Ashok Leyland announced its best-ever third-quarter results for FY26, achieving all-time high Q3 revenues of ₹11,534 Cr, a 22% growth year-over-year. Q3 EBITDA reached an all-time high of ₹1,535 Cr (13.3%), marking the 12th consecutive quarter of double-digit EBITDA. Net profit was ₹796 Cr, despite a one-time charge of ₹308 Cr related to new Labour Codes.
Ashok Leyland Announces Landmark Q3 Results for FY26
Ashok Leyland, the Indian flagship of the Hinduja Group, reported a successive Q3 record for the period ended December 31, 2025, underscoring a focus on profitable growth across its portfolio.
Key Financial and Operational Highlights (Q3 FY26 vs Q3 FY25)
The results demonstrate significant performance improvements:
- Revenue: Recorded all-time high Q3 revenues of ₹11,534 Cr, growing 22% from ₹9,479 Cr.
- EBITDA: Achieved an all-time high Q3 EBITDA of ₹1,535 Cr (13.3%), marking a 27% growth from ₹1,211 Cr (12.8%). This is the 12th consecutive quarter of double-digit EBITDA.
- Net Profit: Q3 net profit stood at ₹796 Cr, an increase of 4% over the previous corresponding period. This figure factors in a one-time charge of ₹308 Cr towards the implementation of new Labour Codes.
- Net Cash Position: Improved significantly to a net cash of ₹2,619 Cr at quarter-end, up from ₹958 Cr at the end of Q3 FY25.
Volume Growth and Market Share Gains
The company successfully outpaced industry growth across its major segments:
- MHCV Volume: Grew by 23% to 32,929 units (vs. 26,692 units in Q3 FY25), leading to market share gain. Domestic MHCV market share remains above 30%, with market leadership maintained in the Bus segment at 40% share.
- LCV Volume: Increased by 30% to 20,518 units (vs. 15,754 units in Q3 FY25), also resulting in market share gain over VAHAN industry growth.
- Exports Volume: Increased by 20% to 4,965 units (vs. 4,151 units in Q3 FY25).
Product Launches and Strategic Outlook
Ashok Leyland recently introduced its all-new HIPPO and TAURUS product ranges, targeting the Tipper and Tractor Trailer segments. Executive Chairman, Mr. Dheeraj Hinduja, expressed optimism about sustaining growth, highlighting the strong order book for its electric vehicle arm, Switch, which achieved positive EBITDA and PAT over the first nine months.
Consolidated Financial Summary (Unaudited, ₹ Crores)
The overall consolidated results for the Nine Months Ended December 31, 2025, show Total Income at ₹39,529.60 Cr and Profit Before Tax at ₹3,215.01 Cr. Total Comprehensive Income attributable to owners was ₹2,724.67 Cr.
Standalone Financial Summary (Unaudited, ₹ Crores)
For the Nine Months Ended December 31, 2025, Standalone Total Income was ₹30,093.42 Cr and Profit Before Tax was ₹2,904.89 Cr. Profit for the period attributable to owners was ₹2,180.33 Cr.
Auditor’s Review Conclusion
The unaudited financial results were reviewed by the Audit Committee on February 10, 2026, and approved by the Board of Directors on February 11, 2026. The independent auditor, Price Waterhouse & Co Chartered Accountants LLP, concluded that based on their review, nothing caused them to believe that the results were not prepared in all material respects according to applicable standards.
Source: BSE
