Ashok Leyland (ASHOKLEY) investor relations material

Executive summary

• Achieved all-time high CV volume, revenue, profit, and cash surplus in FY 2026, marking the best annual performance in company history.

• Operating PBT for FY26 rose 22% YoY to ₹5,163 Cr, and PAT reached ₹3,914 Cr, up 8% despite a one-time labor code charge.

• Q4 FY 2026 ended with strong performance, reflecting robust demand in the CV industry and disciplined execution.

• Board recommended a second interim dividend of INR 2.50 per share, totaling INR 3.50 per share for the year.

• Ended FY26 with a net cash position of INR 5,899 crore, up from INR 4,242 crore last year.

Financial highlights

• FY26 revenue at INR 44,007 crore, up 14% YoY; EBITDA at INR 5,732 crore (13% margin); Q4 revenue at INR 14,161 crore, up 19% YoY.

• Q4 EBITDA at INR 2,066 crore, up 15.3% YoY; Q4 PAT at INR 1,405 crore, up 13% YoY.

• Full-year PAT (excluding exceptional items) at INR 3,914 crore.

• Cash generated in Q4 was INR 3,280 crore.

• Standalone EPS for FY26 was INR 6.07, up from INR 5.62 in FY25.

Outlook and guidance

• Entering FY 2027 with cautious optimism; demand drivers for CVs remain positive.

• Management expects continued profitable growth, leveraging strong cash reserves for investments in technology and product development.

• Monitoring macroeconomic headwinds: global uncertainties, commodity price volatility, and diesel price increases.

• Defense order pipeline and international expansion, including entry into Indonesia, are expected to drive future growth.

• Expectation of continued strong demand, especially in mining and infrastructure-related sectors.