Ashok Leyland kicked off FY25 with a bang, delivering record quarterly performance across key metrics. Revenue surged 5 percent to INR 85.99 billion, eclipsing the previous high of INR 81.89 billion set in the same period last year.

The company's commercial vehicle (CV) sales volume climbed to a record 43,893 units, outpacing the industry's overall 10 percent growth. This translated to a market share of 31 percent, with particular strength in the bus segment where it gained 5.8 percentage points. The light commercial vehicle (LCV) segment also saw gains, with market share rising to 20.3 percent.

EBITDA expanded 11 percent to INR 9.11 billion, while profit before tax (PBT) jumped 12.8 percent to INR 7.1 billion. However, profit after tax (PAT) declined 9 percent due to a one-time tax benefit in the prior year. Excluding this item, PAT would have significantly outperformed the previous year.

Standalone financials mirrored the overall positive trend, with revenue up 5 percent and PBT up 13 percent. Consolidated numbers were equally impressive, showing volume growth of 11 percent and PBT up 13 percent.

Ashok Leyland's vision to become a top-10 global CV player is gaining traction, as evidenced by its robust financial performance and market share gains. New product launches including the 14-tonne electric vehicle, and several other models, contributed to the strong performance. 

Commenting on the same, Executive Chairman Dheeraj Hinduja said, “Ashok Leyland has reported a stellar performance in Q1FY25, defying initial market pessimism. Despite widespread concerns about a potential downturn in the CV industry due to elections and other factors, the company has not only met but exceeded expectations. The MHCV segment, which was anticipated to contract, saw a robust 10 percent growth, bringing volumes close to the previous peak in Q1FY19. Ashok Leyland's market share in this segment remained steady at around 31%.”

“While the LCV industry stagnated, the company managed to outpace the market, increasing its market share. Domestic LCV volumes grew by 4 percent to 15,345 units. Overall, Ashok Leyland's CV volumes reached an all-time high of 43,893 units, a 6 percent increase YoY,” he added. 

Ashok Leyland has outlined its plans to further strengthen its market position through new product launches and enhanced after-sales service. The company is confident of increasing market share in both trucks and buses, while maintaining a strong focus on profitability.

The electric vehicle (EV) segment is also gaining traction, with the successful launch of the IeV-4 and IeV-3 models. “Our electric vehicle subsidiaries, Switch and OHM, are making significant progress. The launch of our first electric LCV, the IeV-4, has been met with an overwhelmingly positive response from customers,” averred Hinduja. 

The company's optimistic outlook is underpinned by favourable macroeconomic conditions and the recent supportive budget.

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TVS Motor Company has announced a leadership transition, with Sudarshan Venu set to take over as Chairman and Managing Director effective 25 August 2025. The Board of Directors unanimously approved his appointment in recognition of his significant contributions to the company’s growth and strategic direction during his tenure as Director.

Current Chairman Sir Ralf Speth has informed the Board that he will not seek re-appointment as a Director at the upcoming Annual General Meeting (AGM). As a result, he will step down as Chairman at the conclusion of the AGM on 22 August 2025. However, to ensure continuity and leverage his expertise, the Board has appointed Speth as Chief Mentor for a three-year term, effective 23 August 2025.

Venu Srinivasan, Chairman Emeritus, TVS Motor Company, said, "I express my sincere gratitude to Ralf for his exceptional leadership as Chairman over the last three years. His contributions have been invaluable in guiding our strategic expansion into global markets and fostering innovation that has significantly strengthened our industry standing. We are grateful for his continued support as Chief Mentor for TVS Motor and in welcoming Sudarshan into his new role. I am confident that Sudarshan, who, in his capacity as Managing Director, has demonstrated tremendous growth for the business, will take the Company to even greater heights.”

Sir Ralf Speth said, "It has been an honour for me to steer TVS Motor Company as its Chairman over the last three years. I am grateful for the support, cooperation and personal friendships developed during my tenure. As I hand over the Chairmanship to Sudarshan, I am confident that under his leadership, the Company will continue its growth journey while championing core TVS values. Sudarshan’s dynamism and passion underscore his vision for the business, and I am confident that TVS is in safe, responsible hands. I wish Sudarshan and TVS Motor a bright future ahead.”                               

Sudarshan Venu said, "I am very thankful to the Board for giving me this singular opportunity. I am really honoured and excited for the future and look forward to their continued support. TVS has been built on our Chairman Emeritus’s commitment to customer centricity, quality and technology. As we look to the future, we have to build on these values while capitalising on new opportunities and reimagining for the future. I am most grateful to him for his continued guidance. Sir Ralf has been instrumental in challenging and mentoring us to expand more globally, onboard international talent, embrace newer processes and invest in future products and technology. I look forward to his continued mentorship as our Chief Mentor. Importantly, TVS has grown due to the passion and energy of the entire team. I look forward to the continued partnership in our shared future.”

