ASK Automotive Ltd(ASKAUTOLTD)

NSE: ASKAUTOLTDBSE: 544022

₹ 555.6+1.43%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 10,953 crNext results: 3 Nov 2026Website: www.askbrake.comUpdated: 24 Oct 2026

About

ASK Automotive Ltd is an Indian two-wheeler auto components supplier with three product segments: Advanced Braking Systems (ABS), Aluminium Lightweighting Precision Solutions (ALPS), and Safety Control Cables (SCC). It operates 18 manufacturing plants across India and has recently begun supplying high-pressure die cast alloy wheels to a Japanese OEM customer from its Karoli facility.^[1][2][3]

Business segments

ALPS (Aluminium Lightweighting Precision Solutions) generated Rs. 784 Cr in Q1 FY27 (+75% YoY), the largest and fastest-growing segment, covering aluminium die-cast components for 2W and passenger vehicles.^[3]
ABS (Advanced Braking Systems) generated Rs. 482 Cr in Q1 FY27 (+48% YoY), covering brake assemblies for two-wheelers.^[3]
SCC (Safety Control Cables) generated Rs. 39 Cr in Q1 FY27 (+20% YoY), the smallest segment by revenue.^[3]
Wheel assembly business was exited completely effective 1 April 2026; revenues are nil from Q1 FY27 onwards following a strategic closure of the low-margin segment.^[3][2]

Key operating numbers

Consolidated revenue reached Rs. 1,358 Cr in Q1 FY27 (+52.1% YoY reported; +25.3% net of aluminium pass-through and wheel assembly exit), outpacing 2W industry production growth of 22.8%.^[3]
2W-EV revenue mix was 5.7% in Q1 FY27, up from 5.1% in Q1 FY26; new orders in ALPS cover both ICE and EV platforms.^[3]
Independent aftermarket (IAM) channel mix was 7.0% of revenue in Q1 FY27, down from 9.6% in Q1 FY26, though IAM grew 24.7% in FY26 benefiting from GST reduction from 28% to 18%.^[3][2]
Export revenue was Rs. 39 Cr in Q1 FY27 vs. Rs. 33 Cr in Q1 FY26; full-year FY26 exports were Rs. 141 Cr, below FY25's Rs. 147 Cr, as trade disruptions and tariff headwinds caused targets to be missed.^[3][2]
Full-year FY26 consolidated revenue grew 16.2% to Rs. 4,196 Cr; net of wheel assembly and aluminium pass-through, underlying growth was 20.1%, against 2W industry production growth of 11.8%.^[2]

Operations and capacity

The company operates 18 plants; the 18th plant (third in Bengaluru) opened January 2025 and reached approximately 90% capacity utilisation by Q4 FY26.^[2]
Karoli plant utilisation rose to approximately 75% in Q1 FY27 (up from 60 - 65% in Q4 FY26), with monthly revenue touching Rs. 110 Cr vs. Rs. 60 Cr previously; management targets ~80% utilisation by Q4 FY27.^[3]
A 9.9 MWp captive solar plant at Sirsa was operationalised in April 2025; an 11.55 MWp captive solar plant at Bikaner, Rajasthan is targeted for commissioning in Q2 FY27.^[3][4]

Customers and distribution

The company supplies primarily to two-wheeler OEMs; one new unnamed customer (covering ICE and EV platforms, mainly ALPS) placed orders large enough to require an unplanned 19th plant.^[3]
Ford export supplies commenced with revenue of Rs. 39 Cr in Q1 FY27; management guides Rs. 40 - 45 Cr for FY27 and approximately Rs. 60 Cr for FY28.^[3]
AISIN-ASK aftermarket JV is operational; management expects it to reach some profitability by Q3 - Q4 FY27, with material revenue guidance to be provided in the Q4 FY27 call.^[3]

New products and joint ventures

HPDC alloy wheel program with Kyushu Yanagawa (Japan): technical collaboration implemented at Karoli; first commercial supply to the Japanese customer began in Q1 FY27, one quarter ahead of the H2 FY27 guidance.^[3]
Alloy wheel revenue from Karoli is guided at Rs. 70 - 90 Cr in FY27 (revised down from prior Rs. 90 - 100 Cr); confirmed orders for FY28 stand at Rs. 250 Cr (revised up from Rs. 220 Cr).^[3]
Sunroof cable JV with TD Holding Germany: plant audited by system suppliers; initial supplies targeted for H2 FY27 with a substantial ramp expected in FY28.^[3][2]

Expansion and capex

A 19th plant in South Bangalore is being set up on an expedited basis, required by unexpected new customer orders; targeted for operationalisation before March 2027.^[3]
FY27 capex revised sharply upward to approximately Rs. 700 Cr (from prior guidance of Rs. 450 - 500 Cr) to fund the new South plant and alloy wheel capacity ramp; to be funded via internal accruals and term loans.^[3]
Karoli plant is projected to generate Rs. 1,500 Cr annual turnover in FY28, up from a monthly run rate of Rs. 110 Cr reached in Q1 FY27.^[3]

Recent developments

Q1 FY27 (April - June 2026) was the 11th consecutive quarter of record revenue, EBITDA and PAT since listing; consolidated revenue grew 52.1% YoY to Rs. 1,358 Cr.^[3]
FY27 full-year revenue growth guidance was revised upward to high-teens from the prior mid-teens target following Q1 FY27 outperformance.^[3]
EBITDA margin compressed 176 bps YoY to 12.0% in Q1 FY27, attributed to the denominator effect of elevated aluminium prices via 100% pass-through; absolute EBITDA grew 32.7% to Rs. 164 Cr.^[3]
Management guides EBITDA margin recovery to 13.5 - 14% as aluminium prices normalise, contingent on the geopolitical situation; debt-equity ratio to remain below 0.5x despite higher capex.^[3]

Market Cap

₹10,953 Cr

High / Low

₹687 / 371

Stock P/E

36.7

Price / Book

8.8

Book Value

₹67

EPS

₹15.1

No. of Shares

19.71 Cr

ROCE

25.8%

ROE

25.3%

OPM

10.4%

Debt / Equity

0.50

Sales

₹4,176 Cr

Net Profit

₹297 Cr

Promoter holding

75.0%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials