# Auto & Auto Ancl - CV — company-by-company sector analysis

> Auto & Auto Ancl - CV: Tata Motors Ltd owns the largest revenue base; Craftsman Automation Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-29. Not investment advice.

## Bottom line

Auto & Auto Ancl - CV has outperformed NIFTY 500 by 28.9% over 52 weeks and 5% over 13 weeks. 4 of 6 covered companies beat NIFTY on Mansfield relative strength, while 3 of 6 beat the sector itself. Tata Motors Ltd leads with revenue of ₹83,854 crore, based on 7 of 7 comparable companies through Mar 2026.

### Is the Auto & Auto Ancl - CV sector outperforming NIFTY 500?

Auto & Auto Ancl - CV has outperformed NIFTY 500 by 28.9% over 52 weeks and 5% over 13 weeks. 4 of 6 covered companies beat NIFTY on Mansfield relative strength, while 3 of 6 beat the sector itself.

### Which Auto & Auto Ancl - CV company is largest by revenue?

Tata Motors Ltd leads with revenue of ₹83,854 crore, based on 7 of 7 comparable companies through Mar 2026.

### Which Auto & Auto Ancl - CV company is growing fastest?

Craftsman Automation Ltd has the fastest current revenue growth at 41.8%, across 5 of 7 comparable companies.

### Which Auto & Auto Ancl - CV company has the strongest 4-Factor Sector Score?

Jamna Auto Industries Ltd ranks first at 72.5/100 with 95.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Auto & Auto Ancl - CV company has the least gross debt?

Jamna Auto Industries Ltd has the lowest comparable gross debt at ₹12 crore. Ashok Leyland Ltd has the highest at ₹63,936 crore.

### Which Auto & Auto Ancl - CV company has the lowest comparable PEG?

Jamna Auto Industries Ltd has the lowest comparable Guarded PEG at 0.86, among 3 of 7 companies that pass the metric’s comparability rules.

### How much history does this Auto & Auto Ancl - CV comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Auto & Auto Ancl - CV has outperformed NIFTY 500 by 28.9% over the last 52 weeks. Over 13 weeks the gap is a lead of 5%. 4 of 6 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. GNA Axles Ltd is the strongest against the sector itself at +23.3%.

13-week sector return versus NIFTY 500: 5.0%
52-week sector return versus NIFTY 500: 29%
Stocks leading NIFTY: 4/6
Stocks leading sector: 3/6

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 7
Combined market value: ₹2.7 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Jamna Auto Industries Ltd (JAMNAAUTO): 73/100 — Favorable setup; evidence 96%
   - Growth & earnings 25.7/35 | Capital efficiency 20.6/25 | Valuation 15.8/20 | Relative strength 10.4/20
   - Exact sum: 25.7 + 20.6 + 15.8 + 10.4 = 72.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Craftsman Automation Ltd (CRAFTSMAN): 64/100 — Mixed-positive evidence; evidence 79%
   - Growth & earnings 27.3/35 | Capital efficiency 12.0/25 | Valuation 6.8/20 | Relative strength 18.2/20
   - Exact sum: 27.3 + 12 + 6.8 + 18.2 = 64.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. GNA Axles Ltd (GNA): 58/100 — Mixed-positive evidence; evidence 100%
   - Growth & earnings 14.8/35 | Capital efficiency 15.1/25 | Valuation 8.0/20 | Relative strength 20.0/20
   - Exact sum: 14.8 + 15.1 + 8 + 20 = 57.9
   - Decision use: Price leads the evidence: RS versus the benchmark is 39.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4. Automotive Axles Ltd (AUTOAXLES): 47/100 — Mixed-negative evidence; evidence 90%
   - Growth & earnings 10.1/35 | Capital efficiency 17.1/25 | Valuation 13.2/20 | Relative strength 6.6/20
   - Exact sum: 10.1 + 17.1 + 13.2 + 6.6 = 47
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
5. Ashok Leyland Ltd (ASHOKLEY): 44/100 — Mixed-negative evidence; evidence 73%
   - Growth & earnings 14.9/35 | Capital efficiency 9.7/25 | Valuation 9.4/20 | Relative strength 10.4/20
   - Exact sum: 14.9 + 9.7 + 9.4 + 10.4 = 44.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Tata Motors Ltd (TMCV): 54/100 — Thin evidence · provisional; evidence 31%
   - Growth & earnings 18.5/35 | Capital efficiency 16.4/25 | Valuation 9.1/20 | Relative strength 10.0/20
   - Exact sum: 18.5 + 16.4 + 9.1 + 10 = 54
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. Premier Ltd (PREMIER): 37/100 — Thin evidence · provisional; evidence 36%
   - Growth & earnings 19.1/35 | Capital efficiency 5.1/25 | Valuation 10.0/20 | Relative strength 3.0/20
   - Exact sum: 19.1 + 5.1 + 10 + 3 = 37.2
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: Tata Motors Ltd is the scale leader at ₹83,854 crore, 48.8% ahead of Ashok Leyland Ltd. Craftsman Automation Ltd's growth is 41.8% from a ₹8,069 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Tata Motors Ltd is the scale benchmark; Craftsman Automation Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Tata Motors Ltd's growth falls below Craftsman Automation Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Tata Motors Ltd · ₹83,854 crore | 48.8% versus #2 · Ashok Leyland Ltd | 3/3 recent comparable periods | 7/7 companies · 107 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Tata Motors Ltd (TMCV): ₹83.9K Cr
2. Ashok Leyland Ltd (ASHOKLEY): ₹56.4K Cr
3. Craftsman Automation Ltd (CRAFTSMAN): ₹8.1K Cr
4. Jamna Auto Industries Ltd (JAMNAAUTO): ₹2.6K Cr
5. Automotive Axles Ltd (AUTOAXLES): ₹2.2K Cr

### Revenue growth — fastest growers
1. Craftsman Automation Ltd (CRAFTSMAN): 42%
2. Ashok Leyland Ltd (ASHOKLEY): 16%
3. Jamna Auto Industries Ltd (JAMNAAUTO): 15%
4. GNA Axles Ltd (GNA): 8.0%
5. Automotive Axles Ltd (AUTOAXLES): 4.8%

