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Black Bear Labs ASKAUTOLTD · Q1 FY27 · earnings call

ASKAUTOLTD

The company reported strong financial performance in Q1 FY27 with revenue up 52.1% YoY, EBITDA up 32.7%, and PAT up 28.8%. Key growth drivers included higher volumes, improved capacity utilization, and strategic business closures. Challenges included increased aluminum prices impacting margins.

Growth by metric

Revenue+52.1% YOYEBITDA+32.7% YOYPAT+28.8% YOY

Scale of reported figures

Revenue₹1,361 crEBITDA₹164 crPAT₹85 cr

Key financials

Revenue₹1,361 crore+52.1% YoY
EBITDA₹164 crore+32.7% YoY
PAT₹85.1 crore+28.8% YoY

Segment commentary

Advanced Braking Systems

Revenue increased by 48% YoY.

Aluminium Lightweighting Precision Solutions

Revenue grew by 75% YoY.

Guidance & outlook

  • Focus on expanding in the EV and PV sectors, leveraging exports, and increasing IAM channel sales.

Key takeaways

  • Strong financial performance driven by volume growth and strategic closures.
  • Aluminium price volatility poses margin risks.
  • Focus on expanding into EV and PV markets with innovative products.

Risks flagged

  • Significant increase in aluminium prices impacting margins.
herofinancialssegmentstakeawaysquote
Educational analysis only. Not investment advice. Consult a SEBI-registered advisor before investing. Source: https://nsearchives.nseindia.com/corporate/8448091598_04082026183312_stxintimationinvestorpres04sd.pdf
Full transcript (2,876 words)
August 04, 2026 BSE Limited National Stock Exchange of India Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Dalal Street, C-1, Block - G, Bandra Kurla Complex, Bandra (East), Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 544022 Symbol: ASKAUTOLTD ISIN No.: INE491J01022 ISIN No.: INE491J01022 Re.: ASK Automotive Limited Re.: ASK Automotive Limited Sub: Presentation to be made to the Analysts and /or Investors Dear Sir/Madam, Pursuant to the requirement of Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the presentation to be made to the Analysts and/or Investors on the Unaudited Financial Results of the Company for the quarter ended on June 30, 2026. The same shall be available on our website i.e. www.askbrake.com. This is for your information. Thanking you, For ASK Automotive Limited Rajani Sharma Company Secretary & Compliance Officer Membership No.: ACS 14391 Encl: As above ASK LIMITED AUTOMOTIVE Quarterly Earnings Call || Q1 FY27 Advanced Braking Aluminum Lightweighting Safety Control Systems Precision Solutions Cables https://askbrake.com Content 01 Overview: ASK Group 4 02 Financial Performance-Q1 FY27 5-8 03 Key Growth Strategies & Recent Breakthrough 9-10 04 Technical Collaborations & Partnerships 11 05 Transition to Renewal Energy 12 06 Customer Relationship and Recognitions 13-14 07 Others 15-19 08 Annexures 20-22 2 Cautionary Statement This presentation and the accompanying slides (the “presentation”) contain selected information about the activities of ASK Automotive Limited (the “Company”) and its subsidiaries and affiliates (together, the “Group”) as at the date of the presentation. It does not purport to present a comprehensive overview of the Group or contain all the information necessary to evaluate an investment in the Company. Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company’s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations. The information contained herein has been prepared to assist prospective investors in making their own evaluation of the Company and does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may desire. In all cases, interested parties should conduct their own research/investigation and analysis of the Company and the data set forth in this information. The Company makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) regarding information contained in, or for any omissions from, this information or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Company. While we have made every attempt to ensure that the information contained in this presentation has been obtained from reliable source, the Company is not responsible for any errors or omissions, or for the results from the use of this information. All information in this presentation is provided on "as is" basis with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information and without warranty of any kind, express or implies including but not limited to warranties of performance for a particular purpose. In no event will the Company, its Directors, legal representatives, employees thereof be liable to anyone for any decision made or action taken by relying on data/information in this presentation. 3 ASK Group Overview - ASK is a leading Brand in 2W Braking Segment in India ASK Automotive Limited 35+ Years Product Segments Leading Safety Systems Manufacturer Experience in safety products ASK Automotive Limited is a Public and solutions ~50% 37% 51% 14 Market Share in Listed Indian auto ancillary major, Advanced Aluminium Exporting 2W’s AB systems in having diversified operations and countries India Braking Systems Lightweighting Precision offers powertrain-agnostic products Solutions under Advanced Braking Systems, FY 2025-26 Aluminium Lightweighting precision Total Income solutions, and Safety Control Cables Long standing Rs. 4196 Crore relations with EV & Non-EV business segments. Powertrain agnostic (USD 446Mn)* all top 2W ICE products and EV customers Strong 5 Technical Collaborations 4% In-house R&D, & 3 Joint Engineering Safety Control Ventures and Design 18 With World class Cables Centre State of the art global players 5% 3% 4 9 Manufacturing Wheel Assembly R N Facilities Others I= D S U LISTED ON NSE-15 NOV 2023 1 d e m u s s A * Last 4 years CAGR Key Ratios FY 2026 Financial Highlights 20.0% 31.9% 38.4% 0.50 0.95 26.9% Revenue EBITDA EPS Debt-Equity Avg. Debt-EBITDA RoACE 4 Key Business Performance Highlights - Q1 FY27 (Consolidated) ❖ Robust growth in both top line and bottom line ❖ EBITDA up +32.7%, PAT up +28.8% YOY ❖ Highest ever Quarterly Revenue, EBITDA & PAT ❖ EBITDA Margins at 12.0% ❖ Revenue growth outperformed Industry growth ❖ Absolute EBITDA remained strong at Rs. 164 Cr. against Rs.123 Cr. in Q1 FY26 . However, EBITDA percentage was ❖ Consolidated Revenue Growth up + 52.1% YOY impacted due to abrupt and phenomenal pass-through Passthrough impact of Significant increase in Alloy Prices Alloy prices. on revenue + 33.4% Wheel Assembly strategic reduction impact (-) 6.6% ❖ EPS at Rs 4.32, up+28.8% YOY, ❖ Absolute EBITDA improvement resulting from:- Overall Net Revenue Growth up + 25.3% YOY ▪ Higher Volume driven economies of scale ▪ Benefit from increasing capacity utilisation at Karoli and new Bangalore facility ▪ Strategic Closure of low value-added Wheel Assembly business 5 Financial Performance of Q1 FY 27 (in Crores) - Consolidated TOTAL INCOME Consolidated Net Revenue* 1361 +52.1% +25.3%* 1062 *Excluding Passthrough Alloy 895 848 Prices impact + 33.4% and Wheel Assembly impact (-) 6.6% Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 EBITDA PAT EBITDA and PAT Margins% +32.7% 13.8% 164 12.0% 85 EBITDA percentage was 123 impacted due to abrupt 66 7.4% and phenomenal increase 6.3% in Aluminium prices.. EBITDA % PAT % Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 6 Revenue by Product Segment and Channel Q1 FY27 – Consolidated Product Segment Channel Others, 3.9% Exports, 2.9% Others, 6.3% SCC, 2.9% WA*, 0.0% WA*, 0.0% IAM ABS, 35.5% 7.0% 7 PV, 3.5% 2 Y F 1 2W-EV, 5.7% Q ALPS 57.7% 2W-ICE, 74.6% *With effect from 01.04.2026, WA Sales are Nil SCC, 3.7% Others, 4.3% Others, 5.2% Exports, 3.7% WA, 5.3% WA, 5.3% 