Ashok Leyland Limited

Capital Goods · Agricultural, Commercial & Construction Vehicles

NSE: ASHOKLEY BSE: 500477

₹154.19

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Agricultural, Commercial & Construction Vehicles

The largest companies in the same industry by market cap. This company ranks #2 of 14. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Tata Motors Limited	155,272	44.7	—	—	0.95%	68	0	29
Ashok Leyland Limited (this stock)	90,569	25.3	20.1%	9.2%	2.27%	54	31	12
Escorts Kubota Limited	30,377	21.4	19.4%	-25.4%	1.88%	75	66	10
BEML Limited	16,595	69.4	4.8%	-53.9%	—	71	3	50
Action Construction Equipment Limited	14,671	32.8	20.6%	15.2%	0.16%	84	3	88
SML Mahindra Limited	9,519	60.9	30.8%	109.6%	0.36%	75	0	53
Ajax Engineering Limited	6,716	29.5	16.2%	-10.2%	—	65	23	85
V.S.T Tillers Tractors Limited	3,799	34.5	9.6%	-16.5%	—	62	26	68

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹89,733 Cr

EV / EBITDA

15.7x

EV / Sales

2.00x

Market cap / Sales

2.02x

Earnings yield

3.96%

Quarterly Financials

Download CSV

Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 9,719 Cr, up 10.7% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 609 Cr, up 2.6% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	9,634	830	609	₹1.0400
March 31, 2026	14,160	1,909	1,405	₹2.3900
Dec. 31, 2025	11,534	1,064	796	₹1.3600
Sept. 30, 2025	9,588	1,043	771	₹1.3100
June 30, 2025	8,725	798	594	₹1.0100
March 31, 2025	11,907	1,657	1,246	₹4.2400
Dec. 31, 2024	9,479	994	762	₹2.5900
Sept. 30, 2024	8,769	996	770	₹2.6200
June 30, 2024	8,599	701	526	₹1.7900
March 31, 2024	11,267	1,401	900	₹3.0700
Dec. 31, 2023	9,273	903	580	₹1.9800
Sept. 30, 2023	9,638	865	561	₹1.9100
June 30, 2023	8,189	622	576	₹1.9600

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	9,719	14,229	11,593	9,723	8,777	12,013	9,503	8,866	8,621	11,385	9,303	9,686	8,240
Operating revenue	9,634	14,160	11,534	9,588	8,725	11,907	9,479	8,769	8,599	11,267	9,273	9,638	8,189
Other income	85	68	59	135	53	106	25	97	22	118	30	47	51
Operating expenses	8,665	12,095	9,999	8,426	7,755	10,116	8,267	7,752	7,688	9,675	8,159	8,558	7,369
Operating profit	970	2,066	1,535	1,162	970	1,791	1,211	1,017	911	1,592	1,114	1,080	821
Operating profit margin	10.1%	14.6%	13.3%	12.1%	11.1%	15.0%	12.8%	11.6%	10.6%	14.1%	12.0%	11.2%	10.0%
Depreciation	183	183	177	172	183	179	192	175	173	180	178	180	179
Interest	42	42	44	42	42	47	50	61	59	59	62	59	70
Exceptional items, gain / (loss)	—	—	-308	-40	—	-14	—	117	—	-70	-1	-23	-1
Profit before tax	830	1,909	1,064	1,043	798	1,657	994	996	701	1,401	903	865	622
Tax	221	504	268	272	204	411	232	226	176	501	323	304	46
Net profit	609	1,405	796	771	594	1,246	762	770	526	900	580	561	576
EPS	1.04	2.39	1.36	1.31	1.01	4.24	2.59	2.62	1.79	3.07	1.98	1.91	1.96
Net profit (TTM)	3,581	3,566	3,407	3,372	3,371	3,303	2,958	2,776	2,567	2,618	2,469	2,250	1,888
EPS (TTM)	6.10	6.07	7.92	9.15	10.46	11.24	10.07	9.46	8.75	8.92	8.41	7.66	6.43

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	44,007	4,814	3,566
March 31, 2025	38,753	4,348	3,303
March 31, 2024	38,367	3,792	2,618
March 31, 2023	36,144	2,110	1,380

