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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IVECO BUS has completed the delivery of 53 CROSSWAY Hybrid buses to Interbus Group, a Spanish passenger transport operator. The buses are destined for interurban routes in the Madrid and Andalusia regions, following the award of the ECO label for these transport corridors.

The majority of the new fleet will be integrated into the Madrid Regional Transport Consortium (CRTM) to support mobility within the capital's metropolitan area. The remaining units will be deployed in Andalusia to operate regional interurban services.

The delivery is part of a broader infrastructure renewal programme aimed at improving the environmental footprint and operational efficiency of Spanish public transport.

The CROSSWAY Hybrid model utilises a 48V mild-hybrid system. This architecture recovers energy during braking and provides motor assistance during start-up and acceleration. The system does not require external charging infrastructure, allowing for service continuity on long-distance routes.

Giorgio Zino, Head of IVECO BUS Commercial Operations in Europe, said, “The renewed confidence shown by Interbus demonstrates the strength of our partnership and our ability to provide concrete support to operators throughout their transition. In our sector, sustainability is truly meaningful when it delivers tangible benefits for operators while helping to improve air quality for citizens. This delivery confirms that IVECO BUS hybrid technology now represents a practical and effective solution to connect regions and ensure high-performance daily mobility”.

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Tata Motors, one of the leading commercial vehicle manufacturers, has expanded its electric-CV portfolio with the launch of the Intra EV Pickup at prices starting INR 1.19 million (ex-showroom). The EV is positioned as a high-payload solution for urban and regional cargo requirements.

The Intra EV is engineered for demanding duty cycles across sectors such as e-commerce, FMCG and dairy distribution. It features a purpose-built electric architecture designed to handle diverse Indian weather and terrain conditions.

The e-SCV has 1,750 kg payload capacity with load body options extending to 10.2-feet. It uses a 72kW electric motor generating 230 Nm of peak torque and 23 percent gradeability. It features an IP67-rated 28.2 kWh battery providing a certified range of 211 km on a single charge. The Intra EV supports CCS2 fast charging, enabling a 10-80 percent charge in approximately 55 minutes.

The EV integrates an Electronic Braking System (EBS) for stability and a three-level regenerative braking system to enhance energy recovery. Fleet management is supported via the Tata Motors Fleet Edge platform, which provides real-time tracking, vehicle health monitoring and predictive maintenance data.

The cabin is crash-tested and features Electric Power Assisted Steering (EPAS) and a walk-through design to reduce driver fatigue during extended operating hours.

Tata Motors provides a 6-year or 200,000 km high-voltage battery warranty. It is supported by a network of over 25,000 charging points and 200 dedicated EV service centres across India. The launch follows the deployment of the company's electric buses and the recent introduction of the Ace EV 1000 and Ace Pro EV mini-trucks.

Girish Wagh, Managing Director & CEO, Tata Motors, said, “Our commitment to green mobility is focused on delivering sustainable solutions that are proven at scale and relevant to India’s diverse commercial mobility needs. Building on the strong market response to our electric mini‑trucks and the successful deployment of our electric buses serving commuters across 10 cities nationwide, we rolled out our next‑generation electric trucks earlier this year and are now advancing further with the launch of electric pickups. Through this progression, Tata Motors has established the country’s most comprehensive electric commercial vehicle portfolio across segments. This momentum is being enabled by progressive Government policies and strong collaboration across customers, partners and suppliers, accelerating India’s transition to cleaner and more sustainable mobility.”

Pinaki Haldar, Vice-President & Business Head – SCVPU, Tata Motors, said, “The all-new Intra EV Pickup has been developed with a clear focus on earning capability and everyday usability, combining one of the highest payload capacities in its segment with strong performance, long range and high uptime, all at a segment-beating price. Its comfortable, crash‑tested cabin, car‑like driving dynamics and thoughtfully integrated features are designed to reduce fatigue and improve productivity across long operating hours. As adoption of cleaner technologies accelerates, Tata Motors remains committed to raising industry benchmarks and making electric cargo mobility a practical, confident choice for businesses.”

