Ashok Leyland shares jumped 8.2 per cent to ₹131.96 on Monday afternoon, hitting a new 52-week high of ₹132.80, after the commercial vehicle manufacturer reported record first-quarter results. The stock opened at ₹125.10 against the previous close of ₹121.96.
The Hinduja Group flagship announced its highest-ever Q1 revenue of ₹8,725 crore and record volumes of 44,238 units for the quarter ended June 2025. EBITDA improved to ₹970 crore with margins expanding 50 basis points year-on-year to 11.1 per cent, while profit after tax rose to ₹594 crore from ₹526 crore in the same period last year.
Leading brokerages maintained their bullish stance on the stock. Bank of America set a target price of ₹146, while Avendus Capital and Motilal Oswal pegged it at ₹140 and ₹141 respectively. Axis Securities maintained its buy rating with a target of ₹135, citing operational outperformance and market share gains.
The company’s medium and heavy commercial vehicle truck volumes grew 2 per cent year-on-year, with market share increasing from 28.9 per cent to 30.7 per cent. Light commercial vehicle volumes reached an all-time quarterly high of 15,566 units, while exports grew 29 per cent to 3,011 units.
Ashok Leyland maintained its cash-positive position with ₹821 crore at the quarter-end. The company expects mid-single-digit growth in the domestic commercial vehicle industry for FY26, supported by government infrastructure spending and improved freight rates.
Published on August 18, 2025