### 20-quarter Revenue history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 ₹17.5K Cr | Dec 2024 ₹18.8K Cr | Mar 2025 ₹21.9K Cr | Jun 2025 ₹17.3K Cr | Sep 2025 ₹18.6K Cr | Dec 2025 ₹21.8K Cr | Mar 2026 ₹26.1K Cr | Jun 2026 —
- ASHOKLEY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹8.3K Cr | Dec 2022 ₹10.4K Cr | Mar 2023 ₹13.2K Cr | Jun 2023 ₹9.7K Cr | Sep 2023 ₹11.4K Cr | Dec 2023 ₹11.1K Cr | Mar 2024 ₹13.5K Cr | Jun 2024 ₹10.7K Cr | Sep 2024 ₹11.1K Cr | Dec 2024 ₹12.0K Cr | Mar 2025 ₹14.7K Cr | Jun 2025 ₹11.7K Cr | Sep 2025 ₹12.6K Cr | Dec 2025 ₹14.8K Cr | Mar 2026 ₹17.2K Cr | Jun 2026 —
- CRAFTSMAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹749 Cr | Mar 2023 ₹980 Cr | Jun 2023 ₹1.0K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹1.7K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹2.1K Cr | Mar 2026 ₹2.2K Cr | Jun 2026 —
- JAMNAAUTO: Sep 2021 ₹352 Cr | Dec 2021 ₹445 Cr | Mar 2022 ₹626 Cr | Jun 2022 ₹548 Cr | Sep 2022 ₹553 Cr | Dec 2022 ₹591 Cr | Mar 2023 ₹634 Cr | Jun 2023 ₹575 Cr | Sep 2023 ₹607 Cr | Dec 2023 ₹604 Cr | Mar 2024 ₹640 Cr | Jun 2024 ₹557 Cr | Sep 2024 ₹513 Cr | Dec 2024 ₹562 Cr | Mar 2025 ₹638 Cr | Jun 2025 ₹573 Cr | Sep 2025 ₹531 Cr | Dec 2025 ₹668 Cr | Mar 2026 ₹840 Cr | Jun 2026 —
- AUTOAXLES: Sep 2021 ₹309 Cr | Dec 2021 ₹374 Cr | Mar 2022 ₹552 Cr | Jun 2022 ₹500 Cr | Sep 2022 ₹475 Cr | Dec 2022 ₹656 Cr | Mar 2023 ₹693 Cr | Jun 2023 ₹532 Cr | Sep 2023 ₹584 Cr | Dec 2023 ₹541 Cr | Mar 2024 ₹572 Cr | Jun 2024 ₹492 Cr | Sep 2024 ₹495 Cr | Dec 2024 ₹531 Cr | Mar 2025 ₹560 Cr | Jun 2025 ₹489 Cr | Sep 2025 ₹462 Cr | Dec 2025 ₹562 Cr | Mar 2026 ₹664 Cr | Jun 2026 —
- GNA: Sep 2021 ₹340 Cr | Dec 2021 ₹301 Cr | Mar 2022 ₹281 Cr | Jun 2022 ₹375 Cr | Sep 2022 ₹420 Cr | Dec 2022 ₹404 Cr | Mar 2023 ₹384 Cr | Jun 2023 ₹374 Cr | Sep 2023 ₹404 Cr | Dec 2023 ₹357 Cr | Mar 2024 ₹371 Cr | Jun 2024 ₹400 Cr | Sep 2024 ₹388 Cr | Dec 2024 ₹375 Cr | Mar 2025 ₹378 Cr | Jun 2025 ₹344 Cr | Sep 2025 ₹348 Cr | Dec 2025 ₹375 Cr | Mar 2026 ₹411 Cr | Jun 2026 ₹470 Cr
- PREMIER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Revenue growth history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 6.0% | Dec 2025 16% | Mar 2026 19% | Jun 2026 —
- ASHOKLEY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 38% | Dec 2023 6.7% | Mar 2024 2.6% | Jun 2024 11% | Sep 2024 -2.5% | Dec 2024 8.1% | Mar 2025 8.5% | Jun 2025 9.2% | Sep 2025 13% | Dec 2025 24% | Mar 2026 17% | Jun 2026 —
- CRAFTSMAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 51% | Mar 2024 13% | Jun 2024 11% | Sep 2024 3.0% | Dec 2024 39% | Mar 2025 58% | Jun 2025 55% | Sep 2025 65% | Dec 2025 31% | Mar 2026 27% | Jun 2026 —
- JAMNAAUTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 86% | Sep 2022 57% | Dec 2022 33% | Mar 2023 1.3% | Jun 2023 4.9% | Sep 2023 9.8% | Dec 2023 2.2% | Mar 2024 1.0% | Jun 2024 -3.1% | Sep 2024 -15% | Dec 2024 -7.0% | Mar 2025 -0.3% | Jun 2025 2.9% | Sep 2025 3.5% | Dec 2025 19% | Mar 2026 32% | Jun 2026 —
- AUTOAXLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 96% | Sep 2022 54% | Dec 2022 75% | Mar 2023 26% | Jun 2023 6.4% | Sep 2023 23% | Dec 2023 -18% | Mar 2024 -17% | Jun 2024 -7.5% | Sep 2024 -15% | Dec 2024 -1.9% | Mar 2025 -2.1% | Jun 2025 -0.6% | Sep 2025 -6.7% | Dec 2025 5.8% | Mar 2026 19% | Jun 2026 —
- GNA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 14% | Sep 2022 24% | Dec 2022 34% | Mar 2023 37% | Jun 2023 -0.3% | Sep 2023 -3.8% | Dec 2023 -12% | Mar 2024 -3.4% | Jun 2024 7.0% | Sep 2024 -4.0% | Dec 2024 5.0% | Mar 2025 1.9% | Jun 2025 -14% | Sep 2025 -10% | Dec 2025 0.0% | Mar 2026 8.7% | Jun 2026 37%

## Operating Economics & Margin Trend

What the numbers say: Ashok Leyland Ltd leads opm at 19%; Jamna Auto Industries Ltd leads margin change at +3 percentage points.

Investor read: Ashok Leyland Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Ashok Leyland Ltd · 19% | 18.8% versus #2 · Craftsman Automation Ltd | 6/8 recent comparable periods | 6/7 companies · 103 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Ashok Leyland Ltd (ASHOKLEY): 19%
2. Craftsman Automation Ltd (CRAFTSMAN): 16%
3. Jamna Auto Industries Ltd (JAMNAAUTO): 16%
4. GNA Axles Ltd (GNA): 15%
5. Tata Motors Ltd (TMCV): 13%

### Margin change — fastest expanders
1. Jamna Auto Industries Ltd (JAMNAAUTO): +3.0 pp
2. Craftsman Automation Ltd (CRAFTSMAN): +2.0 pp
3. Tata Motors Ltd (TMCV): +2.0 pp
4. Automotive Axles Ltd (AUTOAXLES): +1.0 pp
5. GNA Axles Ltd (GNA): 0.0 pp

