Ashok Leyland share price
NSE: ASHOKLEYBSE: 500477Agricultural, Commercial & Construction VehiclesMid Cap
Share price at the NSE close on 27 Oct 2026. Previous close ₹141.90.
27 Oct: open ₹142.89, high ₹145.27, low ₹141.71
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹83,409 Cr107th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 24.00
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹384 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 21.61
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 5.86
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 2.46%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 26.3%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹384 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 29.2%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 11.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 3.45
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,03,13,14555.7% delivered
About Ashok Leyland
Ashok Leyland Limited, based in Chennai, makes trucks, buses and light commercial vehicles, as well as engines for industrial and marine use, forgings and castings.12 It sells to fleet operators, small fleet and single-truck owners, and government bodies such as state transport departments, in India and abroad.34
Besides its main vehicle lines, it earns from spare parts and power solutions (engines), and supplies tactical and logistics vehicles to the Indian Armed Forces.567 Through subsidiaries, the group also provides vehicle and housing finance and IT services.2 Its subsidiary Switch Mobility India sells electric buses and light commercial vehicles, and OHM Mobility runs electric buses as a service in Indian cities.8 Optare Plc, a UK subsidiary, makes and sells buses and commercial vehicles.9
It sells in 28 states and 7 union territories of India and in 50 countries.4 It was incorporated in 1948, and Hinduja Foundries Limited has since been merged into it.1011 It is part of the Hinduja Group: its promoter is Hinduja Automotive Limited, and Dheeraj G Hinduja is its executive chairman.4910
Ashok Leyland key points
Results
- On its earnings call of 14 Aug 2026, the company said, without stating whether for the company alone or the group, that revenue in the quarter to Jun 2026 was a first-quarter record ₹9,634 crore, up 10%, and profit after tax ₹609 crore, up 3%.12
- In that quarter, Ashok Leyland's EBITDA (earnings before interest, tax, depreciation and amortisation) was flat at ₹970 crore, a 10.1% margin, down 100 basis points (hundredths of a percentage point) from a year earlier, with material costs at 71.5% of revenue.13
- For the company alone (standalone), revenue in the year to Mar 2026 was ₹44,007 crore, up 14%, and profit after tax ₹3,566 crore, up 8%. EBITDA was ₹5,732 crore, a 13.0% margin.14
- Ashok Leyland's commercial vehicle sales reached 220,437 units in the year to Mar 2026, the highest in the company's history, and 48,673 units in the quarter to Jun 2026, a first-quarter peak.1516
Market position
- In the quarter to Jun 2026, Ashok Leyland held 29% of domestic medium and heavy commercial vehicle (MHCV) sales. Its share of light commercial vehicle (LCV) registrations on VAHAN, the government registry, was 13.2%, up 30 basis points from a year earlier.1718
- In the year to Mar 2026, Ashok Leyland's share of the medium and heavy bus market, which the company measures excluding electric and defence buses, was 34.1%, and of the medium and heavy truck market 30.0%.19
Business segments
- Assets under management (loans managed) of the lending subsidiaries, end of Jun 202620
Item quarter to Jun 2026 Hinduja Leyland Finance (vehicle loans) ₹60,310 crore, up 20% Hinduja Housing Finance ₹16,157 crore, up 13% - On its earnings call of 14 Aug 2026, the company said electric bus subsidiary Switch Mobility India had an order book (orders not yet delivered) of 2,100 electric buses; OHM Mobility ran over 1,900 electric buses at the end of Jun 2026.21
Revenue mix
- Share of standalone turnover by product2223
Item year to Mar 2026 Medium and heavy trucks 58.55% Medium and heavy buses 15.72% Light commercial vehicles 11.05% Spare parts and others 14.67% - Spare parts revenue was ₹4,450 crore in the year to Mar 2026, up 12%.24
- In the quarter to Jun 2026, domestic aftermarket (spare parts and service) revenue rose 12.7%, Power Solutions (engines) revenue 51% and defence revenue 64% from a year earlier.25
Where revenue comes from
- Ashok Leyland's exports were 7.03% of standalone turnover in the year to Mar 2026.23
- Ashok Leyland's export sales rose to 18,082 units in the year to Mar 2026 from 15,255, with growth in South Asia, the Middle East and Africa.26
- In the quarter to Jun 2026, Ashok Leyland's exports fell 18% to 2,461 units as war posed logistical challenges at its Ras Al Khaimah plant in the UAE, cutting Gulf volumes; South Asian and African volumes grew.27
Plants and capacity
- Ashok Leyland has 10 plants in India, with sites including Ennore, Hosur and Sriperumbudur in Tamil Nadu, Bhandara, Alwar, Pantnagar, Vijayawada and Lucknow, where a greenfield integrated bus plant began operating in the year to Mar 2026.282930
- Its Ras Al Khaimah plant in the UAE assembles all its products for Gulf markets. On its call of 14 Aug 2026, the company said the plant made 600 units the previous month, its capacity, having run at 800 on temporary arrangements.31
- In the quarter to Mar 2026 Ashok Leyland broke ground on a new battery pack plant at Pillaipakkam near Chennai.32
What the company expects
- The company stated in its annual report for the year to Mar 2026 that it aims to reach 25,000 export units, and that it has a medium-term goal of about 35% of the medium and heavy commercial vehicle market.3334
- On its earnings call of 14 Aug 2026, the company said it is trying to speed up its planned Saudi Arabia plant, which it had originally planned to have running in about 18 to 24 months.35
- On its earnings call of 14 Aug 2026, the company said it expects industry momentum to continue until about October and, even on a cautious view after that, sees potential for MHCV industry sales to grow by a high single digit, LCVs slightly more.36
Recent events
- On 14 Aug 2026 the board approved, subject to required approvals, investing up to GBP 25 million (about ₹325 crore) in UK subsidiary Optare Plc and buying up to ₹500 crore of Hinduja Housing Finance shares from Hinduja Leyland Finance.37
- On 25 Nov 2025 the boards of Hinduja Leyland Finance and NDL Ventures Limited approved merging the lender into NDL at 25 NDL shares for every 10 of its shares. By 14 Aug 2026 shareholders and unsecured creditors had approved; the tribunal (NCLT) was next.3839
Last updated
All 39 sources, each with its page
- 1. Annual report, 20 Jul 2026, page 74
- 2. Annual report, 20 Jul 2026, page 231
- 3. Annual report, 20 Jul 2026, page 74
- 4. Annual report, 20 Jul 2026, page 74
- 5. Annual report, 20 Jul 2026, page 24
- 6. Annual report, 20 Jul 2026, page 6
- 7. Annual report, 20 Jul 2026, page 60
- 8. Annual report, 20 Jul 2026, page 7
- 9. Exchange filing, 20 Mar 2026, page 2
- 10. Annual report, 20 Jul 2026, page 10
- 11. Annual report, 20 Jul 2026, page 250
- 12. Earnings call, 14 Aug 2026, page 4
- 13. Earnings call, 14 Aug 2026, page 4
- 14. Annual report, 20 Jul 2026, page 6
- 15. Annual report, 20 Jul 2026, page 6
- 16. Earnings call, 14 Aug 2026, page 4
- 17. Earnings call, 14 Aug 2026, page 3
- 18. Earnings call, 14 Aug 2026, page 4
- 19. Annual report, 20 Jul 2026, page 63
- 20. Earnings call, 14 Aug 2026, page 5
- 21. Earnings call, 14 Aug 2026, page 5
