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Leyland Powers Ahead: Record Revenue in Q1
15 Aug
Summary
- Company achieved record Q1 revenue of INR9,634 crore, a 10% increase year-over-year.
- Total commercial vehicle volume reached a new Q1 peak of 48,673 units.
- Strong growth reported in domestic LCV and MHCV segments, alongside aftermarket and power solutions.
In the first quarter, the company announced record revenue, achieving INR9,634 crore, which represents a 10% increase compared to the same period last year. This growth was bolstered by a new Q1 peak in total commercial vehicle volume, with 48,673 units delivered. The domestic market showed particular strength, with MHCV truck volume up 15% and LCV offtake volume up 21%, marking the highest-ever Q1 for LCVs.
Further bolstering its performance, the company saw significant year-over-year revenue growth in its domestic aftermarket division, which rose by 12.7%. The Power Solutions segment experienced a substantial 51% increase in revenue, while the Defense segment saw a 64% surge. Financial services arms, Hinduja Leyland Finance and Hinduja Housing Finance, also reported healthy growth in assets under management and profits.
Electric mobility initiatives are also progressing, with Switch Mobility delivering electric buses and light commercial vehicles, and maintaining a substantial order book for e-buses. Ohm Mobility's electric bus fleet continues to expand. Despite strong domestic performance, export volumes saw a 18% decline year-over-year. The company ended the quarter with a robust net cash position of INR2,252 crore.
