Ashok Leyland Limited

NSEI:ASHOKLEY Stock Report

Market Cap: ₹958.0b

Ashok Leyland Valuation

Is ASHOKLEY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of ASHOKLEY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: ASHOKLEY (₹163.09) is trading above our estimate of future cash flow value (₹70.94)

Significantly Below Future Cash Flow Value: ASHOKLEY is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ASHOKLEY?

Key metric: As ASHOKLEY is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ASHOKLEY. This is calculated by dividing ASHOKLEY's market cap by their current earnings.
What is ASHOKLEY's PE Ratio?
PE Ratio28.9x
Earnings₹33.10b
Market Cap₹957.97b

Price to Earnings Ratio vs Peers

How does ASHOKLEY's PE Ratio compare to its peers?

The above table shows the PE ratio for ASHOKLEY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.4x
500480 Cummins India
57.3x13.65%₹1.3t
COCHINSHIP Cochin Shipyard
45.5x19.50%₹330.6b
500033 Force Motors
19.7xn/a₹269.0b
HAPPYFORGE Happy Forgings
38.9x18.33%₹111.2b
ASHOKLEY Ashok Leyland
28.9x16.90%₹958.0b

Price-To-Earnings vs Peers: ASHOKLEY is good value based on its Price-To-Earnings Ratio (28.9x) compared to the peer average (40.4x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does ASHOKLEY's PE Ratio compare vs other companies in the IN Machinery Industry?

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
505216 Alfred Herbert (India)
0.4xn/aUS$20.56m
531306 DHP India
1.9xn/aUS$14.59m
539219 Mauria Udyog
3.9xn/aUS$10.83m
540079 Sprayking
3.5xn/aUS$2.39m
ASHOKLEY 28.9xIndustry Avg. 22.5xNo. of Companies29PE01632486480+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ASHOKLEY is expensive based on its Price-To-Earnings Ratio (28.9x) compared to the Indian Machinery industry average (22.5x).

Price to Earnings Ratio vs Fair Ratio

What is ASHOKLEY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ASHOKLEY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio28.9x
Fair PE Ratio42.5x

Price-To-Earnings vs Fair Ratio: ASHOKLEY is good value based on its Price-To-Earnings Ratio (28.9x) compared to the estimated Fair Price-To-Earnings Ratio (42.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ASHOKLEY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹163.09
₹206.32
+26.51%
13.14%₹250.00₹150.00n/a34
Mar ’27₹211.10
₹203.54
-3.58%
15.11%₹250.00₹132.50n/a36
Feb ’27₹189.06
₹180.07
-4.75%
14.52%₹225.00₹125.00n/a35
Jan ’27₹184.88
₹159.14
-13.92%
10.86%₹196.00₹123.00n/a36
Dec ’26₹160.30
₹155.67
-2.89%
9.58%₹187.00₹123.00n/a36
Nov ’26₹141.53
₹144.50
+2.10%
10.23%₹169.00₹100.00n/a36
Oct ’26₹141.23
₹142.40
+0.83%
10.04%₹169.00₹100.00n/a36
Sep ’26₹128.03
₹138.21
+7.95%
8.73%₹155.00₹100.00n/a36
Aug ’26₹120.35
₹133.83
+11.20%
9.69%₹157.50₹100.00n/a36
Jul ’26₹125.80
₹133.22
+5.90%
9.61%₹157.50₹100.00n/a36
Jun ’26₹118.02
₹133.04
+12.73%
9.69%₹157.50₹100.00n/a36
May ’26₹112.66
₹125.82
+11.68%
9.18%₹147.50₹95.00n/a38
Apr ’26₹104.53
₹126.51
+21.03%
8.66%₹143.50₹95.00n/a38
Mar ’26₹106.47
₹127.68
+19.93%
9.80%₹162.50₹95.00₹211.1038
Feb ’26₹103.18
₹125.96
+22.08%
11.59%₹162.50₹80.00₹189.0638
Jan ’26₹111.41
₹125.51
+12.66%
12.86%₹162.50₹80.00₹184.8838
Dec ’25₹116.04
₹125.51
+8.16%
12.86%₹162.50₹80.00₹160.3038
Nov ’25₹104.63
₹131.04
+25.25%
11.46%₹157.50₹89.00₹141.5337
Oct ’25₹119.07
₹129.96
+9.15%
13.65%₹157.50₹73.00₹141.2339
Sep ’25₹128.23
₹129.71
+1.16%
13.69%₹157.50₹73.00₹128.0340
Aug ’25₹125.10
₹129.45
+3.48%
13.84%₹157.50₹73.00₹120.3539
Jul ’25₹119.39
₹114.33
-4.24%
14.03%₹137.50₹70.00₹125.8039
Jun ’25₹112.00
₹113.22
+1.09%
13.96%₹137.50₹70.00₹118.0238
May ’25₹96.33
₹101.04
+4.89%
13.48%₹122.50₹70.00₹112.6638
Apr ’25₹87.33
₹100.42
+15.00%
13.63%₹120.00₹60.00₹104.5338
Mar ’25₹85.98
₹100.42
+16.80%
13.63%₹120.00₹60.00₹106.4738
₹206.32
Fair Value
21.0% undervalued intrinsic discount
34
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/29 21:45
End of Day Share Price 2026/03/27 00:00
Earnings2025/12/31
Annual Earnings2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ashok Leyland Limited is covered by 76 analysts. 34 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Amey DargudeAmbit Capital
Nitin BhasinAmbit Capital
Ashwin MehtaAmbit Capital