Recording a 353 percent increase in the revenue for the first quarter of FY2021-22 at INR 29,510 million in comparison to the revenue generation of INR 6,510 million in the corresponding quarter of FY2020-21, Ashok Leyland is confident of a strong demand emerging post the second Covid-19 wave. Clocking export volumes of 1,437 units in the first quarter of FY2021-22, up 254 percent when compared to the export of 405 units in the first quarter of FY2020-21, the commercial vehicle manufacturer is concentrating on vaccination and the adherence of safety protocols to try and ensure that all its stakeholders stay protected from a potential third wave. Experiencing a 1,041 percent growth in domestic M&HCV volume in the first quarter of FY2021-22, which is almost twice than that of the industry growth volume at 562 percent during the same period, the company has reported a net loss of INR 28,20 million in the first quarter of FY2021-22 as against a net loss of INR 38.90 million in the corresponding quarter of FY2020-21. Selling 8,690 LCVs in the domestic market in the first quarter of FY2021-22, up 224 percent as compared to the sale of 2,686 LCVs in the corresponding quarter last fiscal, Ashok Leyland is closely observing the way the freight rates are shaping up. It is confident that freight rates will improve with higher availability of commercial vehicles once the Covid-19 subsidies and uncertainty fades. “We are hoping for the volumes to grow higher as the market gets better,” mentioned Mahadevan. “July (2021) has been a growth month,” he added. Stressing that they have had eight months of degrowth, Mahadevan said, “Economic growth will induce growth in CVs.”

CV trends
Working on a strategy for a robust domestic and exports growth, the commercial vehicle major is appointing dealers in Africa. Looking at gaining good traction in South East Asia, Ashok Leyland will launch new products in the LCV segment even though not in the immediate quarter. Buoyed by the international markets opening up and experiencing export thrust, the company is said to be testing an electric version of its LCV platform on which the Bada Dost is based in the UK. This vehicle is expected to be launched at the end of this fiscal or in the first half of the next fiscal. Of the opinion that electric vehicles are catching up, especially at the local point of use, on the encouragement of the governments, Mahadevan averred, “It is more to do with buses, but trucks will catch up.” Seeing a trend of petrol commercial vehicles in the low-tonnage segment of sub-1 tonne to 1.5 tonne, Mahadevan drew attention to the push on CNG. “We are ready in the LCV and ICV (segment),” he added. Of the firm belief that diesel vehicles will continue and the IC engine will coexist and not die overnight, Mahadevan said, “We are ready to cater to higher demand.” 
 

Watching closely how freight operators are able to pass on the fuel price hike to their end customers, Ashok Leyland is hoping that bus commute will pick up. A 40,000 units per annum market, according to Mahadevan, buses have been severely affected due to the Covid-19-led disruption. Delivering 40 electric buses to the city of Chandigarh recently (from where it has bagged an order to build and maintain e-buses with quick charging technology), Ashok Leyland is expecting pent-up demand to show up once normalcy returns. Also expecting demand to show up because of the need to ferry people without sacrificing social distancing norms, Mahadevan drew attention to their work towards further strengthening their position in the bus and LCV market segments. With the talk of schools reopening in regions where the Covid-19 infections are down, and the relaxation in Covid-19 norms in some region allowing more employees to return to their offices, bus demand is expected to improve post witnessing a sudden downfall mid-last year. Through the establishment of Switch Mobility, Ashok Leyland is keen to experience a speedier ride in the ‘cleaner and greener’ bus space. 
 

