On November 12, 2025, Ashok Leyland Limited, the Indian flagship of the Hinduja Group, announced strong financial results for Q2 FY26 FY26. The company reported a 23% year-on-year rise in Profit Before Tax (PBT) to ₹1,083 crore compared to ₹878 crore in the same quarter last year.
Profit After Tax (PAT) reached an all-time high of ₹771 crore, while EBITDA grew 12.1% to ₹1,162 crore, up from ₹1,017 crore a year earlier.
Both Medium & Heavy Commercial Vehicles (MHCV) and Light Commercial Vehicles (LCV) segments witnessed steady growth during the quarter. MHCV volumes increased 3%, from 25,542 to 26,307 units, while LCV volumes rose 6%, from 16,629 to 17,697 units year-on-year.
The Bus segment delivered its 18th consecutive quarter of positive growth, reinforcing Ashok Leyland’s market leadership in the domestic commercial vehicle space. The company’s MHCV market share remained above 30%.
Ashok Leyland recorded export volumes of 4,784 units, marking a 45% increase on a year-on-year basis. The Defence, Power Solutions, and Aftermarket divisions continued to perform strongly, contributing significantly to the company’s overall performance.
The company further expanded its product range in Q2 FY26 by introducing new offerings in the Tipper, Bus, Haulage, and LCV categories, while the distribution network expansion remained ahead of schedule.
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Driven by consistent improvement in fiscal performance, the Board of Directors approved a 100% interim dividend of ₹1 per share (face value ₹1). This announcement underscores the company’s confidence in its growth outlook and financial stability for the remainder of FY26.
As per the exchange filings, Mr Dheeraj Hinduja, Chairman of Ashok Leyland, stated that the company’s robust performance reflects its strong customer focus and competitiveness across products and markets. He highlighted ongoing international expansion, particularly in the Middle East, Africa, and SAARC regions.
Mr Shenu Agarwal, Managing Director & CEO, mentioned that stable demand across trucks and buses, coupled with cost optimisation and digital initiatives, has supported profitability. He added that the company is on track to achieve its mid-teen EBITDA margin target for the medium term.
On November 12, 2025, Ashok Leyland share price opened at ₹147.47 on NSE, above the previous close of ₹146.04. During the day, it surged to ₹147.60 and dipped to ₹141.76. The stock is trading at ₹145.23 as of 2:08 PM. The stock registered a moderate decline of 0.55%.
Over the past week, it has moved up by 2.83%, over the past month, it has moved up by 7.25%, and over the past 3 months, it has moved up by 21.67%.
Ashok Leyland’s Q2 FY26 FY26 results demonstrate a solid growth trajectory with double-digit profitability and strong market share retention. The company’s focus on exports, innovation, and product diversification positions it for continued growth in the commercial vehicle industry.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Nov 12, 2025, 4:12 PM IST
Team Angel One
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