Ashok Leyland Limited vs FORCE MOTORS LTD
An objective side-by-side of ASHOKLEY and FORCEMOT, both in Automobiles - LCVs / HCVs: valuation, profitability, growth, balance sheet, ownership and share-price performance. Where one number is clearly better on its own terms (lower P/E, higher ROE), it is shaded. That is a description, not a recommendation.
Prices as of 2026-09-21 close
Latest results: ASHOKLEY Jun 2026 · FORCEMOT Jun 2026
At a glance
- Ashok Leyland Limited is the larger company by market value, about 4.1 times the size of FORCE MOTORS LTD.
- On trailing earnings, FORCE MOTORS LTD trades at the lower P/E (18.4 against 26.2).
- FORCE MOTORS LTD earns the higher return on equity (29.9% against 25.4%).
- Over three years FORCE MOTORS LTD has grown profits faster (221% a year against 46%).
- Over the past year the share prices returned +20.8% (ASHOKLEY) and -6.9% (FORCEMOT).
| Metric | Ashok Leyland ASHOKLEY |
FORCE MOTORS FORCEMOT |
|---|---|---|
| Size and price | ||
| Market cap | ₹95,010 Cr | ₹23,039 Cr |
| Share price | ₹161.75 | ₹17,485 |
| Valuation | ||
| P/E | 26.22 | 18.40 |
| P/B | 6.67 | 5.49 |
| EV/EBITDA | 19.24 | 15.58 |
| PEG | 0.57 | 0.08 |
| Dividend yield | 2.1% | 0.2% |
| Profitability | ||
| ROE | 25.4% | 29.9% |
| ROCE | 14.0% | 36.0% |
| Operating margin | 16.1% | 16.1% |
| Sales (TTM) | ₹51,299 Cr | ₹9,200 Cr |
| Net profit (TTM) | ₹3,623 Cr | ₹1,252 Cr |
| Growth | ||
| Latest quarter sales YoY | -17.7% | +6.2% |
| Latest quarter profit YoY | -7.4% | +22.8% |
| Sales CAGR 3Y | +11.0% | +22.0% |
| Profit CAGR 3Y | +46.0% | +221.0% |
| Sales CAGR 5Y | +24.0% | +35.0% |
| Profit CAGR 5Y | +85.0% | +66.0% |
| Financial strength | ||
| Debt/Equity | 4.49 | 0.00 |
| Interest cover | 2.34 | 340.01 |
| Ownership | ||
| Promoter holding | 51.5% | 61.6% |
| Promoter change (4 qtrs) | -0.01 pp | +0.00 pp |
| Price performance | ||
| Return 1M | -6.93% | -2.24% |
| Return 3M | +2.90% | -5.60% |
| Return 1Y | +20.76% | -6.90% |
| Return YTD | -9.73% | -14.98% |
| Technical condition | ||
| Technical score | 32 | 29 |
| RS rating (1-99) | 57.00 | 40.00 |
| % vs 200-DMA | -5.73% | -10.61% |
| RSI (14) | 41.72 | 46.59 |
| % from 52-week high | -24.91% | -33.89% |
