Ashok Leyland Ltd.

BSE: ASHOKLEY500477ISIN INE208A01029

Industrials
Commercial Vehicles
BSE 100

BSE listing

Share price

₹162.80+3.90 (+2.45%)

as of 18 Sep 2026

52W high: ₹215.35
52W low: ₹134.20
Off 52W high: -24.40%
1M return: -6.17%
3M return: +3.89%
6M return: -3.61%
1Y return: +17.42%
20D avg volume: 6,90,905
50 DMA: ₹166.51
200 DMA: ₹171.57

Key ratios Consolidated

Market cap: ₹95,626 Cr
Current price: ₹162.80
52W high / low: ₹215.35 / ₹134.20
Face value: ₹1.00
P/E: 25.63
P/B: —
EPS (TTM): ₹6.35
Book value / share: —
ROE: —
ROCE: 14.40%
Operating margin: —
Net margin: —
Debt / equity: 3.45
Net debt: ₹57,655 Cr
Interest cover: 2.08
Dividend yield: 2.15%
Dividend / share (TTM): ₹3.50
Payout: 55.12%
Cash conversion cycle: -9.9 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	13,070	17,246	14,830	12,577	11,709	14,696	11,995	11,148	10,724	13,578	11,093	11,429
	188.65	170.86	180.41	134.89	98.66	121.63	64.94	114.26	29.94	35.71	26.75	33.99
	12,315	15,493	13,490	11,556	10,921	13,097	10,938	10,314	9,995	12,037	10,155	10,500
	7,604	10,323	8,204	6,813	6,887	7,974	6,934	6,207	6,570	7,956	6,876	7,262
	495.27	452.58	522.91	470.07	449.57	476.33	411.71	428.83	416.71	456.94	371.44	361.95
	1,237	1,277	1,163	1,170	1,123	1,125	1,038	1,042	955.87	949.69	935.49	932.83
	1,341	1,241	1,200	1,152	1,112	1,053	1,011	962.30	903.82	829.23	782.73	715.07
	314.54	314.01	282.22	268.10	273.23	339.80	267.70	244.03	235.12	232.87	240.92	226.61
	1,885	1,929	1,869	1,613	1,616	1,573	1,150	1,134	1,305	1,434	1,243	1,190
	943.58	1,924	1,520	1,156	886.67	1,720	1,122	947.70	759.46	1,576	964.38	962.74
	0.00	-19.28	-325.16	-40.00	0.00	-110.89	2.39	119.02	4.88	-66.24	13.25	-38.39
	943.58	1,905	1,195	1,116	886.67	1,609	1,125	1,067	764.34	1,510	977.63	924.35
	281.95	558.46	337.35	304.31	233.69	374.66	312.56	311.51	214.81	581.99	374.87	358.00
	667.77	1,381	862.24	819.70	657.72	1,246	819.67	766.55	550.65	933.69	608.85	569.31
	1.05	2.20	1.38	1.29	1.04	3.85	2.59	2.40	1.73	2.91	1.91	1.79
Key metrics
	2,599	3,460	2,678	2,536	2,272	3,002	2,404	2,273	1,903	2,572	2,001	1,866
	19.90%	20.10%	18.10%	20.20%	19.40%	20.40%	20.00%	20.40%	17.70%	18.90%	18.00%	16.30%
	5.10%	8.00%	5.80%	6.50%	5.60%	8.50%	6.80%	6.90%	5.10%	6.90%	5.50%	5.00%
	—	4.60%	—	3.80%	—	4.80%	—	—	—	—	—	—
	11.60%	17.40%	23.60%	12.80%	9.20%	8.20%	8.10%	-2.50%	—	—	—	—
	1.50%	10.90%	5.20%	6.90%	19.40%	33.40%	34.60%	34.60%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	57,723	56,362	48,535	45,791	41,673	26,237	19,454	21,951	33,197	29,901	24,068
	674.81	584.82	358.46	140.58	110.77	86.81	131.16	107.83	128.06	199.88	130.69
	52,853	51,459	44,344	41,757	39,573	26,207	19,728	21,270	30,465	27,530	22,396
	32,943	32,227	27,684	28,241	28,272	16,620	11,769	11,164	21,681	17,318	—
	1,941	1,895	1,734	1,557	1,176	945.42	807.62	874.38	837.48	750.50	—
	4,847	4,734	4,161	3,673	3,234	2,620	2,159	2,190	2,640	2,257	—
