Ashok Leyland Ltd

₹ 184 -1.53%

16 Jan 3:31 p.m.

🔗 Website | BSE: 500477 | NSE: ASHOKLEY

Market Cap1,08,079

Current Price184

High / Low192

Stock P/E31.7

Book Value19.6

Dividend Yield1.69

ROCE36.5

ROE31.4

ABOUT

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]

Stock Analysis

Description

RSWM Limited is a textile manufacturer and exporter of various types of yarns and fabrics, and also produces Green Polyester fibers, part of the LNJ Bhilwara Group.

Key Growth Triggers

Currently no data available for Key Growth Triggers.

Order Book

Currently no data available for Order Book.

Key Red Flags

Currently no data available for Key Red Flags.

Key Dates To Watch

Currently no data available for Key Dates To Watch.

Peer Comparison

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Tata Motors	437.15	595.22	160973.19	0.00	-1021.00	40.83	16861.00	8.65		0.00		-0.08	933.00			0.57
2.	Ashok Leyland	184.00	31.73	108078.92	1.69	771.06	16.19	9588.18	9.34	36.48	39698.07	12.93	3410.82	800.64	9.28	13.00	0.12
3.	SML Mahindra	4397.70	44.97	6363.43	0.40	21.05	-3.44	555.11	0.98	27.12	2503.62	10.19	141.49	21.05	14.36	9.68	0.57
4.	Atul Auto	432.75	44.45	1200.95	0.00	8.27	69.50	200.17	10.20	6.48	759.08	7.94	27.02	9.17	2.68	2.74	0.32

Quarterly Results

Figures in Cr.

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	8,266	9,030	11,626	8,189	9,638	9,273	11,267	8,599	8,769	9,479	11,907	8,725	9,588
YOY Sales Growth %	85.42%	63.13%	32.95%	13.38%	16.6%	2.69%	-3.09%	5%	-9.02%	2.22%	5.68%	1.47%	9.34%
Expenses	7,729	8,232	10,350	7,369	8,558	8,159	9,675	7,688	7,752	8,267	10,116	7,755	8,426
Material Cost %	78%	76%	76%	74%	74%	72%	72%	72%	71%	71%	71%	71%	71%
Employee Cost %	6%	6%	5%	7%	6%	6%	5%	6%	7%	6%	5%	7%	7%
Operating Profit	537	797	1,276	821	1,080	1,114	1,592	911	1,017	1,211	1,791	970	1,162
OPM %	6%	9%	11%	10%	11%	12%	14%	11%	12%	13%	15%	11%	12%
Other Income	28	39	95	51	25	29	48	22	215	25	92	53	95
Exceptional items	8	7	56	-1	-23	-1	-70	0	117	0	-14	0	-40
Other income normal	20	32	39	51	47	30	118	22	97	25	106	53	135
Interest	77	80	63	70	59	62	59	59	61	50	47	42	42
Depreciation	177	189	184	179	180	178	180	173	175	192	179	183	172
Profit before tax	312	567	1,125	622	865	903	1,401	701	996	994	1,657	798	1,043
Tax %	36%	36%	33%	7%	35%	36%	36%	25%	23%	23%	25%	26%	26%
Net Profit	199	361	751	576	561	580	900	526	770	762	1,246	594	771
EPS in Rs	0.34	0.62	1.28	0.98	0.96	0.99	1.53	0.89	1.31	1.3	2.12	1.01	1.31