### 20-quarter OPM history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 10% | Dec 2024 11% | Mar 2025 11% | Jun 2025 12% | Sep 2025 11% | Dec 2025 12% | Mar 2026 13% | Jun 2026 —
- ASHOKLEY: Sep 2021 10% | Dec 2021 9.9% | Mar 2022 12% | Jun 2022 9.1% | Sep 2022 6.0% | Dec 2022 13% | Mar 2023 15% | Jun 2023 16% | Sep 2023 16% | Dec 2023 18% | Mar 2024 19% | Jun 2024 17% | Sep 2024 18% | Dec 2024 19% | Mar 2025 20% | Jun 2025 19% | Sep 2025 19% | Dec 2025 19% | Mar 2026 19% | Jun 2026 —
- CRAFTSMAN: Sep 2021 25% | Dec 2021 23% | Mar 2022 24% | Jun 2022 24% | Sep 2022 22% | Dec 2022 21% | Mar 2023 19% | Jun 2023 21% | Sep 2023 20% | Dec 2023 19% | Mar 2024 19% | Jun 2024 17% | Sep 2024 16% | Dec 2024 13% | Mar 2025 14% | Jun 2025 15% | Sep 2025 15% | Dec 2025 15% | Mar 2026 16% | Jun 2026 —
- JAMNAAUTO: Sep 2021 13% | Dec 2021 13% | Mar 2022 14% | Jun 2022 11% | Sep 2022 10% | Dec 2022 11% | Mar 2023 13% | Jun 2023 13% | Sep 2023 13% | Dec 2023 14% | Mar 2024 14% | Jun 2024 13% | Sep 2024 13% | Dec 2024 14% | Mar 2025 13% | Jun 2025 13% | Sep 2025 13% | Dec 2025 17% | Mar 2026 16% | Jun 2026 —
- AUTOAXLES: Sep 2021 7.2% | Dec 2021 9.3% | Mar 2022 11% | Jun 2022 10% | Sep 2022 11% | Dec 2022 12% | Mar 2023 11% | Jun 2023 11% | Sep 2023 11% | Dec 2023 11% | Mar 2024 11% | Jun 2024 10% | Sep 2024 10% | Dec 2024 11% | Mar 2025 11% | Jun 2025 10% | Sep 2025 10% | Dec 2025 11% | Mar 2026 12% | Jun 2026 —
- GNA: Sep 2021 14% | Dec 2021 13% | Mar 2022 13% | Jun 2022 13% | Sep 2022 14% | Dec 2022 16% | Mar 2023 15% | Jun 2023 16% | Sep 2023 14% | Dec 2023 13% | Mar 2024 10% | Jun 2024 14% | Sep 2024 14% | Dec 2024 14% | Mar 2025 13% | Jun 2025 15% | Sep 2025 18% | Dec 2025 18% | Mar 2026 14% | Jun 2026 15%

### 20-quarter Margin change history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 +1.0 pp | Dec 2025 +1.0 pp | Mar 2026 +2.0 pp | Jun 2026 —
- ASHOKLEY: Sep 2021 −4.7 pp | Dec 2021 −2.7 pp | Mar 2022 −0.4 pp | Jun 2022 +0.9 pp | Sep 2022 −4.4 pp | Dec 2022 +3.1 pp | Mar 2023 +3.0 pp | Jun 2023 +6.9 pp | Sep 2023 +10.0 pp | Dec 2023 +5.0 pp | Mar 2024 +4.0 pp | Jun 2024 +1.0 pp | Sep 2024 +2.0 pp | Dec 2024 +1.0 pp | Mar 2025 +1.0 pp | Jun 2025 +2.0 pp | Sep 2025 +1.0 pp | Dec 2025 0.0 pp | Mar 2026 −1.0 pp | Jun 2026 —
- CRAFTSMAN: Sep 2021 −2.2 pp | Dec 2021 −5.9 pp | Mar 2022 −4.5 pp | Jun 2022 −0.4 pp | Sep 2022 −3.0 pp | Dec 2022 −2.1 pp | Mar 2023 −4.6 pp | Jun 2023 −3.3 pp | Sep 2023 −2.2 pp | Dec 2023 −2.0 pp | Mar 2024 0.0 pp | Jun 2024 −4.0 pp | Sep 2024 −4.0 pp | Dec 2024 −6.0 pp | Mar 2025 −5.0 pp | Jun 2025 −2.0 pp | Sep 2025 −1.0 pp | Dec 2025 +2.0 pp | Mar 2026 +2.0 pp | Jun 2026 —
- JAMNAAUTO: Sep 2021 +3.7 pp | Dec 2021 −1.4 pp | Mar 2022 −1.0 pp | Jun 2022 −1.0 pp | Sep 2022 −2.6 pp | Dec 2022 −2.4 pp | Mar 2023 −0.9 pp | Jun 2023 +2.0 pp | Sep 2023 +3.0 pp | Dec 2023 +3.0 pp | Mar 2024 +1.0 pp | Jun 2024 0.0 pp | Sep 2024 0.0 pp | Dec 2024 0.0 pp | Mar 2025 −1.0 pp | Jun 2025 0.0 pp | Sep 2025 0.0 pp | Dec 2025 +3.0 pp | Mar 2026 +3.0 pp | Jun 2026 —
- AUTOAXLES: Sep 2021 +1.6 pp | Dec 2021 −0.0 pp | Mar 2022 +0.7 pp | Jun 2022 +4.2 pp | Sep 2022 +3.5 pp | Dec 2022 +2.7 pp | Mar 2023 −0.2 pp | Jun 2023 +0.7 pp | Sep 2023 +0.4 pp | Dec 2023 −1.0 pp | Mar 2024 0.0 pp | Jun 2024 −1.0 pp | Sep 2024 −1.0 pp | Dec 2024 0.0 pp | Mar 2025 0.0 pp | Jun 2025 0.0 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 +1.0 pp | Jun 2026 —
- GNA: Sep 2021 −4.5 pp | Dec 2021 −4.7 pp | Mar 2022 −2.4 pp | Jun 2022 −3.1 pp | Sep 2022 +0.1 pp | Dec 2022 +3.2 pp | Mar 2023 +1.8 pp | Jun 2023 +2.5 pp | Sep 2023 −0.3 pp | Dec 2023 −3.0 pp | Mar 2024 −5.0 pp | Jun 2024 −2.0 pp | Sep 2024 0.0 pp | Dec 2024 +1.0 pp | Mar 2025 +3.0 pp | Jun 2025 +1.0 pp | Sep 2025 +4.0 pp | Dec 2025 +4.0 pp | Mar 2026 +1.0 pp | Jun 2026 0.0 pp

## Profit Scale & Acceleration

What the numbers say: Ashok Leyland Ltd leads with ₹3,721 crore of TTM profit, 22.9% above Tata Motors Ltd. Craftsman Automation Ltd shows 91% growth from a ₹384 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Ashok Leyland Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Ashok Leyland Ltd · ₹3,721 crore | 22.9% versus #2 · Tata Motors Ltd | 7/8 recent comparable periods | 7/7 companies · 107 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Ashok Leyland Ltd (ASHOKLEY): ₹3.7K Cr
2. Tata Motors Ltd (TMCV): ₹3.0K Cr
3. Craftsman Automation Ltd (CRAFTSMAN): ₹384 Cr
4. Jamna Auto Industries Ltd (JAMNAAUTO): ₹231 Cr
5. Automotive Axles Ltd (AUTOAXLES): ₹165 Cr

### Profit growth — fastest growers
1. Craftsman Automation Ltd (CRAFTSMAN): 91%
2. GNA Axles Ltd (GNA): 29%
3. Jamna Auto Industries Ltd (JAMNAAUTO): 28%
4. Ashok Leyland Ltd (ASHOKLEY): 10.0%
5. Automotive Axles Ltd (AUTOAXLES): 5.8%

