Ashok Leyland, the Indian flagship of the Hinduja Group, reported a record first quarter, achieving its highest-ever commercial vehicle (CV) volumes at 44,238 units, up 2% year-on-year (YoY), and its highest Q1 revenue at ₹8,725 crore, up 10% YoY. The company also posted its highest quarterly EBITDA of ₹970 crore, a 6.5% increase from ₹911 crore a year earlier, and profit after tax (PAT) of ₹594 crore, up 12.9% from ₹526 crore in the same period last year.
Total CV volumes reached a record 44,238 units. In the domestic medium and heavy commercial vehicle (MHCV) segment, truck volumes (excluding defence) grew 2%, lifting market share from 28.9% to 30.7%. MHCV bus volumes in the total industry (excluding EVs) grew 5%, with Ashok Leyland retaining its domestic leadership position.
Light commercial vehicle (LCV) sales in India reached 15,566 units, the highest ever for a first quarter. Exports rose 29% YoY to 3,011 units. The power solutions, aftermarket, and defence businesses also contributed strongly to performance.
The company ended the quarter with a cash surplus of ₹821 crore. Management said effective market execution, strict cost control, and contributions from non-CV segments supported the results. Subsidiary Switch Mobility, focused on electric vehicles, achieved positive EBITDA.
Chairman Dheeraj Hinduja said the company is increasing its focus on international markets and defence while reinforcing product strengths and customer orientation. Managing Director and CEO Shenu Agarwal said the goal remains to achieve mid-teen EBITDA margins over the medium term, alongside growth in future-ready technologies.