Ashok Leyland Q2 Results: Ashok Leyland's operating revenue increased 9.3% to ₹9,588.18 crore from ₹8,768.83 crore in Q2FY26. On a year-over-year basis, volume increased by 3% in MHCV (from 25,542 to 26,307 units) and 6% in LCV (from 16,629 to 17,697 units) in Q2.
The commercial vehicle manufacturer Ashok Leyland recorded a standalone net profit of ₹771.06 crore for the second quarter of FY26 on Wednesday. This is a slight increase of 0.13% from ₹770.10 crore during the same time in the previous fiscal year.A one-time loss of ₹40 crore affected the net profit, compared to a gain of ₹117 crore during the same period last year.
Ashok Leyland's operating revenue increased 9.3% from ₹8,768.83 crore to ₹9,588.18 crore in Q2FY26.
At the operational level, product premiumization, network expansion, operational efficiency, cost optimization, and digital enablement drove a 14.2% increase in earnings before interest, tax, depreciation, and amortization (EBITDA) to ₹1,162 crore from ₹1,017 crore during the September quarter, while EBITDA margin improved to 12% from 11.6%, YoY.
In Q2, the MHCV and LCV industries both experienced favorable growth. Ashok Leyland's volume increased by 3% in MHCV (25,542 to 26,307 units) and 6% in LCV (16,629 to 17,697 units) on a year-over-year basis in Q2.
At the operational level, product premiumization, network expansion, operational efficiency, cost optimization, and digital enablement drove a 14.2% increase in earnings before interest, tax, depreciation, and amortization (EBITDA) to ₹1,162 crore from ₹1,017 crore during the September quarter, while EBITDA margin improved to 12% from 11.6%, YoY.
In Q2, the MHCV and LCV industries both experienced favorable growth. Ashok Leyland's volume increased by 3% in MHCV (25,542 to 26,307 units) and 6% in LCV (16,629 to 17,697 units) on a year-over-year basis in Q2.
The domestic MHCV market share of Ashok Leyland is still more over 30%. In the bus segment, the company continued to dominate the market. According to a release from Ashok Leyland, the LCV domestic market share in the addressable categories has also increased.
With 4,784 items exported throughout the quarter, the YoY growth was 45%.
It said, "The Defense, Power Solutions, and Aftermarket Businesses continue to perform well and are expected to post good growth in the current fiscal."
With 4,784 items exported throughout the quarter, the YoY growth was 45%.
It said, "The Defense, Power Solutions, and Aftermarket Businesses continue to perform well and are expected to post good growth in the current fiscal."
The demand for trucks and buses is still steady across the board. Although modest, the industry has reported growth, and we expect higher growth in the second half. Shenu Agarwal, Managing Director & CEO of Ashok Leyland, stated that the company has achieved double-digit EBITDA for the eleventh straight quarter.
We think we are in a good position to reach our mid-teen EBITDA target in the near future. We're still cash positive," Agarwal continued.
Dividend from Ashok Leyland
For the fiscal year ending in 2025–2026, Ashok Leyland's Board of Directors has announced an interim dividend of Re 1 per equity share with a face value of Re 1. The aforementioned interim dividend would be distributed by December 11, 2025, at the latest.
We think we are in a good position to reach our mid-teen EBITDA target in the near future. We're still cash positive," Agarwal continued.
Dividend from Ashok Leyland
For the fiscal year ending in 2025–2026, Ashok Leyland's Board of Directors has announced an interim dividend of Re 1 per equity share with a face value of Re 1. The aforementioned interim dividend would be distributed by December 11, 2025, at the latest.
Tuesday, November 18, 2025 is the Ashok Leyland dividend record date used to determine which members are eligible for an interim dividend.
Ashok Leyland's shares were down 1.27% at ₹144.20 per at 2:10 PM on the BSE.
Ashok Leyland's shares were down 1.27% at ₹144.20 per at 2:10 PM on the BSE.
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