### 20-quarter Net profit history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 ₹498 Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹-867 Cr | Dec 2025 ₹705 Cr | Mar 2026 ₹1.8K Cr | Jun 2026 —
- ASHOKLEY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹199 Cr | Dec 2022 ₹351 Cr | Mar 2023 ₹803 Cr | Jun 2023 ₹584 Cr | Sep 2023 ₹569 Cr | Dec 2023 ₹609 Cr | Mar 2024 ₹934 Cr | Jun 2024 ₹551 Cr | Sep 2024 ₹767 Cr | Dec 2024 ₹820 Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹658 Cr | Sep 2025 ₹820 Cr | Dec 2025 ₹862 Cr | Mar 2026 ₹1.4K Cr | Jun 2026 —
- CRAFTSMAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹52 Cr | Mar 2023 ₹80 Cr | Jun 2023 ₹81 Cr | Sep 2023 ₹104 Cr | Dec 2023 ₹81 Cr | Mar 2024 ₹71 Cr | Jun 2024 ₹59 Cr | Sep 2024 ₹62 Cr | Dec 2024 ₹13 Cr | Mar 2025 ₹67 Cr | Jun 2025 ₹70 Cr | Sep 2025 ₹91 Cr | Dec 2025 ₹107 Cr | Mar 2026 ₹116 Cr | Jun 2026 —
- JAMNAAUTO: Sep 2021 ₹27 Cr | Dec 2021 ₹37 Cr | Mar 2022 ₹57 Cr | Jun 2022 ₹37 Cr | Sep 2022 ₹37 Cr | Dec 2022 ₹41 Cr | Mar 2023 ₹52 Cr | Jun 2023 ₹46 Cr | Sep 2023 ₹50 Cr | Dec 2023 ₹55 Cr | Mar 2024 ₹55 Cr | Jun 2024 ₹46 Cr | Sep 2024 ₹40 Cr | Dec 2024 ₹44 Cr | Mar 2025 ₹50 Cr | Jun 2025 ₹46 Cr | Sep 2025 ₹40 Cr | Dec 2025 ₹58 Cr | Mar 2026 ₹87 Cr | Jun 2026 —
- AUTOAXLES: Sep 2021 ₹10 Cr | Dec 2021 ₹20 Cr | Mar 2022 ₹39 Cr | Jun 2022 ₹30 Cr | Sep 2022 ₹30 Cr | Dec 2022 ₹51 Cr | Mar 2023 ₹51 Cr | Jun 2023 ₹38 Cr | Sep 2023 ₹45 Cr | Dec 2023 ₹39 Cr | Mar 2024 ₹44 Cr | Jun 2024 ₹34 Cr | Sep 2024 ₹36 Cr | Dec 2024 ₹40 Cr | Mar 2025 ₹46 Cr | Jun 2025 ₹36 Cr | Sep 2025 ₹36 Cr | Dec 2025 ₹39 Cr | Mar 2026 ₹54 Cr | Jun 2026 —
- GNA: Sep 2021 ₹25 Cr | Dec 2021 ₹17 Cr | Mar 2022 ₹18 Cr | Jun 2022 ₹27 Cr | Sep 2022 ₹33 Cr | Dec 2022 ₹36 Cr | Mar 2023 ₹34 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹28 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹17 Cr | Jun 2024 ₹28 Cr | Sep 2024 ₹29 Cr | Dec 2024 ₹25 Cr | Mar 2025 ₹25 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹31 Cr | Dec 2025 ₹32 Cr | Mar 2026 ₹31 Cr | Jun 2026 ₹38 Cr
- PREMIER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-3 Cr | Mar 2023 ₹-3 Cr | Jun 2023 ₹-3 Cr | Sep 2023 ₹-3 Cr | Dec 2023 ₹-3 Cr | Mar 2024 ₹-2 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹-2 Cr | Mar 2025 ₹-2 Cr | Jun 2025 ₹-2 Cr | Sep 2025 ₹-0 Cr | Dec 2025 ₹-2 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Profit growth history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 -274% | Dec 2025 -48% | Mar 2026 34% | Jun 2026 —
- ASHOKLEY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 186% | Dec 2023 74% | Mar 2024 16% | Jun 2024 -5.7% | Sep 2024 35% | Dec 2024 35% | Mar 2025 33% | Jun 2025 19% | Sep 2025 6.9% | Dec 2025 5.1% | Mar 2026 11% | Jun 2026 —
- CRAFTSMAN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 56% | Mar 2024 -11% | Jun 2024 -27% | Sep 2024 -40% | Dec 2024 -84% | Mar 2025 -5.6% | Jun 2025 19% | Sep 2025 47% | Dec 2025 723% | Mar 2026 73% | Jun 2026 —
- JAMNAAUTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 95% | Sep 2022 37% | Dec 2022 11% | Mar 2023 -8.8% | Jun 2023 24% | Sep 2023 35% | Dec 2023 34% | Mar 2024 5.8% | Jun 2024 0.0% | Sep 2024 -20% | Dec 2024 -20% | Mar 2025 -9.1% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 32% | Mar 2026 74% | Jun 2026 —
- AUTOAXLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 400% | Sep 2022 200% | Dec 2022 155% | Mar 2023 31% | Jun 2023 27% | Sep 2023 50% | Dec 2023 -24% | Mar 2024 -14% | Jun 2024 -11% | Sep 2024 -20% | Dec 2024 2.6% | Mar 2025 4.6% | Jun 2025 5.9% | Sep 2025 0.0% | Dec 2025 -2.5% | Mar 2026 17% | Jun 2026 —
- GNA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -6.9% | Sep 2022 32% | Dec 2022 112% | Mar 2023 89% | Jun 2023 22% | Sep 2023 -15% | Dec 2023 -39% | Mar 2024 -50% | Jun 2024 -15% | Sep 2024 3.6% | Dec 2024 14% | Mar 2025 47% | Jun 2025 -18% | Sep 2025 6.9% | Dec 2025 28% | Mar 2026 24% | Jun 2026 65%

## Capacity Spending & Returns On It

What the numbers say: There is not enough comparable evidence to name a reliable capex leader.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: No comparable leader | Not enough peers | Not enough history | 0/7 companies · 0 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders

### CAPEX intensity — highest reinvestment intensity

### 20-quarter CAPEX history

### 20-quarter CAPEX intensity history

## Debt Load & Balance-Sheet Headroom

What the numbers say: Automotive Axles Ltd has the clearest covered balance-sheet capacity with ₹385 crore net cash and gross debt of ₹14 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Jamna Auto Industries Ltd · ₹12 crore | 14.3% versus #2 · Automotive Axles Ltd | 0/8 recent comparable periods | 7/7 companies · 76 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Jamna Auto Industries Ltd (JAMNAAUTO): ₹12 Cr
2. Automotive Axles Ltd (AUTOAXLES): ₹14 Cr
3. Premier Ltd (PREMIER): ₹176 Cr — older report
4. GNA Axles Ltd (GNA): ₹218 Cr
5. Craftsman Automation Ltd (CRAFTSMAN): ₹3.6K Cr

### Net debt — lowest net debt
1. Automotive Axles Ltd (AUTOAXLES): ₹-385 Cr
2. Jamna Auto Industries Ltd (JAMNAAUTO): ₹41 Cr
3. GNA Axles Ltd (GNA): ₹180 Cr

