| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 7,133 | 8,587 | 7,427 | 9,781 | 6,540 | 5,058 | 5,168 | 5,102 | 1,525 | 3,861 | 5,974 | 8,277 | 4,086 | 5,556 | 6,649 | 9,916 | 8,464 | 9,585 | 10,389 | 13,244 | 9,704 | 11,412 | 11,091 | 13,575 | 10,717 | 11,350 | 12,021 | 14,770 | 11,760 | 12,661 |
| Expenses | 6,126 | 7,452 | 6,357 | 8,388 | 5,557 | 4,399 | 4,439 | 4,385 | 1,387 | 3,275 | 5,253 | 7,129 | 3,754 | 4,987 | 6,058 | 9,000 | 7,725 | 8,580 | 9,055 | 11,245 | 8,183 | 9,597 | 9,131 | 11,041 | 8,856 | 9,108 | 9,659 | 11,816 | 9,535 | 10,176 |
| EBITDA | 1,007 | 1,135 | 1,070 | 1,394 | 983 | 659 | 729 | 717 | 137 | 586 | 721 | 1,148 | 332 | 569 | 591 | 916 | 740 | 1,005 | 1,334 | 1,999 | 1,522 | 1,815 | 1,960 | 2,534 | 1,861 | 2,242 | 2,362 | 2,955 | 2,225 | 2,486 |
| Operating Profit % | 13 % | 13 % | 14 % | 14 % | 15 % | 13 % | 14 % | 13 % | 7 % | 15 % | 11 % | 12 % | 8 % | 10 % | 9 % | 9 % | 8 % | 10 % | 13 % | 14 % | 15 % | 16 % | 17 % | 18 % | 17 % | 18 % | 19 % | 19 % | 18 % | 19 % |
| Depreciation | 166 | 160 | 175 | 175 | 183 | 178 | 180 | 209 | 185 | 192 | 213 | 245 | 211 | 207 | 214 | 234 | 212 | 209 | 220 | 259 | 227 | 227 | 241 | 233 | 235 | 244 | 268 | 340 | 273 | 268 |
| Interest | 336 | 381 | 401 | 384 | 432 | 457 | 468 | 445 | 485 | 490 | 469 | 458 | 462 | 479 | 465 | 463 | 467 | 499 | 545 | 582 | 655 | 715 | 783 | 829 | 904 | 962 | 1,011 | 1,053 | 1,112 | 1,152 |
| Profit Before Tax | 603 | 732 | 578 | 959 | 441 | 88 | 121 | 89 | -527 | -79 | 66 | 474 | -324 | -84 | -56 | 264 | 96 | 344 | 615 | 1,214 | 679 | 927 | 984 | 1,516 | 766 | 1,078 | 1,132 | 1,621 | 891 | 1,124 |
| Tax | 139 | 182 | 149 | 207 | 166 | 18 | 64 | 31 | -138 | 17 | 27 | 96 | -72 | -1 | 52 | 106 | 74 | 158 | 264 | 411 | 95 | 358 | 375 | 582 | 215 | 312 | 313 | 375 | 234 | 304 |
| Net Profit | 464 | 550 | 429 | 752 | 275 | 70 | 57 | 58 | -389 | -96 | 38 | 377 | -252 | -84 | -108 | 158 | 22 | 186 | 351 | 803 | 585 | 569 | 609 | 934 | 551 | 767 | 820 | 1,246 | 658 | 820 |
| EPS in ₹ | 1.51 | 1.78 | 1.36 | 2.43 | 0.84 | 0.15 | 0.09 | 0.06 | -1.39 | -0.42 | 0.05 | 1.20 | -0.93 | -0.36 | -0.41 | 0.48 | 0.02 | 0.56 | 1.09 | 2.56 | 1.85 | 1.79 | 1.91 | 2.91 | 1.73 | 2.40 | 2.59 | 3.85 | 2.08 | 1.29 |
Ashok Leyland
Ashok Leyland
144.69
-1.55
(-1.06%)
Key Fundamentals
Market Cap
84,983.01 Cr
EPS
10.58
PE Ratio
24.26
Dividend Yield
2.14 %
Industry
Automobiles 52 Week High
152.94
52 Week Low
95.93
PB Ratio
6.83
Debt to Equity
4.27
Sector
Commercial Vehicles Analyst Rating and Forecast
- By Refinitiv from36 analysts
Actual
Company News
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Ashok Leyland achieved record quarterly EBITDA of Rs. 1,162 crores (up 14.2% Y-o-Y) and revenue of Rs. 9,588 crores (up 9.3% Y-o-Y) for Q2 FY26, driven by strong performance across MHCV trucks, exports, and aftermarket businesses. The company maintains positive cash position of Rs. 1,000 crores and announced interim dividend of Re. 1 per share, while benefiting from GST rate cuts and expanding market share in both MHCV and LCV segments.
