Ashok Leyland`s Net Debt/Equity reached 225 % in 2019. This is 31.7 % more than in the previous year.
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| Company | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| Ashok Leyland | % | ... | ... | ... | ... | ... | ... | ... | 158 | 135 | 171 | 225 | ... | ... | ... | ||||||||
| Tata Motors | % | 47.0 | 40.9 | 105 | 130 | 143 |
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