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Environment Day On the occasion of World Environment Day, VE Commercial Vehicles (VECV) has reaffirmed its commitment to sustainability -aligned with India’s Net Zero commitments. It has measurable strides towards reducing its environmental footprint. In this direction, it recently launched the first ever electric truck, the Eicher Pro X that is capable of zero tailpipe emission operation in mid and last-mile delivery segments. 
With electric buses in operation since 2022 in various states across India, VECV has pushed sustainability-led innovation in its Bhopal plant, inaugurated in 2020. This facility is India’s first commercial vehicle manufacturing unit built on Industry 4.0 principles that seamlessly blends digital intelligence, operator ergonomics and eco-conscious design. 
The integration of AI-powered, real-time energy monitoring systems further optimises consumption and boosts operational efficiency. The Eicher Pro X is built in this plant, which also has an all-woman final assembly line. 
Speaking about the company’s commitment to Net Zero, Vinod Aggarwal, MD and CEO, VECV, said, “In line with India’s Net Zero vision defined by Honourable Prime Minister Sh. Narendra Modi ji, VECV is committed to delivering future-ready mobility solutions—from electric, LNG and CNG trucks and buses to emerging technologies like hydrogen and fuel cells—as the market matures. Our investments in smart manufacturing, renewable energy, and responsible resource management reflect a holistic approach to sustainable growth. As we celebrate #WorldEnvironmentDay, let's work together to be the change we want to see!”
Aiming to achieve 70 percent renewable energy usage by FY27 and become water positive by 2030. VECV is focussing on improving our gender diversity, energy efficiency, waste reduction, Zero Waste to landfill, plantation and emissions control by executing impactful projects contributing significantly to the United Nations Sustainable Development Goals (SDGs) 6, 7, 12, and 13. 
A significant milestone in this journey has been by developing a water body with around 52 million litre capacity in its facility at Bhopal. The water body is sufficient to run the plant for four months. Similarly on the energy front, the company has transitioned to 100 percent LED lighting across all its facilities, replacing close to 5000 conventional lighting fixtures. This move has led to a substantial reduction in energy intensity – from 3.85 GJ/MINR in FY23 to 3.74 GJ/MINR of revenue in FY24. 

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Scania Commercial Vehicles India Pvt. Ltd. has announced strategic service agreements with leading finance facilitation companies to improve financing accessibility for its customers in the mining, infrastructure and transport sectors. 
These arrangements integrate financial solutions into the vehicle purchase journey, making Scania’s high-performance vehicles more accessible, accelerating solutions sales growth and reinforcing the company’s customer-first approach in India’s commercial vehicle industry.
Some of the service agreements include financial solutions providers like True Blue Asset Services Pvt. Ltd. (Hyderabad), CorpCare Investech Private Limited (Mumbai) and Connect Residuary Private Limited (Mumbai). 
Each of them brings extensive experience and a robust network of financial institutions, enabling Scania customers to access a wider range of financing options tailored to their operational and business needs. The collaborations ensure hassle-free loan processing with streamlined documentation and quicker approvals, minimising downtime.
 Customers of Scania India stand to benefit from simplified loan procedures and faster approvals. They can now access custom-built financial products such as structured EMIs, leasing models and flexible repayment terms, making them suitable in view of the price and TCO of Scania’s off-road and heavy-duty commercial vehicles.
 “Our customers operate in some of the most demanding sectors of the economy. Access to fast, flexible financing should never be a barrier to progress,” said Silvio Munhoz, Managing Director, Scania Commercial Vehicles India Pvt. Ltd. “By building strong financial partnerships, we are not just enabling vehicle purchases but empowering businesses to scale with confidence, backed by solutions that support their long-term growth,” he explained. 
Scania India sells heavy duty mining tippers in India with a GVW of 40-tonnes and even above to carry out tasks such as the transportation of overburden from deep inside the mine to outside it. The heavy-duty tippers are made at a greenfield facility on the outskirts of Bengaluru. 
 

Image for representative purpose only

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Ashok Leyland has bagged an order for 250 modern trucks from Patanjali Parivahan Private Ltd. The development marks a significant step as the truck maker delivers the first batch of 25 trucks of 1916 model to the North Indian logistics player that has a fleet of approximately 1,000 trucks. 
Speaking about the development, Sanjeev Kumar, President – MHCV, Ashok Leyland, mentioned, “We are thrilled to deliver the first batch of 1916 haulage trucks to Patanjali Parivahan Private Ltd. This partnership reflects their trust in our brand and products, reinforcing our commitment to meeting the evolving needs of customers in the dynamic commercial vehicle sector. Our relationship with Patanjali began in 2014 with the addition of 20 trucks, marking the foundation of a strong and growing collaboration. As Ashok Leyland continues to expand and lead in the commercial vehicle industry, collaborations like these pave the way for a more efficient and progressive logistics sector. The company remains committed to pushing the boundaries of innovation and offering cutting-edge technologies and outstanding customer experience.”
Ram Bharat, Founder, Patanjali Parivahan Pvt Ltd, said, “We have complete trust in the quality and performance of Ashok Leyland trucks. Their outstanding after-sales support ensures seamless operations for us, while their growing service network further enhances our capabilities. This delivery represents more than just new trucks—it signifies a deepening partnership aimed at advancing logistics efficiency. With Ashok Leyland’s dedication to innovation and our forward-thinking approach to transportation, we look forward to continued success on the road.”
 

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