Ashok Leyland expects the second half of FY26 to outperform the first half in industry volume and growth rates. The company has increased its export volume target to 18,000 units for FY26, compared to 15,500 units last year. The company aims to achieve 25,000 units in exports over the next 2-3 years.
Ashok Leyland delivered solid quarterly performance with revenue of 95.9 billion rupees, up from 87.8 billion rupees year-over-year, though slightly below estimates of 97.5 billion rupees. Net profit remained flat at 7.7 billion rupees compared to the previous year, marginally exceeding estimates of 7.6 billion rupees. EBITDA showed strong growth to 12.46 billion rupees from 10.17 billion rupees year-over-year, surpassing estimates of 11.63 billion rupees. EBITDA margin improved significantly to 13.07% from 11.6% year-over-year, beating estimates of 12%. The company approved a dividend of 1 rupee per share. The Co-CEO expressed confidence about achieving mid-teen EBITDA targets soon, and the company maintains a cash-positive position.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
144.69 | #1 84,983.01 | #4 24.26 | #1 48,893.60 | #7 6.45 | #1 3,383 | #3 6.94 | 54.54 | |
1,903.90 | 15,857.39 | 55.37 | 4,045.90 | -1.24 | 293 | -5.88 | 30.70 | |
960.40 | 11,436.75 | 27.54 | 3,427.40 | 14.59 | 409 | -4.96 | 24.40 | |
2,765.30 | 4,001.84 | 29.31 | 2,405.00 | 9.25 | 122 | -3.67 | 35.51 | |
343.00 | 2,969.56 | 17.43 | 822.90 | 69.46 | 157 | 24.74 | 38.90 | |
284.45 | 1,894.50 | #1 -241.48 | 343.10 | #1 396.53 | 3 | -266.67 | 43.63 | |
449.50 | 1,247.42 | 54.48 | 725.20 | 37.01 | 18 | #1 80.43 | 38.23 | |
908.15 | 204.37 | 9.78 | 90.31 | 19.14 | 25 | -79.17 | 29.81 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
6.45 %
Net Income Growth
25.46 %
Cash Flow Change
102.05 %
ROE
-6.44 %
ROCE
-10.64 %
EBITDA Margin (Avg.)
