Chennai: Commercial vehicle manufacturer Ashok Leyland on Friday reported its highest-ever first-quarter volumes, revenue and profit, with consolidated commercial vehicle volumes rising to 48,763 units in the quarter ended June 30, 2026.
The Hinduja Group flagship had sold 44,238 commercial vehicles in the corresponding quarter last year.
Revenue for the first quarter of fiscal 2027 rose to a record Rs 9,634 crore from Rs 8,725 crore in the year-ago period, while profit after tax increased to an all-time high for the quarter at Rs 609 crore from Rs 594 crore.
However, EBITDA margin declined to 10.1 per cent in Q1 FY27 from 11.1 per cent a year earlier, mainly due to rising material costs. EBITDA stood at Rs 970 crore in both the quarters.
The company strengthened its balance sheet during the quarter, with net cash rising to Rs 2,252 crore at the end of Q1 FY27, representing a positive swing of Rs 1,432 crore from the year-ago period.
Ashok Leyland’s medium and heavy commercial vehicle truck volumes, excluding defence, grew 15 per cent during the quarter, while domestic light commercial vehicle volumes increased 21 per cent.
LCV volumes stood at a record 18,874 units for the first quarter. Exports during the period stood at 2,461 units. The company’s Power Solutions, Aftermarket and Defence businesses also contributed to its financial performance.
During the quarter, Ashok Leyland launched an industry-first air suspension technology for its multi-axle trucks, aimed at providing higher payload capability and lower total cost of operations.
The company also expanded its network by adding 33 new touchpoints during the quarter.
“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,” Chairman Dheeraj Hinduja said.
Managing Director and CEO Shenu Agarwal said the Indian commercial vehicle industry remained buoyant in the first quarter despite geopolitical headwinds, demonstrating strong fundamentals and sustained growth potential.
While rising material costs remain a concern, the company is focusing on better price realisation, cost savings, product and business mix improvement and opportunity-based inventory build-up, he added.
Agarwal said the company would continue to focus on premiumisation, customer-centric products and services and operational discipline.
The company also said its electric mobility subsidiary Switch Mobility continues to gain traction, while Ashok Leyland is strengthening its presence in international markets and the defence business to diversify its growth drivers.
