© ASHOK LEYLAND January 25,2017, "National tock Exchange of india Limited SE Limited Exchange Plaza PhirozeJeejeebhoy Towers C4, Block 6, Bandra Kula Complex Dalal street Bandra (€), Mumbai -4C0 051 Mumbai - 400 002 Scrip Code : ASHOKLEY Stock Symbol : $0047 Through : NEARS ‘Through: BSE Listing Centre Dear Sirs, ‘Sub: Outcome ofthe Board meeting Financial Results This is to inform that at the meeting held today, the Board of Directors of the ‘Company have approved the statement of standalone unaudited financial results for the quarter and nine menths ended December 31,2016. A copy of the Statement of Standalone Unauelted Financial Results along with Independent Auditors’ Review Report and a copy of Press Release being released in this egard are attached herewith ‘The meeting commenced at 2.00 pm, and concluded at _ 5:35 Pm. ‘The above Information will be made avallable on the Company’: website www. ashokleyland.com, Yours faithfully, for ASHOK LEYLAND UNATED {ase Encl 9/2 TSpitnnaz coo falter ean, «:scncasheeyardcom, ‘an Gutormasiicnoleswaataiina comINDEPENDENT AUDITORS? REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS, ‘TOTHE BOARD OF DIRECTORS OF ASHOK LEYLAND LIMITED 1. Weave eviowed th acompanying Statement of Standalone Unatulited Financial Results OfAASHOK LEYLAND LIMITED (he Company”), forthe qua and ine montis ded Decenber 31,2016 (he Statement”, being submited by the Company puss 10 the requirement of Region 33 of the SEB (Listing Obligations and Disclosure Reguirements) Regulations, 2015, s modified by Circular No, CIRICFD/FACI622016 baad July 5, 2016 “This Statement isthe esponsiliy othe Company's Management at pproved by the Board of Directors, has been propared in acordaee with the recognition and Ineasuretent pencils Ind down in Indian Accounting Standard 34 “Inerim Financial Reporting” ("nd AS 4", preseibed under Section 133 of the Compas Act, 2013 read svt elevant ules sed thereunder and othe accounting piel anes accepted in Thc, Oxe responsibilty to ise a report onthe Statement based on ou eve. 2. We conducted ue teview ofthe Staton in cordance with the Standard on Review Engagements (SRE) 2410 “Review of ltr Flaca Information Performed by the Independent AudKor of the Ei fed bythe lsiute of Chartered Accountants of Inia This Standard regres tht we plan and perm the review to aban moderate fssutanoe as to hter he Sate se of material misstatement. A review is iit ‘Primary tongue of Company personel and analytical pocedres applied onan ‘im ard hs provid less surance hen a aut. We have not perermed an at and, ‘scoring, we do mt expres an ai opinion. 3 Based on our review condted a sated above noting bas come to our ateaton that ‘auses us to belee tht the acompanying Statement, prepared in accordance withthe ‘fen Indian Assuming Strdare anwar accounting peiples generally acct in tnd, has ot cscloeed the infomation equed to be disclosed nts of Regulation 53} the SEMI (Lisag Oblgtions and Disloaure Requirements) Reultions, 2015, as ‘modified by CeularNo, CIRICFD/FACIS22016 due July 5,216, eluding te manner Inwhich its 0 be dselose, or fat tents ny material mistatement ForMS, Krshnaswani & Rajan For Deloitte Haskins & Sells LL Charred Accountants (Charred Accounts Fis Replsation No O13548 ls Registration No. 117366W/W-100018 Ms. arath Parr “Membeeship No. 31467 weNotes: o ° “Te above sandstone far rebuts were reviewed bythe Aust Commitee and then approved by the Board of Birecors atta mestng held on Janus 25,2017. The staery austors have conducted 8 lta revew of the