Ashok Leyland Ltd, the flagship commercial vehicle company of the Hinduja Group, reported an 11% increase in consolidated net profit for the March quarter at ₹1,381 crore compared to the year-ago period, driven by record commercial vehicle volumes and growth across businesses.
Revenue from operations rose to ₹17,246 crore from ₹14,696 crore. Share of profit from associates and joint ventures stood at ₹35 crore against ₹12 crore in the corresponding period last year. The quarter also included an impact of ₹19 crore arising from new labour codes.
Record commercial vehicle and export volumes
The company achieved its highest-ever commercial vehicle sales of 220,437 units in FY26, surpassing the earlier peak of 197,366 units recorded in FY19. Overall CV volumes grew 13% year-on-year.
Light commercial vehicle volumes also touched a record 74,322 units, exceeding the previous high of 66,633 units in FY24. Export volumes climbed 18.5% to an all-time high of 18,082 units.
Ashok Leyland Ltd said its Power Solutions and Aftermarket businesses continued strong momentum during the year.
Electric mobility arm Switch Mobility Ltd recorded 238% growth in e-bus volumes at 1,530 units, while e-LCV volumes rose 56% to 1,606 units. Revenue more than doubled to ₹1,807 crore and the company reported a net profit of ₹104 crore against a loss of ₹62 crore earlier.
Focus on technology and global expansion
ALL Chairman Dheeraj Hinduja said the company achieved record milestones across businesses with strong traction in commercial vehicles, exports, power solutions, aftermarket and electric mobility.
“Our Defence order pipeline is at its all-time high, signifying ability to deliver superior growth in the coming years. Our entry into Indonesia gives further boost to our ambition in global markets,” he said.
Managing Director and CEO Shenu Agarwal said FY26 marked a defining year for the company with record revenue, EBITDA, profitability and cash generation.
“A record cash surplus of nearly ₹6,000 crore provides us with significant firepower for enhanced investments in products, technology and future-ready solutions,” he said.
The board declared a second interim dividend of ₹2.50 per share.