Ashok Leyland Limited — Investor Meet, 17-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Ashok Leyland posted record Q3 FY'26 financials with revenue up 21.7% to INR11,534 Cr, EBITDA up 26.7% to INR1,535 Cr (13.3% margin), and PAT up 45% to INR1,105 Cr. MHCV and LCV volumes significantly outgrew the industry, boosting market share. Non-CV segments like Power Solutions (+45%) and Defense (+84%) also saw robust growth. Management believes the GST rationalization ignited a new, sustainable CV replacement cycle, evidenced by strong demand and rising freight rates continuing into January. While commodity costs and product mix pressured gross margins, price adjustments and internal efficiencies are priorities. The company is aggressively expanding its product line, including EVs, and enhancing market reach, projecting continued strong volume growth. Net cash stands at INR2,619 Cr.