Managing costs and productivity 
Eyeing international markets like the US, Europe and Japan, the company, through the Switch Mobility subsidiary, has worked with a few consultants to make sure that its data points and numbers are on par with the current situation. Under Switch Mobility, it is developing new products to present an advantage of unique position in terms of value and premium positioning. For its Switch Mobility subsidiary that includes the erstwhile Optare of UK, Ashok Leyland has managed to get USD 18 million worth of investment from Dana Incorporated (Dana), a US-based manufacturer of drivetrain and e-propulsion systems. To do de-bottlenecking once enough demand is evident, Ashok Leyland, investing sufficiently in terms of capex, is confident of seeing early growth sprouts in LCVs. Therefore, if it were to do immediate capex investment, it would be in LCVs. Discussing with scrappage centres post the announcement of the scrappage policy, Ashok Leyland, the second-largest CV maker in the country, is witnessing good traction from its other business verticals like defence, power solutions and aftermarket. They are contributing to its top line. 
 

With the pace of vaccination picking up and positively setting in, Ashok Leyland is expecting a demand spike in commercial vehicles after the fear of a third Covid-19 wave is over. This, according to Mahadevan, could happen in the second half of this fiscal. Focusing on costs, productivity and middle level management, the commercial vehicle major is also concentrating on reducing its carbon footprint. Apart from announcing strategic steps to move towards net zero carbon mobility through Switch Mobility, Ashok Leyland, said Mahadevan, has formed an ESG committee of the Board. The committee will guide and propel the commercial vehicle manufacturer to achieve its sustainability agenda.
 

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Schaeffler India, a motion technology company, has named the winners of the 4^th edition of its Social Innovator Fellowship Programme. The initiative identifies and supports individuals aged 18–35 developing solutions for environmental and societal challenges.

The programme focuses on several key areas, including environmental sustainability, renewable energy, carbon neutrality, the circular economy and natural resource management.

Following a screening process and prototype demonstrations, 10 projects were selected from 172 eligible applications. Each winner received a grant of INR 175,000.

The winners will also participate in a 24-week hybrid mentorship programme at IIMA Ventures, part of the Indian Institute of Management Ahmedabad. This phase provides tools, frameworks and expert mentoring to prepare the solutions for the market and assist in scaling their impact.

Since July 2025, the programme received more than 460 registrations from 21 states across India, including Maharashtra, Karnataka, Tamil Nadu and Delhi. Out of these, 103 applicants were shortlisted for final assessment.

Harsha Kadam, MD and CEO, Schaeffler India, said, “Change is the only constant. In a dynamic world where environment and technology play a fundamental role to meet the evolving needs of the world’s populus, the Social Innovator Fellowship Program speaks volumes of Schaeffler’s commitment to ESG and building not just a technologically advanced business model but be sensitive to the environment we operate in. It is our commitment to building a sustainable future that drives us to keep supporting this program year on year. With the response rates from participants growing over the years it’s overwhelming to see the indomitable spirit where technology and human consciousness collaborate to build a better world."

"We are happy that program is designed to identify and empower young changemakers who are developing scalable, impactful, and technology-driven solutions. In doing so, Schaeffler aims to harness entrepreneurial spirit and provide a platform where innovators can translate their ideas into transformative actions that make a sustainable impact on society,” added Kadam.

The award ceremony featured representatives from academia and the development sector, including Professor Gurudas Nulkar from the Gokhale Institute of Politics and Economics, Munish Bhatia of India Accelerator, Dr Bharat Kakade from the BAIF Development Research Foundation and Ankur Sohanpal of IIMA Ventures.

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Italian design and engineering company Pininfarina has announced that its Board of Directors has appointed Paolo Dellacha as its new Chief Executive Officer and General Manager, effective immediately.

Dellacha, who joins the Board until the next Shareholders’ Meeting, previously served as the Chief Executive Officer of Automobili Pininfarina. The move is intended to strengthen company governance and leadership as the firm pursues business development and addresses industry challenges.

In a concurrent move, the Board of Directors has appointed Jay Noah Itzkowitz as Vice-Chairman of the Board.

“I am very pleased to welcome Paolo Dellacha. Paolo will bring strong energy and passion to his new role and thanks to his past experience, he will make a decisive contribution to continue driving Pininfarina’s growth, and execution of its strategic plans,” stated the company in a statement.