	4,933	4,705	3,930	2,982	2,094	1,869	1,901	1,802	1,502	1,232	1,049
	1,179	1,138	1,087	927.29	900.22	865.96	835.62	749.99	—	—	572.79
	7,296	7,028	5,487	4,946	4,526	3,239	2,785	3,182	4,048	3,896	2,837
	5,545	5,488	4,549	4,174	2,210	117.04	-142.66	789.55	2,860	2,571	1,803
	-384.44	-384.44	15.40	-84.22	47.89	-324.15	76.08	-53.28	2.75	6.57	24.69
	5,160	5,103	4,565	4,090	2,258	-207.11	-66.58	736.27	2,860	2,578	1,843
	1,482	1,434	1,214	1,410	906.93	85.86	2.52	279.36	677.06	751.12	196.12
	3,731	3,721	3,383	2,696	1,362	-285.45	-69.60	459.80	2,195	1,827	1,633
	5.92	5.91	10.58	8.46	4.23	-1.22	-0.56	1.15	7.08	—	5.52
Key metrics
	11,272	10,945	9,582	7,999	5,252	2,528	2,670	3,288	4,363	3,809	3,465
	19.53%	19.40%	19.70%	17.50%	12.60%	9.60%	13.70%	15.00%	13.10%	12.70%	14.40%
	6.46%	6.60%	7.00%	5.90%	3.30%	-1.10%	-0.40%	2.10%	6.60%	6.10%	6.80%
	—	14.40%	15.40%	—	—	—	—	—	—	—	—
	—	16.10%	6.00%	9.90%	58.80%	34.90%	-11.40%	-33.90%	11.00%	24.20%	—
	—	10.00%	25.50%	98.00%	577.00%	-310.10%	-115.10%	-79.00%	20.20%	11.90%	—
	—	-7,840	-1,520	—	—	—	—	—	—	—	—
	—	-1.32	0.04	—	—	—	—	—	—	—	—
	—	3.45	3.15	—	—	—	—	—	—	—	—
	—	57,655	43,417	—	—	—	—	—	—	—	—
	—	-9.9	-5.1	—	—	—	—	—	—	—	—
Balance sheet
	—	1,01,041	81,715	—	—	—	—	—	—	—	—
	—	43,742	34,217	—	—	—	—	—	—	—	—
	—	6,281	6,545	—	—	—	—	—	—	—	—
	—	3,087	3,347	—	—	—	—	—	—	—	—
	—	4,672	3,986	—	—	—	—	—	—	—	—
	—	1,368	979.61	—	—	—	—	—	—	—	—
	—	7,983	6,289	—	—	—	—	—	—	—	—
	—	9,291	8,019	—	—	—	—	—	—	—	—
	—	33,118	26,547	—	—	—	—	—	—	—	—
	—	63,936	49,962	—	—	—	—	—	—	—	—
	—	17,717	13,394	—	—	—	—	—	—	—	—
	—	46,219	36,568	—	—	—	—	—	—	—	—
	—	18,546	15,845	—	—	—	—	—	—	—	—
Cash flow
	—	-4,895	128.47	—	—	—	—	—	—	—	—
	—	-7,016	-5,758	—	—	—	—	—	—	—	—
	—	11,617	6,958	—	—	—	—	—	—	—	—
	—	2,945	1,648	—	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	9,634	14,160	11,534	9,588	8,725	11,907	9,479	8,769	8,599	11,267	9,273	9,638
	85.10	68.29	59.25	134.78	52.85	105.93	24.71	97.27	22.34	117.90	30.03	47.46
	8,889	12,320	10,220	8,640	7,980	10,342	8,510	7,988	7,919	9,914	8,399	8,797
	6,921	9,536	7,590	6,210	6,387	7,372	6,367	5,774	6,199	7,492	6,555	6,992
	476.94	485.08	443.92	449.26	427.13	463.38	393.39	406.96	416.73	424.52	368.49	355.17
	692.71	721.56	625.16	647.78	612.19	651.49	606.35	598.68	549.75	553.53	569.46	572.83
	41.53	42.06	43.83	41.98	41.86	47.12	50.06	60.68	59.05	59.23	61.63	58.71
	182.92	182.62	177.46	172.30	182.81	178.85	192.33	175.44	172.72	179.69	178.47	180.29
	1,080	1,268	1,048	954.55	979.94	1,061	886.61	911.81	933.27	1,030	891.88	898.87
	830.18	1,909	1,373	1,083	797.73	1,671	993.75	878.45	701.44	1,471	903.86	888.25
	0.00	0.00	-308.48	-40.00	0.00	-13.65	—	117.38	—	-69.66	-0.59	-22.88
	830.18	1,909	1,064	1,043	797.73	1,657	993.75	995.83	701.44	1,401	903.27	865.37
	221.07	504.41	268.48	271.60	204.00	411.40	232.01	225.73	175.86	501.02	323.24	304.36
	609.11	1,405	796.02	771.06	593.73	1,246	761.74	770.10	525.58	900.41	580.03	561.01