- 22. Annual report, 20 Jul 2026, page 74
- 23. Annual report, 20 Jul 2026, page 74
- 24. Annual report, 20 Jul 2026, page 60
- 25. Earnings call, 14 Aug 2026, page 4
- 26. Annual report, 20 Jul 2026, page 63
- 27. Earnings call, 14 Aug 2026, page 4
- 28. Annual report, 20 Jul 2026, page 74
- 29. Annual report, 20 Jul 2026, page 10
- 30. Annual report, 20 Jul 2026, page 64
- 31. Earnings call, 14 Aug 2026, page 13
- 32. Annual report, 20 Jul 2026, page 7
- 33. Annual report, 20 Jul 2026, page 8
- 34. Annual report, 20 Jul 2026, page 66
- 35. Earnings call, 14 Aug 2026, page 13
- 36. Earnings call, 14 Aug 2026, page 11
- 37. Exchange filing, 14 Aug 2026, page 1
- 38. Annual report, 20 Jul 2026, page 27
- 39. Earnings call, 14 Aug 2026, page 5
Results
Consolidated; ₹ crore.Ashok Leyland quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +16.5%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +8.3%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹13,070 Crdown 24.22%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹668 Crdown 51.66%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 5.1%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11,148 | 11,995 | 14,696 | 11,709 | 12,577 | 14,830 | 17,246 | 13,070 |
| Net profit | 767 | 820 | 1,246 | 658 | 820 | 862 | 1,381 | 668 |
| Net margin | 6.9% | 6.8% | 8.5% | 5.6% | 6.5% | 5.8% | 8.0% | 5.1% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹56,362 Crup 16.13%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹3,721 Crup 10.00%
- Net margin
- 6.6%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 24,068 | 29,901what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹282 crore, a tax on the goods the company makes that it collects and pays to the government. | 33,197 | 21,951 | 19,454 | 26,237 | 41,673 | 45,791 | 48,535 | 56,362 |
| Net profit | 1,633 | 1,814 | 2,195 | 460 | −70 | −285 | 1,362 | 2,696 | 3,383 | 3,721 |
| Net margin | 6.8% | 6.1% | 6.6% | 2.1% | −0.4% | −1.1% | 3.3% | 5.9% | 7.0% | 6.6% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Commercial vehicleCommercial vehicle, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹48,314 Crup 14.13%85.7%
- Financial serviceFinancial service, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹8,049 Crup 29.77%14.3%
Valuation
Today, against the company's own history.Ashok Leyland PE ratio and valuation
At or below today's level on 6% of 981 trading days over the last 5 years.
At or below today's level on 58% of 1,971 trading days since Nov 2018.
At or below today's level on 76% of 2,468 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +53.2% | +11.7% | +35.1% | 2.3% |
| 3 years | +33.1% | +40.9% | −7.5% | 2.7% |
| 5 years | +24.3% | – | – | 2.2% |
Mutual fund holdings
255 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 129 of the 163 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 255 funds holding Ashok Leyland
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 2
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 5
- AddedAdded. Funds that held more shares than at the end of the month before.
- 82
- CutCut. Funds that held fewer shares than at the end of the month before.
- 81
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 84
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 9
| Fund | |||
|---|---|---|---|
| 5,60,00,000 | 2.13% | ₹863.5 Cr | |
| 4,20,00,000 | 2.12% | ₹647.6 Cr | |
| 3,92,29,127 | 3.52% | ₹604.9 Cr | |
| 3,70,00,000 | 1.14% | ₹570.5 Cr | |
| 2,97,41,264 | 0.42% | ₹458.6 Cr | |
| 2,00,00,000 | 2.29% | ₹308.4 Cr | |
| 1,84,70,771 | 1.48% | ₹284.8 Cr | |
| 1,71,30,000 | 0.35% | ₹264.1 Cr | |
| 1,63,32,916 | 1.38% | ₹251.8 Cr | |
| 1,61,38,853 | 1.48% | ₹248.8 Cr |
Promoter and insider buying and selling