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	6.9%	23.5%	44,322^†	39,003^†	38,614^†	36,260^†	21,764^†	15,421^†	17,591^†	29,137^†	26,637^†	21,091^†
Operating revenue	6.8%	23.5%	44,007	38,753	38,367	36,144	21,688^†	15,301^†	17,467^†	29,029^†	26,447^†	20,951^†
Other income	—	—	315^†	250^†	247^†	116^†	76^†	120^†	123^†	108^†	190^†	140^†
Operating expenses	—	—	38,275^†	33,822^†	33,760^†	33,213^†	20,694^†	14,766^†	16,294^†	25,941^†	23,708^†	18,655^†
Operating profit	25.1%	60.7%	5,732^†	4,931^†	4,607^†	2,931^†	995^†	535^†	1,174^†	3,089^†	2,739^†	2,296^†
Operating profit margin	—	—	13.0%^†	12.7%^†	12.0%^†	8.1%^†	4.6%^†	3.5%^†	6.7%^†	10.6%^†	10.4%^†	11.0%^†
Depreciation	—	—	715^†	719^†	718^†	732^†	753^†	748^†	670^†	604^†	555^†	506^†
Interest	—	—	170^†	217^†	249^†	289^†	301^†	307^†	109^†	65^†	131^†	141^†
Exceptional items, gain / (loss)	—	—	-348^†	104^†	-94^†	85^†	511^†	-12^†	-156^†	-48^†	-15^†	-358^†
Profit before tax	31.6%	—	4,814	4,348	3,792	2,110	528^†	-412^†	362^†	2,473^†	2,231^†	1,354^†
Tax	—	—	1,248^†	1,045^†	1,174^†	730^†	-14^†	-98^†	122^†	609^†	668^†	107^†
Net profit	37.2%	—	3,566	3,303	2,618	1,380	542^†	-314^†	240^†	1,864^†	1,563^†	1,247^†
EPS	8.9%	—	6.07^†	11.24^†	8.92^†	4.70^†	1.85^†	-1.07^†	0.80^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	13.0%^†	12.7%^†	12.0%^†	8.1%^†	4.6%^†	3.5%^†	6.7%^†	10.6%^†	10.4%^†	11.0%^†
EBIT margin	11.3%^†	11.8%^†	10.5%^†	6.6%^†	3.8%^†	-0.7%^†	2.7%^†	8.7%^†	8.9%^†	7.1%^†
PBT margin	10.9%	11.2%	9.9%	5.8%	2.4%^†	-2.7%^†	2.1%^†	8.5%^†	8.4%^†	6.5%^†
Net margin	8.1%	8.5%	6.8%	3.8%	2.5%^†	-2.1%^†	1.4%^†	6.4%^†	5.9%^†	6.0%^†
Interest coverage	29.36x^†	21.05x^†	16.20x^†	8.30x^†	2.75x^†	-0.34x^†	4.31x^†	39.19x^†	18.00x^†	10.59x^†
Dividend payout	86.5%^†	61.8%^†	29.1%^†	21.3%^†	32.4%^†	—	450.0%^†	—	—	—
Earnings retention	13.5%^†	38.2%^†	70.9%^†	78.7%^†	67.6%^†	—	-350.0%^†	—	—	—
Current ratio	1.10x	1.08x	—	—	—	—	—	—	—	—
Quick ratio	0.84x	0.82x	—	—	—	—	—	—	—	—
Debt to equity	0.09x	0.13x	—	—	—	—	—	—	—	—
Return on equity	27.2%	28.7%	—	—	—	—	—	—	—	—
Return on assets	12.5%	12.9%	—	—	—	—	—	—	—	—
Return on capital employed	32.6%^†	32.4%^†	—	—	—	—	—	—	—	—
Asset turnover	1.54x	1.52x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	4,792	-3,205	-2,217	1,050	3,743
March 31, 2025	7,819	-4,078	-3,024	954	6,865
March 31, 2024	2,503	902	-1,917	496	2,008
March 31, 2023	2,136	-1,735	-940	502	1,634
March 31, 2022	2,647	-1,459	-724	400	2,247

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	28,594	13,113	12,526	648	547	14,662	13,327	2,031	5,335	3,486
March 31, 2025	25,526	11,519	11,225	548	934	12,309	11,426	2,660	4,682	2,957
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.