IndustrialsAgricultural, Commercial & Construction VehiclesNIFTY MIDCAP 50 +7ashokleyland.com· Chennai
Consolidated figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | — | 39.2% | 38.1% | 32.9% | 30.8% | 36.2% | 38.8% | 39.9% |
| EBITDA margin % | 14.8% | 14.7% | 12.7% | 10.5% | 12.2% | 17.4% | 19% | 19.1% |
| EBIT margin % | 12.8% | 11.3% | 8.4% | 7.2% | 10.1% | 15.3% | 16.7% | 17% |
| PAT margin % | 6.6% | 2.1% | -0.4% | -1.1% | 3.3% | 5.9% | 7% | 6.6% |
| Working capital | ||||||||
| Receivable days | 30 | 25 | 57 | 46 | 37 | 31 | 25 | 20 |
| Inventory days | 40 | 42 | 76 | 53 | 44 | 50 | 49 | 50 |
| Payable days | 0 | 90 | 162 | 150 | 96 | 85 | 99 | 100 |
| NWC days | 69 | -23 | -30 | -52 | -16 | -4 | -24 | -30 |
| Leverage | ||||||||
| Current ratio | 1.08 | 1.03 | 0.98 | 1 | 1.08 | 1.09 | 1.29 | 1.32 |
| Debt to EBITDA | 3.09 | 5 | 9.7 | 8.66 | 6.12 | 5.14 | 5.43 | 5.95 |
| Debt to equity | 1.73 | 2.07 | 3.04 | 3.28 | 3.64 | 4.53 | 4.08 | 4.49 |
| Interest coverage | 2.9 | 1.4 | 0.9 | 1.1 | 2.1 | 2.4 | 2.2 | 2.2 |
| Asset turnover | 0.85 | 0.58 | 0.46 | 0.6 | 0.76 | 0.68 | 0.59 | 0.56 |
| Return ratios | ||||||||
| Return on assets % | 5.6% | 1.2% | -0.2% | -0.7% | 2.5% | 4% | 4.1% | 3.7% |
| Return on capital employed % | 20.2% | 11% | 7.1% | 7.8% | 15% | 19.5% | 17.6% | 16.6% |
| Return on equity % | 25.1% | 5.9% | -0.9% | -3.9% | 15.9% | 29.9% | 27.7% | 26.1% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.