Ashok Leyland posts Record Q1 Volumes, Revenue & Profits

Chennai, August 14, 2026: Ashok Leyland, the Indian flagship of the Hinduja Group, reported a record Q1 with highest ever Commercial Vehicles volume of 48,763 units vis-a-vis 44,238 units in the same period last year. Q1 revenue was also ever highest at Rs 9,634 Cr. vis-a-vis Rs. 8,725 Cr last year. The company also reported its highest ever Q1 PAT of Rs. 609 Cr. as against Rs. 594 Cr in the previous year. However, owing to rising material costs, EBITDA was at 10.1% for Q1 FY27 (Rs. 970 Cr) as against 11.1% (Rs. 970 Cr) in Q1FY26.

The Company strengthened its cash position with net cash of Rs. 2,252 Cr at end of Q1FY27, a positive swing of Rs. 1,432 Cr on YoY basis.

Ashok Leyland MHCV Truck volumes (excluding Defence) grew 15%. LCV domestic Q1 volume grew 21%. LCV volumes at 18,874 units were highest ever for Q1. The Exports volume in Q1 was at 2,461 units. The Power Solutions, Aftermarket and Defence businesses also contributed strongly to the financial performance.

In Q1 FY2027, the Company launched industry-first “Air Suspension Technology” in its Multi Axle trucks. This provides customers best-in-class payload and total cost of operations. The efforts on network expansion continued during the quarter with addition of 33 more touchpoints.

Mr. Dheeraj Hinduja, Chairman, Ashok Leyland, said "Ashok Leyland has delivered another strong quarter, underpinned by disciplined execution and effective cost management. Demand across key segments remains robust, and future prospects continue to be encouraging. We believe government initiatives such as Parivartan will further accelerate fleet modernization and support the long-term growth of the commercial vehicle industry. Our electric mobility subsidiary, Switch Mobility, continues to gain traction. We are strengthening our presence in international markets and the Defence business to diversify our growth drivers. With a strong product portfolio, and a customer-centric approach, we remain well positioned to create sustainable long-term value for all our stakeholders."

Mr. Shenu Agarwal, Managing Director & CEO, Ashok Leyland, added, "Indian CV industry remained buoyant in Q1 despite geopolitical headwinds. This demonstrates strong industry fundamentals, and sustained growth potential of the Indian CV industry. While rising material costs remain a concern, the company is taking several initiatives towards better price realization, rigorous cost saving efforts, product and business mix improvement, and opportunity-based inventory build-up. While addressing these near-term challenges, our long-term focus remains intact. We are resolutely pursuing the path of premiumization, working diligently on delighting our customers with superior products and services, and maintaining operational discipline.”

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