Ashok Leyland Q3 FY26 results (Oct–Dec 2025) and concall

Capital Goods · Concall AI · Call held 11 Feb 2026

Company page: Ashok Leyland share price, financials & guidance record

Ashok Leyland delivered its best-ever Q3 performance across key financial metrics, driven by strong volume growth in both MHCV and LCV segments, outperforming the industry. The company's net cash position significantly improved, and its non-CV businesses also saw robust growth. Despite a one-time labor code charge and commodity-driven margin pressure, management expressed confidence in sustained volume growth, fueled by a new replacement cycle and strategic product innovations.

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What they filed

Q3 FY26: revenue up 23.6%, net profit up 5.1% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26
Revenue	11,148	11,995	14,696	11,709	12,577 +13%	14,830 +24%
Expenses	9,108	9,659	11,705	9,535	10,136	12,008
EBITDA	2,040	2,336	2,991	2,173	2,441 +20%	2,822 +21%
Margin	18%	19%	20%	19%	19%	19%
Other income	245	75	22	103	103	-140
Interest	962	1,011	1,053	1,112	1,152	1,200
Depreciation	244	268	340	273	268	282
Profit before tax	1,078	1,132	1,621	891	1,124 +4%	1,200 +6%
Tax rate	29%	28%	23%	26%	27%	28%
Net profit	767	820	1,246	658	820 +7%	862 +5%
EPS	1.20	1.30	1.92	1.04	1.29	1.38

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.

What they filed

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