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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]
Market LeadershipThe company is India's 2nd largest manufacturer of commercial vehicles, the 4th largest manufacturer of buses globally, and the 9th largest manufacturer of trucks.[1]It had a market share of31% in the M&HCV bus and truck segmentand20% in the LCV segmentas of FY24.[2]
| 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 | 356.45 | 485.41 | 131274.91 | 0.00 | -1021.00 | 40.83 | 16861.00 | 8.65 | – | 0.00 | – | -0.08 | 933.00 | – | – | 0.57 |
| 2. | Ashok Leyland | 160.21 | 27.59 | 94105.02 | 1.95 | 771.06 | 16.19 | 9588.18 | 9.34 | 36.48 | 39698.07 | 12.93 | 3410.82 | 800.64 | 8.16 | 13.00 | 0.12 |
| 3. | SML Mahindra | 3520.00 | 36.06 | 5102.83 | 0.51 | 21.05 | -3.44 | 555.11 | 0.98 | 27.12 | 2503.62 | 10.19 | 141.49 | 21.05 | 11.48 | 9.68 | 0.57 |
| 4. | Atul Auto | 449.30 | 46.15 | 1246.87 | 0.00 | 8.27 | 69.50 | 200.17 | 10.20 | 6.48 | 759.08 | 7.94 | 27.02 | 9.17 | 2.75 | 2.74 | 0.32 |
| – | Median: 4 Co. | 402.88 | 41.11 | 49603.93 | 0.26 | 14.66 | 28.51 | 5071.65 | 9.0 | 27.12 | 1631.35 | 10.19 | 84.26 | 410.84 | 8.16 | 9.68 | 0.44 |
Standalone figures in ₹ crores
| 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 |
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 |
Operating Profit | 537 | 797 | 1,276 | 821 | 1,080 | 1,114 | 1,592 | 911 | 1,017 | 1,211 | 1,791 | 970 | 1,162 |
Other Income | 28 | 39 | 95 | 51 | 25 | 29 | 48 | 22 | 215 | 25 | 92 | 53 | 95 |
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 | 1.30 | 2.12 | 1.01 | 1.31 |
Standalone Figures in ₹ Crores / Yearly
| 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 |
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 |
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 |
Other Income | 622 | 225 | -888 | -199 | 168 | 106 | -32 | 107 | 587 | 201 | 153 | 354 | 265 |
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 |
Net Profit | 29 | 335 | 390 | 1,223 | 1,718 | 1,983 | 240 | -314 | 542 | 1,380 | 2,618 | 3,303 | 3,372 |
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% | – |
Standalone figures in ₹ crores
| 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 |
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 |
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 |
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 |
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 |
Standalone Figures in ₹ Crores / Yearly
| 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 |
Cash from Investing Activity | -111 | 103 | 364 | -1,477 | -3,429 | 2,312 | -2,176 | -976 | -1,459 | -1,736 | 902 | -4,078 |
Cash from Financing Activity | -449 | -1,179 | -1,211 | -1,372 | -2,091 | -1,616 | 1,149 | 206 | -724 | -940 | -1,917 | -3,024 |
Net Cash Flow | -3 | 700 | 836 | -694 | 123 | 334 | -86 | -749 | 464 | -540 | 1,488 | 718 |
Standalone Figures in ₹ Crores / Yearly
| 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% |
Direct from BSE filings, auto-summarised
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