Ashok Leyland Results Analysis Q1FY26

Operating Revenue for Q1FY26 is Rs. 8,725 Crs.( highest ever Q1 revenue), flat growth YoY, Total Income is Rs. 8,777 Crs., flat to positive growth YoY, EBITDA is Rs. 970 Crs., 6.5% growth YoY, EBITDA Margin is 11.11% improved by 52 Basis points YoY, PBT Rs. 798 Crs., 13.7% growth YoY, PAT Rs. 594 Crs. 13% growth YoY. Company has recorded Q1 with highest ever CV volumes of 44,238 units MHCV Truck market share increase from 28.9% to 30.7%. MHCV Bus TIV (excluding EVs) grew by 5%. Ashok Leyland maintained its domestic market leadership position in MHCV buses. LCV domestic Q1 volume at 15,566 units were ever highest for the quarter. The Export volume in Q1 grew 29% YOY at 3,011 units. The Power Solutions, Aftermarket and Defence businesses also contributed strongly to the financial performance. On QoQ basis Op. Revenue is down by 26.7%, Total Income is down by 27%, EBITDA is down by 45.9%, PBT is down by 51.9% and PAT is also down by 52.3%.