Ashok Leyland Q3 FY26: Record Rs 11,534 Cr Revenue, Rs 796 Cr Profit

Ashok Leyland has delivered their best ever third-quarter financial performance. The company reported an all-time high quarterly revenue of ₹11,534 crore. This marks a strong 22% year-on-year growth. Net profit also reached a record Q3 high of ₹796 crore.

Q3 Profit Rose Despite One-Time Labour Cost

The net profit of ₹796 crore represents a 4% increase over the same quarter last year. This growth was achieved after accounting for a one-time payment of ₹308 crore under the new Labour Code. The result underscores the company's underlying operational strength.

Ashok Leyland EBITDA Hit a 12th Straight Double-Digit Quarter

EBITDA for the quarter stood at ₹1,535 crore. The margin improved to 13.3%, up from 12.8% in Q3 FY25. This marks the 12th consecutive quarter of double-digit EBITDA. The consistent performance reflects disciplined cost management and profitable growth focus.

Ashok Leyland MHCV and SCV Sales Outpaced Industry Growth

The company's domestic performance was robust. MHCV volumes surged 23% to 32,929 units. SCV volumes jumped 30% to 20,518 units. Both segments grew faster than the overall industry. Ashok Leyland retained over 30% market share in MHCV and a dominant 40% share in the bus segment.

Ashok Leyland Exports Registered Strong 20% Growth

International business also delivered a solid performance. Export volumes increased by 20% year-on-year. The company sold 4,965 units in Q3 FY26 compared to 4,151 units in Q3 FY25. This growth supports Ashok Leyland's global expansion strategy.

Ashok Leyland Net Cash Position Strengthened Significantly

The company ended the quarter with a robust net cash balance of ₹2,619 crore. This is a substantial improvement from ₹958 crore in Q3 FY25. The strong cash position provides financial flexibility for future investments and growth initiatives.

Leadership Confident in Sustained Growth

Executive Chairman Dheeraj Hinduja stated that market conditions remain favourable. He expressed optimism about sustained strength across MHCV, SCV, and Defence businesses. The company is executing a pipeline of new products across conventional and alternative fuel platforms. Electric vehicle arm Switch Mobility has achieved positive EBITDA and PAT with a healthy order book.

Ashok Leyland CEO Cites GST Rationalisation

From Ashok Leyland's management team the Managing Director and CEO Shenu Agarwal highlighted the impact of GST rationalisation. He stated it has lowered prices and boosted freight demand, triggering a fresh replacement cycle. The company remains confident in medium to long-term industry growth. Strategy continues to focus on product premiumisation, cost competitiveness, and wider service coverage.

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