The Flagship Of Hinduja Group, Ashok Leyland, To Reopen Mallavalli Plant

The Flagship Of Hinduja Group, Ashok Leyland, Set To Reopen Mallavalli Plant, Boosting Local Economy

Ashok Leyland, part of the Hinduja Group, has achieved remarkable success in the first quarter of the fiscal year, marking its highest-ever commercial transport vehicles (CV) volumes with 43,893 units, up from 41,329 units last year. This impressive performance has driven a record Q1 revenue of ₹8,599 crore, surpassing the previous year’s ₹8,189 crore. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) reached an all-time high of ₹911 crore, with a profit before tax (PBT) of ₹701 crore.

The domestic Medium and Heavy Commercial Vehicle (MHCV) segment saw an 8% increase, securing a market share of 30.7%. The bus market share rose to 33.3%, while domestic Light Commercial Vehicle (LCV) volumes grew to 15,345 units, up 4% from last year’s 14,821 units. Export volumes also saw a 5% increase, reaching 2,324 units compared to 2,222 units last year. The EBITDA margin improved to 10.6%, up from 10.0% in the previous year, and the net debt to equity ratio stood at a favorable 0.1 at the end of Q1 FY25.

All business units, including Power Solutions, Aftermarket, Defence, and International Operations, contributed to the robust top-line growth. The company's strategic focus on product and network expansion has significantly bolstered revenue and market share.

Chairman Mr. Dheeraj Hinduja praised the company's achievements, stating, “The industry continues to grow, defying early year expectations. Our Q1 volumes have matched the peaks of Q1 FY19. Ashok Leyland has not only exceeded expectations with outstanding results and cost control but is also poised to lead in the growing EV market through our subsidiary, Switch Mobility. The upcoming launch of IeV3 will further strengthen our market position.”

Managing Director & CEO Mr. Shenu Agarwal emphasized the company's focus on future growth, saying, “Our revenue growth and effective cost management have notably enhanced our bottom line. We are also seeing significant progress in our non-CV businesses. We are committed to achieving mid-teen EBITDA margins in the medium term as we continue to invest in cutting-edge technologies.”

Mr. Prakash Hinduja, Chairman of the Hinduja Group, Europe, stated, “Ashok Leyland’s record performance is a testament to our team’s dedication and strategic vision. We remain committed to driving innovation and growth across all sectors of our business.”

About the Hinduja Group

The Hinduja Group is one of India’s premier diversified and transnational conglomerate. Employing about 200,000 employees, with a presence across 38 countries, it has a multi-billion-dollar revenue. The Group was founded over a hundred years ago by Shri PD Hinduja whose credo was "My duty (dharma) is to work so that I can give." The Group owns businesses in Mobility, Digital Technology, Banking and Financial Services, Media, Project Development, Lubricants and Specialty Chemicals, Energy, Real Estate, Trading, and Healthcare. The Group also supports charitable and philanthropic activities across the world through the Hinduja Foundation.

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