Staff Writer
Chennai: Commercial vehicle maker Ashok Leyland on Thursday reported its highest-ever annual revenues and profits for FY26, driven by robust growth in medium and heavy commercial vehicles, exports and electric mobility businesses.
The company posted revenues of Rs 44,007 crore for FY26, registering a 14 per cent increase over Rs 38,753 crore in the previous financial year.
Operating profit before tax (PBT) rose 22 per cent to Rs 5,163 crore during the fiscal, compared with Rs 4,245 crore in FY25, while profit after tax stood at Rs 3,566 crore against Rs 3,303 crore a year earlier.
The company said FY26 profit included a one-time charge of Rs 308 crore related to the new Labour Code.
EBITDA for FY26 increased to Rs 5,732 crore from Rs 4,931 crore in the previous year, while EBITDA margin improved to 13 per cent from 12.7 per cent.
For the March quarter, the company reported EBITDA of Rs 2,066 crore, up 15 per cent from Rs 1,791 crore in the year-ago period.
Quarterly operating PBT rose 14 per cent to Rs 1,909 crore from Rs 1,671 crore, while PAT increased 13 per cent to Rs 1,405 crore against Rs 1,246 crore in the corresponding quarter last fiscal.
Ashok Leyland said it generated cash of Rs 3,280 crore during the quarter and ended FY26 with net cash of Rs 5,899 crore, compared with Rs 4,242 crore at the end of FY25.
The company also declared a second interim dividend of Rs 2.50 per share for FY26. Overall commercial vehicle volumes rose to a record 220,437 units in FY26, surpassing the earlier peak of 197,366 units recorded in FY19. LCV volumes also hit a new high of 74,322 units during the year.
Export volumes grew 18.5 per cent to an all-time high of 18,082 units. Its electric mobility arm Switch Mobility posted strong growth during the year, with electric bus volumes rising 238 per cent to 1,530 units and e-LCV volumes increasing 56 per cent to 1,606 units.
Switch Mobility’s revenue more than doubled to Rs 1,807 crore in FY26, while it reported a profit after tax of Rs 104 crore against a loss of Rs 62 crore in the previous year.
Chairman Dheeraj Hinduja said the company’s defence order pipeline was at an all-time high and its entry into Indonesia would further strengthen its global ambitions.
Managing Director and CEO Shenu Agarwal said the company’s strong cash position would support future investments in products, technology and customer experience initiatives.
