Ashok Leyland logo

Ashok Leyland share price

NSE: ASHOKLEYBSE: 500477Agricultural, Commercial & Construction VehiclesMid Cap

Ashok Leyland Limited · Face value ₹1 · Listed Mar 1976 on BSE, May 1995 on NSE
Last close ₹142.00up ₹0.10 (0.07%)BSE ₹142.00

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

52-week range of traded prices to 27 Oct 2026
₹136.50Low, 27 Oct 2025₹215.42High, 11 Feb 2026
Market cap
₹83,409 Cr107th largest listed
P/E
24.00
P/E without one-offs
21.61
P/B
5.86
Dividend yield
2.46%
ROE
26.3%
ROE without one-offs
29.2%
ROCE
11.9%
Debt to equity
3.45
Volume, NSE
2,03,13,14555.7% delivered

Ashok Leyland share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+0.8%over a year · Nifty 500 −8.8%

Results20-session average 1,39,66,952 shares a day, 48.2% 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
    Itemquarter 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
    Itemyear to Mar 2026
    Medium and heavy trucks58.55%
    Medium and heavy buses15.72%
    Light commercial vehicles11.05%
    Spare parts and others14.67%
  • 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

Results

Consolidated; ₹ crore.Ashok Leyland quarterly results

Revenue growth, 12 months
+16.5%
Net profit growth, 12 months
+8.3%

Quarter to Jun 2026, against the quarter before

Revenue
₹13,070 Crdown 24.22%
Net profit
₹668 Crdown 51.66%
Net margin
5.1%

Revenue by quarter

₹11,148 CrSep 24₹11,995 CrDec 24₹14,696 CrMar 25₹11,709 CrJun 25₹12,577 CrSep 25₹14,830 CrDec 25₹17,246 CrMar 26₹13,070 CrJun 26
Peak revenue ₹17,246 Cr, quarter to Mar 2026; lowest ₹11,148 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹767 CrSep 24₹820 CrDec 24₹1,246 CrMar 25₹658 CrJun 25₹820 CrSep 25₹862 CrDec 25₹1,381 CrMar 26₹668 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue11,14811,99514,69611,70912,57714,83017,24613,070
Net profit7678201,2466588208621,381668
Net margin6.9%6.8%8.5%5.6%6.5%5.8%8.0%5.1%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Commercial vehicle₹48,314 Crup 14.13%85.7%
  • Financial service₹8,049 Crup 29.77%14.3%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.Ashok Leyland PE ratio and valuation

Price to earnings

At or below today's level on 6% of 981 trading days over the last 5 years.

LowestHighest
Its median26.05Industry median24.83
Price to book

At or below today's level on 58% of 1,971 trading days since Nov 2018.

LowestHighest
Its median5.68Industry median3.77
Dividend yield

At or below today's level on 76% of 2,468 trading days over the last 10 years.

LowestHighest
Its median1.46%Industry median0.74%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend 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%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 1 and 3 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2026.

Shareholding

Per cent of all the company's shares, counting those held against depositary receipts traded abroad, from the filing for Sep 2026.Ashok Leyland shareholding pattern

Shareholding by group

  • Promoters51.10%
  • Foreign institutions19.73%
  • Indian institutions16.50%
  • Governments0.07%
  • Individuals and others11.79%
  • Depositary receipts0.81%
Holder
HINDUJA AUTOMOTIVE LIMITEDPromoter34.71%
JP MORGAN CHASE BANK, NAPromoter11.21%
HINDUJA BANK (SWITZERLAND) LTDPromoter4.93%
NPS TRUST (Under different sub accounts)Provident and pension funds1.43%
GOVERNMENT PENSION FUND GLOBALForeign portfolio investors, category I1.31%
SBI LIFE INSURANCE CO. LTDInsurance companies1.30%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 40.10% of their shares. Since Jun 2026: promoters unchanged, foreign institutions −0.78 pts, Indian institutions +0.87 pts, mutual funds +0.20 pts.

