āagman

Not investment advice. Data and computed figures, for information only.

Ashok Leyland Ltd

NSE: ASHOKLEYF&O
₹148.18
+₹3.18 (+2.19%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹85,206 Cr
CMP
₹148.18
52-wk High / Low
₹215 / 134
P/E
22.9
P/B
6.0
Book Value
₹24.2
Div Yield
2.41%
ROCE
14.0%
ROE
27.4%
Face Value
₹1
D/E
4.49

Price+7.7% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
2
/ 9
2 of 9 F-score tests passed
Graham Number
₹57
√(22.5 × EPS × book value per share)
ROIC
8.9%
vs 12.3% sector median
Cash flow to profit
−1.32
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−12
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
12.3%
ROE × earnings retention ratio
ROE stability
12.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −3.90DII +2.69
Latest quarter vs the previous one
Cash-accrual divergence
9.5%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 5.8pp over the last year
+PE of 22.9x is below the sector median of 43.6x
Watch-outs
−Latest ROCE of 14% trails the sector median of 19%
−Borrowings are up 478.4% since FY2016 (11054 to 63936)
−Price trades below its 200-day moving average (0.9x)
−Price is 31.2% below its 52-week high
−Piotroski F-Score of 2/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9,69111,42911,09313,54210,72411,14811,99514,69611,70912,57714,83017,24613,070
Expenses8,1839,5599,13110,9758,8569,1089,65911,7059,53510,13612,00813,93810,660
Operating Profit1,5091,8701,9612,5671,8682,0402,3362,9912,1732,4412,8223,3082,410
OPM %15.6%16.4%17.7%19.0%17.4%18.3%19.5%20.4%18.6%19.4%19.0%19.2%18.4%
Other Income53−14610362457522103103−140186195
Interest6557157838299049621,0111,0531,1121,1521,2001,2411,341
Depreciation227227241233235244268340273268282314315
Profit before tax6799279841,5167651,0781,1321,6218911,1241,2001,940950
Net Profit5845696099345517678201,2466588208621,381668
EPS (₹)0.930.900.951.450.871.201.301.921.041.291.382.201.05

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales15,70821,26022,87129,63633,19721,95119,45426,23741,67345,70348,53556,36257,723
Expenses14,19118,28119,82625,38728,28718,71816,99223,47236,58037,84839,32745,61746,741
Operating Profit1,5172,9793,0454,2484,9103,2332,4622,7655,0937,8569,20810,74510,982
OPM %9.7%14.0%13.3%14.3%14.8%14.7%12.7%10.5%12.2%17.2%19.0%19.1%19.0%
Other Income−106−32140619013957207−230169160405252343
Interest8729251,0491,2271,5021,8021,9011,8692,0942,9823,9304,7054,933
Depreciation5805245736466767508368669009271,0871,1381,179
Profit before tax−421,2091,8292,5652,872739−67−2002,2694,1064,5965,1555,213
Net Profit−2057121,6331,8142,195460−70−2851,3622,6963,3833,7213,731
EPS (₹)0.241.202.793.013.540.57−0.28−0.612.114.235.295.915.92

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital285285285293294294294294294294294587—
Reserves4,2274,9796,1087,1288,4527,4957,5687,0108,2608,71111,93813,654—
Borrowings9,07011,05413,16815,79119,16822,41724,07724,14531,16140,80249,96263,936—
Other Liabilities6,0115,8067,04810,17111,2127,92410,11912,12514,96517,78819,35222,527—
Total Liabilities19,59222,12326,60933,38339,12638,13042,05843,57454,67967,59581,5461,00,704—
Fixed Assets6,5295,8906,5916,5966,6958,0318,4847,8958,1298,1578,83710,435—
CWIP21687244439678574336240268415577940—
Investments1,4991,0311,9334,3831,4929601,0962,6524,8522,3296,6107,467—
Other Assets11,34815,11517,84121,96530,26128,56532,14332,78741,43056,69565,52381,862—
Total Assets19,59222,12326,60933,38339,12638,13042,05843,57454,67967,59581,5461,00,704—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity−10495−1,2752701,462−3,745383−1,0652,845−4,499−6,258128−4,895
Cash from Investing Activity−378−124456−1,676−3,1631,897−1,201−973−1,917−2,9041,135−5,759−6,986
Cash from Financing Activity4617811,6607381,9052,3981,2391,331−3787,2818,4326,95811,617
Net Cash Flow−20752841−668205549421−707550−1223,3091,327−264

