Ashok Leyland has reported a healthy start to FY26 with its Q1 results reflecting steady growth across key financial parameters. The company posted a net profit of ₹594 crore, marking a 13% increase compared to ₹526 crore in the same quarter last year. Revenue for Q1 stood at ₹8,725 crore, up 1.5% from ₹8,599 crore YoY. EBITDA rose 6.6% to ₹967 crore versus ₹911 crore in Q1 FY25, with margins improving to 11% from 10.6% a year ago.
In terms of market performance, the domestic Medium and Heavy Commercial Vehicle (MHCV) industry remained largely flat, given the high base in Q1 last year. Despite this, Ashok Leyland saw its MHCV truck volumes (excluding Defence) grow by 2%, boosting its market share from 28.9% to 30.7%. The MHCV bus segment (excluding EVs) recorded a 5% increase, reinforcing the company’s leadership in domestic bus sales.
Light Commercial Vehicle (LCV) volumes hit a record high for the quarter at 15,566 units, while exports grew an impressive 29% YoY, reaching 3,011 units. Strong contributions from Power Solutions, Aftermarket, and Defence segments further supported the company’s overall financial performance.
Shenu Agarwal, Managing Directar & CEO, Ashok Leyland, stated, “We are happy to report simultaneous increases in market share and operating margins. This reinforces our strategy to deliver profitable growth through superior products and best-in-class customer service. Our focus on growing our non-CV portfolio is also helping us deliver record performances in many quarters in a row. Our priority remains achieving mid-teen EBITDA margins in the medium term, while advancing our commitment to future -ready technologies.”