The filing reports 1,000 of its 5,87,38,54,552 shares locked in.

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 time
2
Bought again
5
Added
82
Cut
81
Held unchanged
84
Sold out
9
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

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
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

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

Return on equity across, P/E up, size is market cap
Company
Tata Motors logoTata MotorsTMCV1,47,01723.289.62––49.4%47.5%1.00%
Escorts Kubota logoEscorts KubotaESCORTS29,69821.472.40+18.0%−41.4%12.2%10.2%1.92%
BEML logoBEMLBEML16,64693.425.67+12.8%−40.4%6.1%8.1%0.85%
Action Construction Equipment logoAction Construction EquipmentACE12,34328.256.14+5.2%+3.3%24.1%24.5%0.19%
SML Mahindra logoSML MahindraSMLMAH6,91747.0312.35+22.4%+3.9%29.3%35.0%0.49%
Ajax Engineering logoAjax EngineeringAJAXENGG6,24227.394.48––17.9%18.2%0.00%
V.S.T Tillers Tractors logoV.S.T Tillers TractorsVSTTILLERS3,34730.733.06+17.0%−5.0%10.4%13.2%0.65%
TIL logoTILTIL1,665––+21.3%–−31.8%2.1%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

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

0.8Mar 171.2Mar 181.6Mar 190.3Mar 200.3Mar 210.5Mar 221.3Mar 232.5Mar 243.1Mar 253.5Mar 26
Highest ₹3.50 a share, year to Mar 2026.
Ex-dateTypePer share
3 Jun 2026Interim₹2.50
18 Nov 2025Interim₹1.00
22 May 2025Interim₹4.25
19 Nov 2024Interim₹2.00
3 Apr 2024Interim₹4.95
7 Jul 2023Final₹2.60
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Ashok Leyland announcements

  1. Oct 2026

  2. Sep 2026

Ashok Leyland annual report, year to Mar 2026

Ashok Leyland share price by year

Each calendar year to 2025.Ashok Leyland share price history

YearClose at year endChangeHighest closeLowest close
2025179.19+62.5%179.1998.06
2024110.25+21.5%131.0879.90
202390.78+26.6%94.4567.30
202271.70+17.1%83.2849.58
202161.23+28.3%76.0549.55
202047.73+17.1%50.0317.23
201940.75−20.5%51.2528.95
201851.25−13.9%82.7850.23
201759.55+48.7%65.6040.50
201640.05−8.9%55.6837.35
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 2026144.70144.90140.01141.90141.961,94,48,37651.1%
23 Oct 2026146.03146.23142.02144.95143.941,72,34,07450.8%
22 Oct 2026144.95147.29143.04146.03145.7096,16,78141.9%
21 Oct 2026147.72148.30144.03146.74145.6280,18,06748.1%
19 Oct 2026148.32149.40147.21147.72148.3585,02,67744.7%
16 Oct 2026149.10150.00148.01148.91149.241,10,21,56147.9%
15 Oct 2026145.45150.50144.66148.18148.432,11,16,77044.5%
14 Oct 2026146.68146.88144.20145.00145.011,71,55,54548.0%
13 Oct 2026144.99147.37143.50147.37145.761,06,46,59648.6%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus share history

Ex-dateEventPrice factorWhat happened
16 Jul 2025Bonus0.5000Holders received 1 bonus share for every 1 held.
19 Mar 2020Price 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 2011Bonus0.5000Holders received 1 bonus share for every 1 held.
21 Jan 2008Price 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.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chairperson
DHEERAJ GOPICHAND HINDUJA
At the end of the quarter to Jun 2026
Managing director and CEO
SHENU AGARWAL
At the end of the quarter to Jun 2026
NSE symbol
ASHOKLEY
BSE code
500477
ISIN
INE208A01029
Industry
Agricultural, Commercial & Construction Vehicles
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