	1.04	2.39	1.36	1.31	1.01	4.24	2.59	2.62	1.79	3.07	1.98	1.91
Key metrics
	1,055	2,134	1,286	1,257	1,022	1,883	1,236	1,232	933.21	1,640	1,143	1,104
	10.90%	15.10%	11.10%	13.10%	11.70%	15.80%	13.00%	14.00%	10.90%	14.60%	12.30%	11.50%
	6.30%	9.90%	6.90%	8.00%	6.80%	10.50%	8.00%	8.80%	6.10%	8.00%	6.30%	5.80%
	—	12.80%	—	7.80%	—	12.10%	—	—	—	—	—	—
	10.40%	18.90%	21.70%	9.30%	1.50%	5.70%	2.20%	-9.00%	—	—	—	—
	2.60%	12.80%	4.50%	0.10%	13.00%	38.40%	31.30%	37.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	44,917	44,007	38,753	38,367	36,144	21,688	15,301	17,467	29,055	26,525	21,332
	347.42	315.17	250.25	246.57	116.14	76.13	119.50	123.34	109.94	189.76	136.27
	40,069	39,160	34,758	34,728	34,234	21,748	15,821	17,073	26,611	24,471	19,802
	30,257	29,723	25,712	26,917	27,247	15,913	11,119	10,384	20,872	15,348	—
	1,855	1,805	1,680	1,506	1,161	896.90	746.66	793.22	766.10	1,995	—
	2,687	2,607	2,406	2,233	2,114	1,698	1,584	1,615	2,099	1,812	—
	169.40	169.73	216.91	249.44	289.09	301.11	306.79	109.45	70.38	131.25	155.38
	715.30	715.19	719.34	717.81	731.96	752.76	747.71	669.80	621.01	554.61	517.89
	4,351	4,251	3,793	3,615	3,250	2,235	—	2,310	3,141	3,076	2,328
	5,195	5,162	4,245	3,886	2,026	16.78	-399.86	517.75	2,554	2,243	1,666
	-348.48	-348.48	103.73	-93.72	84.61	510.83	-12.05	-155.83	-57.49	-12.18	-335.45
	4,846	4,814	4,348	3,792	2,110	527.61	-411.91	361.92	2,497	2,231	1,330
	1,266	1,248	1,045	1,174	730.29	14.22	98.23	122.40	513.60	668.13	107.01
	3,581	3,566	3,303	2,618	1,380	541.83	-313.68	239.52	1,983	1,563	1,223
	6.10	6.07	11.25	8.92	4.70	1.85	-1.07	0.82	6.76	5.34	—
Key metrics
	5,731	5,699	5,285	4,759	3,131	1,581	642.59	1,141	3,188	2,917	2,003
	12.76%	13.00%	13.60%	12.40%	8.70%	7.30%	4.20%	6.50%	11.00%	11.00%	9.40%
	7.97%	8.10%	8.50%	6.80%	3.80%	2.50%	-2.10%	1.40%	6.80%	5.90%	5.70%
	—	32.60%	32.40%	—	—	—	—	—	—	—	—
	—	13.60%	1.00%	6.20%	66.70%	41.70%	-12.40%	-39.90%	9.50%	24.30%	—
	—	7.90%	26.20%	89.70%	154.70%	272.70%	-231.00%	-87.90%	26.90%	27.80%	—
	—	3,743	6,865	—	—	—	—	—	—	—	—
	—	1.34	2.37	—	—	—	—	—	—	—	—
	—	0.09	0.13	—	—	—	—	—	—	—	—
	—	-836.05	-1,178	—	—	—	—	—	—	—	—
	—	-15.7	-13.7	—	—	—	—	—	—	—	—
Balance sheet
	—	28,594	25,526	—	—	—	—	—	—	—	—
	—	14,662	12,309	—	—	—	—	—	—	—	—
	—	2,031	2,660	—	—	—	—	—	—	—	—
	—	2,950	2,887	—	—	—	—	—	—	—	—
	—	3,486	2,957	—	—	—	—	—	—	—	—
	—	885.86	621.12	—	—	—	—	—	—	—	—
	—	5,335	4,682	—	—	—	—	—	—	—	—
	—	8,329	7,305	—	—	—	—	—	—	—	—
	—	13,327	11,426	—	—	—	—	—	—	—	—
	—	1,195	1,482	—	—	—	—	—	—	—	—
	—	647.56	547.75	—	—	—	—	—	—	—	—
	—	547.48	933.97	—	—	—	—	—	—	—	—
	—	13,113	11,519	—	—	—	—	—	—	—	—
Cash flow
	—	4,792	7,819	—	—	—	—	—	—	—	—
	—	-3,205	-4,078	—	—	—	—	—	—	—	—
	—	-2,217	-3,024	—	—	—	—	—	—	—	—
	—	1,050	954.29	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +6.78%
Sales CAGR 5Y: +23.53%
Sales CAGR 10Y: —
Profit CAGR 3Y: +37.22%
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +15.53%
Profit YoY (TTM): +6.21%

