Ž? ??? ???? ?????????? ?Ž ??????? ??? ???? ??Ž?
???? ???Ž?????? 1?? ??? Ž? ????????? ??????????? ?? ??????? ?Ž ?????? ??? ??????? ?Ž???Ž???? ?? ????Ž?????? ?????? Ž?
??????????? 1?? ?????? ??? ?Ž???Ž???? ??????? ??? ????Ž??????? ???????? ?? ?????????? ??? ??? 8Ž???? 1?? ??????
???? Ž? ?????????? ?? ???????? ?? ??????? ?? ??? ??????Ž? Ž? ?????????? ??????? ?????????? Ž? ????????Ž??? ?? ??????????
??? ???? Ž??? ?Ž? ???? ???????????
1?? ???Ž????Ž? Ž? ????????? ?????????? ?? ?? ?Ž??Ž???
A? D???????? ??????????? Ž???????????
l?? M????Ž?
Details Details C??????? A?Ž??? ?? ?Ž????? ????????
2012 2011
lŽ????? L??????? CŽ???????
- USD / INR Sold $ 138.10 43.13
- USD / INR 8Ž???? $ 116.55 46.79
- EUR / USD 8Ž???? € 2.08 1.50
- GBP / USD 8Ž???? £ - 0.50
- EURO / USD Sold € 1.00 1.50
? uSu ? !Þ? Sold $ 2.17 2.02
C??????? S????
? uSu ? !Þ? 8Ž???? $ 320.00 250.00
8???? l??? ?Ž???? ?? ?????????? ???Ž????? ?Ž?????? ?Ž? ??? ???Ž????? ????????? Ž? ???? ??????????
8? IŽ????? ???????? ???Ž????? ?Ž? ?????? ?? ? ????????? ??????????
Details C??????? A?Ž??? ?lŽ????? ???????? ?? M?Ž? A?Ž??? ` Lakhs
2012 2011 2012 2011
A?Ž??? ?????????? Ž? ???Ž??? Ž? ????
Ž? ?ŽŽ??? ?Ž???? ???Ž????? ????
$ 116.70 182.88 59,370.46 81,554.91
€ 7.46 - 5,062.38 -
£ 3.22 - 2,621.89 -
A?Ž??? ??????? Ž? ???Ž??? Ž?
???????? Ž? ?ŽŽ???
?Ž???? ???????? ????
$ 371.73 332.45 189,115.75 148,255.60
€ 10.86 10.67 7,370.43 6,764.51
¥ 1,242.62 374.11 7,699.58 2,013.60
£ 3.28 0.53 2,672.66 382.38
CHF 0.02 - 11.33 -
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 88
??? A??Ž????? ?Ž? ?Ž?? ???? ?Ž?????? ????? ?? ?Ž????? ????????? ?Ž????? ?Ž??????? ??? A??????? ?????????? ?? ????
?Ž? ?????
????? L??????? ????????? ?? LŽ?? ???? ?Ž?????? ????? ?? ?Ž????? ????????
L??????? ????????? Ž? ????????Ž? Ž? ????????? Ž? ?Ž?? ???? ?Ž????? ???????? ?Ž?????? ????? ?? ????? ???????? ??Ž?
??Ž?? ?? ????? ???? ???? ???????? ???Ž???? Ž? A???? ?? ????? ?? ?Ž ??? ?? ?? ??????? ?Ž ????????Ž? Ž? ??????????? ??????
??? ???????? ?Ž ??? ?Ž?? Ž? ??? ??????? l? Ž???? ?????? ???? ???????? ?????????? ??? ??????????? ?? ?lŽ????? ????????
?Ž?????? ???? ????????Ž? ????????? ???Ž???? ??? ??Ž????? ?? ???Ž????Ž? ?? ???Ž?? Ž? ??????? ?? ???? ???? Ž???
