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NSE:ASHOKLEY

ASHOK LEYLAND LTD

Capital Goods › Agricultural Commercial & Construction Vehicles·NIFTY 200NIFTY 500NIFTY INDIA FPI 150NIFTY LARGEMIDCAP 250+10
₹144.45
at close · 28 Oct 2026
▲ 2.45 (+1.73%)
ThemesArtificial Intelligence· growingDefence· growingElectric Vehicles· growingBatteries & Energy Storage· announcedGreen Hydrogen· mention

Latest filings

  1. Senior HR head Raja Radhakrishnan resigns from Ashok Leyland · Management Changes
  2. Ashok Leyland CHRO Raja Radhakrishnan resigns · Management Changes
  3. ICRA reaffirms credit ratings on Ashok Leyland's debt worth Rs 7,379 Cr · Credit & Debt
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures commercial vehicles — medium and heavy commercial vehicles (M&HCV) trucks and buses, light commercial vehicles (LCV), and electric vehicles through its Switch Mobility arm — and sells them to fleet operators, transport businesses, and individual buyers. The commercial vehicle segment contributed 85.7% of FY26 segment revenue at Rs 48,313.71 cr, while a financial services arm that lends to vehicle buyers contributed the remaining 14.3% at Rs 8,049.34 cr. Total commercial vehicle volumes reached a record 220,437 units in FY26, with exports of 18,082 units and a defence business that grew 20%. The company carried net cash of Rs 5,899 cr on its balance sheet and is expanding into Indonesia via a new wholly-owned subsidiary. Materials are the largest cost at 57.2% of revenue, followed by other operating expenses at 12.5% and employee costs at 8.4%.

Revenue mix · reported segments
Commercial vehicle85.7%
Financial service14.3%
Operating scale
Commercial vehicle volumes
220,437 unitsFY26
Export volumes
18,082 unitsFY26
M&HCV truck sales
9,616 unitsJune 2026
LCV sales
7,038 unitsJune 2026
Net cash on balance sheet
Rs 5,899 crFY26
Defence segment growth
20%FY26
Who pays it
Fleet operators, transport companies, and individual buyers of trucks, buses and LCVs; financial services arm lends to vehicle purchasers.
Biggest cost
Raw materials and components at 57.2% of revenue.
Kind of business
Cyclical, asset-heavy commercial vehicle manufacturer with captive financing.
Where it sits
Hinduja Group flagship; one of India's listed commercial vehicle makers with an EV arm (Switch Mobility) that turned net profitable in FY26.
Market Cap
₹84,848 Cr
P / E (TTM)
24.4×
EV / EBITDA
12.6×
Div Yield
2.16%
Growth
23.7%▲
Revenue 5y CAGR
PAT — · EBITDA +32.6%
Quality
14.4%▲
ROCE (5y median)
ROE 20.1% (5y median) · margin 19.4%
Leverage
3.45·
Debt / Equity · high
Net debt ₹57,655 Cr
Revenue FY21→FY26
2.9×▲
Margin +7.0 pts
₹19,454 Cr → ₹56,362 Cr
Cash conversion
-1.17×▼
Operating cash ÷ profit · 5 yrs
₹-12,679 Cr on ₹10,876 Cr
Moves on a normal day
1.16%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 11 Agricultural Commercial & Construction Vehicles peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#5/11
P/B#6/11
ROCE#8/11
ROE#4/11
Debt / Equity#11/11
EBITDA margin#3/12
Revenue growth#9/11
Profit growth#8/10

Scorecard

Measured from the filed financials, judged against its Agricultural Commercial & Construction Vehicles peers · as of FY26 — not investment advice

Strengths
Revenue compounding 24% a year over 5 years
Negative working-capital cycle — the business is funded by its suppliers
Pays out 49% of profit as dividend
Concerns
Carries more debt than its peers — 3.45× equity
higher than 100% of its 11 Agricultural Commercial & Construction Vehicles peers
Over 5 years it reported ₹10,876 Cr of profit and an operating cash outflow of ₹12,679 Cr — -1.17×
Less than 60p of every ₹1 of profit arrived as cash

Charts

How has the market priced it — with filings on the timeline?

ASHOKLEY · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from ASHOK LEYLAND LTD's filed financials and exchange disclosures

What does ASHOK LEYLAND LTD do?

ASHOK LEYLAND LTD is a Agricultural Commercial & Construction Vehicles company listed on NSE and BSE, trading under the symbol ASHOKLEY.

Is ASHOK LEYLAND LTD profitable?

Yes. Over the trailing twelve months ASHOK LEYLAND LTD reported a net profit of ₹3,731 Cr on revenue of ₹57,723 Cr.

Does ASHOK LEYLAND LTD pay a dividend?

Yes. The dividend yield is 2.16% at the current price. It paid out 49% of its profit as dividend in FY26.

Is ASHOK LEYLAND LTD debt-free?

No. It reported borrowings of ₹63,936 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹57,655 Cr after cash. Debt stands at 3.45× equity. That is higher than 100% of its 11 Agricultural Commercial & Construction Vehicles peers.

Is ASHOK LEYLAND LTD expensive compared with its peers?

On trailing P/E, ASHOK LEYLAND LTD ranks 5 of 11 in Agricultural Commercial & Construction Vehicles — cheaper than 60% of them, against an industry median of 27.8×. This is a position, not a valuation judgement.

How much does the ASHOK LEYLAND LTD share price move in a day?

On a typical session ASHOK LEYLAND LTD moves 1.16% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track ASHOK LEYLAND LTD's announcements?

Every NSE and BSE filing by ASHOK LEYLAND LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.