Profit & Loss

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	10,301	13,916	18,937	20,140	26,356	29,055	17,467	15,301	21,688	36,144	38,367	38,753	39,698
Sales Growth %	—	—	—	—	—	—	—	—	—	—	—	—	—
Expenses	10,184	12,890	16,487	17,938	23,393	25,973	16,294	14,766	20,694	33,213	33,760	33,822	34,564
Material Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Raw material cost	—	—	—	—	—	—	—	—	—	—	—	—	—
Change in inventory	—	—	—	—	—	—	—	—	—	—	—	—	—
Manufacturing Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Employee Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Cost %	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating Profit	117	1,027	2,451	2,203	2,964	3,082	1,174	535	995	2,931	4,607	4,931	5,134
OPM %	1%	7%	13%	11%	11%	11%	7%	4%	5%	8%	12%	13%	13%
Other Income	622	225	-888	-199	168	106	-32	107	587	201	153	354	265
Exceptional items	—	—	—	—	—	—	—	—	—	—	—	—	—
Other income normal	—	—	—	—	—	—	—	—	—	—	—	—	—
Interest	453	394	248	155	147	70	109	307	301	289	249	217	181
Depreciation	377	416	488	518	598	621	670	748	753	732	718	719	726
Profit before tax	-91	442	827	1,330	2,386	2,497	362	-412	528	2,110	3,792	4,348	4,491
Tax %	-132%	24%	53%	8%	28%	21%	34%	-24%	-3%	35%	31%	24%	—
Net Profit	29	335	390	1,223	1,718	1,983	240	-314	542	1,380	2,618	3,303	3,372
Exceptional items AT	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit excl Excep	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit for PE	—	—	—	—	—	—	—	—	—	—	—	—	—
Profit for EPS	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS in Rs	0.06	0.59	0.68	2.15	2.93	3.38	0.41	-0.53	0.92	2.35	4.46	5.62	5.74
Dividend Payout %	0%	38%	69%	36%	41%	46%	61%	-56%	54%	55%	56%	56%	—

Balance Sheet

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	266	285	285	285	293	294	294	294	294	294	294	294	587
Reserves	4,182	4,834	5,123	5,841	6,953	8,039	6,970	6,684	7,043	8,132	8,517	11,225	10,942
Borrowings	4,690	3,350	2,415	2,145	1,226	632	3,322	3,759	3,554	3,225	2,299	1,482	1,344
Long term Borrowings	3,297	2,566	1,821	1,146	513	298	1,354	2,558	2,851	1,766	1,132	902	839
Short term Borrowings	587	25	25	199	100	100	1,711	1,171	656	1,414	1,123	533	465
Lease Liabilities	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Borrowings	806	758	569	800	614	234	217	0	0	0	0	0	—
Other Liabilities	3,670	4,843	4,952	5,769	8,865	9,260	5,804	7,714	9,443	10,941	12,502	12,525	10,493
Trade Payables	2,214	2,828	2,563	3,117	4,888	5,019	2,624	5,165	6,875	7,175	6,305	7,305	5,800
Advance from Customers	142	287	274	215	811	412	254	146	123	106	201	163	—
Other liability items	1,314	1,728	2,115	2,437	3,166	3,828	2,926	2,403	2,445	3,660	5,995	5,057	4,693
Total Liabilities	12,808	13,311	12,774	14,040	17,336	18,224	16,390	18,450	20,334	22,592	23,612	25,526	23,367
Fixed Assets	5,660	5,256	4,792	4,971	5,548	5,615	6,804	7,050	6,601	6,304	5,952	5,845	6,019
Land	1,085	952	529	625	761	738	1,098	992	977	920	924	953	—
Building	1,558	1,584	1,261	1,339	1,389	1,495	1,631	1,792	1,827	1,871	1,936	2,045	—
Plant Machinery	4,802	4,764	2,924	3,227	3,556	3,904	4,668	5,257	5,531	5,783	5,859	6,030	—
Equipments	206	211	47	52	68	122	162	170	174	192	231	280	—
Furniture & fittings	—	—	—	—	—	—	—	—	—	—	—	—	—
Vehicles	149	148	72	44	84	74	120	145	136	145	196	177	—
Intangible Assets	510	511	267	309	759	881	1,536	1,791	1,805	1,940	1,982	2,060	1,295
Other fixed assets	272	296	153	220	260	307	332	336	240	243	254	284	—
Gross Block	8,672	8,555	5,279	5,858	6,930	7,594	9,620	10,558	10,764	11,168	11,462	11,909	—
Accumulated Depreciation	3,012	3,300	487	887	1,382	1,979	2,816	3,507	4,163	4,864	5,510	6,064	—
CWIP	182	120	76	206	423	658	594	372	194	133	202	425	857
Investments	2,790	2,649	1,980	2,879	5,607	2,636	2,720	3,069	4,820	6,664	5,560	8,673	7,778
Other Assets	4,177	5,287	5,925	5,985	5,759	9,316	6,272	7,959	8,719	9,491	11,899	10,583	8,713
Inventories	1,189	1,399	1,625	2,631	1,758	2,685	1,238	2,142	2,075	2,774	3,191	2,957	3,547
Trade receivables	1,299	1,243	1,251	1,064	945	2,506	1,180	2,816	3,111	4,062	3,570	2,887	3,004
Receivables under 6m	1,218	1,001	981	1,113	945	2,578	1,260	2,945	3,228	3,751	3,171	2,656	—
Receivables over 6m	87	241	270	0	0	0	0	0	0	429	516	370	—
Prow for Doubtful	—	—	—	—	—	—	—	—	—	—	—	—	—
Cash Equivalents	12	751	1,593	912	1,042	1,374	1,322	823	1,047	501	3,438	2,706	769
Loans & Advances	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Assets items	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Assets	12,808	13,311	12,774	14,040	17,336	18,224	16,390	18,450	20,334	22,592	23,612	25,526	23,367

Cash Flows

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	556	1,777	1,683	2,155	5,643	-362	941	21	2,647	2,136	2,503	7,819
Profit from operations	216	1,122	2,303	2,325	3,101	3,162	1,211	549	1,006	2,963	4,651	5,019
Receivables	117	44	-13	337	32	-1,572	1,314	-1,702	-292	-968	495	654
Inventory	707	-210	-349	-810	903	-926	1,447	-904	21	-699	-416	233
Payables	0	0	-272	440	1,578	129	-2,402	2,133	1,732	295	-868	1,003
Loans Advances	-84	-183	0	0	0	0	0	0	0	6	-5	4
Other WC items	-370	1,053	454	209	456	-594	-534	-132	108	939	-729	1,846
Working capital changes	370	705	-179	177	2,969	-2,964	-176	-606	1,570	-427	-1,523	3,741
Direct taxes	-30	-50	-441	-348	-427	-560	-94	78	71	-400	-625	-941
Cash from Investing Activity	-111	103	364	-1,477	-3,429	2,312	-2,176	-976	-1,459	-1,736	902	-4,078
Fixed assets purchased	-220	-211	-170	-378	-540	-763	-1,313	-656	-400	-502	-496	-954
Fixed assets sold	110	305	204	12	5	32	20	40	104	76	14	30
Investments purchased	-538	-100	-100	-1,096	-2,976	-203	-448	-368	-1,300	-1,459	-1,567	-3,460
Investments sold	510	26	480	26	1	3,205	17	7	0	6	2,602	24
Interest received	14	26	44	66	54	39	26	102	34	44	65	39
Redeemp Cnce of Shares	—	—	—	—	—	—	—	—	—	—	—	—
Acquisition of companies	—	—	—	—	—	—	—	—	—	—	—	—
Other investing items	38	25	-99	-108	25	1	1	-601	103	299	200	-0
Cash from Financing Activity	-449	-1,179	-1,211	-1,372	-2,091	-1,616	1,149	206	-724	-940	-1,917	-3,024
Redemption of debentures	—	—	—	—	—	—	—	—	—	—	—	—
Proceeds from borrowings	14,873	7,757	14,553	6,365	9,240	10,951	13,832	6,877	5,274	2,926	5,994	4,942
Repayment of borrowings	-14,690	-9,181	-15,342	-7,248	-10,618	-11,613	-11,245	-6,387	-5,531	-3,300	-6,884	-5,718
Interest paid fin	-436	-406	-268	-164	-168	-103	-146	-272	-276	-260	-246	-149
Dividends paid	-187	0	-154	-325	-549	-860	-1,270	0	-176	-294	-763	-2,041
Financial liabilities	0	0	0	0	0	0	-22	-12	-15	-18	-20	-59
Other financing items	-9	-16	0	0	0	0	0	0	0	0	0	0
Net Cash Flow	-3	700	836	-694	123	334	-86	-749	464	-540	1,488	718

Ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	46	33	24	19	13	31	25	67	52	41	34	27
Inventory Days	57	51	45	69	35	47	37	69	45	36	42	39
Days Payable	106	104	71	81	97	89	77	165	150	94	82	97
Cash Conversion Cycle	-3	-20	-2	7	-49	-10	-16	-30	-52	-17	-7	-30
Working Capital Days	-52	-39	-25	-38	-69	-25	-61	-39	-40	-27	-39	-45
ROCE %	-2%	8%	23%	22%	30%	30%	6%	-1%	3%	20%	36%	36%

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	51.53%	51.53%	51.53%	51.53%	51.53%	51.52%	51.52%	51.52%	51.52%	51.52%	51.52%	51.51%
Citibank N_A_ New York, Nyadr Department	11.3	11.3	11.3	11.3	11.3	11.3	—	—	—	—	—	—
Hinduja Automotive Limited	35	35	35	35	35	35	35	35	35	35	35	35
Hinduja Bank (Switzerland) Ltd	4.98	4.98	4.98	4.98	4.98	4.97	4.97	4.97	4.97	4.97	4.97	4.97
Hinduja Foundries Holding Limited	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24	0.24
Jp Morgan Chase Bank, Na	—	—	—	—	—	—	11.3	11.3	11.3	11.3	11.3	11.3
FIIs	15.29%	14.85%	16.59%	20.21%	20.48%	21.45%	22.03%	24.39%	24.09%	23.5%	23.85%	24.32%
Government Of Singapore	—	—	—	—	—	—	—	1.88	2.86	3.11	2.58	2.3
Government Pension Fund Global	1.3	1.19	2.28	2.3	2	1.97	1.94	1.93	1.75	1.73	1.76	1.75
Matthews Pacific Tiger Fund	1.19	1.08	1.08	—	—	—	—	—	—	—	—	—
Schroder International Selection Fund Emerging Asia	1.47	1.47	1.47	—	—	—	—	—	—	—	—	—
T_ Rowe Price Emerging Markets Discovery Stock Trust	—	—	—	—	—	—	—	1.08	1.22	1.29	1.29	1.32
DIIs	21.16%	22.15%	20.79%	16.51%	14.66%	12.23%	14.12%	12.34%	13.04%	14.06%	13.88%	13.59%
ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED (Und___	—	1.06	—	—	—	—	—	—	—	—	—	—
CANARA ROBECO MUTUAL FUND (Under different sub accounts)	—	1.06	1.07	1.19	—	—	—	—	—	—	—	—
FRANKLIN INDIA MUTUAL FUND (Under different sub accounts)	1.32	1.01	—	—	—	—	—	—	—	—	—	—
FRANKLIN TEMPLETON MUTUAL FUND (Under different su___	—	—	—	—	—	—	—	—	—	—	—	1.01
HDFC LIFE INSURANCE COMPANYLIMITED (Under Differen___	—	1.57	1.54	1.55	1.59	1.52	1.36	1.32	1.21	1.09	—	—
Hdfc Life Insurance Companylimited /Shareholders S___	1.52	—	—	—	—	—	—	—	—	—	—	—
ICICI PRUDENTIAL MUTUAL FUND (Under Different Sub Accounts)	1.08	1.85	1.76	—	—	—	—	—	—	—	—	—
Icici Prudential Life Insurance Company Limited	1.83	1.83	1.88	1.42	1.14	—	—	—	—	—	—	—
KOTAK MAHINDRA TRUSTEE CO LTD (Under Different sub___	—	—	1.26	1.23	1.41	—	—	—	1.03	1.22	1.34	1.1
LIFE INSURANCE CORPORATION OF INDIA (Under differe___	—	—	—	—	—	1.41	2.03	2.7	2.7	2.7	2.27	1.52
MIRAE ASSET MUTUAL FUND (Under different sub accounts )	1.68	2.05	1.94	—	—	—	—	—	—	—	—	—
NPS TRUST (Under different sub accounts)	1.27	1.52	1.65	1.35	1.55	1.41	1.07	—	—	—	—	—
SBI MUTUAL FUND (Under Different sub accounts)	1.26	1.27	1.43	1.27	1.6	1.5	2.03	1.74	2.02	2.19	1.87	1.89
SUNDARAM MUTUAL FUND (Under different sub accounts)	1.4	1.29	1.16	—	—	—	—	—	—	—	—	—
Sbi Life Insurance Co_ Ltd	—	—	—	—	—	—	1.23	1.14	—	1.42	1.46	1.63
Government	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%	0.07%
Public	11.94%	11.4%	11.02%	11.66%	13.25%	14.72%	12.24%	11.66%	11.28%	10.84%	10.67%	10.51%
Others	—	—	—	—	—	—	—	—	—	—	—	—
No. of Shareholders	11,30,372	11,18,107	10,99,982	12,06,482	13,39,744	14,91,397	14,75,874	14,59,212	14,56,048	14,44,998	13,92,223	14,50,991

News & Updates

BSE Announcements

Direct from BSE filings, AI summarised

RSWM Limited Files SEBI Compliance Certificate for Quarter Ended December 31, 2025

5 Jan 2026

Ashok Leyland Appoints Alfred Nixon Mendez as Head of Product Development; Dr. N. Saravanan to Focus on Strategy

2 Jan 2026

Ashok Leyland Appoints Alfred Nixon Mendez as Head of Product Development; Dr. N. Saravanan to Focus on Strategy

2 Jan 2026

Ashok Leyland Reports Robust December 2025 Sales Growth, Driven by M&HCV and LCV Segments

1 Jan 2026

Ashok Leyland Announces Trading Window Closure for Q3 FY26 Results Amidst Strong Past Performance and Strategic Investments

26 Dec 2025

Other Websites

External media mentions

Commercial Vehicle Sales Surge 10% Driven by GST 2.0 and Festival Demand

16 Jan 2026

Midday Meltdown: Nifty Crumbles, Stocks Reel on Earnings & Deal Woes

12 Jan 2026

India Eyes ₹6,000 Cr Electric Bus Tender; Auto Giants Vie for Orders

10 Jan 2026

Ashok Leyland Inaugurates ₹1000 Cr EV Bus Plant in Lucknow

9 Jan 2026

Ashok Leyland EV Plant Launch: Minister Hails UP's Green Mobility Push

9 Jan 2026

News Articles

Editorial & research coverage

Commercial Vehicle Sales Surge 10% Driven by GST 2.0 and Festival Demand

16 Jan 2026

Midday Meltdown: Nifty Crumbles, Stocks Reel on Earnings & Deal Woes

12 Jan 2026

India Eyes ₹6,000 Cr Electric Bus Tender; Auto Giants Vie for Orders

10 Jan 2026

Dalal Street Slumps 5 Days Straight as US Tariff Fears Grip Investors

9 Jan 2026

Ashok Leyland Surges 3% on Record Volumes, Outperforming Weak Market

9 Jan 2026

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

null

Announcement under Regulation 30 (LODR)-Change in Management

2 Jan - Alfred Nixon Mendez appointed Head of Product Development, effective Jan 2, 2026; Dr. Saravanan shifts to strategic CTO role.

Announcement under Regulation 30 (LODR)-Monthly Business Updates

1 Jan - December 2025 sales: Total vehicles 21,533 (up 27%); cumulative 150,979 (up 11%).

Closure of Trading Window

null

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

null

Annual Reports

FY Financial Year 2025

(from bse)

FY Financial Year 2024

(from bse)

FY Financial Year 2023

(from bse)

FY Financial Year 2022

(from bse)

FY Financial Year 2021

(from bse)

FY Financial Year 2020

(from bse)

FY Financial Year 2019

(from bse)

FY Financial Year 2018

(from bse)

FY Financial Year 2017

(from bse)

FY Financial Year 2016

(from bse)

FY Financial Year 2015

(from bse)

FY Financial Year 2014

(from bse)

FY Financial Year 2013

(from bse)

FY Financial Year 2012

(from bse)

FY Financial Year 2011

(from bse)

Credit Ratings

Rating update

22 Sep 2025 from care

Rating update

12 Sep 2025 from icra

Rating update

26 Sep 2024 from care

Rating update

13 Sep 2024 from icra

Rating update

12 Oct 2023 from icra

Rating update

4 Oct 2023 from care

Concalls

Nov 2025

Transcript

Aug 2025

Transcript

May 2025

Transcript

Feb 2025

Transcript

Nov 2024

Transcript

Aug 2024

Transcript Audio

Jun 2024

PPT Audio

Feb 2024

Transcript PPT

Nov 2023

Transcript

Jul 2023

Transcript

May 2023

Transcript

Feb 2023

Transcript

Nov 2021

Transcript

Aug 2021

Transcript PPT

Jun 2021

Transcript

Feb 2021

Transcript PPT

Nov 2020

Transcript

Aug 2020

Transcript

Jun 2020

Transcript

Feb 2020

Transcript

Nov 2019

Transcript PPT

Jul 2019

Transcript

May 2019

Transcript

Feb 2019

Transcript

Nov 2018

Transcript

Nov 2017

Transcript

Ashok Leyland Ltd

ABOUT

Stock Analysis

Description

Key Growth Triggers

Order Book

Key Red Flags

Key Dates To Watch

Peer Comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

News & Updates

BSE Announcements

Other Websites

News Articles

Documents

Announcements

Annual Reports

Credit Ratings

Concalls