| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 13,070 | 11,709 | +11.6% |
| EBITDA | 2,410 | 2,173 | +10.9% |
| EBITDA margin | 18.4% | 18.6% | −0.1 pts |
| Profit before tax | 944 | 887 | +6.4% |
| Net profit | 668 | 658 | +1.5% |
| EPS | ₹1.05 | ₹1.04 | +1.0% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 85,083 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 12,603 | 12,603 | 11,212 | 6,241 | 5,420 | ||
| 4,305 | 4,305 | 3,613 | 2,810 | 2,245 | ||
| 63,936 | 63,936 | 49,962 | 40,802 | 31,161 | ||
| 1,40,721 | — | — | — | — | ||
| 57,723 | 56,362 | 48,535 | 45,791 | 41,673 | ||
| — | +16.1% | +6.0% | +9.9% | — | ||
| 10,982 | 10,745 | 9,208 | 7,943 | 5,093 | ||
| 19.0% | 19.1% | 19.0% | 17.4% | 12.2% | ||
| 9,803 | 9,607 | 8,121 | 7,016 | 4,193 | ||
| 3,731 | 3,721 | 3,383 | 2,696 | 1,362 | ||
| 6.5% | 6.6% | 7.0% | 5.9% | 3.3% | ||
| ₹5.92 | ₹5.91 | ₹5.29 | ₹4.23 | ₹2.11 | ||
| — | +11.7% | +25.1% | +100.2% | — | ||
| — | −4,895 | 128 | −6,258 | −4,499 | ||
| — | −2,945 | −1,648 | −1,134 | −929 | ||
| −7,840 | −7,840 | −1,520 | −7,392 | −5,428 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 85,083.4 | |
| - Cash, Equiv & ST Investments | 5,419.9 | 6,240.5 | 11,211.7 | 12,602.9 | 12,602.9 | |
| + Minority Interest | 2,244.8 | 2,810.0 | 3,612.8 | 4,304.6 | 4,304.6 | |
| + Total Debt | 31,160.9 | 40,802.2 | 49,962.1 | 63,935.7 | 63,935.7 | |
| Enterprise Value | — | — | — | — | 1,40,720.8 | |
| Revenue | 41,672.6 | 45,790.6 | 48,535.1 | 56,362.1 | 57,723.1 | |
| Growth %, YoY | — | +9.9 | +6.0 | +16.1 | — | |
| EBITDA | 5,092.9 | 7,942.9 | 9,207.8 | 10,745.0 | 10,981.9 | |
| Margin % | 12.22 | 17.35 | 18.97 | 19.06 | 19.03 | |
| EBIT | 4,192.7 | 7,015.6 | 8,121.1 | 9,607.4 | 9,803.1 | |
| Net Income | 1,361.7 | 2,696.3 | 3,382.8 | 3,721.0 | 3,731.0 | |
| Margin % | 3.27 | 5.89 | 6.97 | 6.60 | 6.46 | |
| EPS, Adj (current shares) | 2.11 | 4.23 | 5.29 | 5.91 | 5.92 | |
| Growth %, YoY | — | +100.2 | +25.1 | +11.7 | — | |
| Cash from Operations | -4,499.3 | -6,258.0 | 128.5 | -4,894.7 | — | |
| Capital Expenditures | -929.1 | -1,133.5 | -1,648.1 | -2,945.5 | — | |
| Free Cash Flow | -5,428.4 | -7,391.5 | -1,519.6 | -7,840.2 | -7,840.2 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Ashok Leyland (NSE: ASHOKLEY) had a market capitalisation of ₹85,172 crore at the 29 October 2026 close (₹145.00 a share), a PE ratio of 24.5 on the last four quarters' profit and a price-to-book ratio of 5.98. In FY26 its consolidated net profit attributable to shareholders was ₹3,471 crore on revenue of ₹56,362 crore; in Q1 FY27 (April–June 2026) it was ₹616 crore, up 0.8% year on year. Its debt-to-equity ratio was 3.45 on 31 March 2026. Promoters held 51.51% of the shares on 30 September 2026.
Ashok Leyland's PE ratio is 24.5 at the 29 October 2026 close (₹145.00 a share): a market capitalisation of ₹85,172 crore divided by consolidated net profit attributable to shareholders of ₹3,476 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit attributable to shareholders (₹3,471 crore) it is 24.5.
