Ashok Leyland

Ashok Leyland delivered a record Q4 FY26 with revenue of ₹14,161 croreCurrent reported value: ₹14,161 crore. No comparable prior figure is available in the source record. (+19Current 19 crore vs previous available quarter 21.7 crore.% YoY) and EBITDA margin of 14.6%Current reported value: 14.6%. No comparable prior figure is available in the source record., marking entry into the teen bracket. Full-year PAT (ex-exceptional) reached ₹3,914 croreCurrent reported value: ₹3,914 crore. No comparable prior figure is available in the source record. (+22% YoY). Growth was driven by GST 2.0 rate rationalization triggering fleet replacement, with domestic MHCV volumes up 21.5%Current 21.5%. Reported change: +21.5pp YoY. YoY and LCV volumes up 23% YoY. The company maintained a healthy market share of 30.8% in MHCV and gained 90bps in LCV. Management expressed cautious optimism for FY27, citing resilient demand despite diesel price hikes and commodity inflation. They expect near-term margin pressure from steel costs but plan to offset via price hikes (1-1.5% in April) and cost controls. Key risk: sustained commodity inflation or diesel shortages could dampen demand and compress margins.