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—8.017.015.017.016.09.05.06.011.015.014.014.0
ROE %————————————27.4
EPS (₹)−0.310.241.202.793.013.540.57−0.28−0.612.114.235.295.91
Book Value (₹)————————————24.2
Face Value (₹)————————————1
P/E————————————22.9
Div Yield %————————————2.41
NPM %−1.9−1.33.47.06.16.62.1−0.4−1.13.35.96.96.6
OPM %4.010.014.013.014.015.015.013.011.012.017.019.019.0
D/E2.132.012.102.062.132.192.883.063.313.644.534.084.49
P/B————————————6.0

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+10.0%
5 years+24.0%
3 years+11.0%
TTM+17.0%
Compounded profit growth
10 years+15.0%
5 years+84.0%
3 years+45.0%
TTM+17.0%
Stock price CAGR
10 years+14.0%
5 years+16.0%
3 years+18.0%
Last year+5.0%
Return on equity
10 years19.0%
5 years22.0%
3 years28.0%
Last year27.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters50.38%50.38%51.27%51.12%51.54%51.54%51.54%51.53%51.52%51.52%51.51%51.51%
FIIs17.89%17.89%23.26%19.06%16.94%18.08%13.45%14.85%21.45%23.50%24.57%20.67%
DIIs9.79%9.79%11.07%10.00%14.98%16.72%21.94%22.15%12.23%14.06%13.06%15.75%
Government0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.07%0.07%0.07%0.07%0.07%
Public21.86%21.86%14.32%19.74%16.46%13.58%12.99%11.40%14.72%10.84%10.79%11.99%
No. of shareholders5,18,9725,18,9724,81,4048,62,9369,51,72510,05,18012,42,00811,18,10714,91,39714,44,99815,02,64016,45,114
Change since Jun 2023 (pp)
Promoters +1.13FIIs +2.78DIIs +5.96Public −9.87

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Credit RatingCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Monthly Business UpdatesClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Credit Rating
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptJun 2026TranscriptJun 2026RecordingFeb 2026TranscriptFeb 2026RecordingNov 2025TranscriptAug 2025Transcript

Corporate actions

As of 3 Jun 2026
3 Jun 2026DIVIDENDInterim Dividend - Rs 2.50 Per Share—
18 Nov 2025DIVIDENDInterim Dividend - Re 1 Per Share—
16 Jul 2025BONUSBonus 1:1—
22 May 2025DIVIDENDInterim Dividend - Rs 4.25 Per Share—
19 Nov 2024DIVIDENDInterim Dividend - Rs 2 Per Share—
3 Apr 2024DIVIDENDInterim Dividend - Rs 4.95 Per Share—
7 Jul 2023DIVIDENDAnnual General Meeting/Dividend - Rs 2.60 Per Share—
14 Jul 2022DIVIDENDAnnual General Meeting/Dividend - Rs 1 Per Share—
31 Aug 2021DIVIDEND Annual General Meeting/Dividend - Rs 0.60 Per Share—
19 Mar 2020DIVIDEND Interim Dividend -Rs 0.50 Per Share—
23 Jul 2019DIVIDEND Annual General Meeting/ Dividend - Rs 3.10 Per Share—
9 Jul 2018DIVIDEND Dividend- Rs 2.43 Per Share—
11 Jul 2017DIVIDEND Annual General Meeting/Dividend - Rs 1.56/- Per Share—
13 Jul 2016DIVIDEND Annual General Meeting/Dividend Re 0.95 Per Share—
17 Jun 2015DIVIDENDAnnual General Meeting/Dividend - Re 0.45 Per Share—
4 Jul 2013DIVIDENDAnnual General Meeting / Dividend - Re.0.60/- Per Equity Share—
12 Jul 2012DIVIDENDAnnual General Meeting And Dividend Re.1/- Per Share—
2 Aug 2011BONUSBonus 1:1—
29 Jun 2011DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share—
16 Jul 2010DIVIDENDAnnual General Meeting And Dividend Rs.1.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman