The company’s revenue from operations stood at Rs 11,534 crore in Q3FY26, jumped 22% over Rs 9,479 crore posted in the corresponding period of the last financial year.
The net profit grew 3% sequentially versus Rs 771 crore in Q2FY26 while the topline rose 20% quarter-on-quarter compared to Rs 9,588 crore in the July-September quarter of FY26.
The Indian flagship company of the Hinduja Group’s revenue in the reported quarter was its highest ever in the third quarter, the company filing said.
The commercial vehicle manufacturer also reported an all-time high Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in Q3 at Rs 1,535 crore, which was up 27% compared to Rs 1,211 crore in Q3FY25.
Company’s net cash stood at Rs 2,619 crore at end of the quarter as against net cash of Rs 958 crore at end of Q3FY25.
Q3 volume snapshot
MHCV volumes were at 32,929 units in Q3FY26 versus 26,692 units in Q3FY25, a growth of 23%. This is higher than Q3 industry growth resulting in market share gain.
LCV Volumes were at 20,518 units In Q3 FV26 vis-a-vis 15,754 units in Q3FY25, recording a growth of 30%. This is higher than the industry volume growth (VAHAN) resulting in market share gain, the company filing said.
Exports volume of 4,965 units in Q3 FY26 versus 4,151 units in Q3FY25 was a growth of 20%.
Management speak
Commenting on the company’s Q3, Executive Chairman Dheeraj Hinduja said that market conditions continue to be favourable, and Ashok Leyland is optimistic about the prospects in the medium term across its businesses, including MHCV, LCV, and defence.
“Our strong and consistent growth in volumes and profitability underscores the competitiveness of our portfolio, which delivers superior performance and customer value, reinforced by deep and effective customer engagement across all segments. We are executing a structured pipeline of product introductions across conventional and alternative propulsion platforms to further strengthen our leadership in the domestic market and accelerate our expansion in international markets,” Hinduja said.
“Our electric vehicle arm, Switch, has a healthy order book and a well-defined product roadmap. It has started delivering buses in International markets and has achieved positive EBITDA and PAT over the first nine months,” he added.
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