11.19 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 19,525 | 22,199 | 26,668 | 33,518 | 39,122 | 38,127 | 42,067 | 43,601 | 54,746 | 67,661 | 81,715 |
| Fixed Assets | 6,529 | 5,890 | 6,591 | 6,596 | 6,696 | 8,031 | 8,484 | 7,895 | 8,146 | 8,157 | 8,837 |
| Current Assets | 7,568 | 8,869 | 11,163 | 14,422 | 16,488 | 15,310 | 15,919 | 18,638 | 24,243 | 29,127 | 34,240 |
| Capital Work in Progress | 216 | 87 | 244 | 439 | 678 | 574 | 336 | 240 | 268 | 415 | 577 |
| Investments | 693 | 1,031 | 1,933 | 4,383 | 1,492 | 960 | 1,096 | 2,652 | 4,852 | 2,329 | 6,610 |
| Other Assets | 12,086 | 15,191 | 17,900 | 22,100 | 30,257 | 28,562 | 32,152 | 32,814 | 41,479 | 56,761 | 65,691 |
| Total Liabilities | 19,525 | 22,199 | 26,668 | 33,518 | 39,122 | 38,127 | 42,067 | 43,601 | 54,746 | 67,661 | 81,715 |
| Current Liabilities | 7,840 | 8,242 | 10,399 | 14,192 | 15,316 | 14,795 | 16,224 | 18,616 | 22,455 | 26,680 | 26,552 |
| Non Current Liabilities | 6,910 | 8,276 | 9,287 | 11,081 | 13,985 | 14,436 | 16,713 | 16,395 | 21,495 | 29,166 | 39,318 |
| Total Equity | 4,775 | 5,681 | 6,982 | 8,246 | 9,821 | 8,896 | 9,130 | 8,590 | 10,796 | 11,815 | 15,845 |
| Reserve & Surplus | 4,227 | 4,979 | 6,100 | 7,128 | 8,452 | 7,495 | 7,569 | 7,010 | 8,258 | 8,711 | 11,938 |
| Share Capital | 285 | 285 | 285 | 293 | 294 | 294 | 294 | 294 | 294 | 294 | 294 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 752 | 841 | -668 | 205 | 549 | 421 | -707 | 550 | -122 | 3,309 | 1,327 |
| Investing Activities | -124 | 456 | -1,676 | -3,163 | 1,897 | -1,201 | -973 | -1,917 | -2,904 | 1,135 | -5,759 |
| Operating Activities | 95 | -1,275 | 270 | 1,462 | -3,746 | 383 | -1,065 | 2,845 | -4,499 | -6,258 | 129 |
| Financing Activities | 781 | 1,660 | 738 | 1,905 | 2,398 | 1,239 | 1,331 | -378 | 7,281 | 8,432 | 6,958 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Jul 2025 | Sept 2025 |
| Promoter | 51.54 % | 51.54 % | 51.54 % | 51.54 % | 51.54 % | 51.54 % | 51.54 % | 51.53 % | 51.53 % | 51.53 % | 51.53 % | 51.53 % | 51.52 % | 51.52 % | 51.52 % | 51.52 % | 51.52 % | 51.52 % | 51.52 % | 51.51 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.02 % | 0.01 % | 0.00 % | 0.00 % | 20.22 % | 20.49 % | 21.45 % | 22.03 % | 24.40 % | 24.09 % | 23.50 % | 23.85 % | 24.02 % | 24.32 % |
| DIIs | 16.59 % | 17.33 % | 18.81 % | 19.85 % | 21.18 % | 20.94 % | 18.55 % | 21.17 % | 22.16 % | 20.80 % | 16.51 % | 14.66 % | 12.23 % | 14.12 % | 12.35 % | 13.04 % | 14.06 % | 13.88 % | 13.61 % | 13.59 % |
| Government | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.08 % | 0.07 % |
| Public / Retail | 12.23 % | 11.71 % | 11.11 % | 11.40 % | 11.73 % | 10.34 % | 9.77 % | 10.32 % | 9.97 % | 9.64 % | 10.00 % | 11.65 % | 13.11 % | 10.79 % | 10.26 % | 9.87 % | 9.56 % | 9.36 % | 9.45 % | 9.07 % |
| Others | 19.56 % | 19.34 % | 18.46 % | 17.13 % | 15.47 % | 17.11 % | 20.05 % | 16.90 % | 16.26 % | 17.95 % | 1.67 % | 1.60 % | 1.61 % | 1.46 % | 1.41 % | 1.41 % | 1.28 % | 1.32 % | 1.32 % | 1.44 % |
| No of Share Holders | 10,05,180 | 10,19,250 | 10,36,770 | 11,60,870 | 12,42,010 | 11,20,960 | 10,96,220 | 11,30,370 | 11,18,110 | 10,99,980 | 12,06,480 | 13,39,740 | 14,91,400 | 14,75,870 | 14,59,210 | 14,56,050 | 14,45,000 | 13,92,220 | 14,12,490 | 14,50,990 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.95 | 1.56 | 2.43 | 3.1 | 0.5 | 0.6 | 1 | 2.6 | 4.95 | 6.25 |
| Dividend Yield (%) | 2.25 | 2.14 | 5.32 | 14.4 | 0.88 | 1.02 | 1.44 | 3.04 | 4.85 | 4.32 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 02 Sept 2021 |  Dividend | ₹ 0.60 /share | 31 Aug 2021 | 59.55 | 61.25 |
