Ashok Leyland Q4FY26 Results: PAT Rises 13% To ₹1,405 Crore, Revenue Hits Record High On Strong CV Demand

Ashok Leyland reported its highest-ever quarterly earnings for the March quarter of FY26, driven by robust demand across trucks, buses and light commercial vehicles. The Hinduja Group flagship posted record revenue, EBITDA and profit during the quarter while also ending the year with a stronger cash position.

For Q4FY26, Ashok Leyland reported revenue of ₹13,096 crore, marking a year-on-year increase of nearly 10%, compared with ₹11,907 crore in Q4FY25. The company’s EBITDA stood at ₹2,066 crore, up 15% from ₹1,791 crore a year ago. EBITDA margin improved to 15.8%, reflecting better operating leverage and cost management.

Profitability remained strong during the quarter. Profit after tax (PAT) came in at ₹1,405 crore, rising 13% YoY from ₹1,246 crore in the same period last year. Operating profit before tax (PBT) rose to ₹1,909 crore, up 14% from ₹1,671 crore. The company also generated ₹3,280 crore in cash during the quarter.

On the National Stock Exchange, Ashok Leyland share price fell by 3.84% to ₹157.34 at 12:51 PM on 27 May 2026.

FY26 Delivers Record Annual Financial Performance

For the full financial year FY26, Ashok Leyland delivered record annual numbers across all major financial parameters. Total revenue rose to ₹44,007 crore, compared with ₹38,753 crore in FY25, registering 14% growth. Annual EBITDA stood at ₹5,732 crore, with EBITDA margin improving to 13.0%, versus ₹4,931 crore and 12.7% margin last year.

Full-year operating PBT increased 22% to ₹5,163 crore, while PAT rose 8% to ₹3,566 crore, despite a one-time charge of ₹308 crore related to the implementation of the new labour code.

Commercial Vehicle Volumes And Cash Position Reach New Highs

Operationally, Ashok Leyland reported commercial vehicle volumes of 220,437 units in FY26, its highest ever, surpassing the earlier peak of 197,366 units seen in FY19. This represented 13% growth YoY. The company’s light commercial vehicle volumes reached 74,322 units, also a record high. Switch Mobility’s electric LCV business posted 56% growth, with volumes at 1,606 units.

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Ashok Leyland closed FY26 with net cash of ₹5,899 crore, up from ₹4,242 crore a year earlier. The board also approved an interim dividend of ₹2.50 per share following the strong quarterly performance.

Sources:

Ashok Leyland Press Release

Economic Times