Ashok Leyland has announced its best-ever financial and operational performance for Q4 and the full financial year FY25. Backed by resilient execution across business segments and a clear strategic vision, the company not only delivered record revenues and profitability but also laid strong foundations for future growth through investments in innovation and alternate propulsion technologies.
Robust Operational and Financial Metrics
In Q4 FY25, Ashok Leyland reported its highest-ever EBITDA margin of 15% at Rs. 1,791 crore, improving from 14.1% (Rs. 1,592 crore) in the same period last year. Profit Before Tax stood at Rs. 1,671 crore, a 13.6% increase year-on-year, while Profit After Tax rose sharply by 38.4% to Rs. 1,246 crore. Cash generation during the quarter reached Rs. 3,284 crore, reinforcing the company’s liquidity strength.
For the full year, the company posted an EBITDA of Rs. 4,931 crore (12.7%) as against Rs. 4,607 crore (12.0%) in FY24. Importantly, Ashok Leyland exited the fiscal year with a net cash surplus of Rs. 4,242 crore, a significant improvement from a net debt of Rs. 89 crore in the previous year – underscoring operational discipline and cash efficiency.
Volume Performance and Segmental Growth
Total commercial vehicle volumes for FY25 stood at 195,093 units, closely approaching the company’s historical high. The MHCV bus segment recorded its highest-ever annual volume at 21,249 units. Exports also saw a healthy uptick, growing 29% year-on-year to 15,255 units. The Power Solutions and Defence business verticals contributed strongly to the overall performance, supported ably by the company’s subsidiaries.
Future-Ready: Investing in Innovation and Alternative Propulsion
Ashok Leyland continues to align its strategy with emerging mobility trends. The company’s alternate propulsion portfolio is shaping up robustly, with key initiatives in electric mobility (led by Switch Mobility), LNG, and hydrogen technologies well underway. These developments signal a decisive move towards sustainable transportation solutions and long-term readiness.
Confidence in Growth Trajectory
Dheeraj Hinduja, Chairman, Ashok Leyland, stated: “Achieving these record-breaking numbers is a matter of immense pride for us. It reflects the resilience of our business and the trust our customers place in us. Given the company’s strong financial performance over the last three years, the Board has approved a 1:1 bonus share issue. With our unwavering focus on innovation, customer satisfaction, and thrust in international operations, we are well-positioned for sustained and profitable growth.”
Shenu Agarwal, MD & CEO, Ashok Leyland, added: “FY25 has been another landmark year for us. We’ve set new records in revenue, EBITDA, and profitability. Our margin expansion and robust cash generation reflect the strength of our operations. Achieving our medium-term goal of mid-teen EBITDA in Q4 is immensely satisfying. With a strong cash surplus of Rs. 4,242 crore, we are better placed than ever to enhance our product and technology strengths and deliver superior customer experiences. We remain firmly focused on premiumisation and improving market share while strengthening price realisation.”
