India · Delayed Price · Currency is INR Ashok Leyland Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw record revenue, profit, and volumes, with strong growth across all segments and robust cash generation. Despite commodity and fuel cost pressures, demand remains resilient, and new product launches and EV initiatives are expected to support future growth.
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Record Q3 results with double-digit revenue and profit growth, driven by strong CV demand, product launches, and market share gains. Margins improved despite commodity headwinds, and the outlook remains robust with a positive replacement cycle and continued investment in innovation.
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Q2 FY26 delivered strong revenue and margin growth, with record EBITDA and robust export performance. Non-truck businesses now contribute half of revenue, supporting margin resilience. Management remains optimistic for H2, with new product launches and continued cost control expected to drive further gains.
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Record Q1 results with revenue up 1.5% YoY and net profit up 13% YoY, driven by market share gains, cost control, and strong export and non-CV business growth. Outlook remains positive with new product launches and robust order pipeline in defense and international markets.
Fiscal Year 2025
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Record revenue, profit, and margins achieved in FY 2025, with strong growth in exports, non-CV businesses, and EV subsidiaries. FY 2026 outlook is optimistic, with continued investment in technology, product innovation, and international expansion.
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Q3 FY25 saw a 31% YoY net profit increase and record revenues, with EBITDA margin rising to 12.8%. Export volumes surged 33% YoY, and non-CV businesses posted strong growth. Management expects continued industry momentum and is optimistic about FY26 growth, supported by robust order books and product innovation.
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Q2 FY25 saw a 9% YOY revenue decline, but profitability improved with PAT up 37% and EBITDA margin rising to 11.6%. Export and non-CV businesses posted strong growth, and management remains optimistic for H2, expecting flattish or positive industry volumes.
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Q1 FY25 delivered record volumes, revenue, and profitability, with strong growth in defense, spares, and exports. Management remains optimistic for the year, driven by a robust product pipeline, disciplined pricing, and favorable macro conditions.