Trades made since 28 Oct 2025.Ashok Leyland insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade · 2 pledge filings of unclear kind
- Others: no market trade
Ashok Leyland competitors and peers
Agricultural, Commercial & Construction Vehicles, 16 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Ashok Leyland in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1,47,017 | 23.28 | 9.62 | – | – | 49.4% | 47.5% | 1.00% | |
| 29,698 | 21.47 | 2.40 | +18.0% | −41.4% | 12.2% | 10.2% | 1.92% | |
| 16,646 | 93.42 | 5.67 | +12.8% | −40.4% | 6.1% | 8.1% | 0.85% | |
| 12,343 | 28.25 | 6.14 | +5.2% | +3.3% | 24.1% | 24.5% | 0.19% | |
| 6,917 | 47.03 | 12.35 | +22.4% | +3.9% | 29.3% | 35.0% | 0.49% | |
| 6,242 | 27.39 | 4.48 | – | – | 17.9% | 18.2% | 0.00% | |
| 3,347 | 30.73 | 3.06 | +17.0% | −5.0% | 10.4% | 13.2% | 0.65% | |
| 1,665 | – | – | +21.3% | – | −31.8% | 2.1% | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Ashok Leyland dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 3 Jun 2026 | Interim | ₹2.50 |
| 18 Nov 2025 | Interim | ₹1.00 |
| 22 May 2025 | Interim | ₹4.25 |
| 19 Nov 2024 | Interim | ₹2.00 |
| 3 Apr 2024 | Interim | ₹4.95 |
| 7 Jul 2023 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹2.60 |
Latest announcements
Routine notices left out.Ashok Leyland announcements
Oct 2026
26 Oct · Management
22 Oct · Management
9 Oct · Rating
1 Oct · Monthly Business Updates
Sep 2026
22 Sep · Rating
16 Sep · Analysts
Ashok Leyland share price by year
Each calendar year to 2025.Ashok Leyland share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 179.19 | +62.5% | 179.19 | 98.06 |
| 2024 | 110.25 | +21.5% | 131.08 | 79.90 |
| 2023 | 90.78 | +26.6% | 94.45 | 67.30 |
| 2022 | 71.70 | +17.1% | 83.28 | 49.58 |
| 2021 | 61.23 | +28.3% | 76.05 | 49.55 |
| 2020 | 47.73 | +17.1% | 50.03 | 17.23 |
| 2019 | 40.75 | −20.5% | 51.25 | 28.95 |
| 2018 | 51.25 | −13.9% | 82.78 | 50.23 |
| 2017 | 59.55 | +48.7% | 65.60 | 40.50 |
| 2016 | 40.05 | −8.9% | 55.68 | 37.35 |
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 144.70 | 144.90 | 140.01 | 141.90 | 141.96 | 1,94,48,376 | 51.1% |
| 23 Oct 2026 | 146.03 | 146.23 | 142.02 | 144.95 | 143.94 | 1,72,34,074 | 50.8% |
| 22 Oct 2026 | 144.95 | 147.29 | 143.04 | 146.03 | 145.70 | 96,16,781 | 41.9% |
| 21 Oct 2026 | 147.72 | 148.30 | 144.03 | 146.74 | 145.62 | 80,18,067 | 48.1% |
| 19 Oct 2026 | 148.32 | 149.40 | 147.21 | 147.72 | 148.35 | 85,02,677 | 44.7% |
| 16 Oct 2026 | 149.10 | 150.00 | 148.01 | 148.91 | 149.24 | 1,10,21,561 | 47.9% |
| 15 Oct 2026 | 145.45 | 150.50 | 144.66 | 148.18 | 148.43 | 2,11,16,770 | 44.5% |
| 14 Oct 2026 | 146.68 | 146.88 | 144.20 | 145.00 | 145.01 | 1,71,55,545 | 48.0% |
| 13 Oct 2026 | 144.99 | 147.37 | 143.50 | 147.37 | 145.76 | 1,06,46,596 | 48.6% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus share history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 16 Jul 2025 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 19 Mar 2020 | Price move | – | A corporate action went ex within three days of this move (Interim Dividend -Rs 0.50 Per Share, ex-date 19 Mar 2020), and its terms do not account for the move. Not adjusted for. |
| 2 Aug 2011 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 21 Jan 2008 | Price move | – | Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for. |
Company details
- NSE symbol
- ASHOKLEY
- BSE code
- 500477
- ISIN
- INE208A01029
- Industry
- Agricultural, Commercial & Construction Vehicles
- Website
- www.ashokleyland.com
- CIN
- L34101TN1948PLC000105
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1948
- Registered office
- 1, Sardar Patel Road, Guindy, Chennai 600032, Tamil Nadu
- Share registrar
- Integrated Registry Management Services Pvt. Ltd (Integrated Enterprises (India) Ltd)
- Keeps the register of shareholders and handles transfers and dividend payments