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BRIEF-Ashok Leyland says impact of write-off of BS III inventories will be minimal
March 29, 2017 / 12:55 PM / 6 months ago

BRIEF-Ashok Leyland says impact of write-off of BS III inventories will be minimal

March 29 (Reuters) - Ashok Leyland Ltd

* Contrary to reports in media about co having to take a huge write-off of BS III inventories, co clarifies that in-fact impact will be minimal

* Says has sufficient capability and capacity to make BS IV vehicles

* Says “given the current demand, majority of the vehicles in the pipeline have already been sold”

* Says some more BS-III will be sold in next couple of days where co has customer orders

* Says for any other vehicles still leftover, co confirms that it will be able to easily upgrade them to bs iv at minimal cost

* Says of little inventory that co expect to remain beyond this, will export BS-III vehicles to other markets Source text - (“Contrary to the various reports in the media about Ashok Leyland having to take a huge write-off of BS III inventories, the Company clarifies that in-fact the impact will be minimal. Ashok Leyland has been making BS IV vehicles since 2010 and has sufficient capability and capacity to make BS IV vehicles. However, since BS IV Commercial Vehicles cannot run properly on BS III fuel - and such fuel is not available nationwide - our customers continued to buy BS III vehicles. Given the current demand, majority of the vehicles in the pipeline have already been sold. Some more will be sold in the next couple of days where we have customer orders. Of the little inventory that we expect to remain beyond this, we will export them to other markets where we have significant presence and still operate on BS III norms. Finally, for any other vehicles still leftover, the Company confirms that it will be able to easily upgrade them to BS IV at minimal cost.”) Further company coverage:

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