Chennai, India, August 15, 2026: Ashok Leyland, the flagship company of the Hinduja Group, has reported its strongest-ever first-quarter performance in terms of commercial vehicle volumes, revenue and profit for Q1 FY27, despite pressure from rising material costs.

The company sold 48,763 commercial vehicles in Q1 FY27, its highest-ever Q1 volume, compared with 44,238 units during the same period last year. This represents a year-on-year growth of around 10.2%.

Ashok Leyland also recorded its highest-ever Q1 revenue of ₹9,634 crore, up from ₹8,725 crore in Q1 FY26. Profit after tax (PAT) stood at a record ₹609 crore, compared with ₹594 crore in the corresponding quarter last year.

Ashok Leyland Q1 FY27 Volumes Grow Across Key Segments

The company reported strong performance across several commercial vehicle segments during the quarter. MHCV truck volumes, excluding Defence, grew 15%, while domestic LCV volumes increased by 21%.

LCV volumes reached 18,874 units in Q1 FY27, marking the highest-ever Q1 volume for the segment. Exports stood at 2,461 units during the quarter, while Ashok Leyland’s Power Solutions, Aftermarket and Defence businesses also contributed to the overall financial performance.

However, profitability remained under pressure from higher input costs. EBITDA for Q1 FY27 stood at ₹970 crore, with the EBITDA margin declining to 10.1%, compared with 11.1% in Q1 FY26.

Ashok Leyland Strengthens Cash Position

Despite the margin pressure, Ashok Leyland strengthened its balance sheet during the quarter. The company ended Q1 FY27 with net cash of ₹2,252 crore, representing a positive year-on-year improvement of ₹1,432 crore.

The company also continued expanding its sales and service network, adding 33 new touchpoints during the quarter.

New Air Suspension Technology for Multi-Axle Trucks

Ashok Leyland introduced an industry-first Air Suspension Technology for its multi-axle trucks during Q1 FY27. According to the company, the technology is designed to offer customers improved payload capability and total cost of operations.

The company said its electric mobility subsidiary, Switch Mobility, continues to gain traction, while international markets and the Defence business remain important areas for diversification and future growth.

Ashok Leyland Outlook

Dheeraj Hinduja, Chairman, Ashok Leyland, said the company delivered another strong quarter, supported by disciplined execution and cost management. He highlighted robust demand across key segments and said government initiatives such as Parivartan could accelerate fleet modernisation and support long-term growth in the commercial vehicle industry.

Shenu Agarwal, Managing Director & CEO, Ashok Leyland, said the Indian commercial vehicle industry remained buoyant during Q1 despite geopolitical headwinds. He acknowledged that rising material costs remain a concern and said the company is focusing on better price realisation, cost savings, product and business mix improvements and opportunity-based inventory build-up.