Ashok Leyland, the Indian flagship of the Hinduja Group, has announced its financial results for the third quarter of fiscal year 2026, showcasing a robust performance across key metrics. The company reported a consolidated net profit of ₹796 crore, a 4.5% increase compared to the same period last year. Revenue for the quarter stood at ₹11,534 crore, marking a significant 21.7% surge from ₹9,479 crore in the corresponding quarter of the previous year.

The company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also saw substantial growth, rising by 27% to ₹1,535 crore, compared to ₹1,211 crore in the same quarter last year. This performance marks the 12th consecutive quarter of double-digit EBITDA margins for Ashok Leyland. The EBITDA margin improved to 13.3% versus 12.8% year-on-year.

Ashok Leyland's volume growth in the Medium and Heavy Commercial Vehicle (MHCV) segment increased by 23% to 32,929 units. The Light Commercial Vehicle (LCV) segment also experienced strong growth, with volumes rising by 30% to 20,518 units. Export volumes also grew by 20% to 4,965 units during the quarter. Domestic MHCV market share remains above 30%, with market leadership maintained in the Bus segment at 40% share.

Despite the positive results, Ashok Leyland faced a one-time charge of ₹308 crore related to the implementation of new labor codes. The company's expenses also increased by 20.1%, primarily driven by a 19.2% rise in raw material costs.

The company's net cash position has improved significantly, reaching ₹2,619 crore at the end of the quarter, compared to ₹958 crore at the end of Q3 FY25.

Dheeraj Hinduja, Executive Chairman of Ashok Leyland, commented on the results, stating, "Market conditions continue to be favorable, and we are optimistic that this strength will sustain in the medium term across all our businesses, including MHCV, LCV, and Defence". He further added, "Our strong and consistent growth in volumes and profitability underscores the competitiveness of our portfolio, which delivers superior performance and customer value, reinforced by deep and effective customer engagement across all segments".

Ashok Leyland has recently introduced its all-new HIPPO and TAURUS product ranges. The company's performance in Q3 FY26 reflects a strong recovery in the commercial vehicle cycle and its focus on profitable growth.