Latest news with #MHCV
&w=3840&q=100)
Business Standard
3 days ago
- Automotive
- Business Standard
Ashok Leyland Q1 profit rises 19% on record CV sales, cost control
Commercial vehicle major Ashok Leyland posted a 19 per cent rise in net profit for the first quarter of FY26 to ₹657.72 crore, compared with ₹550.65 crore in April–June FY25, driven by its highest-ever quarterly commercial vehicle (CV) volumes, effective market execution, and rigorous cost management, the company said on Thursday. Revenue from operations for the period stood at ₹11,708.54 crore, up 9.5 per cent from ₹10,696.8 crore in the same quarter last year. Total expenses rose 9.3 per cent to ₹10,920.53 crore, against ₹9,994.97 crore a year earlier. The board on Thursday approved investments of around ₹300 crore in its e-Mobility as a Service (EMaaS) subsidiary Ohm Global Mobility, and another ₹5.7 crore in the bus body and coach-building arm Vishwa Buses and Coaches (VBCL). 'Ashok Leyland has delivered a robust Q1 performance, exceeding expectations through effective market execution while maintaining rigorous cost management. For the tenth quarter in a row, we have registered double-digit EBITDA margin,' said Dheeraj Hinduja, chairperson, Ashok Leyland. EBITDA for Q1 FY26 was ₹970 crore, with a margin of 11.1 per cent, compared with ₹911 crore and 10.6 per cent in Q1 FY25. The company remained cash positive at the end of Q1 FY26 at ₹821 crore. 'Our electric mobility subsidiary, Switch Mobility, continues to gain good traction and has achieved positive EBITDA. We are redoubling our efforts in the international markets and Defence business. Reinforcing our product superiority and strong customer orientation, we are sharpening our focus to play a pivotal role in our industry,' he added. Ashok Leyland recorded its highest-ever quarterly CV volumes of 44,238 units in the first quarter. The domestic medium and heavy commercial vehicle (MHCV) industry remained largely flat on the high base of last year's Q1. Ashok Leyland's MHCV truck volumes (excluding Defence) grew 2 per cent, with its year-on-year market share rising from 28.9 per cent to 30.7 per cent. MHCV bus total industry volume (excluding EVs) grew 5 per cent, with Ashok Leyland maintaining its domestic market leadership in MHCV buses. 'We are happy to report simultaneous increases in market share and operating margins. This reinforces our strategy to deliver profitable growth through superior products and best-in-class customer service. Our focus on growing our non-CV portfolio is also helping us deliver record performances in many quarters in a row. Our priority remains achieving mid-teen EBITDA margins in the medium term, while advancing our commitment to future-ready technologies,' said Shenu Agarwal, managing director and chief executive officer, Ashok Leyland. Light commercial vehicle (LCV) domestic Q1 volume at 15,566 units was the highest ever for the quarter. Export volume grew 29 per cent year-on-year to 3,011 units. 'We don't have any impact as a result of this tariff. Exports in Q1 were at an all-time high mainly due to West Asia, SAARC, and Africa. This year, we could achieve the highest sales in the export market,' Hinduja added.
Business Standard
4 days ago
- Automotive
- Business Standard
Ashok Leyland gains after Q1 PAT rises 13% YoY to Rs 594 cr
Ashok Leyland added 1.17% to Rs 121.10 after the company reported a 12.96% rise in standalone net profit to Rs 593.73 crore in Q1 FY26, compared to Rs 525.58 crore posted in Q1 FY25. Revenue from operations increased 1.46% year-on-year (YoY) to Rs 8,724.51 crore in the quarter ended 30 June 2025. Profit before tax (PBT) stood at Rs 797.73 crore in Q1 FY26, marking a growth of 13.72% over Rs 701.44 crore reported in the same quarter last year. EBITDA rose by 6.47% YoY to Rs 970 crore in Q1 FY26. The EBITDA margin also improved to 11.1% in Q1 FY26, up from 10.6% reported in Q1 FY25. The Company continues to be cash positive at end of Q1 FY26 at Rs 821 crore. The company stated that the domestic medium and heavy commercial vehicle (MHCV) industry remained almost flat due to the high base in last years Q1. Ashok Leylands MHCV truck volumes (excluding Defence) grew by 2%, with its year-on-year market share increasing from 28.9% to 30.7%. The MHCV bus total industry volume (excluding electric vehicles) grew by 5%, with Ashok Leyland maintaining its domestic market leadership position in MHCV buses. Light commercial vehicle (LCV) domestic volumes reached an all-time high for Q1 at 15,566 units. Export volumes grew 29% YoY to 3,011 units. Additionally, the companys Power Solutions, Aftermarket, and Defence businesses contributed strongly to the overall financial performance. Dheeraj Hinduja, chairman, Ashok Leyland, said "Ashak Leyland has delivered a robust Ql performance, exceeding the expectations through effective market execution while maintaining rigorous cast management. Our electric mobility subsidiary, Switch Mobility, continues to gain good traction and has achieved positive EBITDA. We are redoubling our efforts in the international markets and Defence business. Reinforcing our product superiority and strong customer orientation, we are sharpening our focus to playa pivotal role in our industry. " Shenu Agarwal, Managing Directar & CEO, Ashok Leyland, added, "We are happy to report simultaneous increases in market share and operating margins. This reinforces our strategy to deliver profitable growth through superior products and best-in-class customer service. Our focus on growing our non-CV portfolio is also helping us deliver record performances in many quarters in a row. Our priority remains achieving mid-teen EBITDA margins in the medium term, while advancing our commitment to future -ready technologies." Meanwhile, the companys board has approved the investments in its wholly owned subsidiaries, subject to requisite approvals and other regulatory requirements. These include an investment of up to Rs 5.70 crore in Vishwa Buses and Coaches, as equity, to be made in one or more tranches, and an investment of up to Rs 300 crore in Ohm Global Mobility, also as equity and to be made in one or more tranches. Ashok Leyland is engaged in the manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings, and castings.