| 15 Jul 2022 | Dividend | ₹ 1.00 /share | 14 Jul 2022 | 63.20 | 70.85 |
| 29 Jul 2022 |  Annual General Meeting | NA | 29 Jul 2022 | 63.20 | 72.78 |
| 07 Jul 2023 | Dividend | ₹ 2.60 /share | 07 Jul 2023 | 76.58 | 82.60 |
| 21 Jul 2023 | Annual General Meeting | NA | 21 Jul 2023 | 76.58 | 87.83 |
| 03 Apr 2024 | Dividend | ₹ 4.95 /share | 03 Apr 2024 | 83.33 | 88.28 |
| 25 Jul 2024 | Annual General Meeting | NA | 25 Jul 2024 | 106.20 | 116.23 |
| 08 Nov 2024 |  Quarterly Result Announcement | NA | 08 Nov 2024 | 108.63 | 107.90 |
| 19 Nov 2024 | Dividend | ₹ 2.00 /share | 19 Nov 2024 | 107.90 | 110.15 |
| 12 Feb 2025 | Quarterly Result Announcement | NA | 12 Feb 2025 | 204.55 | 101.80 |
| 22 May 2025 | Dividend | ₹ 4.25 /share | 22 May 2025 | 119.60 | 122.28 |
| 23 May 2025 | Quarterly Result Announcement | NA | 23 May 2025 | 113.38 | 119.38 |
| 16 Jul 2025 |  Bonus | 1:1 | 16 Jul 2025 | 124.95 | 125.43 |
| 14 Aug 2025 | Quarterly Result Announcement | NA | 14 Aug 2025 | 120.35 | 119.70 |
| 14 Aug 2025 | Annual General Meeting | NA | 14 Aug 2025 | 119.38 | 119.70 |
| 12 Nov 2025 | Quarterly Result Announcement | NA | 12 Nov 2025 | 140.10 | 146.05 |
| 18 Nov 2025 | Dividend | ₹ 1.00 /share | 18 Nov 2025 | 146.05 | 148.40 |
Announcements
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
3 days ago
3 days agoRecord Date For Interim Dividend FY 25-2610 days ago
10 days agoUnaudited Financial Results For The Quarter And Half-Year Ended September 30 202510 days ago
10 days agoRecord DateNov 07, 2025
Nov 07, 2025Update on board meetingNov 07, 2025
Nov 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 06, 2025
Nov 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 06, 2025
Nov 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 01, 2025
Nov 01, 2025Announcement under Regulation 30 (LODR)-Monthly Business UpdatesNov 01, 2025
Nov 01, 2025Board Meeting Intimation for Approval Of The Unaudited Financial Results For The Quarter And Half Year Ended September 30 2025Oct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Change in ManagementOct 17, 2025
Oct 17, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderOct 16, 2025
Oct 16, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSOct 10, 2025
Oct 10, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 06, 2025
Oct 06, 2025Announcement under Regulation 30 (LODR)-Monthly Business UpdatesOct 01, 2025
Oct 01, 2025Closure of Trading WindowSep 25, 2025
Sep 25, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 20, 2025
Sep 20, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 18, 2025
Sep 18, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 17, 2025
Sep 17, 2025Announcement under Regulation 30 (LODR)-Credit RatingSep 13, 2025
Sep 13, 2025Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPSSep 11, 2025
Sep 11, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 09, 2025
Sep 09, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 06, 2025
Sep 06, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotSep 05, 2025
Sep 05, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 04, 2025
Sep 04, 2025Announcement under Regulation 30 (LODR)-Memorandum of Understanding /AgreementsSep 01, 2025
Sep 01, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 01, 2025
Sep 01, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseSep 01, 2025
Sep 01, 2025Reconstitution Of CommitteesSep 01, 2025
Sep 01, 2025Announcement under Regulation 30 (LODR)-Monthly Business UpdatesSep 01, 2025
