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Ashok Leyland Limited Q1 FY26 earnings call summary

NSE: ASHOKLEY · BSE: 500477

Earnings call of 14 Aug 2025, summarised by AI from the filing.

Ashok Leyland reported record Q1 FY26 revenue of ₹8,725 cr, EBITDA of ₹970 cr and PAT of ₹594 cr, and guides mid-single digit MHCV volume growth for FY26.

Key takeaways

  1. FY26 guidance Mid-single digit MHCV volume growth and slightly higher for LCV; margin to beat last year.
  2. Net cash swing Net cash positive at ₹800 cr vs net debt of ₹1,200 cr a year ago.
  3. Steel costs Steel safeguard duty created pressure, but spot prices are easing.

Original filing on BSE

Ashok Leyland Limited Q1 FY27 results

As filed: Revenue ₹13,070 cr (+12% year on year), EBITDA ₹2,410 cr (+11% year on year), PAT ₹668 cr (+1% year on year), EBITDA margin 18.4% (−12 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹17,246 cr (+17% year on year), EBITDA ₹3,308 cr (+11% year on year), PAT ₹1,381 cr (+11% year on year), EBITDA margin 19.2% (−117 bps). Score 48 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was well below it; profit growth was below it. EBITDA margin fell 117 bps year on year. Share price after the results: −1.8% in 28 days (Nifty 500: +0.6%).
  • Q3 FY26: Revenue ₹14,830 cr (+24% year on year), EBITDA ₹2,822 cr (+21% year on year), PAT ₹862 cr (+35% year on year), EBITDA margin 19.0% (−45 bps). Score 82 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA growth was in line with it; profit before exceptional items growth was above it. EBITDA margin fell 45 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Profit before exceptional items rose ₹398 cr on a year ago, more than the ₹158 cr it added the year before. Share price after the results: −18.6% in 30 days (Nifty 500: −9.9%).
  • Q2 FY26: Revenue ₹12,577 cr (+13% year on year), EBITDA ₹2,441 cr (+20% year on year), PAT ₹820 cr (+7% year on year), EBITDA margin 19.4% (+111 bps). Score 50 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was in line with it; profit growth was below it. EBITDA margin rose 111 bps year on year. Share price after the results: +12.2% in 30 days (Nifty 500: +0.2%).
  • Q1 FY26: Revenue ₹11,709 cr (+9% year on year), EBITDA ₹2,173 cr (+16% year on year), PAT ₹658 cr (+19% year on year), EBITDA margin 18.6% (+114 bps). Score 48 of 100, In line with trend. Revenue growth was above the company's own trend; EBITDA and profit growth were below it. EBITDA margin rose 114 bps year on year. Revenue fell 20% from last quarter. Share price after the results: +12.0% in 29 days (Nifty 500: +2.2%).
  • Q4 FY25: Revenue ₹14,696 cr (+8% year on year), EBITDA ₹2,991 cr (+15% year on year), PAT ₹1,246 cr (+33% year on year), EBITDA margin 20.4% (+119 bps). Score 56 of 100, In line with trend. Revenue growth was above the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin rose 119 bps year on year. Profit rose ₹312 cr on a year ago, more than the ₹131 cr it added the year before. Share price after the results: −1.5% in 28 days (Nifty 500: +2.0%).
  • Q3 FY25: Revenue ₹11,995 cr (+8% year on year), EBITDA ₹2,337 cr (+19% year on year), PAT ₹820 cr (+35% year on year), EBITDA margin 19.5% (+180 bps). Score 50 of 100, In line with trend. Revenue growth was above the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin rose 180 bps year on year.
  • Q2 FY25: Revenue ₹11,148 cr (−2% year on year), EBITDA ₹2,040 cr (+9% year on year), PAT ₹767 cr (−1% year on year), EBITDA margin 18.3% (+194 bps). Score 39 of 100, Below trend. EBITDA margin rose 194 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Ashok Leyland Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.