Switch Mobility reported its first-ever profit in fiscal year 2026. The Ashok Leyland subsidiary generated approximately ₹1,800 crore in annual revenue. EBITDA margins for the period exceeded 15%.
The turnaround follows heavy capital investment in electric buses and light commercial vehicles. This milestone signals the EV unit is moving toward self-sustainability. It validates Ashok Leyland’s long-term electric vehicle strategy.
Profitability reduces financial pressure on the parent company’s consolidated balance sheet. Management now focuses on sustaining margins despite rising competition and supply chain risks.