above sandloneunaudtd nancial ests forthe que and rine months ended DDecomber3%, 2018 inclu cotesponding pars ana fr the year ended March 31,2016, “The Company dept ndan Accounting Standards ed AS) ram Ap, 2016 and accord above Handsome fnancllresuilshave bean pepareén accorance wih the recognition and measurement Pricples iid down nthe ad AS 34 ntrm Financial Reporting’ peseabed under Section 183 ofthe Compenoe Ac, 2013 road wih the relent ue lasved tereonet and the ether accountng princes ‘oneraly accosted i Ind “The Ind AS complantstanislore inauted fhancial esuts fr the coresponding quarter and nine month ended Docerbor 32075 and forth yar ended March 31,2016 have been stdin ers of ‘Secures Exchange Baad cna (SEB) cela no. CIUCFDFACIE22016 dated July 5,206. Recoil of Nat Prof reported under previous ldlan GAAP and in AS is as under Reintante ‘in| Nine montis | Waar onde Parculare sustaet| one | “esa Nt rot prvi nn GAAP oases] oxarsez | raa7758 aon ST Tooasr| —ri7e12m | Gaara aaa al One aaa Golowepsdcteceddewane caress’ | #6600] seas) 1050 on meas] assz0| 147310 aioe a Not Prot forthe period a parnd AS ziaroas | sxoetoo| s6ieeee Cer Comprnensive ncaa fa) war] aoe) szas Taal Conproieelvensare poring AS | aiavai7 | wagvisa| seer ‘The Company hes secad the option under Ind AS 101 “Festa Adoption of Indian Accounting ‘Standard ana hae contniad the pole) adoped for acceuing of exchange dferences arin from ttarslaon of fong tem fog cureney monetary Rems recognised Inthe financial statements upto tir ST 2010, Accunnjy. exchange force on tanslton of setlomert ot long tm forgn rene tena ame tts iret rom those a whi ey wore nly recorded or Ap 1 ‘207, eo far aa rlts aequiton of daprecable asso are ase 1 the coat ofthe assets In ‘ther cases, sich exchange dlferences, aria effective Ap , 2017, er accumuktes i “Foreign ‘curenay monetary tem tension lfeence aczourt” and amized by recognition as income oF ‘pons n each year ave te beiance tr il tlerent oor ut net beyond March 3, 2020.Thee, 2) Farign exchange (gigs relating to acouton of depreciable ase, captalod rng the noe Irons endod Gesember 31, 2016 aggregates Rs. 277109 hs [quar ended Decerber 31 2016 Rs (3699.00) las quater ended Seplember 30, 2016 Ris (97804) aks, quater ended ‘Bovernbot 21,20" Ra 83606 lhe ne mosthe ended December 31,2018 Re 6228.79 lk oar ended Mach 3, 2018 Rs 10489 95 ke) 1) Amerised net exchange siference In espet flora tr foreign cutency menetary Bom relating ‘har than aoqslon of epredble asses, charged tthe res for nne months endes December ‘tote = Re 1.508 a quater ended December 31,2018 Re Tso 82 Lae quae ended September 30, 2016 Re $18.25 athe quoror snes Docomber 39, 2015 86 17228 lah, nine ‘monthe ended Decor 31, 2015 Re 273.38 lakhs; year ended March 31,2016 Rs 770.7 lakhs) oo ©) The umamorted net eenange diference in respect of log form mnsaty tems eli to ther than seaustion of depresole seal, soos of Re. 340687 aks as at December 31 2010 [as = Decuria 31,2018 eof Re 2,310 30a, ab at March 31,2076 fee of 2.42858 ats] “The Company has curency and etre rate swap corr in respect of extn frelgn cureey lng {ein berowings Net excharge difrences an vetlemant and pored ond fat valuation (mart me) fave been cared! eedted to proft and loss or he porod and dscloved separsaly for beter Compara and understanding of he feu. (©) Tne Conpary cpaty engogedin ingle snes apna viz, cerca ees nd rats Sree eae ee ile viens soa aos est sysem (© Exceptional ta costo ein. Tas oreo tvean doe : - - : -| eszasse) Voare ep asi ‘pet otters in : -| (oom «1820000)) 529978 Silas oa : =a esa ESET ()Toxoxere compte Cue Tan Dele Ta (©The erene of anaarata fhe mere of na Fouts inte wih Ato Lyn Utes Tan Sere sage rt At Lod ies east fl Sopra 201 on wea ate Seco «2018 The seme as bao sowed by SesiseEscarge Soa ot mia eco cousin et ade ands eed ool otha Cour iedeate coche ce Tee Tata and vate reps Ses wate, (© tome of ne Setamen’ Ager wih fet Votre Pas Nskan Mor Company Lntes (tussen, the Campany aeqares Nesars sake in tee dont Vere Companies vz. Ashok Levand san Vatiles Limtes. Nesan Ashok ‘Leyand Powartan Umfed and Nisan Ashok Leyand ‘Fecmologes Lined mn‘Nowmber 2018, Conseqlonty, theo tee companies neve become Wiohy ‘pene sinsearos tho Company.‘ (10) The Company would be consldting and presenting its Consoidated Financial Statamerts a the ond of tho yesrte. men 1, 2017 (1) The Fares forthe previous period have been rcs reprcuped whetever necessay Forandan bea of tha Goard Place: Chonnt ‘VINOD KDASAR! Date January 25,2017 (CEO and Managing Decor oa SN Bs » @lana = et Eee 1) mtutawecrratereromengrsetencanyens | swe| noel mown] mone] smal +] gierermeeremnmtmetmmarnscannenet | smal amas] monn] sna] saa +] sapere att ten ei tat = se] om] ota] {ea ant te Apensumsammne remtreraes = ua RY© ASHOK LEYLAND ‘Aapkl Jeet. Hamari Jeet. PresRelease Ashok Leyland posts record Q3 revenue: Sales up 8%, Exports jump 11% Chennai, January 25,2017: Aehok Leyland, flagship of the Hindua Group, today reported the 3 FY 2016-17 results where coche record revenues and volumes Results fr 03 FY 2016.17 Revenues increase by 8% ta R.4723 Cras aginst R436 Cr, during same pero lst year Export volumes increased by 11% to 2942 numbers. Net profit stood at R18 88 cr, (R5.213.7 Ci after exceptional iter). EBITDA forthe quarter ws 10.9% 8 against 109% Inthe same period last year Sales volume in Medium and Heavy Commercial Vehicles (MBHCY] stood at 25285 units (23176) Results ofthe FY 2016-17 pio ended 31" December 2016 Revenue increased by 39%toRS14166 Cr, against R&.13756 Cr, same period last yea. [Net profit stood at Rs.77.07 Cr against Re 530.41 Cr same period lst year. after exceptional items) Mr. Vinod K, Dasari, Managing Director and Chief Exeetve Officer, Ashok Leyland Limited sad "Qi has been gute challenging, forthe industry, primaily due tothe steep Increase in material cost ‘Demonetisaton had an impact but the Industry recovering from Despite these challenges we have maintained heatny operating margin. Pre-buy in Q# owing to BS-V implementation in FY 2017-18 long with our reer Introductions in the IC segment ~ Guru (ruck) & Sunshine (Bus) and Lev segment Partner (Tu) and MIT (Bus) expected to have 2 very postive impact on our volumes the current quate.” ‘Mr. Gopal Mahadevan, Chel Financial Office, Ashok Leyland, added, “The prevang challenges in the market notwithstanding, we continue tobe focaed on profitable growth. We have maintained ‘dule-dgt EBIDTA despite absorbing the inereased input costs. We Nope to cose ths fscl on 8 positive note.” Hinduja Foundries has turned EBITDA poste inthe recent months and wear hopaful of getting all necessary approval by this yearend, Key sehievements and announcements in 3 FY 2016-17: Ashok Levan acquited 10% oumership Inthe three LCV IV's ‘ashok Leyland, Pantnagae was conferred the 2016 Deming Prize for the successful implementation of Tota tty Maragerent = FrstElecrie Bus Made in India uovelied For further information, plate contact: Sunil Gate, Head Corporate Communications; #91 9823099000; ¢ fl Sunilaate@ashokleland cor