This state-of-the-art facility, spread across 70 acres, will be equipped with the latest manufacturing technology

It maintained its position as the leading bus manufacturer in the country, securing orders for over 3800 buses from State Transport Undertakings during the quarter. The growing bus market is anticipated to contribute significantly to overall industry volumes.

Shares of the company gained more than 100 per cent in the last six months.

The consolidated proforma revenue soared to Rs 1120 crore, marking a substantial 19.9 per cent quarter-on-quarter growth. The net profit for Q2FY24 reached Rs 20.5 crore, showcasing jump of 22 per cent year-on-year increase from Rs 16.8 crore in Q2FY23, and a notable surge of 182.11 per cent quarter-on-quarter increase from Rs. 7.26 crore in Q2FY23.

In a strategic move, Ashok Leyland Ltd, a key player in the commercial vehicle sector, has given the green light to invest a whopping Rs 1200 crore in Switch Mobility. This massive infusion will be facilitated through its holding company, Optare PLC in the UK, underlining Ashok Leyland's commitment to embracing the electric vehicle revolution.

Net profit of the company surged significantly by 747 per cent and stood at Rs 576 crore as against to Q1FY23.

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the total number of vehicles sold in June increased by 7 per cent compared to the previous year, contributing to a 5 per cent growth in cumulative sales for the month.

The shares of the company have a PE of 32x whereas the sectoral PE is 66x with a ROE of 20 per cent.

The order is from one of the largest logistics companies in India.