??? ??????? ???? ??? ????????? Ž????? ??? ?Ž? ???Ž?? M???? ??? ???? ??Ž???? ??????? ?? M???? ??? ??????
M??????? Ž? CŽ??Ž???? A?????? CŽ???????? Ž? l????? ??? ?????? nŽ?????Ž? nŽ?C?S?8 ??? ?L? ????? u??????? ??? ?????
???????? ??? CŽ??????? ?A??Ž????? S???????? 8????? ???? ?? ??????? Ž? ??? ???????? ?????????? ??????? ????????
??Ž? A???? ?? ????? Ž? ???Ž???? Ž? ?Ž??????? ?Ž????? ???????? ?Ž?????? ?????? ?? ????????? ??? ??? ????Ž? ?Ž? ???
??Ž?????Ž? Ž? ??? ???? ?????????? ??Ž? ????Ž M???? ??? ????? ?Ž ????Ž M???? ??? ?????? 1?? ????Ž????? ???
???????? ????????? Ž? ???Ž??? Ž? ??? ??Ž?? ?? ? ???? Ž? 8? ?????? ????? ?? ?? M???? ??? ???? ?M???? ??? ????? n???
1?? ?????? Ž? ??Ž???? ??? ??Ž?? ???? nŽ?????Ž?? Ž? ??? ??????? ?Ž? ??? ???? ?? ? ??? ????????? ?????? ?????? Ž?
8? ?????? ????? ?Ž? ??? ???? ????? M???? ??? ?????
????? lŽ????? ?Ž??????? ??? A??????? ?????????? ?? ???? ?Ž? ??????
1?? CŽ????? ??? ??Ž???? ??? ?????????? Ž? A??Ž????? S??????? ?? ? l???????? ???????????? 8??Ž????Ž? ???
???????????? ?????? ?? ??? l??????? Ž? C???????? A??Ž??????? Ž? l????? ???? ????? ??Ž? A???? ?? ????? ?? ???????
Ž? ?Ž????? ?Ž??????? ?Ž? ??? ?Ž????????? ??? ?????? ??Ž????? ?Ž?????? ????????Ž?? ?????? ????????? ???????? ?Ž?
????????Ž? ?? ?C??? ?Ž? ???????? 1?? ????? ??? ?Ž???? Ž? ??????? C??? ?Ž? ?????? ??? ???Ž?????? ?? P???? 8??????
A??Ž??? ??? ??? ?????????? ?Ž?????? ????????Ž? Ž??????
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 89
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9

NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 90
`

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NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 91
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
?? C??????? ?? ???????????? ???Ž??? C?Ž?? ???????? ?????? ???? L??? l???????? CŽ??Ž???Ž? Ž? l????? 1?? ???????? ??????
Ž? ???? ?????? ?? ????? Ž? ?????? ????????Ž? ?? ??? ????????? Ž? ??? ????? ?Ž? ??? ??????? Ž??? ??? ????? ???? Ž? ???
??????? Ž??????Ž??
?? u????? ??? ????? ??? CŽ????? ??? ???Ž?????? ??? ?Ž??Ž???? ??Ž???? ?? ??? S???????? Ž? Þ?Ž?? ??? LŽ?? ?? nŽ?? ??? ?Ž
??? l???????? S?????????
? S??????? ??? ????? ??????? ?Ž????????? ???????? 8?? ?????? ????? ?????? 8?? ???????? ???????
? CŽ???????Ž? ?Ž ??Ž??????? ???????? ??? Ž???? ????? ??????? Þ?Ž?????? ???? ??? ?????? ?????Ž? 8?? ???????? ?????
?????? 8?????????? ??????? ????? ??????Ž? 8?? ???????? ????? ?????? 8?????????? ??????? ???????? 8?? ????????
????? ?????? 8?? ???????? ?????? ??? Ž???? ????? 8?? ???????? ????? ?????? 8?? ???????? ???????
? W?????? ???????? ??????? ?Ž???????Ž? ?Ž ????Ž??? ????? ????????? ???? 8?? ????? ????? ?????? 8?? ????? ???????
????????? ??????? ?? ? ???????? Ž? ??Ž????Ž? Ž? 8?? ????? ????? ?????? ? ?????? Ž? 8?? ?????? ?????? ??? Ž????
?????? ????Ž??? ??????? 8?? ?????? ????? ?????? 8?? ????? ???????
3.11 1?? ???Ž????Ž? ???????? ?Ž ?? ?????Ž??? ????? ??? M???Ž? S???? ??? M????? L?????????? u????Ž????? A??? ????
??? ???? ?????????? ?Ž ??? ?????? ???? ?????? ???? ???? ???????? Ž? ??? ????? Ž? ???Ž????Ž? ????????? ???? ???
CŽ?????? 1?? ??Ž??? Ž? ????????? ??? ???????? Ž?????????? ?????? ???? ? ?? ?? ????? ???Ž??
` lakhs
Þ????????? 2012 2011
?? Þ???????? A?Ž??? ???? ???? ???Ž????? ???? ?????? ??? ???? 5,095.20 -
??? A?Ž??? Ž? ???????? ??? ??? ??????? ?Ž? ??? ??????? ??????? Ž? Þ???????? ??Ž??? 33.97 -
???? Þ???????? ??Ž??? ????????? ?????? ?? ?? ???? ??? 715.35 -
??? l??????? ??? ??? ??????? Ž? ????????? ??Ž??? ?????? ?? ??? ???? ??? 28.27 -
?? 1Ž??? ??Ž??? Ž? ???????? ??????? ??? ?????? ?? ?? ???? ??? 62.24 -
3.12 u?????? Ž? ??????????? ???????? Ž? ????Ž??? 8??????? ??? u????Ž????? ?8 ? u? ????????? ????Ž??? ?? u????????? Ž?
S??????? ??? l????????? 8???????? M??????? Ž? S?????? ??? 1????Ž?Ž??? CŽ???????? Ž? l???? ????? S???Ž? ?? ??A8? Ž?
l??Ž?? 1?? A??? ?????
` lakhs
Þ????????? I??????? ?? NŽ??? ?Ž ??? I????????
S?????????
2012 2011
??? C?????? ???????????
??? L???
???? ??? ????
71.63 113.95
??? 8???????? 1,777.23 962.54
1,848.86 1,076.49
??? C?????? ?????????? 13,808.27 12,056.03
???? 8?????? ??????????? ?????
??? S????????W???? 2.6 10,867.35 9,607.22
??? M????????CŽ??????????S????? 2.3 7,469.88 4,907.52
??? u?????? 2.9 514.44 389.62
??? C???? ??????????? ????????
related to R&D
2.9 3,650.56 3,698.81
??? 1Ž??? ??????? ???????????
?1Ž??? Ž? ???? ??? ?Ž ???? ????
22,502.23 18,603.17
????? 1Ž??? k?D ??????????? Ž? ????Ž??? k ? D
????????? ?1Ž??? Ž? ??? ??? ??? ???? ????
36,310.50 30,659.20
???? L???? A?Ž??? ???????? ?? 8 ? u ????????? ??? ??? ??? 807.50 473.56
??? N?? ??Ž??? Ž? k ? D ??????????? ????? ? ???? 35,503.00 30,185.64
ASHOK LEYLAND LIMITED 92
` Lakhs
3.13 n?? C?????? ??? ??????? ?Ž? ??? ???? ?Ž??????? Ž?? 2012 2011
M?????? A???????? 1?? 14,030.00 15,970.90
L???? MA1 C????? L????????? 6,278.00 4,855.90
C?????? 1?? 7,752.00 11,115.00
???? D?????? Ž? LŽ?? 1??? 8Ž??Ž??????
` Lakhs
M???? ??? ???? M???? ??? ????
