{"id":344393,"date":"2026-11-12T10:15:51","date_gmt":"2026-11-12T04:45:51","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=344393"},"modified":"2026-11-12T10:15:51","modified_gmt":"2026-11-12T04:45:51","slug":"ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/","title":{"rendered":"Ashok Leyland Share Price: 26.0% CAGR in 3 Years as the Truck Maker Compares With M&#038;M and Eicher Motors"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Ashok_Leyland_Share_Price_260_CAGR_in_3_Years_as_the_Truck_Maker_Compares_With_M_M_and_Eicher_Motors\" title=\"Ashok Leyland Share Price: 26.0% CAGR in 3 Years as the Truck Maker Compares With M&#038;M and Eicher Motors\">Ashok Leyland Share Price: 26.0% CAGR in 3 Years as the Truck Maker Compares With M&#038;M and Eicher Motors<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#How_Much_Has_the_Ashok_Leyland_Share_Price_Returned_in_3_Years\" title=\"How Much Has the Ashok Leyland Share Price Returned in 3 Years?\">How Much Has the Ashok Leyland Share Price Returned in 3 Years?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Ashok_Leyland_vs_Mahindra_Mahindra_and_Eicher_Motors_3-Year_CAGR_Compared\" title=\"Ashok Leyland vs Mahindra &#038; Mahindra and Eicher Motors: 3-Year CAGR Compared\">Ashok Leyland vs Mahindra &#038; Mahindra and Eicher Motors: 3-Year CAGR Compared<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Valuation_and_Quality_Compared\" title=\"Valuation and Quality Compared\">Valuation and Quality Compared<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#What_Is_Driving_the_Ashok_Leyland_Stock\" title=\"What Is Driving the Ashok Leyland Stock?\">What Is Driving the Ashok Leyland Stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#How_the_Established_Players_Stack_Up\" title=\"How the Established Players Stack Up\">How the Established Players Stack Up<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#What_Should_Investors_Track_Next\" title=\"What Should Investors Track Next?\">What Should Investors Track Next?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#How_to_Compare_Commercial_Vehicle_Stocks_Yourself\" title=\"How to Compare Commercial Vehicle Stocks Yourself\">How to Compare Commercial Vehicle Stocks Yourself<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#A_Truck_Maker_With_the_Highest_ROE_in_Its_Peer_Group\" title=\"A Truck Maker With the Highest ROE in Its Peer Group\">A Truck Maker With the Highest ROE in Its Peer Group<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#What_is_the_Ashok_Leyland_share_price_today\" title=\"What is the Ashok Leyland share price today?\">What is the Ashok Leyland share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#What_is_the_3-year_CAGR_of_the_Ashok_Leyland_stock\" title=\"What is the 3-year CAGR of the Ashok Leyland stock?\">What is the 3-year CAGR of the Ashok Leyland stock?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Is_Ashok_Leyland_better_than_Eicher_Motors\" title=\"Is Ashok Leyland better than Eicher Motors?\">Is Ashok Leyland better than Eicher Motors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#What_does_Ashok_Leyland_do\" title=\"What does Ashok Leyland do?\">What does Ashok Leyland do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Is_the_Ashok_Leyland_stock_debt_free\" title=\"Is the Ashok Leyland stock debt free?\">Is the Ashok Leyland stock debt free?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Is_Ashok_Leyland_expensive_compared_with_the_industry\" title=\"Is Ashok Leyland expensive compared with the industry?\">Is Ashok Leyland expensive compared with the industry?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#Which_commercial_vehicle_stock_gave_the_highest_return_in_3_years\" title=\"Which commercial vehicle stock gave the highest return in 3 years?\">Which commercial vehicle stock gave the highest return in 3 years?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/ashok-leyland-share-price-3-year-cagr-vs-auto-peers-mahindra-and-mahindra-eicher-motors\/#How_do_I_calculate_CAGR_for_a_stock\" title=\"How do I calculate CAGR for a stock?\">How do I calculate CAGR for a stock?<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Ashok_Leyland_Share_Price_260_CAGR_in_3_Years_as_the_Truck_Maker_Compares_With_M_M_and_Eicher_Motors\"><\/span><strong>Ashok Leyland Share Price: 26.0% CAGR in 3 Years as the Truck Maker Compares With M&#038;M and Eicher Motors<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Ashok Leyland previous close Rs 173.90. 3-year CAGR 26.0%. Up 2.0x since 10 Nov 2023. ROE 24.37%. Market cap Rs 1,01,765 crore.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The <strong>Ashok Leyland share price<\/strong> closed at Rs 173.90 on 11 November 2026, a compounded annual return of 26.0% over three years. That compares with Mahindra &#038; Mahindra at 31.5% and Eicher Motors at 28.9%. The company has a market cap of Rs 1,01,765 crore and a P\/E of 27.28 against an industry P\/E of 25.73.<\/p>\n<\/p><\/div>\n<p>The <strong>Ashok Leyland share price<\/strong> has delivered a strong return over three years, and the company earns the highest return on equity in its peer group. Ashok Leyland, based in Chennai and part of the Hinduja Group, makes trucks, buses and defence vehicles and is one of the largest commercial vehicle makers in India.<\/p>\n<p>This article compares that run with Mahindra &#038; Mahindra and Eicher Motors. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=ashok-leyland-share-price\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Much_Has_the_Ashok_Leyland_Share_Price_Returned_in_3_Years\"><\/span><strong>How Much Has the Ashok Leyland Share Price Returned in 3 Years?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Ashok Leyland stock closed at Rs 86.90 on 10 November 2023 and at Rs 173.90 on 11 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.00 lakh, which is a CAGR of 26.0%. This is a price return and leaves out dividends.<\/p>\n<p>CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Ashok Leyland can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.<\/p>\n<p>The <strong>Ashok Leyland share price<\/strong> has also followed the pickup in demand for trucks and buses, supported by infrastructure spending, mining activity and fleet replacement.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ashok_Leyland_vs_Mahindra_Mahindra_and_Eicher_Motors_3-Year_CAGR_Compared\"><\/span><strong>Ashok Leyland vs Mahindra &#038; Mahindra and Eicher Motors: 3-Year CAGR Compared<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table ranks the companies by three-year CAGR. Prices on 10 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 11 November 2026.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:14px 0;\">\n<tr>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Company<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Close on 10 Nov 2023<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Previous close (11 Nov 2026)<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Price multiple<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">3-year CAGR<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Mahindra &#038; Mahindra<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 1,524.10<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 3,465.00<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">2.3x<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">31.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Eicher Motors<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 3,540.75<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 7,592.00<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">2.1x<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">28.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Ashok Leyland<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 86.90<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 173.90<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">2.0x<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">26.0%<\/td>\n<\/tr>\n<\/table>\n<p>The Ashok Leyland stock ranks third of the three at 26.0%. The companies ahead are Mahindra &#038; Mahindra (31.5%) and Eicher Motors (28.9%). M&#038;M leads the group, followed by Eicher Motors and then Ashok Leyland. Ashok Leyland is the smallest of the three by market cap but earns the highest ROE.<\/p>\n<p>Look at the <strong>Ashok Leyland share price<\/strong> alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_and_Quality_Compared\"><\/span><strong>Valuation and Quality Compared<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;margin:14px 0;\">\n<tr>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Company<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Market cap<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">P\/E<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">ROE<\/th>\n<th style=\"border:1px solid #bbb;padding:6px 10px;background:#EBF3FB;text-align:left;\">Debt to equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\"><a href=\"https:\/\/univest.in\/stocks\/mandm\/mahindra-and-mahindra-ltd-share-price-today\">Mahindra &#038; Mahindra<\/a><\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 4,29,813 crore<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">20.04<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">25.73<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">19.80%<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">1.57<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\"><a href=\"https:\/\/univest.in\/stocks\/eichermot\/eicher-motors-ltd-share-price-today\">Eicher Motors<\/a><\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 2,09,186 crore<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">36.24<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">25.70<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">21.97%<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">0.02<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\"><a href=\"https:\/\/univest.in\/stocks\/ashokley\/ashok-leyland-ltd-share-price-today\">Ashok Leyland<\/a><\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">Rs 1,01,765 crore<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">27.28<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">25.73<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">24.37%<\/td>\n<td style=\"border:1px solid #bbb;padding:6px 10px;\">4.49<\/td>\n<\/tr>\n<\/table>\n<p>By market cap, Mahindra &#038; Mahindra is the largest of the group at Rs 4,29,813 crore, while the Ashok Leyland stock stands at Rs 1,01,765 crore, about 24% of that size. On earnings, Ashok Leyland shares trade at a P\/E of 27.28 against an industry P\/E of 25.73, a premium of about 6%, which signals that the market expects faster earnings growth. Peer multiples are Mahindra &#038; Mahindra at 20.04 and Eicher Motors at 36.24.