AI Summary
✦ ClarthaValuation Metrics
Trading 55.8% above historical median. Valuation is rising — currently in the strongly overvalued zone (z-score: +1.66). Confidence: 72%.
Live forward EPS implies next-12-month EPS of ₹8.13. Applying the stock's normalized valuation corridor produces a fair range of ₹130.24 to ₹194.14, with base value near ₹154.06 (-11.9% vs current price).
Live forward estimate anchored to the company's historical valuation corridor.
Forward EPS
₹8.13
Forward P/E
21.5x
Base Fair Value
₹154.06
Fair Range
₹130.24 - ₹194.14
Upside To Base
-11.9%
Estimate Source
Live forward EPS
Growth Estimate
+24.5%
5Y Average
16.86
Current
29.53
Overvalued
23.88
Undervalued
16.02
5Y Average
7.31
Current
12.79
Overvalued
8.93
Undervalued
4.94
5Y Average
6.83
Current
7.21
Overvalued
7.21
Undervalued
5.95
Peers & Comparison
Sector: Industrials · Theme: Trucks & Buses
| Company | Rev. Growth | Margin | P/E | vs Avg | 52W Perf. |
|---|---|---|---|---|---|
TATA MOTORS LIMITED TMCVTrucks & Buses | -37.8% | 3.6% | 54.6x Fair | +10% vs avg | +36.7% |
EICHER MOTORS LTD EICHERMOTTrucks & Buses | +31.5% | 23.2% | 38.1x Undervalued | -23% vs avg | +41.0% |
HINDUSTAN AERONAUTICS LTD HALDefense | +1.8% | 27.5% | 36.0x Undervalued | -27% vs avg | +11.8% |
POLYCAB INDIA LIMITED POLYCABElectrical Components & Equipments | +39.0% | 9.2% | 48.0x Fair | -3% vs avg | +36.3% |
KAYNES TECHNOLOGY IND LTD KAYNESElectrical Components & Equipments | +42.6% | 8.9% | 72.7x Premium | +47% vs avg | -35.7% |
JSW INFRASTRUCTURE LTD JSWINFRAPorts | +18.1% | 26.6% | 48.3x Fair | -2% vs avg | +15.0% |
HAVELLS INDIA LIMITED HAVELLSElectrical Components & Equipments | +19.5% | 6.9% | 49.1x Fair | -1% vs avg | -12.3% |
INTERGLOBE AVIATION LTD INDIGOAirlines | +6.2% | 3.8% | — | — | -10.0% |
ASHOK LEYLAND LTD trades at a discount (29.5x vs peer avg 49.5x), suggesting potential undervaluation relative to the Trucks & Buses cohort. Peers include TATA MOTORS LIMITED, EICHER MOTORS LTD, HINDUSTAN AERONAUTICS LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.
Financials
Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.
Latest revenue
₹14.16K CrMar 2026Latest net profit
₹1.41K CrMar 2026Latest EPS
₹2.39Mar 2026Net margin
15.0%Mar 2026Performance
Bars show revenue and net profit. The line shows net margin.
- Revenue
- Net income
- Net margin %
Earnings
Revenue is shown in crores. EPS is rupees per share.
- Revenue
- EPS
Revenue to profit conversion
Bridge from operating numbers to profit for the latest reported period.
Latest reported period: Mar 2026
Debt level and coverage
Debt, cash and free cash flow compared on the same crore scale.
- Debt
- Free cash flow
- Cash & equivalents
Results
| Metric | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 11,626 | 8,189 | 9,638 | 9,273 | 11,267 | 8,599 | 8,769 | 9,479 | 11,907 | 8,725 | 9,588 | 11,534 | 14,160 |
| Expenses + | 10,350 | 7,369 | 8,558 | 8,159 | 9,675 | 7,688 | 7,752 | 8,267 | 10,116 | 7,755 | 8,426 | 9,999 | 12,095 |
| Operating Profit | 1,276 | 821 | 1,080 | 1,114 | 1,592 | 911 | 1,017 | 1,211 | 1,791 | 970 | 1,162 | 1,535 | 2,066 |
| OPM % | 11% | 10% | 11% | 12% | 14% | 11% | 12% | 13% | 15% | 11% | 12% | 13% | 15% |
| Other Income + | 95 | 51 | 25 | 29 | 48 | 22 | 215 | 25 | 92 | 53 | 95 | -249 | 68 |
| Interest | 63 | 70 | 59 | 62 | 59 | 59 | 61 | 50 | 47 | 42 | 42 | 44 | 42 |
| Depreciation | 184 | 179 | 180 | 178 | 180 | 173 | 175 | 192 | 179 | 183 | 172 | 177 | 183 |
| Profit before tax | 1,125 | 622 | 865 | 903 | 1,401 | 701 | 996 | 994 | 1,657 | 798 | 1,043 | 1,064 | 1,909 |
| Tax % | 33% | 7% | 35% | 36% | 36% | 25% | 23% | 23% | 25% | 26% | 26% | 25% | 26% |
| Net Profit + | 751 | 576 | 561 | 580 | 900 | 526 | 770 | 762 | 1,246 | 594 | 771 | 796 | 1,405 |
| EPS in Rs | 1.28 | 0.98 | 0.96 | 0.99 | 1.53 | 0.89 | 1.31 | 1.30 | 2.12 | 1.01 | 1.31 | 1.36 | 2.39 |
| Raw PDF | |||||||||||||
| YOY Sales Growth % | 32.95% | 13.38% | 16.60% | 2.69% | -3.09% | 5.00% | -9.02% | 2.22% | 5.68% | 1.47% | 9.34% | 21.68% | 18.93% |
| Material Cost % | 76% | 74% | 74% | 72% | 72% | 72% | 71% | 71% | 71% | 71% | 71% | 72% | 71% |
| Employee Cost % | 5% | 7% | 6% | 6% | 5% | 6% | 7% | 6% | 5% | 7% | 7% | 5% | 5% |
| Exceptional items | 56 | -1 | -23 | -1 | -70 | 0 | 117 | 0 | -14 | 0 | -40 | -308 | 0 |
| Other income normal | 39 | 51 | 47 | 30 | 118 | 22 | 97 | 25 | 106 | 53 | 135 | 59 | 68 |
| Exceptional items AT | 36 | -0 | -15 | -0 | -45 | 0 | 81 | 0 | -9 | 0 | -30 | -230 | 0 |
| Profit excl Excep | 715 | 577 | 576 | 580 | 945 | 526 | 689 | 762 | 1,255 | 594 | 801 | 1,026 | 1,405 |
| Profit for PE | 715 | 577 | 576 | 580 | 945 | 526 | 689 | 762 | 1,255 | 594 | 801 | 1,026 | 1,405 |
| Profit for EPS | 751 | 576 | 561 | 580 | 900 | 526 | 770 | 762 | 1,246 | 594 | 771 | 796 | 1,405 |
| YOY Profit Growth % | 50% | 860% | 197% | 63% | 32% | -9% | 20% | 31% | 33% | 13% | 16% | 35% | 12% |
All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).
Events Timeline
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation