Commercial Vehicles company Ashok Leyland announced Q4FY26 & FY26 results Standalone Financial Highlights: Revenue from Operations: Reached Rs 14,160.49 crore in Q4FY26, marking a YoY increase of 18.93% from Rs 11,906.71 crore in Q4FY25, and a QoQ growth of 22.77% from Rs 11,533.85 crore in Q3FY26. For FY26, revenue stood at Rs 44,007.03 crore, up 13.56% YoY compared to Rs 38,752.74 crore in FY25. Total Income: Stood at Rs 14,228.78 crore in Q4FY26, representing a YoY growth of 18.45% from Rs 12,012.64 crore in Q4FY25 and a QoQ increase of 22.73% from Rs 11,593.10 crore in Q3FY26. For the full year FY26, total income grew by 13.64% YoY to Rs 44,322.20 crore from Rs 39,002.99 crore in FY25. EBITDA: Reported at Rs 2,066 crore for Q4FY26, up 15% from Rs 1,791 crore in the same period last year. FY26 EBITDA reached an all-time high of Rs 5,732 crore (13.0% margin) compared to Rs 4,931 crore (12.7% margin) in FY25. Operating Profit Before Tax (Profit before exceptional items and tax): Recorded at Rs 1,909.13 crore in Q4FY26, registering a YoY increase of 14.26% from Rs 1,670.92 crore in Q4FY25, and a QoQ jump of 39.05% from Rs 1,372.98 crore in Q3FY26. For FY26, Operating PBT surged by 21.62% YoY to Rs 5,162.50 crore from Rs 4,244.56 crore in FY25. Profit After Tax (PAT): Achieved highest-ever quarterly PAT of Rs 1,404.72 crore in Q4FY26, up 12.75% YoY from Rs 1,245.87 crore in Q4FY25 and up 76.47% QoQ from Rs 796.02 crore in Q3FY26. FY26 PAT stood at Rs 3,565.53 crore (inclusive of a one-time charge of Rs 308.48 crore owing to the new Labor Code), reflecting an 8% YoY growth from Rs 3,303.29 crore in FY25. Consolidated Financial Highlights: Revenue from Operations: Reached Rs 17,246.44 crore in Q4FY26, up 17.36% YoY from Rs 14,695.55 crore in Q4FY25, and a QoQ increase of 16.29% from Rs 14,830.24 crore in Q3FY26. FY26 revenue was Rs 56,362.08 crore, showing a 16.13% YoY growth from Rs 48,535.14 crore in FY25. Total Income: Stood at Rs 17,417.30 crore in Q4FY26, an increase of 17.55% YoY from Rs 14,817.18 crore in Q4FY25 and up 16.03% QoQ from Rs 15,010.65 crore in Q3FY26. Total income for FY26 grew by 16.47% YoY to Rs 56,946.90 crore from Rs 48,893.60 crore in FY25. Profit Before Tax (PBT): Reported at Rs 1,939.78 crore in Q4FY26, representing a YoY growth of 19.69% from Rs 1,620.58 crore in Q4FY25 and a QoQ rise of 61.70% from Rs 1,199.59 crore in Q3FY26. FY26 PBT increased by 12.15% YoY to Rs 5,154.79 crore from Rs 4,596.33 crore in FY25. Profit After Tax (PAT): Recorded at Rs 1,381.32 crore in Q4FY26, up 10.87% YoY from Rs 1,245.92 crore in Q4FY25 and up 60.20% QoQ from Rs 862.24 crore in Q3FY26. FY26 PAT was Rs 3,720.98 crore, a YoY growth of 10.00% compared to Rs 3,382.79 crore in FY25. Business Highlights: Overall Volumes: Commercial Vehicle (CV) volumes scaled a new all-time high of 220,437 units in FY26 (a 13% YoY growth), surpassing the previous peak of 197,366 units achieved in FY19. Segment-Wise Performance: Commercial Vehicle: Segment revenue for Q4FY26 stood at Rs 15,087.23 crore, up 16.71% YoY and 18.14% QoQ. Segment profit for Q4FY26 was Rs 1,524.36 crore, up 9.75% YoY and 23.50% QoQ. For FY26, revenue was Rs 48,313.71 crore (up 14.13% YoY) with a profit of Rs 4,379.32 crore (up 18.71% YoY). Financial Services: Segment revenue for Q4FY26 was Rs 2,159.31 crore, up 22.04% YoY and 4.81% QoQ. Segment profit for Q4FY26 was Rs 342.59 crore, up 10.14% YoY and 58.92% QoQ. For FY26, revenue stood at Rs 8,049.34 crore (up 29.77% YoY) with a profit of Rs 949.58 crore (up 5.60% YoY). LCV and Export Volumes: LCV volumes set a new benchmark, reaching 74,322 units, well above the earlier high of 66,633 units. Export volumes also reached a historic high of 18,082 units, delivering a robust growth of 18.5% YoY over the previous year’s 15,255 units. Cash Position: Cash generated during Q4FY26 was Rs 3,280 crore. The Company ended the financial year with a net cash surplus of Rs 5,899 crore, up from Rs 4,242 crore at the end of the previous year. Subsidiary Performance: Switch Mobility: Delivered a standout performance with a 238% YoY surge in e-Bus volumes to 1,530 units and a 56% YoY growth in e-LCV volumes to 1,606 units. Revenue more than doubled to Rs 1,807 crore, generating a PAT of Rs 104 crore in FY26 against a loss of Rs 62 crore in the previous year. Hinduja Leyland Finance Limited (HLF - standalone): Posted a stellar 24% growth in FY26 to achieve an AUM of Rs 59,531 crore. PAT increased by 20% to Rs 491 crore. Hinduja Housing Finance (HHF - standalone): Grew its AUM by 15% to Rs 15,937 crore, with PAT growing by 4% to Rs 387 crore. Dividend: The Board of Directors declared a second interim dividend of Rs 2.50 per share (250%). Together with the interim dividend paid during Q3, the overall dividend for the year works out to Rs 3.50 per share (350%). Dheeraj Hinduja, Chairman, Ashok Leyland, 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. The Company delivered significant growth in Power Solutions, Aftermarket and Electric Mobility businesses. Our Defence order pipeline is at its all-time high, signifying ability to deliver superior growth in the coming years. Our entry into Indonesia gives further boost to our ambition in global markets. The record financial performance is backed by relentless innovation, unwavering focus on customer satisfaction, and ability to accelerate our ambition in global markets. We are well-positioned to sustain profitable growth and create long-term value.” Shenu Agarwal, Managing Director & CEO, Ashok Leyland, said: “FY26 has been a defining year for us, marked by record-breaking achievements across revenue, EBITDA, profitability and cash generation. Our strong margin expansion reflects the success of our premiumization strategy, the resilience of our operations, and the growing strength of our diversified business portfolio. A record cash surplus of nearly Rs. 6,000 crore provides us with significant firepower for enhanced investments in products, technology and future-ready solutions, while continuing to elevate customer experience. With consecutive three 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 realization through superior value delivery.” Result PDF