### 20-quarter Gross debt history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹9.9K Cr | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 ₹5.6K Cr | Jun 2026 —
- ASHOKLEY: Sep 2021 — | Dec 2021 — | Mar 2022 ₹24.1K Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹31.2K Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹40.8K Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹50.0K Cr | Jun 2025 — | Sep 2025 ₹54.5K Cr | Dec 2025 — | Mar 2026 ₹63.9K Cr | Jun 2026 —
- CRAFTSMAN: Sep 2021 — | Dec 2021 — | Mar 2022 ₹800 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹1.2K Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹1.8K Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹2.4K Cr | Jun 2025 — | Sep 2025 ₹3.3K Cr | Dec 2025 — | Mar 2026 ₹3.6K Cr | Jun 2026 —
- JAMNAAUTO: Sep 2021 ₹11 Cr | Dec 2021 ₹11 Cr | Mar 2022 ₹191 Cr | Jun 2022 ₹191 Cr | Sep 2022 ₹133 Cr | Dec 2022 ₹133 Cr | Mar 2023 ₹30 Cr | Jun 2023 ₹30 Cr | Sep 2023 ₹69 Cr | Dec 2023 ₹69 Cr | Mar 2024 ₹293 Cr | Jun 2024 ₹293 Cr | Sep 2024 ₹219 Cr | Dec 2024 ₹219 Cr | Mar 2025 ₹358 Cr | Jun 2025 ₹358 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹151 Cr | Mar 2026 ₹12 Cr | Jun 2026 —
- AUTOAXLES: Sep 2021 ₹26 Cr | Dec 2021 ₹26 Cr | Mar 2022 ₹23 Cr | Jun 2022 ₹23 Cr | Sep 2022 ₹31 Cr | Dec 2022 ₹31 Cr | Mar 2023 ₹28 Cr | Jun 2023 ₹31 Cr | Sep 2023 ₹25 Cr | Dec 2023 ₹25 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹22 Cr | Sep 2024 ₹27 Cr | Dec 2024 ₹27 Cr | Mar 2025 ₹16 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹15 Cr | Dec 2025 ₹15 Cr | Mar 2026 ₹14 Cr | Jun 2026 —
- GNA: Sep 2021 ₹233 Cr | Dec 2021 ₹233 Cr | Mar 2022 ₹222 Cr | Jun 2022 ₹222 Cr | Sep 2022 ₹210 Cr | Dec 2022 ₹210 Cr | Mar 2023 ₹203 Cr | Jun 2023 ₹203 Cr | Sep 2023 ₹216 Cr | Dec 2023 ₹216 Cr | Mar 2024 ₹213 Cr | Jun 2024 ₹213 Cr | Sep 2024 ₹253 Cr | Dec 2024 ₹253 Cr | Mar 2025 ₹259 Cr | Jun 2025 ₹259 Cr | Sep 2025 ₹203 Cr | Dec 2025 ₹228 Cr | Mar 2026 ₹218 Cr | Jun 2026 —
- PREMIER: Sep 2021 — | Dec 2021 — | Mar 2022 ₹181 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹180 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹178 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹177 Cr | Jun 2025 — | Sep 2025 ₹176 Cr | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter Net debt history
- JAMNAAUTO: Sep 2021 ₹-70 Cr | Dec 2021 ₹-70 Cr | Mar 2022 ₹168 Cr | Jun 2022 ₹168 Cr | Sep 2022 ₹116 Cr | Dec 2022 ₹116 Cr | Mar 2023 ₹52 Cr | Jun 2023 ₹-22 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹219 Cr | Jun 2024 ₹219 Cr | Sep 2024 ₹169 Cr | Dec 2024 ₹169 Cr | Mar 2025 ₹218 Cr | Jun 2025 ₹213 Cr | Sep 2025 ₹43 Cr | Dec 2025 ₹43 Cr | Mar 2026 ₹41 Cr | Jun 2026 —
- AUTOAXLES: Sep 2021 ₹-52 Cr | Dec 2021 ₹-52 Cr | Mar 2022 ₹-74 Cr | Jun 2022 ₹-74 Cr | Sep 2022 ₹-56 Cr | Dec 2022 ₹-56 Cr | Mar 2023 ₹-79 Cr | Jun 2023 ₹-79 Cr | Sep 2023 ₹-90 Cr | Dec 2023 ₹-90 Cr | Mar 2024 ₹-282 Cr | Jun 2024 ₹-282 Cr | Sep 2024 ₹-45 Cr | Dec 2024 ₹-45 Cr | Mar 2025 ₹-360 Cr | Jun 2025 ₹-360 Cr | Sep 2025 ₹-163 Cr | Dec 2025 ₹-163 Cr | Mar 2026 ₹-385 Cr | Jun 2026 —
- GNA: Sep 2021 ₹202 Cr | Dec 2021 ₹202 Cr | Mar 2022 ₹217 Cr | Jun 2022 ₹217 Cr | Sep 2022 ₹173 Cr | Dec 2022 ₹173 Cr | Mar 2023 ₹176 Cr | Jun 2023 ₹176 Cr | Sep 2023 ₹171 Cr | Dec 2023 ₹171 Cr | Mar 2024 ₹180 Cr | Jun 2024 ₹180 Cr | Sep 2024 ₹213 Cr | Dec 2024 ₹213 Cr | Mar 2025 ₹227 Cr | Jun 2025 ₹227 Cr | Sep 2025 ₹171 Cr | Dec 2025 ₹171 Cr | Mar 2026 ₹180 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Tata Motors Ltd leads ROCE at 35.9%, 8.4 percentage points above Jamna Auto Industries Ltd. Premier Ltd has the strongest latest improvement at +56.4 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Tata Motors Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Tata Motors Ltd · 35.9% | 30.5% versus #2 · Jamna Auto Industries Ltd | Not enough history | 7/7 companies · 46 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Tata Motors Ltd (TMCV): 36%
2. Jamna Auto Industries Ltd (JAMNAAUTO): 28%
3. Automotive Axles Ltd (AUTOAXLES): 22%
4. GNA Axles Ltd (GNA): 14%
5. Craftsman Automation Ltd (CRAFTSMAN): 14%

### ROCE change — fastest improvers
1. Premier Ltd (PREMIER): +56.4 pp — older report
2. Jamna Auto Industries Ltd (JAMNAAUTO): +3.2 pp
3. Craftsman Automation Ltd (CRAFTSMAN): +2.0 pp
4. Ashok Leyland Ltd (ASHOKLEY): 0.0 pp
5. Automotive Axles Ltd (AUTOAXLES): −0.7 pp

