Ashok Leyland Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 28.1%)
- ✓Attractively valued vs sector (P/E 23.5x vs industry 53.3x)
- ✓Regular dividends — yield 2.4%
Concerns
- ✗Heavy debt load (D/E 4.5x)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| BEL Bharat Electronics Limited | ₹408 | ₹3.0L Cr | 49.2 | 12.44 | 27.6 | 36.5 | 0 |
| HAL Hindustan Aeronautics Limited | ₹4,216 | ₹2.9L Cr | 31.4 | 6.87 | 24 | 32 | 0 |
| CUMMINSIND Cummins India Limited | ₹5,776 | ₹1.6L Cr | 65.3 | 18.88 | 30.2 | 39.5 | 0 |
| ABB ABB India Limited | ₹7,160 | ₹1.5L Cr | 99.4 | 19.35 | 22.4 | 29.9 | 0.01 |
| POLYCAB Polycab India Limited | ₹9,670 | ₹1.4L Cr | 53.7 | 12.12 | 24.5 | 34.3 | 0.02 |
| BHEL Bharat Heavy Electricals Limited | ₹387 | ₹1.4L Cr | 89.4 | 5.15 | 6.29 | 8.51 | 0.45 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹938 | ₹1.4L Cr | 116 | 18.54 | 20.8 | 27 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
ASHOKLEY · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 51.53% | 51.52% | 51.52% | 51.52% | 51.52% | 51.52% |
| FII | 20.48% | 21.45% | 22.03% | 24.39% | 24.09% | 23.50% |
| DII | 14.66% | 12.23% | 14.12% | 12.34% | 13.04% | 14.06% |
| Public | 13.25% | 14.72% | 12.24% | 11.66% | 11.28% | 10.84% |
| Govt | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
Corporate Events
Interim Dividend - Rs 2.50 Per Share
To consider and approve the financial results for the period ended March 31, 2026, dividend and Fund Raising
To consider second interim dividend
Interim Dividend - Re 1 Per Share
Bonus 1:1
Interim Dividend - Rs 4.25 Per Share
Interim Dividend - Rs 2 Per Share
Interim Dividend - Rs 4.95 Per Share
Annual General Meeting/Dividend - Rs 2.60 Per Share
Latest News
All news →Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹14.8K Cr ▲17.9% | ₹12.6K Cr ▲7.4% | ₹11.7K Cr ▼20.3% | ₹14.7K Cr ▲22.5% | ₹12.0K Cr ▲7.6% | ₹11.1K Cr ▲4.0% | ₹10.7K Cr ▼20.8% | ₹13.5K Cr |
| Op. Profit | ₹2.8K Cr ▲15.6% | ₹2.4K Cr ▲12.3% | ₹2.2K Cr ▼27.3% | ₹3.0K Cr ▲28.0% | ₹2.3K Cr ▲14.5% | ₹2.0K Cr ▲9.2% | ₹1.9K Cr ▼27.2% | ₹2.6K Cr |
| OPM | 19.0% ▲0.0% | 19.0% ▲0.0% | 19.0% ▼5.0% | 20.0% ▲5.3% | 19.0% ▲5.6% | 18.0% ▲5.9% | 17.0% ▼10.5% | 19.0% |
| Net Profit | ₹862 Cr ▲5.1% | ₹820 Cr ▲24.6% | ₹658 Cr ▼47.2% | ₹1.2K Cr ▲52.0% | ₹820 Cr ▲6.9% | ₹767 Cr ▲39.2% | ₹551 Cr ▼41.0% | ₹934 Cr |
