Profit before tax (PBT) stood at Rs 797.73 crore in Q1 FY26, marking a growth of 13.72% over Rs 701.44 crore reported in the same quarter last year.

EBITDA rose by 6.47% YoY to Rs 970 crore in Q1 FY26. The EBITDA margin also improved to 11.1% in Q1 FY26, up from 10.6% reported in Q1 FY25. The Company continues to be cash positive at end of Q1 FY26 at Rs 821 crore.

The company stated that the domestic medium and heavy commercial vehicle (MHCV) industry remained almost flat due to the high base in last year’s Q1. Ashok Leyland’s MHCV truck volumes (excluding Defence) grew by 2%, with its year-on-year market share increasing from 28.9% to 30.7%. The MHCV bus total industry volume (excluding electric vehicles) grew by 5%, with Ashok Leyland maintaining its domestic market leadership position in MHCV buses.

Light commercial vehicle (LCV) domestic volumes reached an all-time high for Q1 at 15,566 units. Export volumes grew 29% YoY to 3,011 units. Additionally, the company’s Power Solutions, Aftermarket, and Defence businesses contributed strongly to the overall financial performance.

Dheeraj Hinduja, chairman, Ashok Leyland, said "Ashak Leyland has delivered a robust Ql performance, exceeding the expectations through effective market execution while maintaining rigorous cast management. Our electric mobility subsidiary, Switch Mobility, continues to gain good traction and has achieved positive EBITDA. We are redoubling our efforts in the international markets and Defence business. Reinforcing our product superiority and strong customer orientation, we are sharpening our focus to playa pivotal role in our industry. "

Shenu Agarwal, Managing Directar & CEO, Ashok Leyland, added, "We are happy to report simultaneous increases in market share and operating margins. This reinforces our strategy to deliver profitable growth through superior products and best-in-class customer service. Our focus on growing our non-CV portfolio is also helping us deliver record performances in many quarters in a row. Our priority remains achieving mid-teen EBITDA margins in the medium term, while advancing our commitment to future -ready technologies."

Meanwhile, the company’s board has approved the investments in its wholly owned subsidiaries, subject to requisite approvals and other regulatory requirements. These include an investment of up to Rs 5.70 crore in Vishwa Buses and Coaches, as equity, to be made in one or more tranches, and an investment of up to Rs 300 crore in Ohm Global Mobility, also as equity and to be made in one or more tranches.

Ashok Leyland is engaged in the manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings, and castings.