NŽ?
C??????
C??????
?????????
1Ž???
Þ????????? Ž? k??????Ž? ?
k????????
NŽ?
C??????
C??????
?????????
1Ž???
a. S?????? LŽ????
i. u???????? S?????
?????? AL ?? 15,000.00 - 15,000.00
8?? ????? ????? Ž? C??Ž??? ???
???? ??? 8?? ????? ????? ???? Ž?
C??Ž??? ??? ???? ??? ????
- - -
????? AL ?? 7,000.00 - 7,000.00 !??? ??? ???? 7,000.00 - 7,000.00
????? AL ?? 7,000.00 - 7,000.00 !??? ??? ???? 7,000.00 - 7,000.00
????? AL ?? 7,000.00 - 7,000.00 !??? ??? ???? 7,000.00 - 7,000.00
?????? AL ?? - - -
October 31, 2015, 2014, 2013,
???? ??? ????
12,000.00 3,000.00 15,000.00
36,000.00 - 36,000.00 33,000.00 3,000.00 36,000.00
ii. 1??? LŽ????
TL - 1 10,000.00 - 10,000.00
? ????? ??????????? Ž? l???????
?? ????? l??????? ??? ?????
l??????? ?? ?????
10,000.00 - 10,000.00
TL - 2 15,000.00 - 15,000.00
? ????? ??????????? Ž? !??? ??
2015, 2014, 2013
15,000.00 - 15,000.00
TL - 3 13,333.33 6,666.67 20,000.00
? ????? ??????????? Ž? M???? ???
2015, 2014, 2013
20,000.00 - 20,000.00
TL - 4 10,000.00 5,000.00 15,000.00
? ????? ??????????? Ž? nŽ??????
30, 2014, 2013, 2012
15,000.00 - 15,000.00
TL - 5 10,000.00 5,000.00 15,000.00
? ????? ??????????? Ž? nŽ??????
30, 2014, 2013, 2012
15,000.00 - 15,000.00
TL - 6 1,666.67 1,666.67 3,333.34
? ????? ??????????? Ž?
September 4, 2013, 2012, 2011
3,333.33 1,666.67 5,000.00
60,000.00 18,333.34 78,333.34 78,333.33 1,666.67 80,000.00
u????????? ??? ???? ?Ž??? ??Ž? ????? ?????????? 8?? ?????????? ????? ?????? 8???????????? ?????? ??? ??????? ?? ? ????
?????? Ž? ?????????? ????? Ž? ??? ?????? Ž? ??? CŽ????? ????????? ??????? ???Ž????? ??Ž?????? ??????????? ?????????? ???
?Ž????? ???? ?????? ????? ?? ??????? ??? ????????? Ž? ??? CŽ??????
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ANNUAL REPORT 2011-2012 93
` Lakhs
M???? ??? ???? M???? ??? ????
NŽ?
C??????
C??????
?????????
1Ž??? Þ????????? Ž? k???????? NŽ? C??????
C??????
?????????
1Ž???
iii.
S?????? L???????
commercial
?Ž??Ž???? ?
SECB - 1 - - -
? ??????????? Ž? !?????? ??? ?????
!??? ??? ????? u??????? ??? ????
??? !??? ??? ????
- 2,229.75 2,229.75
L??????? ?Ž???????? ?Ž??Ž???? ??Ž? ???? ?????????? ?Ž nlL ?????? 8?? ???????? ?????? ?? ??????? ?? ? ???? ?????? Ž? ???
A?????? Ž? ??? CŽ??????
?? U???????? LŽ????
i. LC8 LŽ???
ECB - 1 7,631.25 - 7,631.25
? ????? ??????????? Ž? !??? ?? ?????
2017, 2016
- - -
ECB - 2 12,718.75 - 12,718.75
? ????? ??????????? Ž? C??Ž??? ???