Paolo Dellacha, said, “I would like to thank the Chair and the Board of Directors for trusting me to lead Pininfarina into this new phase of growth. I approach this opportunity with enthusiasm, inspired by the strength of the Brand’s 95-years heritage of craftmanship and innovation. I deeply admire the passion and expertise of our people who have positioned Pininfarina at the pinnacle of automotive design, as well as in architecture, nautical, industrial and product design”.

The leadership changes are designed to support the development of future programmes and the global positioning of the Pininfarina brand. The company stated the transition will help leverage collaborations across the Group and consolidate its organisational foundations.

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R C Bhargava the Chairman of Maruti Suzuki India, the country’s largest passenger vehicle manufacturer, has been conferred ‘The ICSI Lifetime Achievement Award for Translating Excellence in Corporate Governance into Reality’ by The Institute of Company Secretaries of India (ICSI).

The commendation was presented by Dr Raj Bhushan Choudhary, Minister of State for Jal Shakti, and P T Usha, Member of Parliament and President of the Indian Olympic Association, during the ICSI National Awards for Excellence in Corporate Governance.

ICSI is a professional body established under an act of Parliament to regulate the profession of Company Secretaries. It functions under the jurisdiction of the Ministry of Corporate Affairs and contributes to government initiatives regarding socio-economic growth.

R C Bhargava, said, “This prestigious award has been awarded to me, but the reality is that this recognition would not have been possible without the participation of the Maruti Suzuki management and employees. Over four decades, they have maintained high standards of ethics and integrity, and by doing so, made the award possible. I am very grateful to all of them and dedicate the award to all members of the Maruti Suzuki family, past and present.”

“I believe good corporate governance requires the top management to clearly differentiate between right and wrong, implement this in all their own actions, act as trustees of the company assets, believe in team building, and look after the legitimate interests of all stakeholders,” added Bhargava.

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British energy major BP has announced that it’s Board has appointed Meg O’Neill as the company’s next Chief Executive Officer (CEO), effective 1 April 2026.

She will succeed Murray Auchincloss, who has stepped down from his position as CEO and director of the board, effective 18 December 2025. Carol Howle, currently Executive Vice-President for supply, trading and shipping, will serve as interim CEO until O’Neill joins the company. Auchincloss will remain in an advisory role until December 2026 to assist with the transition.

At present, O’Neill is the current CEO of Woodside Energy, a position she has held since 2021. During her tenure, she managed the acquisition of BHP Petroleum International. Prior to joining Woodside in 2018, she spent 23 years at ExxonMobil in technical and operational roles.

Albert Manifold, Chair of BP, said, “We are delighted to welcome Meg O’Neill to the BP team. Her proven track record of driving transformation, growth, and disciplined capital allocation makes her the right leader for bp. Her relentless focus on business improvement and financial discipline gives us high confidence in her ability to shape this great company for its next phase of growth and pursue significant strategic and financial opportunities.”

“Following a comprehensive succession planning process, the Board believes this transition creates an opportunity to accelerate our strategic vision to become a simpler, leaner, and more profitable company. Progress has been made in recent years, but increased rigor and diligence are required to make the necessary transformative changes to maximise value for our shareholders,” added Manifold.

Meg O’Neill, said, “BP plays a critical role in delivering energy to customers around the world. I am honoured to serve as the company’s next CEO. With an extraordinary portfolio of assets, BP has significant potential to reestablish market leadership and grow shareholder value. I look forward to working with the BP leadership team and colleagues worldwide to accelerate performance, advance safety, drive innovation and sustainability and do our part to meet the world’s energy needs.”

Murray Auchincloss, noted, “After more than three decades with BP, now is the right time to hand the reins to a new leader. When Albert became Chair, I expressed my openness to step down were an appropriate leader identified who could accelerate delivery of BP’S strategy. I am confident that BP is now well positioned for significant growth and I look forward to watching the company’s future progress and success under Meg’s leadership.”

The board confirmed that Howle’s appointment ensures continuity, citing her 25-year history with the firm.

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