Chennai: Ashok Leyland, the flagship company of the Hinduja Group and a leader in the Indian commercial vehicle market, has delivered its strongest-ever third-quarter performance, achieving record-breaking revenues, profits, and turning cash positive.
The company reported an all-time high Q3 net profit of Rs. 762 crore, reflecting a robust 31% growth compared to the same period last year. EBITDA also reached a record Rs. 1,211 crore, with a margin of 12.8%, marking the eighth consecutive quarter of double-digit EBITDA performance. Revenue surged to Rs. 9,479 crore, surpassing the previous year’s Q3 revenue of Rs. 9,273 crore.
Export volumes showed significant growth, rising by 33% to 4,151 units compared to 3,128 units in Q3 FY24. A major financial milestone was achieved as the company turned cash positive, with net cash of Rs. 958 crore at the end of the quarter, a sharp turnaround from a net debt position of Rs. 1,747 crore in Q3 FY24.
Ashok Leyland maintained its domestic market share in the Medium and Heavy Commercial Vehicle (MHCV) segment above 30% and continued its leadership in the bus segment. The recent launch of Saathi, the company’s entry into the light commercial vehicle (LCV) segment, is expected to unlock new customer segments.
At the Bharat Mobility Global Expo, Ashok Leyland showcased groundbreaking innovations, including the industry-first electric Port Terminal Tractor and India’s first 15-meter front-engine sleeper bus. Switch Mobility, the company’s electric vehicle arm, unveiled a concept electric truck in the 7.5T GVW range, marking another first in the segment.
Dheeraj Hinduja, Executive Chairman, expressed confidence in the company’s future, citing product excellence and international market growth. He highlighted continued investments in battery electric and alternate fuel technologies, with Switch maintaining a healthy order book and planning multiple product launches in the next year.
Shenu Agarwal, Managing Director & CEO, emphasized the revival of the MHCV market and the company’s strategy for profitable growth through premiumization, cost efficiency, and enhanced services. He underscored the potential for growth in non-commercial vehicle segments and expressed optimism about the commercial vehicle industry’s long-term prospects.
Ashok Leyland’s record-breaking Q3 performance underscores its strategic focus on innovation, market expansion, and financial resilience, positioning the company for sustained growth in the evolving automotive landscape.