2017, 2016, 2015
- - -
ECB - 3 25,437.50 - 25,437.50
September 20,
2017 - Rs. 10,683.75 lakhs,
???? ? 8?? ???????? ?????? ???? ???
2014 - Rs. 2,543.75 lakhs each
- - -
ECB - 4 67,833.33 33,916.67 101,750.00
? ????? ??????????? Ž? !??? ???
2014, 2013, 2012
89,190.00 - 89,190.00
ECB - 5 1,695.83 1,695.83 3,391.66
? ????? ??????????? Ž? A????? ???
????? ???? ??? ????
2,973.00 1,486.50 4,459.50
ECB - 6 4,239.59 4,239.58 8,479.17
? ????? ??????????? Ž? !??? ??? ?????
???? ??? ????
7,432.50 3,716.25 11,148.75
ECB - 7 4,239.59 4,239.58 8,479.17
? ????? ??????????? Ž? !??? ???
????? ???? ??? ????
7,432.50 3,716.25 11,148.75
ECB - 8 1,695.83 1,695.83 3,391.66
? ????? ??????????? Ž? M?? ???
????? ???? ??? ????
2,973.00 1,486.50 4,459.50
ECB - 9 - 4,239.58 4,239.58
? ????? ??????????? Ž? M???? ??
???? ??? ????
3,716.25 3,716.25 7,432.50
125,491.67 50,027.07 175,518.74 113,717.25 14,121.75 127,839.00
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
ASHOK LEYLAND LIMITED 94
M???? ??? ???? M???? ??? ????
NŽ?
C??????
C??????
?????????
1Ž??? Þ????????? Ž? k???????? NŽ? C??????
C??????
?????????
1Ž???
ii.
l??????? ???? ?????
??? ?Ž???
Þ?Ž?????? l 1,435.77 1,181.74 2,617.51
v?????? ??Ž???? ????????? Ž? ?
?Ž????? ????? ?????? Ž? A???? ????
2,617.51 367.98 2,985.49
Þ?Ž?????? ll 5,256.40 186.63 5,443.03
v?????? ??Ž???? ????????? Ž? ?
?Ž????? ????? ?????? Ž? C??Ž???
2020
5,443.03 260.06 5,703.09
Þ?Ž?????? lll - - - - 59.94 59.94
6,692.17 1,368.37 8,060.54 8,060.54 687.98 8,748.52
iii.
LŽ?? ??Ž? l????????
???????Ž?
1,151.27 550.44 1,701.71
1?Ž ??????????? ????? ?????
?Ž???? ?? ???????? ???Ž??
1,701.71 307.50 2,009.21
nŽ? Ž?
???????????
l?????????
A?Ž???
(` L?????
Period
16 95.63
nŽ??????
30, 2012
to October
31, 2014
8 78.43
nŽ??????
30, 2011
to October
31, 2012
13 46.78
April 30,
2010 to
October
31, 2011
?1?? ??Ž?? 1??? ?Ž??? ??? L??????? CŽ???????? 8Ž??Ž????? ????? ??????? ????? Ž? ???????? ???? ??? ??????? ????
Ž? ???????? ?Ž??? ???Ž ?????? ??? ?????? 1?? ???????? ??????? ???? Ž? ???????? Ž? ????? ?Ž??? ??? ?? ??Ž??? ?? ???
???????
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
` Lakhs
ANNUAL REPORT 2011-2012 95
NOTES ANNEXED TO AND FORMING PART
OF THE FINANCIAL STATEMENTS
S????????? ?Ž ??? S???????? Ž? S????????? A??Ž????? ÞŽ?????? ??? nŽ??? ?Ž ??? l???????? S??????????
K. SRIDHARAN lŽ? ??? Ž? ?????? Ž? ??? 8Ž???
c???? l???????? O????
A.R.CHANDRASEKHARAN uPLL8A! C Plnuu!A R SESHASAYEE VINOD K DASARI
í??????? u?????Ž? ? cŽ????? 5???????? c??????? í??????? v??? c??????? Managing Director
M?? ??? ????