Consolidated

Sales CAGR 3Y: +10.59%
Sales CAGR 5Y: +23.71%
Sales CAGR 10Y: —
Profit CAGR 3Y: +39.81%
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +16.50%
Profit YoY (TTM): +6.91%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 51.50%

Holder	Type	Holding	Previous	Change
HINDUJA AUTOMOTIVE LIMITED	Promoter	34.99%	—	—
JP MORGAN CHASE BANK, NA	Promoter	11.30%	—	—
HINDUJA BANK (SWITZERLAND) LTD	Promoter	4.97%	—	—
KOTAK MAHINDRA TRUSTEE CO LTD (Under Various sub accounts)	Public	1.65%	—	—
SBI MUTUAL FUND (Under various sub accounts)	Public	1.43%	—	—
GOVERNMENT PENSION FUND GLOBAL	Public	1.31%	—	—
T. ROWE PRICE EMERGING MARKETS DISCOVERY STOCK TRUST	Public	1.29%	—	—
NPS TRUST (Under Various sub accounts)	Public	1.18%	—	—
SBI LIFE INSURANCE CO. LTD	Public	1.15%	—	—
HINDUJA FOUNDRIES HOLDING LIMITED	Promoter	0.24%	—	—
Association of Persons	Public	0.00%	—	—
FOREIGN INSTITUTIONAL INVESTORS	Public	0.00%	—	—
BANK FOREIGN	Public	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

