Ashok Leyland (NSE:ASHOKLEY) EBIT: ₹98,594 Mil (TTM As of Mar. 2026)


NSE:ASHOKLEY Ashok Leyland Ltd NSE:ASHOKLEY
86 GF Score
Price ₹154.91
GF Value ₹129.40
Valuation Modestly Overvalued
! 1 Warning Sign
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What is Ashok Leyland EBIT?

Ashok Leyland NSE:ASHOKLEY +2.28% 86 EBIT is ₹98,594 Mil as of Mar. 2026. GuruFocus rates NSE:ASHOKLEY with a GF Score™ of 86/100 and a GF Value™ of ₹129.40 (Modestly Overvalued). The stock has 1 warning sign investors should review.

Ashok Leyland's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ₹31,804 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ₹98,594 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Ashok Leyland's annualized ROC % for the quarter that ended in Mar. 2026 was 11.35%. Ashok Leyland's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 149.11%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Ashok Leyland's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.98%.


Ashok Leyland  (NSE:ASHOKLEY) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Ashok Leyland's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=128030.8 * ( 1 - 28.79% )/( (0 + 803577.1)/ 1 )
=91170.73268/803577.1
=11.35 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1010407.4 - 100583.9 - ( 180072.1 - max(0, 331176.8 - 437423.2+180072.1))
=803577.1

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Ashok Leyland's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=127215.6/( ( (0 + max(0, 0)) + (85317.7 + max(-63706.8, 0)) )/ 1 )
=127215.6/( ( 0 + 85317.7 )/ 1 )
=127215.6/85317.7
=149.11 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0) - (0 + 0 + 0)
=0

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(30874.4 + 46718 + 12707.9) - (100583.9 + 0 + 53423.2)
=-63706.8

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Ashok Leyland's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=98594.4/1412484.163
=6.98 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Ashok Leyland EBIT Related Terms


Ashok Leyland EBIT Historical Data

* Premium members only.

The historical data trend for Ashok Leyland's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ashok Leyland EBIT Chart

Ashok Leyland Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 16,694.60 43,584.30 70,883.20 85,265.40 98,594.40

Ashok Leyland Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 26,734.00 20,033.10 22,760.30 23,997.10 31,803.90

NSE:ASHOKLEY vs CAT, DE, PCAR: EBIT Comparison

For the Farm & Heavy Construction Machinery subindustry, Ashok Leyland's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ashok Leyland EV-to-EBIT vs Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Ashok Leyland's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Ashok Leyland's EV-to-EBIT falls into.


NSE:ASHOKLEY
86GF Score
Ashok Leyland Ltd NSE:ASHOKLEY
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Ashok Leyland EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹98,594 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of ₹98,594 Mil mean?
Ashok Leyland (NSE:ASHOKLEY) has a EBIT of ₹98,594 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Ashok Leyland.
Is Ashok Leyland's EBIT too high?
Ashok Leyland's current EBIT is ₹98,594 Mil. Overall, Ashok Leyland has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ashok Leyland's EBIT compare to CAT and DE?
Ashok Leyland's EBIT of ₹98,594 Mil can be compared against companies in the Farm & Heavy Construction Machinery industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Farm & Heavy Construction Machinery company?
A good EBIT depends on the Farm & Heavy Construction Machinery industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Ashok Leyland. Ashok Leyland's current EBIT is ₹98,594 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ashok Leyland stock overvalued right now?
Based on GuruFocus' analysis, Ashok Leyland (NSE:ASHOKLEY) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹129.40, compared to a current price of ₹154.91 — trading 19.7% above its estimated fair value. The current EBIT is ₹98,594 Mil. Ashok Leyland's overall GF Score™ is 86/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Ashok Leyland (NSE:ASHOKLEY), the current EBIT is ₹98,594 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Ashok Leyland (NSE:ASHOKLEY) Overvalued in 2026?

Based on GuruFocus' analysis, Ashok Leyland stock appears to be overvalued. The current stock price of ₹154.91 is trading 19.7% above its estimated GF Value™ of ₹129.40. GuruFocus considers Ashok Leyland to be Modestly Overvalued.

Key valuation signals for NSE:ASHOKLEY:

  • EBIT: ₹98,594 Mil
  • GF Value™: ₹129.40 vs. price of ₹154.91 (19.7% above fair value)
  • GF Score™: 86/100 with 1 warning sign

No single metric tells the full story. See the NSE:ASHOKLEY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ashok Leyland Business Description

Other Exchanges 500477:India
Address No. 1, Sardar Patel Road, Guindy, Chennai, TN, IND, 600032
Ashok Leyland Ltd is an automobile manufacturing company. The company manufactures commercial vehicles, engines, spare parts, and accessories, with the vast majority of revenue being derived from commercial vehicle sales. It produces and sells vehicles across different categories such as Trucks, Buses, Light Commercial Vehicles, and Defence. The company's operating segments are; Commercial vehicles, and Financial services. Geographically, it derives the majority revenue within India and the rest from other markets.
86GF Score

Get the complete analysis for NSE:ASHOKLEY

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹154.91
Price
₹129.40
GF Value