Chennai-based commercial vehicle major Ashok Leyland has announced a robust financial performance for Q4 and FY2025. The company reported achieving its highest-ever quarterly and annual revenues, EBITDA and profit after tax (PAT). 

For Q4 FY2025, the EBITDA of 15 percent at INR 17 billion, as against 14.1 percent at INR 15 billion last year. The PAT came at INR 12 billion, up 38.4 percent as against INR 9 billion last year. The company generated INR 32 billion in cash during the quarter.

In FY2025, the revenue came at INR 387 billion, a flat growth as compared to INR 383 billion last year, while EBITDA was 12.7 percent at INR 49 billion, as against 12 percent at INR 46 billion last year. On the other hand, the company PAT came at INR 33 billion, up 26 percent YoY, as against INR 26 billion reported last year.

The company ended FY2025 with net cash of INR 42 billion in hand, as against net debt of INR 890 million last year.

Ashok Leyland reported sales of 195,093 units for FY2025, which was very close to the record high of 197,366 units, with M&HCV buses witnessing its best year with sales of 21,249 units. Export volumes were also amongst its best performance in the recent past at 15,255 units, up 29 percent as compared to 11,853 units last year.

Dheeraj Hinduja, Chairman, Ashok Leyland, said, “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 Company’s strong financial performance in the last three years, the Board of Directors has approved a 1:1 bonus share issue. This is on the back of two interim dividends announced for FY25 amounting to 625 percent, or INR 6.25 per share. With our unwavering focus on innovation and customer satisfaction, and thrust in international operations, we are well-positioned for sustained and profitable growth.”  

Shenu Agarwal, Managing Director & CEO, Ashok Leyland, said “FY2025 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. It also gives us immense satisfaction to achieve our medium-term goal of mid-teen EBITDA in Q4. The company is in a very strong cash position, ending the year with a cash surplus of INR 42.42 billion. This gives us more fuel to further augment our strengths in products and technology, and to offer best-in-class customer experience. We are continuing on our premiumization journey with high focus on delivering exceptional value to our customers. We are now more confident than ever in our ability to gain market share and further improve our price realisation.”

Going forward, the company shared that in addition to electric vehicles led by Switch Mobility, it is also working on alternative fuel strategy including LNG and hydrogen.

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Mahindra’s Truck and Bus business (MTB), part of the Mahindra Group, has launched the Mahindra Furio 8 – a modern range of Light Commercial Vehicle trucks, which comes with ‘Get the Highest Mileage or Give the Truck Back’ guarantee.

The Furio 8 range is manufactured at Mahindra’s Chakan facility and will be introduced in two variants – 4-tyre cargo and 6-tyre cargo.

Vinod Sahay, President – Trucks, Buses, CE, Aerospace & Defense, Member of the Group Executive Board, Mahindra Group, said, “The launch of the new Mahindra Furio 8 range of LCV trucks with the guarantee, ‘Get The Highest Mileage or Give the Truck Back’, will help our customers earn the highest operating profit from their Furio 8 in this category. The new truck series sets new benchmarks of excellence and customer-centricity while reflecting our serious commitment to the segment and confidence in our products”.

Dr Venkat Srinivas, Business Head, MTB & CE, added, “Mahindra Furio 8 is engineered to deliver higher earnings, lower Total Cost of Ownership (TCO), minimal maintenance, and unmatched safety, comfort, and convenience – ensuring profit, peace of mind and higher prosperity for our customers.”

The Furio 8 comes is offered with Double Service Guarantees: 36-hour guaranteed turnaround at workshops or INR 3,000 per additional day; Back on road in 48 hours or INR 1,000 per additional day. The trucks are equipped with Mahindra iMAXX telematics technology, offering benefits like location tracking, geofencing, vehicle health monitoring, driver performance analytics and fleet dashboards among others.

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German tier 1 supplier ZF India has inked a strategic business partnership with one of India’s leading commercial vehicle manufacturers to supply manual and AMT, 9-Speed transmissions for trucks in the 1300Nm segment.

As per the understanding, ZF will supply EcoMid and EcoTronic Mid transmissions, specifically developed for over 25-tonne truck applications. The company is focusing on expanding its presence in the high torque market, offering 9-speed transmissions with 1500 Nm and 12-speed transmissions with 3200 Nm.

Through its modular platform approach and innovative transmission solutions, it aims to expand its presence as a key supplier for CV Solutions globally, with potential extensions for higher horsepower segments (over 300HP).

Akash Passey, President ZF Group in India, said, "With over six-decades of strong market presence in India, ZF has consistently provided advanced technology solutions that enhance operational efficiencies. This partnership underscores our role in delivering cutting-edge transmission solutions, strategically tailored to meet the evolving demands of our OEM partners. Together, we continue to drive progress and innovation in the industry.”

P Kaniappan, SVP, ZF Group, added, "The EcoMid and EcoTronic Mid transmissions will help drive operational efficiencies for the commercial vehicle industry, particularly in the heavy truck sector. This strategic agreement not only strengthens ZF Group's position as the premier provider of commercial vehicle solutions but also aligns with the market's shift towards higher efficiencies in higher tonnage vehicles. We are committed to delivering substantial progress for our customers and the Indian market."