| EPS (₹) | 1.38 ▲7.0% | 1.29 ▲24.0% | 1.04 ▼45.8% | 1.92 ▲47.7% | 1.3 ▲8.3% | 1.2 ▲37.9% | 0.87 ▼40.0% | 1.45 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹56.4K Cr ▲16.1% | ₹48.5K Cr ▲6.2% | ₹45.7K Cr ▲9.7% | ₹41.7K Cr ▲58.8% | ₹26.2K Cr ▲34.9% | ₹19.5K Cr ▼11.4% | ₹22.0K Cr ▼33.9% | ₹33.2K Cr ▲12.0% | ₹29.6K Cr ▲29.6% | ₹22.9K Cr |
| Expenses | ₹45.6K Cr ▲16.0% | ₹39.3K Cr ▲3.9% | ₹37.8K Cr ▲3.5% | ₹36.6K Cr ▲55.8% | ₹23.5K Cr ▲38.1% | ₹17.0K Cr ▼9.2% | ₹18.7K Cr ▼33.8% | ₹28.3K Cr ▲11.4% | ₹25.4K Cr ▲28.0% | ₹19.8K Cr |
| Op. Profit | ₹10.7K Cr ▲16.7% | ₹9.2K Cr ▲17.2% | ₹7.9K Cr ▲54.3% | ₹5.1K Cr ▲84.2% | ₹2.8K Cr ▲12.3% | ₹2.5K Cr ▼23.8% | ₹3.2K Cr ▼34.2% | ₹4.9K Cr ▲15.6% | ₹4.2K Cr ▲39.5% | ₹3.0K Cr |
| OPM | 19.0% ▲0.0% | 19.0% ▲11.8% | 17.0% ▲41.7% | 12.0% ▲9.1% | 11.0% ▼15.4% | 13.0% ▼13.3% | 15.0% ▲0.0% | 15.0% ▲7.1% | 14.0% ▲7.7% | 13.0% |
| Other Income | ₹252 Cr ▼37.8% | ₹405 Cr ▲153.1% | ₹160 Cr ▼3.6% | ₹166 Cr ▲172.2% | ₹-230 Cr ▼211.1% | ₹207 Cr ▲263.2% | ₹57 Cr ▼59.0% | ₹139 Cr ▼26.8% | ₹190 Cr ▼53.2% | ₹406 Cr |
| Interest | ₹4.7K Cr ▲19.7% | ₹3.9K Cr ▲31.8% | ₹3.0K Cr ▲42.4% | ₹2.1K Cr ▲12.0% | ₹1.9K Cr ▼1.7% | ₹1.9K Cr ▲5.5% | ₹1.8K Cr ▲20.0% | ₹1.5K Cr ▲22.4% | ₹1.2K Cr ▲17.0% | ₹1.0K Cr |
| Depreciation | ₹1.1K Cr ▲4.7% | ₹1.1K Cr ▲17.3% | ₹927 Cr ▲3.0% | ₹900 Cr ▲3.9% | ₹866 Cr ▲3.6% | ₹836 Cr ▲11.5% | ₹750 Cr ▲10.9% | ₹676 Cr ▲4.6% | ₹646 Cr ▲12.7% | ₹573 Cr |
| PBT | ₹5.2K Cr ▲12.2% | ₹4.6K Cr ▲11.9% | ₹4.1K Cr ▲81.3% | ₹2.3K Cr ▲1232.5% | ₹-200 Cr ▼198.5% | ₹-67 Cr ▼109.1% | ₹739 Cr ▼74.3% | ₹2.9K Cr ▲12.0% | ₹2.6K Cr ▲40.2% | ₹1.8K Cr |
| Tax % | 28.0% ▲7.7% | 26.0% ▼23.5% | 34.0% ▼15.0% | 40.0% ▼7.0% | 43.0% ▲975.0% | 4.0% ▼89.5% | 38.0% ▲58.3% | 24.0% ▼17.2% | 29.0% ▲163.6% | 11.0% |
| Net Profit | ₹3.7K Cr ▲10.0% | ₹3.4K Cr ▲25.5% | ₹2.7K Cr ▲98.4% | ₹1.4K Cr ▲576.8% | ₹-285 Cr ▼307.1% | ₹-70 Cr ▼115.2% | ₹460 Cr ▼79.0% | ₹2.2K Cr ▲21.0% | ₹1.8K Cr ▲11.1% | ₹1.6K Cr |
| EPS (₹) | 5.91 ▲11.7% | 5.29 ▲25.1% | 4.23 ▲100.5% | 2.11 ▲445.9% | -0.61 ▼117.9% | -0.28 ▼149.1% | 0.57 ▼83.9% | 3.54 ▲17.6% | 3.01 ▲7.9% | 2.79 |