Ashok Leyland's price-to-book (PB) ratio is 5.98 at the 29 October 2026 close: a market capitalisation of ₹85,172 crore divided by shareholders' equity (book value) of ₹14,242 crore on 31 March 2026. That is a book value of ₹24.25 per share against a share price of ₹145.00.
Ashok Leyland's debt-to-equity ratio was 3.45 on 31 March 2026: borrowings of ₹63,936 crore against total equity of ₹18,546 crore. A year earlier, on 31 March 2025, it was 3.15.
Ashok Leyland's market capitalisation was ₹85,172 crore at the 29 October 2026 close: 587.39 crore shares at ₹145.00 each.
No. Ashok Leyland had borrowings of ₹63,936 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 3.45. Its cash and current investments were ₹17,079 crore, so its net debt was ₹46,856 crore.
In 2026, Ashok Leyland has declared one dividend: ₹2.50 (interim) with record date 3 June 2026.
Ashok Leyland's net worth — shareholders' equity in its consolidated balance sheet — was ₹14,242 crore on 31 March 2026, up 16.4% from ₹12,232 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹85,172 crore at the 29 October 2026 close.
Ashok Leyland's book value per share was ₹24.25 on 31 March 2026: shareholders' equity of ₹14,242 crore divided by the 587.39 crore shares in issue. The share price at the 29 October 2026 close was ₹145.00.
In FY26, Ashok Leyland generated ₹4,895 crore of cash from operations and spent ₹2,945 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹7,840 crore. In FY25 it was −₹1,520 crore.
In FY26, Ashok Leyland's return on equity (ROE) was 26.2% and its return on capital employed (ROCE) was 15.6%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 29.3% and ROCE 16.9%.
On 30 September 2026, Ashok Leyland's shares were held by promoters 51.51%, foreign portfolio investors (FII/FPI) 19.90%, domestic institutions (DII) 16.64% (including mutual funds at 9.94%) and retail and other non-institutional investors 11.89%. Over the year, FII holding was down 4.42 percentage points from 24.32% and DII holding was up 3.05 percentage points from 13.59%.
At the 29 October 2026 closing prices, on FY26 net profit attributable to shareholders, Ashok Leyland's PE ratio is 24.5, the third highest of the four: Eicher Motors 36.0, Suzlon Energy 16.0 and BHEL 87.5, a peer average of 46.5. Each is the company's market capitalisation at that price divided by its FY26 net profit.
Ashok Leyland's basic earnings per share (EPS) were ₹5.91 in FY26.
Promoters held 51.51% of Ashok Leyland on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
Ashok Leyland has not yet announced the date of its Q2 FY27 results (July–September 2026); under SEBI's listing rules (Regulation 33) they are due by 14 November 2026.
Ashok Leyland's latest results are for Q1 FY27 (April–June 2026), filed on 14 August 2026: consolidated net profit attributable to shareholders ₹616 crore, up 0.8% from ₹611 crore in Q1 FY26; revenue from operations ₹13,070 crore, up 11.6% year on year.
In FY26 (April 2025–March 2026), Ashok Leyland's consolidated net profit attributable to shareholders was ₹3,471 crore, up 11.7% from ₹3,107 crore in FY25, on revenue from operations of ₹56,362 crore (up 16.1%). Over three years, from FY23, net profit was up 179.7%.
On FY26 consolidated figures, against Eicher Motors, Suzlon Energy and BHEL: Ashok Leyland's operating margin of 17.1% is the second highest of the four (Eicher Motors 21.1%, Suzlon Energy 16.2%, BHEL 6.0%; peer average 14.4%); its return on equity of 26.2% is the second highest of the four (Eicher Motors 23.8%, Suzlon Energy 40.6%, BHEL 6.3%; peer average 23.6%); its revenue growth over three years of 10.6% a year is the lowest of the four (Eicher Motors 17.5% a year, Suzlon Energy 41.0% a year, BHEL 13.1% a year; peer average 23.8% a year).
In FY26, Ashok Leyland earned net profit attributable to shareholders of ₹3,471 crore on revenue of ₹56,362 crore, against ₹5,515 crore on ₹23,408 crore for Eicher Motors. Ashok Leyland's operating margin was 17.1% (Eicher Motors 21.1%) and its return on equity 26.2% (Eicher Motors 23.8%). At the 29 October 2026 close, Ashok Leyland's market capitalisation was ₹85,172 crore against ₹1,98,683 crore for Eicher Motors, and its PE ratio on FY26 profit 24.5 against 36.0.
From Ashok Leyland's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.