ASK Automotive is engaged in the business of manufacturing auto components and is the largest manufacturer of brake-shoe and advanced braking (AB) systems for two-wheelers in India. Founded in 1988 by Kuldip Singh Rathee and based in Gurugram, India, the company operates as a manufacturer and supplier of braking systems and safety control cables. With over three decades of experience in the automotive industry, ASK Automotive has established itself as a dominant player in the Indian two-wheeler components market.
The company had a market share of 50% in FY24 in terms of production volume for OEMs and the branded independent aftermarket (IAM). ASK Automotive specializes in advanced braking systems, aluminum lightweighting, and safety control cables, primarily serving the two-wheeler market in India with over 35 years of experience. The company is the largest manufacturer of brake shoes and advanced braking systems for two-wheelers in India and has diversified its operations to offer products under advanced braking systems, aluminum light weighting precision solutions, and safety control cables business segments.
ASK Automotive operates through three primary business verticals that cater to the evolving needs of the automotive industry. The company is engaged in the business of manufacturing of auto components including advanced braking systems, aluminum light weighting precision solutions, and safety control cables primarily for the automobile industry.
- Advanced Braking Systems: This segment forms the core of ASK Automotive's business operations. Its products include brake panel assemblies, brake shoes, and disc brake pads. It also produces choke, brake, clutch, throttle, speedometer, fuel, and seat lock cables. The company offers a range of products including brake shoes, disc brake pads, and control cables for motorcycles, scooters, and commercial vehicles.
- Aluminum Lightweighting Precision Solutions: This segment represents the company's strategic move towards modern automotive technologies, focusing on developing lightweight components that enhance vehicle performance and fuel efficiency. The company will manufacture high-pressure die-casted alloy wheels for two-wheelers, with KYSK offering technical expertise and knowledge sharing under the agreement, aiming to develop and manufacture high-quality alloy wheels that ensure safety, align with world-class standards, and deliver products of superior performance. The products to be manufactured under the agreement will be supplied to the identified Japanese customer.
- Safety Control Cables: This business segment produces critical components that ensure vehicle safety and operational efficiency.
ASK Automotive Ltd has a market capitalization of ₹8,648 Crore. However, according to more recent data, the market cap is ₹10,498 Crore. The company has demonstrated strong financial performance with consistent growth across key metrics.
- Q4 FY25 Net Profit: Rose 20.62% to ₹57.61 Crore in the quarter ended March 2025, as against ₹47.76 Crore during the previous quarter ended March 2024.
- Q4 FY25 Revenue: Up 8.6% to ₹849.7 Crore.
- EBITDA: Surged 25.9%.
- FY25 Total Income: Rose 20% to ₹3,613 Crore, driven by growth across all business segments.
The company's annual financial performance shows a robust growth trajectory. Ask Automotive Ltd has an operating revenue of ₹3,600.83 Crore on a trailing 12-month basis with an annual revenue growth of 20%, Pre-tax margin of 9%, and ROE of 23%. On a consolidated basis, ASK Automotive Ltd reported a profit of ₹65.89 Crore on a total income of ₹920.41 Crore for the quarter ended 2024. For the year ended 2024, ASK Automotive Ltd had posted a profit of ₹173.77 Crore on a total income of ₹2,994.55 Crore.
ASK Automotive has been actively pursuing strategic partnerships and expansion initiatives to strengthen its market position. ASK Automotive forms JV with TDH Germany for sunroof cable manufacturing, with ASK holding 49% and TDH 51%. The Board approved the JV with TDH with a ₹2.45 Crore investment for sunroof control cables manufacturing. This partnership demonstrates the company's commitment to diversifying its product portfolio and entering new automotive segments.
The company has also strengthened its leadership team with key appointments. ASK Automotive Limited has appointed Prashant Kumar Gupta as President and Chief Marketing Officer. With over 33 years of experience, Gupta will enhance the company's marketing and business development strategies.
The company is poised for growth, reporting a 9% increase in revenue and an impressive 16% adjusted growth, driven by new wheel assembly operations. With a strategic focus on enhancing EBITDA margins to 14% by FY26 through operational efficiencies, significant investments of ₹450 Crore are planned to expand production capabilities, particularly in the alloy wheel segment.
While challenges persist in forecasting aftermarket potential and navigating a competitive landscape, the company remains optimistic about the two-wheeler market, projecting a 6% to 8% growth amid favorable economic conditions. Additionally, ongoing improvements in financial health, including a reduced debt-to-equity ratio and increased Return on Capital Employed, reflect a stable foundation for future expansion, particularly in the burgeoning electric vehicle sector.
ASK Automotive has fixed July 18, 2025, as the record date for determining entitlement of Members to final dividend of ₹1.50 per share for the Financial Year ended March 31, 2025. The dividend, if approved, shall be paid on or before August 30, 2025. The Board of Directors at its meeting held on May 13, 2025, have recommended the final dividend of ₹1.5 per equity Share (i.e., 75%), subject to the approval of the shareholders.
Promoter holding in ASK Automotive Ltd has gone down to 78.95% as of March 2025 from 85.00% as of June 2024. The stock has shown strong performance with ASK Automotive Ltd share price moved up by 49.21% on BSE over the last 12 months. The ASK Automotive Ltd's 52-week high share price is ₹508.95 and 52-week low share price is ₹285.25.
