Ashok Leyland Q2 PBT up 23% at Rs 1083 Cr PAT all-time high of Rs 771 Cr EBITDA up at 12.1% Announces 100% interim dividend of Rs. 1/- per share

Chennai, November 12, 2025: Ashok Leyland, the Indian flagship of the Hinduja Group, reported Profit (before exceptional items and tax) of Rs. 1,083 Cr for the quarter, growing at 23% over the same period last year (Rs 878 Cr). The EBITDA for the quarter was up at 12.1% (Rs. 1162 Cr) as against 11.6% (Rs. 1017 Cr) in the corresponding period last year.

Both MHCV and LCV industry witnessed positive growth in Q2. Ashok Leyland volume in Q2 saw a jump of 3% in MHCV (from 25,542 to 26,307 units) and 6% in the LCV segment (from 16,629 to 17,697 units) on YoY basis. The bus industry in particular continues to show impressive movement, growing for the 18 th consecutive quarter. Ashok Leyland’s Domestic MHCV market share continues to be over 30%. The Company maintained its market leadership in the Bus segment. The LCV domestic market share in the addressable segments has also improved.

The Export volumes for the quarter were at 4,784 units, growing impressively by 45% on YoY basis. The Defence, Power Solutions and Aftermarket Businesses continue to perform well and are expected to post good growth in the current fiscal. The Company expanded its product line up in Q2 by launching new products in Tipper, Bus, Haulage and LCV segments. The expansion of distribution network is running ahead of the plan.

Due to continued improvement in Company’s fiscal performance and better outlook for the year, the Board has recommended a 100% Interim Dividend of INR 1/- per share (FV Re. 1/share).

Mr. Dheeraj Hinduja, Chairman, Ashok Leyland, said “We continue to deliver profitable growth, driven by continuing demand. Our robust all-round performance symbolizes the competitiveness of our products and strong customer focus. In the International business we are intensifying our expansion strategy in our focus markets of Middle East, Africa and SAARC. Switch Mobility is performing well with an order book of nearly 1500 vehicles.”

Mr. Shenu Agarwal, Managing Director, CEO, Ashok Leyland, added, “We continue to see stable demand in all segments of trucks and buses. The industry has posted growth, albeit modest, and we are anticipating to witness better growth in the second half. Ashok Leyland has achieved its eleventh consecutive quarter of double-digit EBITDA. Our focus on profitability is reflected in record PAT for Q2FY26 and higher EBITDA margins, both sequentially and year-on-year. Margin expansion is being driven by product premiumization, network growth, operational efficiency, cost optimization, and digital enablement. We believe we are well positioned to achieve our mid-teen EBITDA goal in the medium term. We remain cash positive.

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