Ashok Leyland Q2 Results: Net profit flat at ₹771 crore, revenue up 9% YoY at ₹9,588 crore; Re 1 dividend declared

CHENNAI : Ashok Leyland, the commercial vehicle manufacturer, on Wednesday reported a standalone net profit of ₹771.06 crore for the second quarter of FY26, registering a minor growth of 0.13% from ₹770.10 crore in the same period last fiscal year.

The net profit was impacted by a one-time loss of ₹40 crore as against a gain of ₹117 crore in the year-ago period.

Ashok Leyland’s revenue from operations in Q2FY26 rose 9.3% to ₹9,588.18 crore from ₹8,768.83 crore year-on-year (YoY). At the operational level, earnings before interest, tax, depreciation and amortization (EBITDA) during the September quarter increased 14.2% to ₹1,162 crore from ₹1,017 crore, while EBITDA margin improved to 12% from 11.6%, YoY, driven by product premiumization, network growth, operational efficiency, cost optimization, and digital enablement.

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.

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, Ashok Leyland said in a release.

The Export volumes for the quarter were at 4,784 units, growing 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, it 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,” said Shenu Agarwal, Managing Director & CEO, Ashok Leyland.

“We believe we are well positioned to achieve our mid-teen EBITDA goal in the medium term. We remain cash positive,” Agarwal added.