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Pune-headquartered automotive major Force Motors has reported its domestic wholesales of 36,536 units for FY2026, which marks a 20 percent increase compared to the 30,531 units sold in the previous fiscal year.

For the month of March 2026, the company registered a 14 percent growth with 4,126 units sold.

The company stated it witnessed growth across its product portfolio, supported by demand in passenger mobility, institutional and defence sectors.

Force Traveller continued to maintain a 70 percent market share in the light commercial vehicle segment, with applications in school and ambulance services.

The company’s premium passenger mobility platform Urbania recorded volume growth exceeding 100 percent, while Trax platform saw 70 percent growth with traction from Tier-2 and Tier-3 markets.

Force Motors’ Special Vehicle Division delivered its first batch of 600 Gurkha units to the Indian Army.

At present, Force Motors operates five manufacturing units and an R&D centre in Pune. The company produces and tests engines for all Mercedes-Benz and BMW cars and SUVs manufactured in India.

Additionally, Force MTU Power Systems, a joint venture with Rolls-Royce Power Systems AG, produces 10 and 12-cylinder engines for global power generation and rail applications. Overall exports for the company's four-wheelers grew by 13 percent during the year.

Prasan Firodia, Managing Director, Force Motors, said, “Our performance this year reflects the way we are steadily shaping the business – being more focused, disciplined and aligned to the segments where we know and believe that we can lead. The Force Urbania is setting new benchmarks in premium shared mobility, while the Trax platform is helping improve connectivity across the country. Our Traveller range continues to anchor our presence in the segment, with its market leadership reflecting the deep trust customers place in the brand. At the same time, our continued work with the defence sector reflects the strength of our engineering and our ability to deliver in demanding conditions. We also saw steady growth in our export business, with overall exports growing by 13 percent (4-wheelers only). Given our strong exports’ presence in Gulf markets, we remain mindful of the evolving geopolitical situation and are closely monitoring the developments. As we look ahead, staying close to our customers and paying close attention to their needs & shaping our products and solutions accordingly—will remain a key focus for us. We will continue to build on our strengths with consistency, while staying responsive to evolving market needs”.

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ZF Commercial Vehicle Control Systems India has been awarded a business nomination by a mobility OEM to develop and supply an Advanced Driver Assistance System (ADAS) suite for an upcoming bus platform. The project encompasses system supply, vehicle integration, and validation, with the start of production targeted for Q1 FY2027.

The awarded solution centres on ZF’s OnGuardMAX platform, which utilises multi-sensor fusion including a front camera, mid-range radar and an image processing module. This system is integrated with Short-Range Radar (SRR), an Electronic Braking System (EBS) and Electronic Stability Control (ESC) to provide comprehensive active safety.

The platform enables Autonomous Emergency Braking (AEB), Lane Departure Warning (LDW) and Driver Drowsiness and Attention Warning (DDAW). It also features SRR units address blind spots to protect vulnerable road users, supporting Blind Spot Information Systems (BSIS) and Moving Off Information Systems (MOIS). The integration of EBS and ESC provides faster braking responses, shorter stopping distances and improved rollover resistance for electric vehicle platforms.

The ADAS suite is engineered to meet GSR 184(E) requirements. The technology has undergone 450,000 kilometres of testing on Indian roads and has received ARAI certification. The architecture is scalable to SAE Level 2 and is designed to support future automation requirements.

Paramjit Singh Chadha, Managing Director, ZF Commercial Vehicle Control Systems India, said, “ADAS was and remains a strategic priority for ZF Commercial Vehicles in India. With a legacy of deep customer understanding and proven technological competence that make commercial transportation safer, smarter and more efficient, we also offer ADAS solutions that fit the specific driving conditions in India and at the same time have the backing of our global expertise.”

Akash Passey, Non-Executive Chairman, ZF Commercial Vehicle Control Systems India, added, “We see a rapid acceleration in India in the adoption of advanced driver assistance technologies that enhance road safety and operational efficiency. ZF Commercial Vehicles Division offers made-to-fit market solutions that address the specific needs of leading and new-age e-mobility OEMs with the strength of ZF’s global engineering expertise and combining it with deep regional insights.”

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