Ashok Leyland posts record Q1 CV volume as profit rises 1.5%

Demand across key segments remains strong, Hinduja said in a statement. He pointed to government initiatives such as Parivartan as potential catalysts for fleet modernisation and long-term industry growth.

Ashok Leyland's board approved two investments. It will put up to 25 million pounds, roughly ₹325 crore, into its UK bus subsidiary Optare Plc. It also plans to invest up to ₹500 crore in equity shares of Hinduja Housing Finance Ltd through secondary purchases.

Chief Executive Shenu Agarwal said the Indian CV industry stayed buoyant despite geopolitical headwinds, citing "strong industry fundamentals" and sustained growth potential. He flagged rising material costs as a concern but said the company is working on better price realisation, cost savings, product mix improvement and opportunity-based inventory building.

Switch Mobility, the company's electric-vehicle arm, continues to gain traction. Hinduja said Ashok Leyland is strengthening its presence in international markets and the defence business to diversify its growth drivers.