Dheeraj Hinduja, Chairman, Ashok Leyland | Photo Credit: BIJOY GHOSH

Ashok Leyland Ltd delivered the highest-ever quarterly and annual revenues and net profit. It reported an 11 per cent increase in consolidated net profit for the fourth quarter ended March 31, 2026, to ₹1,381 crore, as against ₹1,246 crore in the corresponding quarter of the previous year. Revenue was up by 16 per cent to ₹14,980 crore (₹12,868 crore).

For FY26, the company reported an 8 per cent increase in net profit to ₹3,566 crore (₹3,303 crore) on a 14 per cent increase in revenue to ₹44,007 crore (₹38,753 crore). The PAT is after a one-time charge of ₹308 crore owing to the new Labour Code, the company said.

The Board of Directors declared a second interim dividend of ₹2.50 per share (face value of ₹ 1/- per share). Together with the interim dividend declared and paid during Q3, the overall dividend for the year works out to ₹3.50 per share (350 per cent).

The company has appointed KM Balaji as Whole-Time Director & CFO.

Commercial vehicle and export volumes hit all-time high

Overall commercial vehicle (CV) volumes scaled a new all-time high of 220,437 units, surpassing the previous peak of 197,366 units achieved in FY19. The CV Volumes in FY26 were up 13 per cent from last year. Light commercial vehicle (LCV) volumes set a new benchmark, reaching 74,322 units, well above the earlier high of 66,633 units in FY24, says a release.

Export volumes also reached a historic high of 18,082 units, delivering a robust growth of 18.5 per cent over the previous year’s 15,255 units. The Power Solutions and Aftermarket businesses continued their strong momentum, posting impressive growth during the year, the release said.

Switch Mobility and finance arms post strong growth

The company’s major subsidiaries accelerated their growth journeys during FY26. Switch Mobility delivered a standout performance, with e-Bus volumes surging to 1,530 units, up 238 per cent year on year. The e-LCV volumes rose to 1,606 units, up 56 per cent. The revenue more than doubled to ₹1,807 crore, with PAT of ₹104 crore in FY26, against a loss of ₹62 crore in the previous year, the release said.

Hinduja Leyland Finance Limited (HLF - standalone) posted a 24 per cent growth in FY26 to achieve an AUM of ₹59,531 crore. HLF PAT is up by 20 per cent to ₹491 Cr. Hinduja Housing Finance (HHF - standalone) has grown its AUM by 15 per cent to ₹15,937 Cr, with PAT growing by 4 per cent to ₹387 crore, the company said.

Management highlights strong cash position and growth outlook

Dheeraj Hinduja, Chairman, Ashok Leyland Limited, in the release said, “Achieving these record-breaking milestones and delivering a strong financial performance across our businesses is a matter of immense pride for us. Our CV and export volumes were at an all-time high, reflecting the deep trust our customers place in us.”

Shenu Agarwal, Managing Director & CEO, Ashok Leyland Limited,, said, “A record cash surplus of nearly ₹6,000 crore provides us with significant firepower for enhanced investments in products, technology and future-ready solutions, while continuing to elevate the customer experience.” With three consecutive years of record performance, we are more confident than ever in our ability to strengthen our technology leadership, gain market share and further enhance price realisation through superior value delivery.”

Published on May 28, 2026