Ashok Leyland Posts Record Q4 Profit of ₹1,405 Crore, Announces ₹3.50 Dividend
Commercial vehicle giant Ashok Leyland has reported its highest-ever quarterly net profit of ₹1,405 crore for the fourth quarter of FY26, marking a 13 per cent increase from ₹1,246 crore recorded in the same period last year. Revenue from operations rose 19 per cent to ₹14,160.49 crore, while EBITDA climbed 15 per cent to ₹2,066 crore. The company also generated cash worth ₹3,280 crore during the quarter. Chairman Dheeraj Hinduja attributed the strong performance to improved sales driven by the government’s GST 2.0 initiatives and replacement demand across the commercial vehicle sector.
For the full financial year 2025-26, Ashok Leyland posted a record net profit of ₹3,566 crore, up 8 per cent from ₹3,308 crore in FY25, despite absorbing a one-time ₹308 crore charge related to the new Labour Code. Annual revenue touched an all-time high of ₹44,007 crore compared to ₹38,753 crore in the previous year, while EBITDA increased 13 per cent to ₹5,732 crore. The company ended FY26 with a strong net cash position of ₹5,899 crore and announced plans for capital expenditure of ₹800–1,000 crore in FY27 to strengthen products, technology, and future-ready mobility solutions.
The company also achieved record commercial vehicle sales volumes of 220,437 units during FY26, surpassing its previous peak recorded in FY19. Light commercial vehicle sales touched a new high of 74,322 units, while exports grew 18.5 per cent to a historic 18,082 units. Managing Director and CEO Shenu Agarwal said the company’s premiumisation strategy and diversified business portfolio contributed significantly to margin expansion and profitability. He added that strong growth in electric mobility, defence, aftermarket, and international operations, including entry into Indonesia, would further support long-term growth. The Board also declared a second interim dividend of ₹2.50 per share, taking the total dividend payout for FY26 to ₹3.50 per share.
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