Automotive Stampings & Assemblies Ltd (ASAL) is a subsidiary of Tata AutoComp Systems Ltd (TACO), operating under the umbrella of the Tata Group since 2010. Tata AutoComp Systems currently holds 75% stake in the company while the balance 25% is held by public shareholders. The company is engaged in the business of manufacturing sheet metal stampings, welded assemblies and modules for the automotive industry.
ASAL was originally incorporated as JBM Tools Limited on March 13, 1990, and was subsequently renamed to Automotive Stampings and Assemblies Limited on August 1, 2003. The company's shares are listed on both NSE and BSE.
ASAL's comprehensive product range includes body-in-white (BIW) structural panels, skin panels, fuel tanks, rear twist beam, oil sumps and suspension components. The company manufactures sheet metal components, welded assemblies and modules for passenger vehicles, commercial vehicles and tractors.
The company's skin parts of cars include side panel outer right hand (RH), side panel outer left hand (LH), assembly side wall outer, assembly front panel outer, front cabin shield, assembly front bumper and assembly outer tail gate. Its BIW components include assembly body side inner, assembly cabin rear wall, assembly fire wall, assembly panel dash, rail-under-body and cabin-floor.
ASAL employs advanced manufacturing technologies including stamping technology for high-tensile material processing with different grades on tonnage ranging from 250 T to 1500 T. The company incorporates MIG, TIG, Projection, laser welding, and friction stir welding (FSW) for high-strength and reliable assemblies. Additionally, it features CNC machining, laser cutting, automated assembly, and corrosion-resistant coatings for durability and performance.
ASAL operates four manufacturing facilities located at Bhosari (Maharashtra), Chakan (Maharashtra), Halol (Gujarat) and Pantnagar (Uttarakhand). The company has four large-sized manufacturing plants in Western India & Northern India with a total capability to supply nearly 30,000 tonnes of components and assemblies a year.
The company also has a presence at Tata Motors Vendor Park, Adityapur, Jamshedpur, Jharkhand. The company commenced operations at Faridabad in October 1990 by developing dies, moulds & tools for various Original Equipment Manufacturers (OEM) of Automobiles. In December 2010, the company completed the capacity expansion for 1 ton goods and passenger carrier programme at Pantnagar.
ASAL serves prestigious vehicle manufacturers including Tata Motors Limited, General Motors India Private Limited, Fiat India Automotive Private Limited (FCA), Piaggio Vehicles Private Limited, Ashok Leyland, JCB, Tata Hitachi & MG Motors. As a key supplier of sheet-metal stampings, welded assemblies, and modules for Tata Motors' passenger and commercial vehicles, ASAL benefits from its parent company's strong market position.
The company's financial performance has shown some challenges recently. For the full year ended March 2025, net profit declined 16.81% to Rs 16.78 crore compared to Rs 20.17 crore in the previous year. Sales also declined 11.93% to Rs 775.28 crore in FY25 against Rs 880.33 crore in FY24.
For the quarter ended March 2025, net profit declined 35.17% to Rs 4.94 crore compared to Rs 7.62 crore in the same quarter of the previous year. Sales declined 19.10% to Rs 188.07 crore in Q4 FY25 against Rs 232.48 crore in Q4 FY24.
On a nine-month basis, the company's net profit fell 5.7% to Rs 11.84 crore on a 9.4% decrease in revenue to Rs 587.21 crore in 9M FY25 over 9M FY24.
• Market Capitalization: ₹905.38 Cr (as of July 3, 2025)
• 52-Week High/Low: ₹1,094.55 / ₹395.50
• Price-to-Earnings Ratio: 53.99
• Price-to-Book Ratio: -122.85
• Promoter Holding: 75.00% (as of March 2025)
Over the last 5 years, ASAL's revenue has grown at a yearly rate of 15.19%, which is slightly higher compared to the industry average of 13.31%. The company's market share has increased from 0.2% to 0.21% over the same period, indicating a marginal growth in its footprint within the sector. ASAL operates in the Consumer Discretionary sector under the Auto Parts sub-sector, highlighting its role in supporting the broader automotive industry.
Promoter holding in ASAL stood strong at 75.00% as of March 2025, remaining unchanged from June 2024, which reflects stability in ownership and management control by Tata AutoComp Systems. The company has submitted its FY 2024-25 Business Responsibility and Sustainability Report detailing ESG initiatives as of July 2, 2025, demonstrating a commitment to environmental, social, and governance practices.
ASAL represents a significant player in India's automotive component manufacturing sector, backed by the Tata Group's strong foundation and serving major automotive OEMs across passenger and commercial vehicle segments. Despite recent financial challenges, the company maintains its strategic position in the growing Indian automotive market through its diversified product portfolio and robust manufacturing capabilities, positioning itself for potential recovery and sustained relevance.
