Ashok Leyland, the Indian flagship of the Hinduja Group, announced a Profit After Tax (PAT) of INR 770 crore for the second quarter, marking a 37% increase over the same period last year. The company’s EBITDA stood at 11.6%, totalling INR 1,017 crore, compared to 11.2% (INR 1,080 crore) in the previous year’s corresponding quarter.
In the domestic market, the company continues to hold a solid 31% market share in the Medium and Heavy Commercial Vehicle (MHCV) segment and has maintained its leadership in the bus segment. The Light Commercial Vehicle (LCV) segment also showed gains in the first half of the year. MHCV domestic sales volume reached 25,685 units, while LCV sales totalled 16,629 units. Export volumes increased by 14%, reaching 3,310 units this quarter. The company’s Defence, Power Solutions, and Aftermarket divisions also reported strong performance, contributing to Ashok Leyland’s positive outlook for the fiscal year.
Ashok Leyland expanded its product portfolio in the quarter by introducing new models across its Tipper, Bus, Haulage, and LCV segments and continued to broaden its distribution network.
Dheeraj Hinduja, Executive Chairman, Ashok Leyland, noted, “The Indian economy is expected to perform well in the second half, benefiting our industry. With strong macroeconomic fundamentals, we remain optimistic about H2, supported by government Capex spending and favourable monsoons.” Internationally, the company is intensifying its focus in SAARC, Middle East, Africa, and Asia, aiming for record-breaking performance in these markets this fiscal year. Hinduja also highlighted the company’s commitment to alternative fuels, with an order book of nearly 2,000 buses for its EV subsidiary, Switch.
Managing Director & CEO of the company Shenu Agarwal stated, “Our focus on profitability has led to improved margins through product premiumization, cost optimization, and enhanced customer service. With PAT for Q2FY25 at an all-time high, this marks the seventh consecutive quarter of double-digit EBITDA.” Agarwal emphasised the company’s trajectory towards achieving mid-teen EBITDA margins in the medium term.
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