Mint
4 days ago
- Automotive
- Mint
Ashok Leyland Q1 Results: Net profit rises 13% to ₹594 crore; margins expand to 11%
Ashok Leyland, the Indian flagship of the Hinduja Group, announced its June quarter results during market hours on Thursday, August 14, reporting a 13.4% year-on-year rise in consolidated net profit to ₹ 594 crore, compared to Rs525 crore in the same quarter last year. The figure also came in higher than analysts' estimates. The company reported its highest-ever Q1 revenue of ₹ 8,725 crore, up 1.5% from ₹ 8,598 crore in Q1FY25, along with a record Q1 in terms of CV volumes at 44,238 units. At the operating level, EBITDA came in at ₹ 970 crore, a 6.5% increase from ₹ 911 crore in Q1FY25, with margins expanding by 50 basis points to 11% from 10.6%, driven by cost-control measures. 'Domestic MHCV industry volumes remained almost flat on the high base of last year's Q1. Ashok Leyland's MHCV truck volumes (excluding Defence) grew 2%, registering a year-on-year market share increase from 28.9% to 30.7%. MHCV bus TIV (excluding EVs) grew by 5%. Ashok Leyland maintained its domestic market leadership position in MHCV buses,' the company said in its earnings filing. The company also reported its highest-ever Q1 LCV domestic volume at 15,566 units. Export volumes in Q1 grew 29% year-on-year to 3,011 units. The Power Solutions, Aftermarket, and Defence businesses also contributed strongly to the financial performance. Mr. Dheeraj Hinduja, Chairman, Ashok Leyland, said, "Ashok Leyland has delivered a robust Ql performance, exceeding the expectations through effective market execution while maintaining rigorous cast management."
Reuters
4 days ago
- Automotive
- Reuters
India's Ashok Leyland beats quarterly profit view on margin improvement
Aug 14 (Reuters) - India's Ashok Leyland ( opens new tab reported a bigger-than-expected first-quarter profit on Thursday as margins improved. The standalone profit for the Hinduja Group's flagship company rose 13% to 5.94 billion rupees ($67.86 million) in the three months ended June 30, beating analysts' average estimate of 5.70 billion rupees, according to data compiled by LSEG. Revenue from operations rose a marginal 1.5% to 87.25 billion rupees, in line with analysts' average estimate of 87.26 billion rupees. The company also logged a 12% jump in the sales of its higher-margin buses, part of its medium and heavy commercial vehicle (M&HCV) segment. Shares rose as much as 3.6% after results, before trimming some gains to trade 1.4% higher. For further earnings highlights, click KEY CONTEXT - Despite a marginal rise in steel prices, a favourable net pricing, which is the final amount a customer pays for a product, and internal cost control measures boosted Ashok Leyland's margins, according to analysts, which rose to 6.81% from 6.11% a year ago. Demand for M&HCV buses also ticked up in the quarter due to increased orders for public transport buses, replacement of old fleets, and government's push to enhance urban public transport systems. Rivals Mahindra & Mahindra ( opens new tab and Eicher Motors ( opens new tab beat quarterly profit estimates on strong demand for SUV and motorcycles, respectively, while Tata Motors' ( opens new tab profit plunged as tariffs, slow sales hurt. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT APRIL-JUNE STOCK PERFORMANCE -- All data from LSEG -- $1 = 87.5388 Indian rupees
Time of India
5 days ago
- Automotive
- Time of India
Setco Automotive Q1 revenue up 7.8% to ₹178.8 crore
Setco Automotive , a manufacturer of MHCV clutches , on Wednesday said it reported a 7.8 per cent year-on-year increase in its consolidated revenue from operations to ₹178.8 crore for the quarter ended 30 June 2025 from ₹165.8 crore reported in Q1 FY25. The company attributed revenue growth to continued demand for its products. Its EBITDA stood at ₹21.6 crore, an increase of 11.9 per cent compared with ₹19.3 crore in the same period last year. While EBITDA margin improved to 12.1 per cent from 11.6 per cent. Business performance and product launches It launched an automotive water pump for the light commercial vehicle and medium and heavy commercial vehicle segments, and entered the suspension solutions segment with the launch of the load cushion and torque rod bush. Chairman and Managing Director Harish Sheth said Q1 revenue reflected growth alongside an improvement in gross margins to 54 per cent. He added that traction from products launched last year and entry into the tractor segment had begun to yield results. Outlook Sheth said recent expansions, including water pumps, suspension products, CRB, and CSB, were strengthening the company's position in the auto components value chain . He expressed confidence in achieving stronger growth in FY26 with an expanding product portfolio and deeper engagement with OEM and aftermarket customers.