6 2 IAM Y ABS, 36.4% F 9.6% 1 Q PV, 3.5% ALPS 50.3% 2W-ICE, 67.6% 2W-EV, 5.1% 7 Product Segment Revenue (Rs. Crores) Q1 FY27- Consolidated Advanced Braking Systems Aluminium LW Precision Solutions Safety Control Cables +48% 482 +75% 784 +20% 39 325 33 449 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 2W Industry# Wheel Assembly (Vehicle Production in Lakhs) +22.8% 72 47 59 0 NIL #SIAM Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 *With effect from 01.04.2026, WA sales are Nil 8 Key Growth Strategies Diversify product offering in AB Strengthen position Develop innovative systems systems and ALP solutions and in the growing EV and solutions and have expand market in PV and CV sector in India strong pipeline of products segment Independent Focus on design, Electrification Focus on Export Diversify Product After R&D, Engg - EV Offerings Market capabilities Leverage export Expand IAM channel network and increase opportunities and enter focus on IAM sales and new markets spares 9 Recent Breakthrough Happy to share that the technical collaboration with Kyushu Yanagawa Japan has been successfully implemented at our Karoli plant and 1st Supply of High Pressure Die Casted Alloy Wheel has started to our leading Japanese customer. 10 World Class Technical Collaborations and Global Partnerships... 2001 - Japanese Manufacturer 2016 - NUCAP, Canada 2018 - FRAS-LE, Brazil A prestigious manufacturer A Patented Retention Systems - A Randon group company, Fras-le is a global & supplier of Non-asbestos Mechanical Bonding Disc Brake leader in brake linings and pads for commercial Brake Shoes to the world’s Pads for 2W, PV and CV vehicles, supplying to global OEMs leading 2W manufacturers 2001 2016 2016 2024 2025 2018 2024 2025 2025 - Kyushu 2024 - AISIN, Japan 2025 - T D Holding 2016 - HSH Safety Control 2024 - LIOHO, TAIWAN Yanagawa Seiki, Co., Gmbh AISIN Group Companies, a (Technical License Cable Ind. Co. Ltd. Ltd., Japan holding Company of GEMO) A Leading Player in leading Japanese OE Auto Leading manufacturer of manufacturer of A leading Motorcycle Components supplier, is For Manufacturing of high-quality control cables automotive system wheel supplier with among the Top 10 global Sunroof Operating and with more than six components and metal high pressure Tier One automotive Cables for passenger decades of experience in parts including Alloy Aluminium die suppliers of Passenger Car Vehicles with proven global markets Wheel casting technology products licensed technical know how. 11 ESG - Transition towards Renewable Energy Solar usage (units in kWh millions) 33.3 ▪ Clear focus towards Renewal Energy ▪ 100% conversion of Diesel to PNG in melting furnaces 9.6 7.2 7.5 7.3 6.3 ▪ 9.9 MWp Solar Power Plant for captive consumption operationalized. 2021 2022 2023 2024 2025 2026 ▪ Upcoming one more Captive Solar power plant of 11.55 MWp in Rajasthan and expected to be PNG usage (units in SCM millions) operational by Q2 FY27. 7.0 ▪ Highly Rated by Customers on Sustainability: 4.3 Maruti – Excellent, TVS – Gold, Hero MotoCorp 2.8 – 100% compliant, Yamaha – 100% compliant 0.6 0.3 0.4 2021 2022 2023 2024 2025 2026 12 Long-standing Relationship with Indian and Global OEM players 2 Wheelers-ICE 2W Years of Customers Relationship Hero MotoCorp Limited Hero 33 MotoCorp Limited 2 Wheelers-EV 25 24 4 Wheelers 24 Commercial Vehicle Export Customers 23 Polaris Inc. 19 ^ Supplied through JV 13 Awards and Recognitions India’s Best Managed Companies 2025 Award by Deloitte 8 Awards for Excellence in Development 13 Awards for Excellence in Quality 10 Awards for Excellence in Performance 14 6 Awards for Excellence in Cost Innovation 14 Diverse & Extensive Product Portfolio 2W 3W 4W CV (Joint Venture) Advanced Braking Brake Shoe Brake Pad Brake Lining System Brake Shoe Brake Pad Brake Shoe Brake Panel