# ASK Automotive share price today (ASK Automotive Ltd, NSE: ASKAUTOLTD)

> ASK Automotive share price today: ₹579.55 at the NSE close on 4 November 2026, up 26.2% in a year. ASK Automotive (NSE: ASKAUTOLTD) is worth ₹11,431 crore, trades at a P/E of 36.1 and has closed between ₹391.85 and ₹656.25 over the past 52 weeks. > ASK Automotive Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. ASKAUTOLTD · Auto Ancillaries - 2 Wheelers · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/ask-automotive-ltd

Our full read on ASK Automotive, including whether management kept its promises and what could stop it, is in the Sector Alpha newsletter: https://newsletter.sectoralpha.in/p/deep-dive-why-ask-automotive-is-beating?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹579.55 (+26.2% in a year)
- P/E: 36.1× (lower than 59% of the last 3 years)
- Revenue (Jun 2026): ₹1,358 Cr (+52.4% on a year ago)
- Profit (Jun 2026): ₹85.0 Cr (+28.8% on a year ago)
- Operating margin: 12.0% (−1.0 points on a year ago)
- ROCE: 25%, FY26
- ROIC: 17.9%, against a 12.0% cost of capital: +5.9 points

The main question: promoters moved −4.0 percentage points over 8 quarters while the business went the other way. ## What is the ASK Automotive share price today? ASK Automotive Ltd's share price was ₹579.55 at the close on 4 November 2026. It has been rising for 15 weeks. That is 9.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹392 and ₹656, and at that close it sat 71% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 2 weeks running. Over the last 3 years the share price moved +87% while the NIFTY 500 moved +24%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 23 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at ASK Automotive this quarter? Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), profit up on a year earlier for 11 quarters in a row (every quarter we can compare) and indian funds and insurers (DIIs) raised their stake for 4 quarters in a row. 1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹1,358 crore, +52.4% on a year earlier. Why: Revenue rose because all three product lines sold more, led by ALPS and ABS, and because higher alloy prices were passed on to customers, which lifts reported sales. Next results: check whether sales after alloy price effects keep beating two-wheeler production in the September quarter. From the earnings call on 5 Aug 2026. 2. Profit up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter profit was ₹85 crore, +28.8% on a year earlier. Why: Profit rose because all three product lines sold more, led by ALPS and ABS, and because the company recovered higher alloy costs from customers and locked in prices, so earnings were protected. Next results: check whether gross margin, sales minus direct costs, improves as aluminum prices ease. From the earnings call on 5 Aug 2026. 3. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row From 4.8% to 11.1% of the company by the September 2026 quarter. ## What are ASK Automotive's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), ASK Automotive reported revenue of ₹1,358 crore, up 52.4% from ₹891 crore a year earlier, and a profit of ₹85.0 crore, up 28.8% from ₹66.0 crore. ### ASK Automotive results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,358 crore | ₹891 crore | +52.4% |
| Profit | ₹85.0 crore | ₹66.0 crore | +28.8% |
| Earnings per share | ₹4.32 | ₹3.35 | +29.0% |
| Operating margin | 12.0% | 13.0% | −1.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). ASK Automotive's management discussed these results on a call held on 5 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the ASK Automotive share price history? ASK Automotive closed at ₹579.55 on 4 November 2026, up 26.2% from ₹459.30 a year earlier (7 November 2025) and up 86.9% over three years. Its highest weekly close since November 2023 was ₹656.25 on 18 September 2026. ### ASK Automotive share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹566.30 | +2.3% |
| 1 month ago · 1 Oct 2026 | ₹618.15 | −6.2% |
| 6 months ago · 8 May 2026 | ₹456.15 | +27.1% |
| 1 year ago · 7 Nov 2025 | ₹459.30 | +26.2% |
| 3 years ago · 17 Nov 2023 | ₹310.15 | +86.9% |
| Earliest weekly close in our records · 17 Nov 2023 | ₹310.15 | +86.9% |
| Highest weekly close since November 2023, also the 52-week high · 18 Sep 2026 | ₹656.25 | −11.7% |
| Lowest weekly close since November 2023 · 15 Mar 2024 | ₹254.35 | +127.9% |
| 52-week low (weekly close) · 6 Mar 2026 | ₹391.85 | +47.9% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (160 weekly closes from 17 November 2023 to 4 November 2026.)

## What is the latest news on ASK Automotive? 4 Nov 2026: ASK Automotive closed at ₹579.55, up 2.3% on the week and down 6.2% on the month. Our read, 22 Aug 2026: India's dominant 2-wheeler safety-component maker, delivering 20% revenue yearly growth over four years via operating leverage and mix shift, now upgrading guidance to high-teens FY27 growth on a fresh plant cycle. ### Earlier

- 5 Aug 2026: ASK Automotive held its results call for April to June 2026. Management guided: FY27 consolidated revenue growth in the high teens, with momentum expected throughout the year. - 31 Jul 2026: ex-date for a dividend of ₹1.85 a share. - Results for April to June 2026: Revenue up 52.4% and profit up 28.8% on a year earlier. ### Our read of the business

ASK Automotive supplies braking systems, aluminum precision die castings, and safety cables to every major Indian 2-wheeler OEM, with multi-year homologation giving its market positions durability above replacement risk. Revenue compounded at 20% annually from FY22 to FY26 (from ₹2,013 Cr to ₹4,176 Cr) while operating margin expanded from 8% to 13%. The August 2026 concall delivered the highest-ever quarterly revenue, operating profit, and profit, with the full-year FY27 growth framework raised to high-teens and a new south-Bangalore plant announced on fresh order inflows. April to June 2026: Highest-ever quarter on all three metrics; growth guidance upgraded to high-teens; new south-Bangalore plant triggered by fresh orders. (Our read after the April to June 2026 results, written 22 August 2026.)

## What dividend does ASK Automotive pay? ASK Automotive paid ₹1.85 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.32% at the ₹579.55 close on 4 November 2026. The last was a dividend of ₹1.85 a share, ex-date 31 July 2026. ### ASK Automotive dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 31 Jul 2026 | ₹1.85 | Dividend |
| 18 Jul 2025 | ₹1.50 | Dividend |
| 9 Aug 2024 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 2 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. ASK Automotive Ltd paid out 12% of its profit as dividends in FY26, and it paid a dividend in 5 of its last 8 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did ASK Automotive management say on the latest results call? On the call for April to June 2026, held on 5 August 2026, ASK Automotive's management guided: FY27 consolidated revenue growth in the high teens, with momentum expected throughout the year. > “We are confident that we will continue to grow not only in the mid-teens, but I am confident that we will now grow for the full year in the high teens.”
> Kuldeep Singh Rathee, Chairman & Managing Director, on the call for April to June 2026

### What management guided

- Operating margin around 13.5-14%; gross margin to return to 34% over the next 2-3 quarters as aluminum prices ease. - Alloy-wheel confirmed orders about ₹70-90 crore in FY27 and ₹250 crore in FY28. - FY27 exports planned to grow by approximately one-fifth on a year earlier; Ford exports about ₹40-45 crore this year and likely ₹60 crore next year. - Karoli utilization around 80% by Q4 and south Bangalore plant operational before March; FY27 capital spending potentially ₹700 crore and debt-to-equity below 0.5. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/56300/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 5 August 2026.)

## What is the future of ASK Automotive? What is changing in the business? One change in ASK Automotive's own numbers looks lasting: market share gains. Also showing up, but too early to call lasting: costs spread over more sales and a bigger market to serve. Market share gains looks lasting

The company keeps growing faster than two-wheeler production: in FY26 braking +17%, aluminium parts +30% and cables +14% against industry growth of 11.8%; and in the Jun 2026 quarter underlying revenue grew 25.3% against production growth of 22.8%. Management says it has outgrown the industry for 30 years. Why it may last: The edge comes from things the company owns, leadership in brake pads, aluminium casting know-how, high content with Honda and a formal aftermarket brand that benefits from the tax cut, and revenue roughly doubled from ₹2,013 crore in FY22 to ₹4,176 crore in FY26. Next check: Sep 2026 quarter underlying revenue growth (net of aluminium pass-through) beats two-wheeler production growth, with operating profit growing at least as fast as underlying revenue. Quarter by quarter, 4 quarters

July to September 2025

Reported revenue +8.2% against expected industry growth of about 7%, held back by the wheel-assembly exit; cable growth slowed to 2%. Operating profit still +17% (137 vs 117 crore). ✓ fact

From our notes of the call for July to September 2025: Safety cable segment growth slowed to only 2% this quarter due to changes in vehicle model ratios and approvals for certain models. October to December 2025

All three segments grew 22-36% against petrol two-wheeler output +15%. Operating profit +27% (141 vs 111 crore), roughly in line with revenue +28% excluding wheel assembly (the right underlying basis; reported revenue was +18.5%), so profit roughly kept pace with underlying sales. ✓ fact

From our notes of the call for October to December 2025: All product segments delivered strong growth: Advanced Braking Systems +22% Q3/+12% 9M (market leadership sustained); Aluminum Lightweight Solutions +36% Q3/+24% 9M; Safety Control Cable +22% Q3/+10% 9M. January to March 2026

Braking +32% and aluminium parts +47% in the quarter against industry units +21%; operating profit +26.9% (132 vs 104 crore), a little below the 30.0% underlying sales growth (excluding pass-through and the wheel exit) the summary gives. ✓ fact

From our notes of the call for January to March 2026: Advanced Braking Systems delivered FY26 revenue growth of 17.0% on a year earlier, outpacing two-wheeler industry production growth of 11.8%; Q4 acceleration to 32.0% on a year earlier signals market share gains and strong customer momentum. April to June 2026

