Chennai: Electric mobility firm Switch Mobility, a subsidiary of Ashok Leyland, reported a sharp rise in electric bus volumes and turned profitable in FY26, aided by growing adoption of electric public transport solutions in India.
The company delivered 1,530 electric buses during FY26, registering a growth of 238 per cent over the previous financial year, Ashok Leyland said while announcing its annual results on Thursday.
Switch Mobility’s electric light commercial vehicle (e-LCV) volumes also rose 56 per cent year-on-year to 1,606 units during the fiscal.
The company’s revenue more than doubled to Rs 1,807 crore in FY26. It posted a profit after tax of Rs 104 crore during the year against a loss of Rs 62 crore in FY25.
Ashok Leyland said the strong growth in the electric mobility business contributed to the group’s record financial performance in FY26.
The parent company reported its highest-ever annual revenues, EBITDA and profit after tax for the financial year ended March 31, 2026.
Ashok Leyland Chairman Dheeraj Hinduja said the company witnessed significant growth in its electric mobility business alongside strong momentum in power solutions and aftermarket operations.
“Our CV and export volumes were at an all-time high, reflecting the deep trust our customers place in us,” he said.
Managing Director and CEO Shenu Agarwal said the group’s strong cash position and improving profitability would support future investments in technology and next-generation mobility solutions.