| Div Payout | 59.0% ▲0.0% | 59.0% ▲0.0% | 59.0% ▼4.8% | 62.0% ▲175.6% | -82.0% ▲23.4% | -107.0% ▼343.2% | 44.0% ▲0.0% | 44.0% ▲10.0% | 40.0% ▲42.9% | 28.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹587 Cr ▲99.7% | ₹294 Cr ▲0.0% | ₹294 Cr ▲0.0% | ₹294 Cr ▲0.0% | ₹294 Cr ▲0.0% | ₹294 Cr ▲0.0% | ₹294 Cr ▲0.0% | ₹294 Cr ▲0.3% | ₹293 Cr ▲2.8% | ₹285 Cr |
| Reserves | ₹12.0K Cr ▲0.5% | ₹11.9K Cr ▲37.0% | ₹8.7K Cr ▲5.5% | ₹8.3K Cr ▲17.8% | ₹7.0K Cr ▼7.4% | ₹7.6K Cr ▲1.0% | ₹7.5K Cr ▼11.3% | ₹8.5K Cr ▲18.6% | ₹7.1K Cr ▲16.7% | ₹6.1K Cr |
| Borrowings | ₹54.5K Cr ▲9.1% | ₹50.0K Cr ▲22.4% | ₹40.8K Cr ▲30.9% | ₹31.2K Cr ▲29.1% | ₹24.1K Cr ▲0.3% | ₹24.1K Cr ▲7.4% | ₹22.4K Cr ▲17.0% | ₹19.2K Cr ▲21.4% | ₹15.8K Cr ▲19.9% | ₹13.2K Cr |
| Other Liabilities | ₹18.2K Cr ▼5.9% | ₹19.4K Cr ▲8.8% | ₹17.8K Cr ▲18.7% | ₹15.0K Cr ▲23.6% | ₹12.1K Cr ▲19.8% | ₹10.1K Cr ▲27.7% | ₹7.9K Cr ▼29.3% | ₹11.2K Cr ▲10.2% | ₹10.2K Cr ▲44.3% | ₹7.0K Cr |
| Total Liabilities | ₹85.3K Cr ▲4.6% | ₹81.5K Cr ▲20.6% | ₹67.6K Cr ▲23.6% | ₹54.7K Cr ▲25.5% | ₹43.6K Cr ▲3.6% | ₹42.1K Cr ▲10.3% | ₹38.1K Cr ▼2.5% | ₹39.1K Cr ▲17.2% | ₹33.4K Cr ▲25.5% | ₹26.6K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹9.5K Cr ▲7.5% | ₹8.8K Cr ▲8.3% | ₹8.2K Cr ▲0.1% | ₹8.1K Cr ▲3.2% | ₹7.9K Cr ▼6.9% | ₹8.5K Cr ▲5.6% | ₹8.0K Cr ▲20.0% | ₹6.7K Cr ▲1.5% | ₹6.6K Cr ▲0.1% | ₹6.6K Cr |
| CWIP | ₹1.0K Cr ▲80.6% | ₹577 Cr ▲39.0% | ₹415 Cr ▲54.9% | ₹268 Cr ▲11.7% | ₹240 Cr ▼28.6% | ₹336 Cr ▼41.5% | ₹574 Cr ▼15.3% | ₹678 Cr ▲54.4% | ₹439 Cr ▲79.9% | ₹244 Cr |
| Investments | ₹5.5K Cr ▼16.1% | ₹6.6K Cr ▲183.8% | ₹2.3K Cr ▼52.0% | ₹4.9K Cr ▲83.0% | ₹2.7K Cr ▲142.0% | ₹1.1K Cr ▲14.2% | ₹960 Cr ▼35.7% | ₹1.5K Cr ▼66.0% | ₹4.4K Cr ▲126.7% | ₹1.9K Cr |
| Other Assets | ₹69.2K Cr ▲5.6% | ₹65.5K Cr ▲15.6% | ₹56.7K Cr ▲36.8% | ₹41.4K Cr ▲26.4% | ₹32.8K Cr ▲2.0% | ₹32.1K Cr ▲12.5% | ₹28.6K Cr ▼5.6% | ₹30.3K Cr ▲37.8% | ₹22.0K Cr ▲23.1% | ₹17.8K Cr |
| Total Assets | ₹85.3K Cr ▲4.6% | ₹81.5K Cr ▲20.6% | ₹67.6K Cr ▲23.6% | ₹54.7K Cr ▲25.5% | ₹43.6K Cr ▲3.6% | ₹42.1K Cr ▲10.3% | ₹38.1K Cr ▼2.5% | ₹39.1K Cr ▲17.2% | ₹33.4K Cr ▲25.5% | ₹26.6K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹128 Cr ▲102.0% | ₹-6.3K Cr ▼39.1% | ₹-4.5K Cr ▼258.1% | ₹2.8K Cr ▲367.1% | ₹-1.1K Cr ▼378.1% | ₹383 Cr ▲110.2% | ₹-3.7K Cr ▼356.2% | ₹1.5K Cr ▲441.5% | ₹270 Cr ▲121.2% | ₹-1.3K Cr |
