| Margins | EBITDA margin 10.1%; commodity headwinds expected to peak in Q2. |
|---|---|
| Order book | Switch Mobility has healthy order book of 2,100 e-buses. |
| Demand visibility | Strong momentum in June/July; positive sentiment for Q2. |
Growth
Q1 revenue rose 10% YoY to INR 9,634 crores; MHCV truck volume grew 15%; LCV offtake grew 21%.
Outlook
Capex planned at INR 900-1,000 crores for new technologies; expects high single-digit industry growth for FY27.
Risks
Elevated commodity prices and supply chain disruptions are impacting gross margins; GCC exports face logistical challenges.
Last quarter's promises, checked
Delivered
- Guided Switch India profitability → achieved net profitability in FY26 (= BEAT)
- Guided record LCV volumes → achieved highest ever 74,322 units (= BEAT)
- Guided teen EBITDA bracket → achieved 13% for full year (= BEAT)
Partly delivered
- Guided INR 1,000cr FY26 Capex → delivered INR 1,050cr (= PARTIAL)
- Guided 1% price hike recovery → recovered 1% but margins hit by 80bps material cost rise (= PARTIAL)
Missed
- Guided Q1 export normalization → volumes marginally lower due to logistics (= MISS)
Investor Presentation filed with NSE, NSE: ASHOKLEY. Summary written with AI assistance from the document.
Ashok Leyland Ltd: key numbers
- Share price
- ₹153.70
- Market cap
- ₹90,281 Cr
- Revenue (annual)
- ₹56,362 Cr
- Net profit (annual)
- ₹3,471 Cr
- P/E (TTM)
- 26.0×Sector 32.1×
- Promoter holding
- 51.51%+0.00% QoQ
- FII holding
- 20.67%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Ashok Leyland Ltd
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Ashok Leyland reported total sales of 21,038 units for August 2026, marking a 38% year-on-year growth. Domestic sales grew 43% to 19,438 units, driven by strong demand in the M&HCV segment.
Ashok Leyland Annual General Meeting
Ashok Leyland held its 77th Annual General Meeting on August 14, 2026. Shareholders transacted ordinary business, including the adoption of financial statements and final dividend confirmation.
Ashok Leyland Merger & Restructuring Worth ₹325 Cr
Ashok Leyland Limited is acquiring additional stake in its UK-based subsidiary, Optare Plc, for a cash consideration not exceeding ₹325 Crore.
- Value
- ₹325.0 Cr
- Execution
- 3/31/2027
Ashok Leyland Merger & Restructuring Worth ₹500 Cr
Ashok Leyland will acquire an 8.9% stake in Hinduja Housing Finance Limited for a cash consideration of ₹500 Crore.
- Value
- ₹500.0 Cr
Ashok Leyland Merger & Restructuring Worth ₹825 Cr
Ashok Leyland's board approved investments up to ₹325 Crore in subsidiary Optare Plc and ₹500 Crore in Hinduja Housing Finance Limited to strengthen its EV and housing finance presence.
- Value
- ₹825.0 Cr
- Execution
- March 31, 2027