Case Mission Brake Pad 2W PV Exports EV Aluminium LW Alloy Wheel Engine Cover ECU Body ECU Housing Demolition Geared Pulley Precision Fan Electric motor Hammer Solutions housing Crank Case Pillion Grip Throttle Body Filter Housing Cover Bottom Base Adaptor Battery housing 2W 2W 2W 3W Safety Control Cables Front Brake Cable Rear Brake Cable Throttle Speedometer Cable Gear Shift Cable Assembly Assembly Cables Assembly 15 Board of Directors Kuldip Singh Rathee - Chairman & MD Vinay Kumar Piparsania -Independent Director • Bachelor’s degree in arts (Economics Honours) from Delhi University • Bachelor’s degree in technology (mechanical engineering) from Indian Institute of Technology, Delhi and a • Served in the Central Reserve Police Force and was directly recruited for the master’s degree in business administration from Tulane University, New Orleans, Louisiana (USA) post of deputy superintendent of police in 1974 and served till 1978 • Experience in the automotive sector and was previously associated with Ford India, BMW Oman, Hero • Previously enlisted as a contractor in Class I (B&R) with the Directorate Corporate Service Limited, TVS Automobile Solutions and currently the principal at MillenStrat Advisory & General of Works, Central Public Works Department, Government of India Research • Experience in the real estate sector and in the manufacturing sector Vijay Rathee Non-Executive Director Deepti Sehgal - Independent Director • Bachelor’s degree in commerce from the University of Delhi, and a postgraduate diploma in • Bachelor’s degree in science and a master’s degree in science (Zoology) business administration from Indian Institute of Management, Ahmedabad, Gujarat • Experience in the banking sector and the manufacturing sector and was • Experience in the consultancy sector and was previously associated with Infogain previously associated as an officer with Punjab & Sind Bank Corporation, Deloitte Touche Tohmatsu India, GE Capital International Services and IBM India Prashant Rathee – Joint Managing Director Kumaresh Chandra Misra - Independent Director • Bachelor’s degree in commerce from Delhi University • Bachelor’s degree in arts. a bachelor’s degree in law, a postgraduate diploma in business • Previously a director on the board of A.A. Autotech Private Limited from administration from Indian Institute of Management, Ahmedabad, Gujarat and a master’s degree in arts (political economy) from Boston University, Boston, Massachusetts (USA) 2008 till it merged with ASK Automotive. • Extensive experience in the manufacturing sector • A retired IAS officer and previously Joint Secretary with the Ministry of Chemicals and Fertilizers. Aman Rathee – Joint Managing Director Yogesh Kapur - Independent Director • Bachelor’s degree in science (engineering) and a master’s degree in • Bachelor’s degree in commerce (honours) from University of Delhi, Delhi and is a fellow of the Institute of business administration from Purdue University, Indiana (USA) and a Chartered Accountants of India certification in M&A from Harvard Business School, Massachusetts (USA) • Experience in investment banking and was previously associated with Axis Capital Limited and was also the • Previously a director on the board of A.A. Autotech Private Limited from managing director at Enam Securities Private Limited. He was also associated with HDFC for 8 years 2012 till it merged with ASK Automotive • Currently on the board of director of Relaxo Footwear Ltd, Rico Auto Industries Ltd, Greenlam Ltd, Kirloskar • Extensive experience in the manufacturing sector Oil Engines Ltd and 4 other companies. Rajesh Kataria - Whole-Time Director Rajan Wadhera- Independent Director • Bachelor’s degree in business administration and a master’s course in • Bachelor’s degree of technology in aeronautical engineering from the Indian Institute of Technology, business administration (human resources) Bombay and a Master’s degree in technology with specialization in Aircraft propulsion from the Indian • Currently responsible for Operational Management of the Company Institute of Technology, Bombay. • Previously associated with Mahindra and Mahindra Limited as President, Automotive and Farm equipment sectors and Eicher Motors Limited as Director – supply chain. • Currently on the board of director of G N A Axles Ltd , AJAX Engineering Ltd, Metalman Auto Ltd.and Texspin Bearing Ltd. 16 Geographical Presence across India Himachal Pradesh Baddi – 1 Plant Uttarakhand Corporate Office Haryana Haridwar – 2 Plants Gurugram/Manesar - 9 Plants, JV - 1 Plant Rajasthan Karoli (WOS) – 1 Plant 9,000+ Gujarat Workforce Ahmedabad - 1 Plant Karnataka Bengaluru (3 Plants) ASK - 1 Plant, WOS - 2 Plants 18 State of the art Manufacturing Facilities WOS - ASK Automobiles Private Limited, a wholly owned subsidiary of ASK Automotive 17 JV - ASK FRAS-LE Friction Private Limited ASK Group’s Strengths Largest manufacturer of 2W Advanced Braking System in India with ~50% market share Powertrain Agnostic product offerings in both EV and Non-EV 5 World Class Technical Collaborations and 3 World Class Joint Ventures High entry barriers due to proprietary material formulations, in-house Engg, Designing & Tool room Long standing relationship with customers & established Aftermarket focused on Quality, Cost & Delivery Robust financial performance with 16.2% Revenue growth, 24.1% EBITDA growth, 20.1% PAT growth and RoACE of 26.9% in FY26. Credit Rating by Crisil : Long term AA, Short term A1+ 18 AHSAAS Trust – A CSR Initiative Focusing Our Efforts Today for a Better Tomorrow for Everyone. AHSAAS, the philanthropic arm of ASK Automotive was born out of our chairman & Managing Director Mr. Kuldip Singh Rathee and his wife and Non- Executive Director Ms. Vijay Rathee with an aim and dedication to contributing toward socio-economic growth in the states of our operations. EDUCATION HEALTH CARE WOMEN SAFETY SPORTS TALENT NURTURING CONSERVATION SKILL DEVELOPMENT 19 Profit and Loss Q1 FY27 - Consolidated (in Rs. Crore) Particulars (Rs. Cr) Q1 FY27 Q1 FY26 % Change (YoY) Revenue 1358.1 891.3 Other Income 3.0 3.7 Total Income 1361.1 895.0 52.1% Cost of Material Consumed 1026.3 621.3 Change in inventories -85.0 -50.4 Employees Benefit Expenses 61.0 53.4 Other Expenses 195.4 147.6 EBITDA percentage was Dies for own use -0.2 -0.3 impacted due to abrupt and EBITDA 163.6 123.3 32.7% phenomenal increase in EBITDA margin (%) 12.0% 13.8% -176 bps Aluminium prices. Depreciation 33.1 26.5 EBIT 130.4 96.8 Finance Cost 15.9 10.2 PBT before profit/(loss) of JV 114.6 86.6 Share in Profit/Loss of JV -2.3 0.6 PBT 112.3 87.2 Income Tax & Deffered Tax 27.1 21.1 PAT 85.1 66.1 28.8% PAT margin (%) 6.3% 7.4% -113 bps 21 Glossary Term Description Term Description AB Advanced Braking ECU Electric Control Unit ALP Aluminium Lightweighting Precision MCU Motor Control Unit SCC Safety Control Cables HMI Human-machine interface AM / IAM Independent Aftermarket HEV Hybrid Electric Vehicles OEM Original Equipment Manufacturer BEV Battery Electric Vehicles ATV All-terrain vehicles ICE Internal Combustion Engine 2W Two-wheeler EBITDA Earnings Before Interest, Tax, Depreciation and Amortization EV Electric Vehicle CAGR Compounded Annual Growth Rate 3W Three-wheeler PAT Profit After Tax PV Passenger Vehicles RoACE Return on Average Capital Employed CV Commercial Vehicles JV Joint Venture RoAE Return on Average Equity 22 For further information Contact ASK Automotive Ltd. Adfactors PR 1. Mr. Naresh Kumar : Chief Financial Officer 1. Mr. Rushabh Shah naresh@askbrake.com rushabh.shah@adfactorspr.com 2. Mr. Manoj Sharma: Chief General Manager-Investor Relations investor@askbrake.com 23