| Investing CF | ₹-5.8K Cr ▼607.4% | ₹1.1K Cr ▲139.1% | ₹-2.9K Cr ▼51.5% | ₹-1.9K Cr ▼97.0% | ₹-973 Cr ▲19.0% | ₹-1.2K Cr ▼163.3% | ₹1.9K Cr ▲160.0% | ₹-3.2K Cr ▼88.7% | ₹-1.7K Cr ▼467.5% | ₹456 Cr |
| Financing CF | ₹7.0K Cr ▼17.5% | ₹8.4K Cr ▲15.8% | ₹7.3K Cr ▲2026.2% | ₹-378 Cr ▼128.4% | ₹1.3K Cr ▲7.4% | ₹1.2K Cr ▼48.3% | ₹2.4K Cr ▲25.9% | ₹1.9K Cr ▲158.1% | ₹738 Cr ▼55.5% | ₹1.7K Cr |
| Net Cash Flow | ₹1.3K Cr ▼59.9% | ₹3.3K Cr ▲2812.3% | ₹-122 Cr ▼122.2% | ₹550 Cr ▲177.8% | ₹-707 Cr ▼267.9% | ₹421 Cr ▼23.3% | ₹549 Cr ▲167.8% | ₹205 Cr ▲130.7% | ₹-668 Cr ▼179.4% | ₹841 Cr |
| Free Cash Flow | ₹-1.5K Cr ▲80.0% | ₹-7.3K Cr ▼37.2% | ₹-5.4K Cr ▼319.1% | ₹2.4K Cr ▲236.4% | ₹-1.8K Cr ▼90.5% | ₹-940 Cr ▲80.6% | ₹-4.8K Cr ▼688.2% | ₹823 Cr ▲595.8% | ₹-166 Cr ▲87.5% | ₹-1.3K Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 25d ▼19.4% | 31d ▼16.2% | 37d ▼17.8% | 45d ▼21.1% | 57d ▲128.0% | 25d ▼16.7% | 30d ▲114.3% | 14d ▼30.0% | 20d ▼20.0% | 25d |
| Inventory Days | 49d ▼2.0% | 50d ▲13.6% | 44d ▼17.0% | 53d ▼30.3% | 76d ▲81.0% | 42d ▼19.2% | 52d ▲23.8% | 42d ▼42.5% | 73d ▲46.0% | 50d |
| Days Payable | 99d ▲16.5% | 85d ▼11.5% | 96d ▼36.0% | 150d ▼7.4% | 162d ▲80.0% | 90d ▲2.3% | 88d ▼8.3% | 96d ▲12.9% | 85d ▲19.7% | 71d |
| Cash Conv. Cycle | -24d ▼500.0% | -4d ▲75.0% | -16d ▲69.2% | -52d ▼73.3% | -30d ▼36.4% | -22d ▼266.7% | -6d ▲84.6% | -39d ▼587.5% | 8d ▲60.0% | 5d |
| Working Capital Days | -32d ▲28.9% | -45d ▼32.4% | -34d ▲34.6% | -52d ▼18.2% | -44d ▼41.9% | -31d ▼138.5% | -13d ▲75.9% | -54d ▼157.1% | -21d ▲8.7% | -23d |
| ROCE | 14.0% ▼6.7% | 15.0% ▲36.4% | 11.0% ▲83.3% | 6.0% ▲20.0% | 5.0% ▼44.4% | 9.0% ▼43.8% | 16.0% ▼5.9% | 17.0% ▲13.3% | 15.0% ▼11.8% | 17.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Ashok Leyland Limited
Ashok Leyland is the flagship Company of the Hinduja group, having a long-standing presence in the domestic medium and heavy commercial vehicle (M&HCV) segment. The company has a strong brand and well-diversified distribution and service network across the country and has a presence in 50 countries, it is one of the most fully-integrated manufacturing companies. Its headquarter is in Chennai [1] They manage driver training institutes across India and have trained over 8,00,000 drivers since inception. [1]
Capital Goods · Agricultural, Commercial & Construction Vehicles