C??????
???? D?????? Ž? S?Ž?? 1??? 8Ž??Ž????? ???????????
M???? ???
???? A?Ž???
` L????
Þ????????? Ž?
k????????
M???? ??? ????
A?Ž???
` L????
S?Ž?? 1??? LŽ???
- STL 1 5,087.50 April 18, 2012 -
- STL 2 5,087.50 M?? ??? ???? -
10,175.00 -
3.16 1?? CŽ????? ??? ?????? ??? ???? ??????? ??? A??Ž????? ÞŽ???? ?Ž ?????? ??????????? Ž? ????? Ž? ?????????? ???????
??????? ?? S???????? Þ?????? ???Ž??? ??????? Ž? ??Ž?????? ??? ???? Ž??? ??? ????Ž? Ž? ??? ?Ž??Ž???? ???????Ž
?Ž??Ž???? 1?? ?????? Ž? ??? ???? ?????? Ž? ??? ??????? ?Ž? ??? ???? ?? ? ?Ž??? ?????? Ž? 8?? ????? ????? ?? ??? S????????
Ž? Þ?Ž?? ??? LŽ???
3.17 u????? ??? ???? ????? ?? M???? ????? ??? ??????? S??????? vl ?Ž???? ????? ??? CŽ??????? A?? ????? ??? ???Ž??
?????????? ?Ž ??? CŽ?????? ?Ž? ????????Ž? ??? ?????????Ž? Ž? ??? l???????? S?????????? A??Ž???????? ??? CŽ?????
??? ??????????? ? ????Ž????? ??????? ??? ?????Ž?? ???? ?????? ?? ???Ž?????? ???? ??? ???????????? ?????????? ?? ???
??????? ?????
ASHOK LEYLAND LIMITED 96
(Includes 32,92,00,140 shares in GDR Form) 50.98%
Residents (Individuals / Clearing Members) 10.65%
/Govt. Companies/UTI 12.77%
16.22%
Non-Resident Indians/ OCB / Corporate Bodies - Foreign /
0.93%
Corporate Bodies 5.41%
Mutual Funds 1.93% Trusts 0.02%
Banks 0.03%
Others - GDR 1.06%
SHARE PRICE MOVEMENT*
BSE - April 2011 to March 2012
NSE - April 2011 to March 2012
SHAREHOLDING PATTERN AS ON MARCH 31 , 2012
???? ?Ž??? ?????? ?????? ?? A????? ????
0
1000
2000
3000
4000
5000
6000
7000
0
20
40
60
80
Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12
60.65
53.10 53.00 53.50
52.45
27.90
27.45
28.85
27.05
28.00
30.60 30.50
51.50
45.75 45.30
47.75
22.80
24.25 23.75 24.10
20.00
22.05
25.05
26.90
5749.50
5560.15
5647.40
5482.00
5001.00
4943.25
5326.60
4832.05
4624.30
5199.25
5385.20
5295.55
S&P
CNX NIFTY
P
r
i
c
e

i
n

R
u
p
e
e
s
N
u
m
b
e
r
s
19135.96
18503.28
18845.87
18197.20 16676.75
16453.76
17705.01
16123.46
15454.92
17193.55
17752.68
17404.20
0
5000
10000
15000
20000
25000
Sensex
0
20
40
60
80
P
r
i
c
e

i
n

R
u
p
e
e
s
N
u
m
b
e
r
s
Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12
59.80
53.25
55.65
53.30
52.40
27.90
27.35
29.90
27.05
27.90
30.50 30.40
52.50
45.00 45.35
47.90
22.75
24.35
23.20
24.20
20.05
22.10
25.60
26.90
ANNUAL REPORT 2011-2012 97
A
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M
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s
ANNUAL REPORT 2011-2012 99
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doc_566304640.pdf