<\/p>\n<p>Return on equity is 24.37% for the Ashok Leyland stock, which ranks first among the three, and debt to equity stands at 4.49. Trailing EPS is Rs 6.35. Commercial vehicle makers move with the freight cycle, so the P\/E should be read together with return on equity and the debt that sits in the financing arm.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Driving_the_Ashok_Leyland_Stock\"><\/span><strong>What Is Driving the Ashok Leyland Stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ashok Leyland makes medium and heavy trucks, buses, light commercial vehicles and defence vehicles, and it sells engines and spare parts. Demand for trucks follows freight movement, road building, mining and fleet replacement, so the business is sensitive to economic activity.<\/p>\n<p>The company also has an electric bus business and a stake in a lending arm that finances vehicle buyers. The consolidated balance sheet includes that lending activity, which is why debt to equity looks high.<\/p>\n<p>Followers of the <strong>Ashok Leyland share price<\/strong> usually track monthly truck and bus volumes, margins, the order book for buses and the credit quality of the finance arm.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_the_Established_Players_Stack_Up\"><\/span><strong>How the Established Players Stack Up<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mahindra &#038; Mahindra is a Mumbai-based maker of SUVs, tractors and commercial vehicles, with a financial services arm. It compounded at 31.5% a year, on a market cap of Rs 4,29,813 crore and an ROE of 19.80%.<\/p>\n<p>Eicher Motors is the maker of Royal Enfield motorcycles and, through a joint venture with Volvo, trucks and buses. It compounded at 28.9% a year, on a market cap of Rs 2,09,186 crore and an ROE of 21.97%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Should_Investors_Track_Next\"><\/span><strong>What Should Investors Track Next?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Three things are worth watching on the <strong>Ashok Leyland share price<\/strong>. First, monthly truck and bus volumes. Second, margins as steel and other input costs move. Third, the credit quality of the finance arm.<\/p>\n<p>At a P\/E of 27, the stock trades above the industry P\/E of 26, and its ROE of 24.37% is the highest in the group. Debt to equity of 4.49 includes the lending arm, so follow quarterly numbers closely.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live fundamentals of auto stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Compare_Commercial_Vehicle_Stocks_Yourself\"><\/span><strong>How to Compare Commercial Vehicle Stocks Yourself<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>You can repeat this exercise for any pair of stocks, including the Ashok Leyland stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P\/E against the industry P\/E, ROE and debt to equity. Benchmark the result against the <a href=\"https:\/\/univest.in\/indices\/nifty-50\/nifty-50-share-price-today\">Nifty 50<\/a> as well, so you know whether the stock beat the broader market.<\/p>\n<p>A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the <strong>Ashok Leyland share price<\/strong>, the same four checks give a more complete picture than price alone.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track the <strong>Ashok Leyland share price<\/strong> and compare commercial vehicle stocks live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_Truck_Maker_With_the_Highest_ROE_in_Its_Peer_Group\"><\/span><strong>A Truck Maker With the Highest ROE in Its Peer Group<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Ashok Leyland share price<\/strong> compounded at 26.0% a year over three years, behind M&#038;M at 31.5% and Eicher Motors at 28.9%. Its ROE of 24.37% is the highest of the three, and it is the smallest of the three by market cap.<\/p>\n<p>M&#038;M brings the fastest return and the lowest P\/E, while Eicher Motors brings the largest premium on earnings. The choice depends on whether you prefer a commercial vehicle cycle or a diversified mix.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Ashok_Leyland_share_price_today\"><\/span><strong>What is the Ashok Leyland share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ashok Leyland closed at Rs 173.90 on 11 November 2026, according to NSE data. It has a market cap of Rs 1,01,765 crore and a P\/E of 27.28. Check live quotes before acting, as prices change every trading day.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_3-year_CAGR_of_the_Ashok_Leyland_stock\"><\/span><strong>What is the 3-year CAGR of the Ashok Leyland stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ashok Leyland delivered a price CAGR of 26.0% over three years, moving from Rs 86.90 on 10 November 2023 to Rs 173.90 on 11 November 2026. The figure excludes dividends and uses adjusted closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Ashok_Leyland_better_than_Eicher_Motors\"><\/span><strong>Is Ashok Leyland better than Eicher Motors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Eicher Motors delivered a higher three-year CAGR at 28.9% than Ashok Leyland at 26.0%. Eicher Motors is larger by market cap at Rs 2,09,186 crore against Rs 1,01,765 crore and trades at a higher P\/E of 36.24 against 27.28, while Ashok Leyland has a higher ROE at 24.37% against 21.97%. The better choice depends on your view of each business.