### 20-quarter ROCE history
- JAMNAAUTO: Sep 2021 26% | Dec 2021 — | Mar 2022 26% | Jun 2022 — | Sep 2022 30% | Dec 2022 — | Mar 2023 28% | Jun 2023 32% | Sep 2023 29% | Dec 2023 34% | Mar 2024 30% | Jun 2024 33% | Sep 2024 28% | Dec 2024 29% | Mar 2025 25% | Jun 2025 26% | Sep 2025 24% | Dec 2025 28% | Mar 2026 28% | Jun 2026 —
- AUTOAXLES: Sep 2021 12% | Dec 2021 — | Mar 2022 15% | Jun 2022 — | Sep 2022 23% | Dec 2022 — | Mar 2023 28% | Jun 2023 — | Sep 2023 29% | Dec 2023 31% | Mar 2024 23% | Jun 2024 26% | Sep 2024 20% | Dec 2024 24% | Mar 2025 19% | Jun 2025 23% | Sep 2025 18% | Dec 2025 22% | Mar 2026 18% | Jun 2026 —
- GNA: Sep 2021 24% | Dec 2021 — | Mar 2022 20% | Jun 2022 — | Sep 2022 19% | Dec 2022 — | Mar 2023 25% | Jun 2023 — | Sep 2023 23% | Dec 2023 23% | Mar 2024 18% | Jun 2024 18% | Sep 2024 15% | Dec 2024 17% | Mar 2025 15% | Jun 2025 17% | Sep 2025 14% | Dec 2025 17% | Mar 2026 14% | Jun 2026 —

### 20-quarter ROCE change history
- JAMNAAUTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +4.3 pp | Dec 2022 — | Mar 2023 +1.6 pp | Jun 2023 — | Sep 2023 −0.8 pp | Dec 2023 — | Mar 2024 +2.7 pp | Jun 2024 +1.3 pp | Sep 2024 −1.1 pp | Dec 2024 −5.4 pp | Mar 2025 −5.3 pp | Jun 2025 −6.6 pp | Sep 2025 −4.0 pp | Dec 2025 −0.8 pp | Mar 2026 +3.2 pp | Jun 2026 —
- AUTOAXLES: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +10.5 pp | Dec 2022 — | Mar 2023 +12.3 pp | Jun 2023 — | Sep 2023 +6.5 pp | Dec 2023 — | Mar 2024 −4.1 pp | Jun 2024 — | Sep 2024 −9.2 pp | Dec 2024 −7.1 pp | Mar 2025 −4.7 pp | Jun 2025 −3.7 pp | Sep 2025 −2.5 pp | Dec 2025 −2.6 pp | Mar 2026 −0.7 pp | Jun 2026 —
- GNA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −4.8 pp | Dec 2022 — | Mar 2023 +4.8 pp | Jun 2023 — | Sep 2023 +3.6 pp | Dec 2023 — | Mar 2024 −6.9 pp | Jun 2024 — | Sep 2024 −7.6 pp | Dec 2024 −5.8 pp | Mar 2025 −3.0 pp | Jun 2025 −1.1 pp | Sep 2025 −1.6 pp | Dec 2025 +0.3 pp | Mar 2026 −0.9 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Jamna Auto Industries Ltd has the lowest comparable Guarded PEG at 0.86×, 49.4% below GNA Axles Ltd. Only 3 of 7 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Jamna Auto Industries Ltd · 0.86× | 49.4% versus #2 · GNA Axles Ltd | 0/8 recent comparable periods | 3/7 companies · 22 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. Jamna Auto Industries Ltd (JAMNAAUTO): 0.9
2. GNA Axles Ltd (GNA): 1.7
3. Automotive Axles Ltd (AUTOAXLES): 2.0

### P/E — lowest P/E
1. Automotive Axles Ltd (AUTOAXLES): 16.1
2. GNA Axles Ltd (GNA): 16.5
3. Jamna Auto Industries Ltd (JAMNAAUTO): 22.2
4. Ashok Leyland Ltd (ASHOKLEY): 24.4
5. Tata Motors Ltd (TMCV): 37.8

### 20-quarter Guarded PEG history
- JAMNAAUTO: Sep 2021 — | Dec 2021 — | Mar 2022 1.6 | Jun 2022 — | Sep 2022 0.6 | Dec 2022 0.7 | Mar 2023 — | Jun 2023 1.2 | Sep 2023 4.4 | Dec 2023 2.0 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 0.9 | Mar 2026 — | Jun 2026 —
- AUTOAXLES: Sep 2021 — | Dec 2021 0.9 | Mar 2022 0.8 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.8 | Jun 2023 — | Sep 2023 0.4 | Dec 2023 0.3 | Mar 2024 1.0 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 2.0 | Jun 2026 —
- GNA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.9 | Jun 2023 0.6 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 1.4 | Mar 2025 0.3 | Jun 2025 — | Sep 2025 1.4 | Dec 2025 0.5 | Mar 2026 0.7 | Jun 2026 1.7

### 20-quarter P/E history
- ASHOKLEY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 55.2 | Jun 2023 41.2 | Sep 2023 30.0 | Dec 2023 25.1 | Mar 2024 21.3 | Jun 2024 28.1 | Sep 2024 28.2 | Dec 2024 25.1 | Mar 2025 21.5 | Jun 2025 23.7 | Sep 2025 26.1 | Dec 2025 30.7 | Mar 2026 26.6 | Jun 2026 —
- CRAFTSMAN: Sep 2021 46.1 | Dec 2021 28.6 | Mar 2022 27.9 | Jun 2022 28.6 | Sep 2022 29.9 | Dec 2022 35.5 | Mar 2023 31.0 | Jun 2023 34.3 | Sep 2023 36.8 | Dec 2023 38.3 | Mar 2024 28.5 | Jun 2024 38.5 | Sep 2024 48.8 | Dec 2024 48.2 | Mar 2025 57.0 | Jun 2025 61.7 | Sep 2025 70.0 | Dec 2025 67.6 | Mar 2026 47.0 | Jun 2026 —
- JAMNAAUTO: Sep 2021 34.3 | Dec 2021 33.2 | Mar 2022 30.1 | Jun 2022 31.4 | Sep 2022 28.6 | Dec 2022 24.7 | Mar 2023 23.0 | Jun 2023 24.2 | Sep 2023 26.4 | Dec 2023 23.5 | Mar 2024 26.0 | Jun 2024 24.0 | Sep 2024 23.4 | Dec 2024 19.6 | Mar 2025 16.3 | Jun 2025 21.0 | Sep 2025 22.9 | Dec 2025 28.0 | Mar 2026 23.1 | Jun 2026 —
- AUTOAXLES: Sep 2021 36.0 | Dec 2021 42.8 | Mar 2022 37.8 | Jun 2022 32.0 | Sep 2022 29.7 | Dec 2022 25.1 | Mar 2023 23.8 | Jun 2023 20.7 | Sep 2023 19.7 | Dec 2023 17.6 | Mar 2024 15.4 | Jun 2024 18.2 | Sep 2024 17.8 | Dec 2024 17.8 | Mar 2025 15.8 | Jun 2025 17.7 | Sep 2025 16.8 | Dec 2025 17.4 | Mar 2026 14.5 | Jun 2026 —
- GNA: Sep 2021 18.4 | Dec 2021 14.4 | Mar 2022 11.1 | Jun 2022 12.6 | Sep 2022 15.9 | Dec 2022 15.1 | Mar 2023 14.8 | Jun 2023 13.1 | Sep 2023 14.9 | Dec 2023 14.6 | Mar 2024 13.9 | Jun 2024 16.9 | Sep 2024 20.1 | Dec 2024 18.3 | Mar 2025 14.9 | Jun 2025 13.2 | Sep 2025 13.1 | Dec 2025 12.9 | Mar 2026 14.6 | Jun 2026 16.1

## Enterprise Value & Book Value

What the numbers say: GNA Axles Ltd leads both ev/ebitda at 8.5× and p/bv at 2.17×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: GNA Axles Ltd · 8.5× | 8.6% versus #2 · Automotive Axles Ltd | 0/8 recent comparable periods | 7/7 companies · 98 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. GNA Axles Ltd (GNA): 8.5
2. Automotive Axles Ltd (AUTOAXLES): 9.3
3. Jamna Auto Industries Ltd (JAMNAAUTO): 13.0
4. Ashok Leyland Ltd (ASHOKLEY): 13.2
5. Tata Motors Ltd (TMCV): 14.7

### P/BV — lowest P/BV
1. GNA Axles Ltd (GNA): 2.2
2. Automotive Axles Ltd (AUTOAXLES): 2.5
3. Jamna Auto Industries Ltd (JAMNAAUTO): 4.6
4. Ashok Leyland Ltd (ASHOKLEY): 6.2
5. Craftsman Automation Ltd (CRAFTSMAN): 6.8

### 20-quarter EV/EBITDA history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | 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 14.7 | Jun 2026 —
- ASHOKLEY: Sep 2021 21.3 | Dec 2021 21.2 | Mar 2022 21.1 | Jun 2022 22.2 | Sep 2022 21.2 | Dec 2022 18.0 | Mar 2023 14.1 | Jun 2023 15.1 | Sep 2023 13.6 | Dec 2023 12.5 | Mar 2024 11.0 | Jun 2024 12.3 | Sep 2024 12.3 | Dec 2024 12.1 | Mar 2025 11.1 | Jun 2025 11.2 | Sep 2025 12.6 | Dec 2025 14.6 | Mar 2026 13.2 | Jun 2026 —
- CRAFTSMAN: Sep 2021 11.7 | Dec 2021 10.0 | Mar 2022 9.7 | Jun 2022 10.0 | Sep 2022 11.0 | Dec 2022 12.9 | Mar 2023 11.5 | Jun 2023 13.9 | Sep 2023 14.7 | Dec 2023 15.8 | Mar 2024 12.0 | Jun 2024 16.6 | Sep 2024 19.2 | Dec 2024 17.1 | Mar 2025 15.9 | Jun 2025 17.9 | Sep 2025 19.9 | Dec 2025 20.0 | Mar 2026 16.8 | Jun 2026 —
- JAMNAAUTO: Sep 2021 20.0 | Dec 2021 19.3 | Mar 2022 17.8 | Jun 2022 19.5 | Sep 2022 18.1 | Dec 2022 15.7 | Mar 2023 14.8 | Jun 2023 15.5 | Sep 2023 16.2 | Dec 2023 14.7 | Mar 2024 16.3 | Jun 2024 14.8 | Sep 2024 15.1 | Dec 2024 12.2 | Mar 2025 9.9 | Jun 2025 13.1 | Sep 2025 14.0 | Dec 2025 15.7 | Mar 2026 13.0 | Jun 2026 —
- AUTOAXLES: Sep 2021 17.8 | Dec 2021 20.7 | Mar 2022 18.9 | Jun 2022 16.8 | Sep 2022 16.5 | Dec 2022 14.4 | Mar 2023 14.3 | Jun 2023 12.6 | Sep 2023 12.3 | Dec 2023 11.1 | Mar 2024 9.7 | Jun 2024 11.5 | Sep 2024 11.0 | Dec 2024 11.2 | Mar 2025 9.9 | Jun 2025 10.9 | Sep 2025 10.5 | Dec 2025 11.0 | Mar 2026 9.3 | Jun 2026 —
- GNA: Sep 2021 11.0 | Dec 2021 8.6 | Mar 2022 6.6 | Jun 2022 7.2 | Sep 2022 8.8 | Dec 2022 8.6 | Mar 2023 8.9 | Jun 2023 8.2 | Sep 2023 9.1 | Dec 2023 8.6 | Mar 2024 8.0 | Jun 2024 9.4 | Sep 2024 10.7 | Dec 2024 10.1 | Mar 2025 8.3 | Jun 2025 7.6 | Sep 2025 7.5 | Dec 2025 6.9 | Mar 2026 7.6 | Jun 2026 8.5
- PREMIER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 510.4 | Mar 2026 — | Jun 2026 —

### 20-quarter P/BV history
- TMCV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | 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 14.2 | Jun 2026 —
- ASHOKLEY: Sep 2021 4.8 | Dec 2021 4.8 | Mar 2022 4.5 | Jun 2022 5.2 | Sep 2022 6.3 | Dec 2022 5.9 | Mar 2023 5.6 | Jun 2023 5.7 | Sep 2023 6.1 | Dec 2023 6.0 | Mar 2024 5.7 | Jun 2024 8.3 | Sep 2024 7.8 | Dec 2024 6.3 | Mar 2025 5.8 | Jun 2025 8.2 | Sep 2025 6.8 | Dec 2025 8.2 | Mar 2026 7.6 | Jun 2026 —
- CRAFTSMAN: Sep 2021 4.6 | Dec 2021 4.6 | Mar 2022 4.2 | Jun 2022 4.1 | Sep 2022 4.7 | Dec 2022 5.9 | Mar 2023 6.1 | Jun 2023 6.2 | Sep 2023 7.1 | Dec 2023 7.5 | Mar 2024 6.0 | Jun 2024 7.1 | Sep 2024 8.2 | Dec 2024 4.6 | Mar 2025 4.2 | Jun 2025 4.6 | Sep 2025 5.7 | Dec 2025 5.8 | Mar 2026 5.5 | Jun 2026 —
- JAMNAAUTO: Sep 2021 6.2 | Dec 2021 6.8 | Mar 2022 6.5 | Jun 2022 7.6 | Sep 2022 6.3 | Dec 2022 5.8 | Mar 2023 5.8 | Jun 2023 5.9 | Sep 2023 6.0 | Dec 2023 5.3 | Mar 2024 6.3 | Jun 2024 6.3 | Sep 2024 5.3 | Dec 2024 4.1 | Mar 2025 3.2 | Jun 2025 4.2 | Sep 2025 4.2 | Dec 2025 4.8 | Mar 2026 4.5 | Jun 2026 —
- AUTOAXLES: Sep 2021 3.3 | Dec 2021 4.2 | Mar 2022 4.2 | Jun 2022 4.3 | Sep 2022 4.5 | Dec 2022 4.5 | Mar 2023 5.8 | Jun 2023 5.4 | Sep 2023 4.4 | Dec 2023 4.1 | Mar 2024 3.4 | Jun 2024 4.0 | Sep 2024 3.3 | Dec 2024 3.0 | Mar 2025 2.7 | Jun 2025 3.1 | Sep 2025 2.7 | Dec 2025 2.7 | Mar 2026 2.4 | Jun 2026 —
- GNA: Sep 2021 3.8 | Dec 2021 2.8 | Mar 2022 1.9 | Jun 2022 2.2 | Sep 2022 2.1 | Dec 2022 2.2 | Mar 2023 2.8 | Jun 2023 2.9 | Sep 2023 2.8 | Dec 2023 2.5 | Mar 2024 2.1 | Jun 2024 2.3 | Sep 2024 2.4 | Dec 2024 2.1 | Mar 2025 1.7 | Jun 2025 1.6 | Sep 2025 1.5 | Dec 2025 1.4 | Mar 2026 1.7 | Jun 2026 1.9
- PREMIER: Sep 2021 -0.1 | Dec 2021 -0.1 | Mar 2022 -0.1 | Jun 2022 -0.1 | Sep 2022 0.0 | Dec 2022 0.0 | Mar 2023 0.0 | Jun 2023 0.0 | Sep 2023 0.0 | Dec 2023 0.0 | Mar 2024 0.0 | Jun 2024 0.0 | Sep 2024 0.0 | Dec 2024 0.0 | Mar 2025 0.0 | Jun 2025 0.0 | Sep 2025 0.0 | Dec 2025 0.0 | Mar 2026 — | Jun 2026 —