Sep 01, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 28, 2025
Aug 28, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 28, 2025
Aug 28, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateAug 25, 2025
Aug 25, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 21, 2025
Aug 21, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportAug 18, 2025
Aug 18, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 14, 2025
Aug 14, 2025Announcement under Regulation 30 (LODR)-AcquisitionAug 14, 2025
Aug 14, 2025Board Meeting Outcome for Outcome Of Board MeetingAug 14, 2025
Aug 14, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateAug 14, 2025
Aug 14, 2025Unaudited Financial Results For The Quarter Ended June 30 2025Aug 14, 2025
Aug 14, 2025Regulation 30 (Disclosure Of Events Or Information) - Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015Aug 11, 2025
Aug 11, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 11, 2025
Aug 11, 2025Secretarial Audit Report Of Hinduja Leyland Finance Limited
Material Subsidiary Of The CompanyAug 08, 2025
Aug 08, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 06, 2025
Aug 06, 2025Board Meeting Intimation for Approval Of Quarterly Unaudited ResultsAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Monthly Business UpdatesAug 01, 2025
Aug 01, 2025Newspaper Publication Relating To Annual General MeetingJul 19, 2025
Jul 19, 2025Business Responsibility and Sustainability Reporting (BRSR)Jul 18, 2025
Jul 18, 2025Reg. 34 (1) Annual Report.Jul 18, 2025
Jul 18, 202576Th Annual General Meeting Of Ashok Leyland LimitedJul 18, 2025
Jul 18, 2025Mutual Fund Holdings
Mirae Asset Midcap Fund Direct - Growth 
Kotak Large & Midcap Fund Direct-Growth 
SBI Quant Fund Direct-Growth 
Tata Focused Fund Direct - Growth 
Franklin India Large & Mid Cap Fund Direct-Growth 
HDFC Flexi Cap Direct Plan-Growth 
HSBC Large Cap Fund Direct-Growth 
Bandhan Multi-Factor Fund Direct - Growth 
ICICI Prudential Business Cycle Fund Direct - Growth 
Navi Large & Midcap Fund Direct-Growth 
Bank of India Multi Cap Fund Direct-Growth 
Groww Multi Asset Allocation Fund Direct-Growth 
Motilal Oswal Nifty Midcap 150 Index Fund Direct - Growth 
ITI Mid Cap Fund Direct - Growth 
Samco Dynamic Asset Allocation Fund Direct - Growth Technical Indicators
RSI(14)
Neutral 54.54
ATR(14)
Less Volatile 3.40
STOCH(9,6)
Neutral 52.75
STOCH RSI(14)
Oversold 13.38
MACD(12,26)
Bullish 0.05
ADX(14)
Strong Trend 34.17
UO(9)
Bearish 47.53
ROC(12)
Uptrend And Accelerating 3.03
WillR(14)
Neutral -55.63
About Ashok Leyland
Ashok Leyland Ltd is an Indian automobile manufacturer specializing in commercial vehicles. The company produces a wide range of products including buses, trucks, engines, defense vehicles, and special application vehicles. Ashok Leyland's operations span manufacturing, sales, vehicle financing, and IT services. Their product lineup includes various categories of trucks, buses, light commercial vehicles, power solutions, and defense vehicles. The company has manufacturing facilities in India, the UK, and UAE. Ashok Leyland is the flagship of the Hinduja Group and has joint ventures with international partners for construction equipment, automotive infotronics, and aluminum components. The company has been expanding its product portfolio, particularly in areas like electric vehicles and CNG models, while also growing its distribution network and international presence.
Website
Chairperson NameD G Hinduja
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