Latest news with #OhmGlobalMobility
Business Standard
6 days ago
- Business
- Business Standard
Ashok Leyland approves investment of Rs 305.70 cr in its subsidiaries
At board meeting held on 14 August 2025 The board of Ashok Leyland at its meeting held on 14 August 2025 has approved the investments in the following wholly owned subsidiaries, subject to requisite approvals and requirements as relevant: - - Investment upto Rs. 5.70 crore in Vishwa Buses and Coaches, as equity in one or more tranches -Investment upto Rs. 300 crore in Ohm Global Mobility, as equity, in one or more tranches
&w=3840&q=100)
Business Standard
6 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.
