Ashok Leyland navigates a challenging cost environment with selective price hikes and internal controls amid stable demand. While input costs remain volatile, the company sees resilient commercial vehicle demand driven by replacement needs and policy support for EVs. Exports are expected to recover soon, and the defence business shows strong growth.

Ashok Leyland reported record FY26 revenue and profit as commercial vehicle sales, exports and Switch Mobility business posted strong growth.

Ashok Leyland reported a strong rise in fourth-quarter profit and revenue for FY26, driven by record commercial vehicle, export and light commercial vehicle volumes. The company…