The transmissions are being manufactured at the ZF Plant in Chakan, Pune.

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Tata Motors has expanded its footprint in the Middle East with the launch of its all-new LPO 1622 bus in Qatar through its official distributor Al Hamad Automobiles. Marking the company’s first Euro VI-compliant bus in the region, the LPO 1622 is purpose-built for staff transportation, offering advanced safety features, superior comfort and low total cost of ownership.

The bus is powered by a 220hp Cummins ISBe 5.6L engine and delivers 925Nm of torque; it comes in 61- and 65-seater configurations. Key features include Electronic Stability Control, Hill Start Assist, Cruise Control, ABS and ergonomic seating. Its rugged design and durable components are tailored to meet the demands of fleet operators in Qatar.

Asif Shamim, Head of International Business, Tata Motors Commercial Vehicles, said, “The Middle East continues to be a strategic focus for Tata Motors, where our products have consistently delivered value across a range of applications. With Qatar being a key market, we are pleased to further strengthen our presence with the launch of the all-new LPO 1622 bus, designed to offer higher profitability to customers and superior comfort to passengers. Supported by a strong and responsive after-sales ecosystem, we remain committed to delivering reliable, advanced mobility solutions tailored to evolving needs and requirements.”

Mohamed Yousef Al Mana, Chairman, Al Hamad Automobiles, said, “We are proud to continue our long-standing partnership with Tata Motors and support the expansion of their commercial vehicle portfolio in Qatar. As a trusted partner, our focus remains on providing comprehensive after-sales support through our wide service network and easy availability of genuine spare parts. With dedicated teams and infrastructure in place, we are fully committed to ensuring maximum uptime, operational continuity, and long-term value for our customers across the country."

Tata Motors also showcased its enhanced Euro V-compliant Prima range of heavy trucks – Prima 4040.K, 4440.S, 4040.T and 6040.S – aimed at meeting the country’s infrastructure and construction demands.

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Daimler Truck has officially opened its new, state-of-the-art manufacturing facility, Daimler Commercial Vehicles Manufacturing Indonesia (DCVMI), in the Cikarang Industrial Area. This significant IDR 500 billion (approximately USD 30 million) investment marks a major step in Daimler Truck’s regional expansion strategy, solidifying its long-term commitment to meeting the evolving mobility needs of Southeast Asia.

The expansive 15-hectare greenfield facility boasts an annual production capacity of 5,000 Mercedes-Benz trucks and buses. It's poised to become a central hub for vehicle assembly and distribution across key Southeast Asian markets, underpinning Daimler Truck's regional growth ambitions and strengthening Indonesia's commercial vehicle industry.

What makes this initiative particularly noteworthy is its collaborative foundation, blending the precision of German engineering, the manufacturing prowess of India and the crucial market insights from Indonesia.

Daimler India Commercial Vehicles (DICV), located in Chennai, will play a pivotal role by supplying high-quality Completely Knocked Down (CKD) kits to the new Indonesian facility.

Satyakam Arya, Managing Director and CEO, DICV, said, "India remains a cornerstone of our global export strategy. Leveraging Indonesia for the ASEAN region is about expanding our reach, not shifting our focus. As DICV becomes further integrated into Daimler Trucks’ global manufacturing network, we will play a key role in building capabilities in Indonesia—transferring knowledge, developing talent, and strengthening the regional ecosystem. The integration of India’s advanced manufacturing capabilities into our Southeast Asian operations highlights our unified global approach. By combining German engineering excellence with India’s production strength and deep Indonesian market understanding, we are creating a robust platform for long-term success in the region."

Sankaranarayanan Ramamurthi, President Director, DCVMI, said, “This plant is not merely an addition to our infrastructure—it is a manifestation of our vision to make a tangible contribution to Indonesia’s economy, empower local communities and build a stronger industrial ecosystem. Each unit produced here reflects not only engineering excellence but also the spirit of collaboration and our confidence in Indonesia’s future. We are committed to continually creating job opportunities, innovating and contributing to growth in and for Indonesia.”

The opening of the DCVMI factory is a tangible realisation of Daimler Truck's ‘Bigger and Better’ vision. Beyond just expanding facilities, this move is set to enhance agility, streamline workflows, and improve the resilience of solutions offered to Indonesian customers. The company is committed to providing commercial vehicles that precisely meet local market demands, focusing on production efficiency, service reliability, and continuous innovation.

The DCVMI plant in Cikarang features an integrated manufacturing system for efficient production. It's equipped with a test track to simulate diverse road conditions and an advanced paint booth, both adhering to Mercedes-Benz's rigorous global manufacturing standards.

The facility will continue to produce popular Mercedes-Benz Axor Trucks models, including the 2528 CH, 4928 T, 4028 T, 4023 T, 2528 RMC, 2528 CX and 2528 C, as well as Mercedes-Benz bus chassis like the OH 1626 L and OH 1626 S, all specifically designed for the Indonesian market.

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