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Ashok_Leyland_do\"><\/span><strong>What does Ashok Leyland do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ashok Leyland is a Chennai-based Hinduja Group company that makes trucks, buses and defence vehicles and is one of the largest commercial vehicle makers in India.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Ashok_Leyland_stock_debt_free\"><\/span><strong>Is the Ashok Leyland stock debt free?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The debt to equity ratio of the Ashok Leyland stock is 4.49 and its return on equity is 24.37%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Ashok_Leyland_expensive_compared_with_the_industry\"><\/span><strong>Is Ashok Leyland expensive compared with the industry?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Ashok Leyland trades at a P\/E of 27.28 against an industry P\/E of 25.73. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_commercial_vehicle_stock_gave_the_highest_return_in_3_years\"><\/span><strong>Which commercial vehicle stock gave the highest return in 3 years?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Among the companies compared here, Mahindra &#038; Mahindra delivered the highest three-year CAGR at 31.5%, followed by Eicher Motors at 28.9%. Past returns do not guarantee future performance.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_do_I_calculate_CAGR_for_a_stock\"><\/span><strong>How do I calculate CAGR for a stock?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the Ashok Leyland share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ashok Leyland closed at Rs 173.90 on 11 November 2026, according to NSE data. It has a market cap of Rs 1,01,765 crore and a P\/E of 27.28. Check live quotes before acting, as prices change every trading day.\"}},{\"@type\":\"Question\",\"name\":\"What is the 3-year CAGR of the Ashok Leyland stock?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ashok Leyland delivered a price CAGR of 26.0% over three years, moving from Rs 86.90 on 10 November 2023 to Rs 173.90 on 11 November 2026. The figure excludes dividends and uses adjusted closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Is Ashok Leyland better than Eicher Motors?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Eicher Motors delivered a higher three-year CAGR at 28.9% than Ashok Leyland at 26.0%. Eicher Motors is larger by market cap at Rs 2,09,186 crore against Rs 1,01,765 crore and trades at a higher P\/E of 36.24 against 27.28, while Ashok Leyland has a higher ROE at 24.37% against 21.97%. The better choice depends on your view of each business.\"}},{\"@type\":\"Question\",\"name\":\"What does Ashok Leyland do?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ashok Leyland is a Chennai-based Hinduja Group company that makes trucks, buses and defence vehicles and is one of the largest commercial vehicle makers in India.\"}},{\"@type\":\"Question\",\"name\":\"Is the Ashok Leyland stock debt free?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The debt to equity ratio of the Ashok Leyland stock is 4.49 and its return on equity is 24.37%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.\"}},{\"@type\":\"Question\",\"name\":\"Is Ashok Leyland expensive compared with the industry?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Ashok Leyland trades at a P\/E of 27.28 against an industry P\/E of 25.73. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.\"}},{\"@type\":\"Question\",\"name\":\"Which commercial vehicle stock gave the highest return in 3 years?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Among the companies compared here, Mahindra & Mahindra delivered the highest three-year CAGR at 31.5%, followed by Eicher Motors at 28.9%. Past returns do not guarantee future performance.\"}},{\"@type\":\"Question\",\"name\":\"How do I calculate CAGR for a stock?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ashok Leyland share price compounded at 26.0% a year over 3 years. See how it compares with M&#038;M and Eicher Motors on returns, valuation and ROE.<\/p>\n","protected":false},"author":38,"featured_media":344392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[22360,22362,22361,22363],"class_list":["post-344393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-ashok-leyland-share-price","tag-ashok-leyland-stock","tag-ashok-leyland-vs-eicher-motors","tag-commercial-vehicle-stocks-3-year-return"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["344392"],"rank_math_title":["Ashok Leyland Share Price: 26.0% CAGR vs M&amp;M, Eicher"],"rank_math_description":["Ashok Leyland share price compounded at 26.0% a year over 3 years. See how it compares with M&amp;M and Eicher Motors on returns, valuation and ROE."],"rank_math_focus_keyword":["Ashok Leyland share price | Density Target: 1.2-1.5%"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/11\/ashok-leyland-share-price-26-0-cagr-in-3-years-as-the-truck-maker-compares-with.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/344393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=344393"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/344393\/revisions"}],"predecessor-version":[{"id":344394,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/344393\/revisions\/344394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/344392"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=344393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=344393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=344393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}