## Market action

GNA Axles Ltd has the strongest one-year price move in Auto & Auto Ancl - CV at +50.3%. It also leads on Mansfield relative strength against NIFTY at +39.5%. 4 of 6 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-24.

### Strongest one-year price performers
1. GNA Axles Ltd (GNA): 50%
2. Craftsman Automation Ltd (CRAFTSMAN): 45%
3. Jamna Auto Industries Ltd (JAMNAAUTO): 40%
4. Ashok Leyland Ltd (ASHOKLEY): 24%
5. Automotive Axles Ltd (AUTOAXLES): 0.0%

### Strongest relative strength versus NIFTY 500
1. GNA Axles Ltd (GNA): 39%
2. Craftsman Automation Ltd (CRAFTSMAN): 24%
3. Jamna Auto Industries Ltd (JAMNAAUTO): 13%
4. Automotive Axles Ltd (AUTOAXLES): 1.2%
5. Ashok Leyland Ltd (ASHOKLEY): -4.7%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 3 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Capital expenditure have fewer than three usable current readings.

## Every company
- Tata Motors Ltd (TMCV) — market value ₹1.5 L Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Ashok Leyland Ltd (ASHOKLEY) — market value ₹88.7K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Craftsman Automation Ltd (CRAFTSMAN) — market value ₹24.3K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Jamna Auto Industries Ltd (JAMNAAUTO) — market value ₹5.3K Cr; latest fundamentals Mar 2026
- Automotive Axles Ltd (AUTOAXLES) — market value ₹2.7K Cr; latest fundamentals Mar 2026
- GNA Axles Ltd (GNA) — market value ₹2.2K Cr; latest fundamentals Jun 2026
- Premier Ltd (PREMIER) — market value ₹8 Cr; latest fundamentals Dec 2025

## Source standing of each company

Cross-checked: 3. Unverified: 1. Withheld: 3. Graded companies: 7.

3 of 7 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Tata Motors Ltd (TMCV) — its two data sources disagree by up to 86% on reported income across 7 comparable periods, so its derived ratios are withheld; Ashok Leyland Ltd (ASHOKLEY) — its two data sources disagree by up to 17% on reported income across 15 comparable periods, so its derived ratios are withheld; Craftsman Automation Ltd (CRAFTSMAN) — its two data sources disagree by up to 12% on reported income across 14 comparable periods, so its derived ratios are withheld.

- WITHHELD | TMCV | Tata Motors Ltd | diff_gt_2pct | disagreement up to 85.96% over 7 comparable periods
- WITHHELD | ASHOKLEY | Ashok Leyland Ltd | diff_gt_2pct | disagreement up to 17.38% over 15 comparable periods
- WITHHELD | CRAFTSMAN | Craftsman Automation Ltd | diff_gt_2pct | disagreement up to 11.51% over 14 comparable periods

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-24.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### What is the Nifty Auto & Auto Ancl - CV index?

The Nifty Auto & Auto Ancl - CV index tracks India's listed Auto & Auto Ancl - CV companies as a single basket. This page follows the same 7 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Auto & Auto Ancl - CV sector rather than to its largest constituent. Figures are as of Jun 2026.

### Which are the best Auto & Auto Ancl - CV stocks in India?

Ranked by this page's four-factor score, Jamna Auto Industries Ltd places first among 7 listed Auto & Auto Ancl - CV companies, followed by Craftsman Automation Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Auto & Auto Ancl - CV stocks are listed in India?

This comparison covers 7 listed Auto & Auto Ancl - CV companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Auto & Auto Ancl - CV company is the biggest?

Tata Motors Ltd is the largest, with trailing-twelve-month revenue of ₹83,854 crore, ahead of Ashok Leyland Ltd at ₹56,362 crore. That covers 7 of 7 companies with comparable reporting through Mar 2026.

### Which Auto & Auto Ancl - CV company is growing fastest?

Craftsman Automation Ltd has the fastest revenue growth at 41.8% year on year, across 5 of 7 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Auto & Auto Ancl - CV company has the best profit margins?

Ashok Leyland Ltd has the highest operating margin at 19%, from 6 of 7 comparable companies. Jamna Auto Industries Ltd shows the biggest recent improvement, at +3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Auto & Auto Ancl - CV company makes the most profit?

Ashok Leyland Ltd earns the most, at ₹3,721 crore of trailing-twelve-month net profit, from 7 of 7 comparable companies. Craftsman Automation Ltd has the fastest profit growth at 91%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Auto & Auto Ancl - CV company earns the highest return on capital?

Tata Motors Ltd leads on return on capital employed at 35.9%, across 7 of 7 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Auto & Auto Ancl - CV stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Jamna Auto Industries Ltd screens cheapest at 0.86×. Only 3 of 7 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Auto & Auto Ancl - CV company has the strongest balance sheet?

Jamna Auto Industries Ltd carries the lowest comparable gross debt at ₹12 crore, from 7 of 7 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Is the Auto & Auto Ancl - CV sector beating the market?

Auto & Auto Ancl - CV has outperformed NIFTY 500 by 28.9% over the last 52 weeks and 5% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 4 of 6 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Auto & Auto Ancl - CV stock has the strongest price momentum?

GNA Axles Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Auto & Auto Ancl - CV company scores highest for research priority?

Jamna Auto Industries Ltd scores 72.5 out of 100 with 95.6% evidence confidence, from 25.7 points on growth and earnings, 20.6 on capital efficiency, 15.8 on valuation and 10.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Auto & Auto Ancl - CV companies does this comparison cover, and over what period?

It compares 7 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Auto & Auto Ancl - CV sector?

The 7 Auto & Auto Ancl - CV companies on this page carry ₹2,72,801 crore of combined market value. Tata Motors Ltd is the largest at ₹1,49,573 crore, about 55% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

### What is the Auto & Auto Ancl - CV sector's P/E ratio?

The median price-to-earnings ratio across the 7 Auto & Auto Ancl - CV companies on this page is 24.4×, measured on the 6 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

### How is the Auto & Auto Ancl - CV sector performing?

4 of the 6 covered Auto & Auto Ancl - CV companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 28.9% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-29.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/auto-auto-ancl-cv