Ashok Leyland Ltd — earnings calls

Ashok Leyland reported record FY'26 results with revenue of INR44,007 crores, up 13.6% year-on-year, and full-year EBITDA margin of 13%, an improvement of 30 basis points. Q4 revenue was INR14,161 crores, up 19% year-on-year, with EBITDA of INR2,066 crores. Management described continued strength in domestic MHCV and LCV volumes, record exports, growth in defense, aftermarket and Power Solutions businesses, and profitability at EV subsidiary Switch Mobility for the first time, while flagging commodity cost pressure and diesel price increases as headwinds entering FY'27.