Intimation of schedule of investors meeting16 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation of schedule of investors meeting16 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation of schedule of investors meeting16 Sep 2026 · Company Update / Analyst / Investor Meet
Intimation of schedule of investor meeting7 Sep 2026 · Company Update / Analyst / Investor Meet
Monthly Business updates for the month of August 20261 Sep 2026 · Company Update / Monthly Business Updates
Intimation of schedule of investor meeting31 Aug 2026 · Company Update / Analyst / Investor Meet
Earnings call transcript21 Aug 2026 · Company Update / Earnings Call Transcript
Scrutiniser''s Report17 Aug 2026 · AGM/EGM / AGM
Summary of Proceedings of 77th AGM held on August 14, 202614 Aug 2026 · AGM/EGM / AGM
Updates on Acquisition14 Aug 2026 · Company Update / Acquisition
Updates on rotation of Statutory Auditors14 Aug 2026 · Company Update / General
Unaudited Financial Results for the quarter ended June 30, 202614 Aug 2026 · Result / Financial Results
Intimation for the revised schedule of Earnings Conference Call10 Aug 2026 · Company Update / Analyst / Investor Meet
Allotment of 30000 Non-Convertible Debentures of Rs. 1,00,000/- per NCD10 Aug 2026 · Company Update / Allotment of Equity Shares
Earnings Conference Call6 Aug 2026 · Company Update / Analyst / Investor Meet
Ashok Leyland Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/08/2026 ,inter alia, to consider and approve the unaudited financial results ....3 Aug 2026 · Board Meeting / Board Meeting
Stock exchange intimation of Hinduja Leyland Finance Limited, a material subsidiary of the company3 Aug 2026 · Company Update / General
Monthly sales volume for the month of July 20263 Aug 2026 · Company Update / Monthly Business Updates
Ashok Leyland John Deere Construction Equipment Company Private Limited (ALJD), an Associate Company has been voluntarily liquidated.27 Jul 2026 · Company Update / Restructuring
Newspaper publication on completion of despatch of Annual Report and the notice convening the 77th AGM of the company21 Jul 2026 · Company Update / Newspaper Publication
Notice of the 77th AGM to be held on August 14, 2026 and the Annual Report for the FY 2025-2620 Jul 2026 · AGM/EGM / AGM
Annual Report for the FY 2025-2620 Jul 2026 · Others / Reg. 34 (1) Annual Report
Change in the scheduled time of 77th AGM of the Company16 Jul 2026 · Company Update / General
Intimation under Regulation 30 of SEBI Listing Regulations13 Jul 2026 · Company Update / General
Compliance certificate under Reg 74(5) of SEBI (DP) Regulations for the quarter ended June 30, 20268 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper publication relating to 77th Annual General Meeting3 Jul 2026 · Company Update / Newspaper Publication
Monthly Business Update for the month of June, 20261 Jul 2026 · Company Update / Monthly Business Updates
The trading window will be closed for all Designated persons and their immediate relatives with effect from July 01, 2026 till 48 hours after the unaudited financial results for the quarter ....26 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Schedule of several funds / investors meeting6 Jun 2026 · Company Update / Analyst / Investor Meet
Newspaper publication of notice for transfer of Equity Shares of the Company to Investor Education and Protection Fund Authority.5 Jun 2026 · Company Update / Newspaper Publication
Earnings call transcript4 Jun 2026 · Company Update / Earnings Call Transcript
Credit Rating - ICRA Limited2 Jun 2026 · Company Update / Credit Rating
Monthly Business Update - May 20261 Jun 2026 · Company Update / Monthly Business Updates
Appointment of Mr. K M Balaji (DIN 08064743) as a Whole - Time Director28 May 2026 · Company Update / Change in Management
Incorporation of a Wholly-owned subsidiary in Indonesia28 May 2026 · Company Update / General
Re-appointment of Mr. Dheeraj G Hinduja (DIN: 00133410) as Executive Chairman28 May 2026 · Company Update / Change in Management
Record date for second interim dividend - June 3, 202628 May 2026 · Corp. Action / Record Date
77th AGM is scheduled to be held on August 14, 202628 May 2026 · AGM/EGM / AGM
Board approves second interim dividend - Record date June 03, 202628 May 2026 · Corp. Action / Dividend
Issue of NCD''s28 May 2026 · Company Update / Issue of Securities

Corporate actions

Purpose	Ex date	Record date	Payment date
Interim Dividend - Rs. - 2.5000	3 Jun 2026	3 Jun 2026	—
Interim Dividend - Rs. - 1.0000	18 Nov 2025	18 Nov 2025	—
Bonus issue 1:1	16 Jul 2025	16 Jul 2025	—
Interim Dividend - Rs. - 4.2500	22 May 2025	22 May 2025	—
Interim Dividend - Rs. - 2.0000	19 Nov 2024	19 Nov 2024	—

Board meetings

14 Aug 2026 Board Meeting - Financial Results