Underlying growth 25.3% vs production 22.8%, still ahead, but the gap is down to 2.5 points from roughly 13 points in the Dec 2025 quarter. Operating profit +32% (158 vs 120 crore). ✓ fact

From our notes of the call for April to June 2026: April to June 2026 consolidated revenue ₹1,358 crore (+52.1% on a year earlier reported; +25.3% net of alloy pass-through and wheel assembly reduction) versus two-wheeler production +22.8%. Costs spread over more sales too early to call

Two newer plants are filling up, so the same factories and staff produce more sales. Bangalore went from 60% used (Sep 2025 quarter) to 75-80% (Dec 2025) to 80% with all slots booked (Mar 2026) to 'optimum or near-optimum' (Jun 2026); Karoli sat at 60-70%, then 65%, then 'improved materially' with ₹110 crore of monthly revenue. Operating profit (profit from the business before interest, depreciation and tax) rose from ₹120 crore in Jun 2025 to ₹158 crore in Jun 2026, about 32%, and by ₹116 crore over the last four quarters, while depreciation rose only ₹25 crore and interest ₹18 crore. Why it may last: Gains from filling plants rise and fall with two-wheeler volumes, and the next capacity round (capital spending now guided up to ₹700 crore and a new south-Bangalore plant) adds fresh fixed cost and depreciation that resets utilisation. What could be flattering it: Sales inflated by aluminium prices passed straight to customers, or profit helped by other income, tax or a one-time inventory gain, while new depreciation, interest and 1,500 new workers eat the benefit. Next check: Sep 2026 quarter operating profit at least 15% above Sep 2025's ₹137 crore (so ₹158 crore or more) while depreciation stays at or below about ₹36 crore, and Karoli utilisation reported above 65%. Quarter by quarter, 4 quarters

July to September 2025

Operating profit rose 17% (137 vs 117 crore) on revenue up only 8.2% (1,054 vs 974 crore); operating margin 13.01% vs 11.99% a year earlier. Bangalore at 60% utilisation. ✓ fact

From our notes of the call for July to September 2025: The Bangalore new facility achieved 60% utilization in Q2 and is expected to reach 70% to 75% capacity utilization by Q4. October to December 2025

Operating profit rose 27% (141 vs 111 crore) on revenue up 18.5% (1,084 vs 915 crore). Management credits scale, higher utilisation and the exit from low-margin wheel assembly. ✓ fact

From our notes of the call for October to December 2025: Margin improvement from economies of scale, higher volumes, increased capacity utilization (Bangalore 75-80%, Rajasthan 65%), and strategic wheel assembly exit (down 51.5% Q3, 52.8% 9M)

January to March 2026

Operating profit rose 27% (132 vs 104 crore) but reported revenue rose 35% (1,147 vs 850 crore) and management's own underlying growth figure was 30%, so profit did not outrun sales this quarter. A named one-off ₹5 crore aftermarket loss from the March aluminium spike explains part of it. ✓ fact

From our notes of the call for January to March 2026: Caused ₹5 crore incremental loss in independent aftermarket channel due to daily prices volatility and delayed pass-through. April to June 2026

Operating profit rose 32% (158 vs 120 crore) against underlying revenue growth of 25.3% as stated in the summary (reported growth of 52% is mostly aluminium cost passed through). Depreciation rose from 26 to 33 crore. Karoli scaling, 1,500+ staff hired. ✓ fact

From our notes of the call for April to June 2026: Karoli monthly revenue reached ₹110 crore last month; more than 1,500 employees were recruited as the large facility scales. A bigger market to serve too early to call

The two-wheeler industry is growing fast: about 7% expected for FY26 in Oct 2025, ICE (petrol) maker output +15% in the Dec 2025 quarter after the GST cut from 28% to 18%, 11.8% for FY26 with the Mar 2026 quarter at 7.0 million units vs 5.8 million (+21%), and production +22.8% in the Jun 2026 quarter. Why it may last: Two-wheeler demand rides rural incomes, monsoons and credit, and the tax-cut lift is a one-time step; it will not compound on its own. What could be flattering it: The company riding the boom while losing share, or a one-time tax-cut lift that fades. Next check: Two-wheeler production growth in the Sep 2026 quarter stays in double digits against the post-tax-cut base, with the company still growing faster. Quarter by quarter, 4 quarters

July to September 2025

Industry guided at about 7%; company revenue +8.2% (1,054 vs 974 crore). ✓ fact

From our notes of the call for July to September 2025: The anticipated two-wheeler industry growth is expected to finalize around 7% for the current year, providing a favorable backdrop, with continued growth expected next year. October to December 2025

Tax cut lifted petrol two-wheeler output 15%; company revenue +18.5% reported, +28% excluding wheel assembly. ✓ fact

From our notes of the call for October to December 2025: GST reduction 28% to 18% enabling significant aftermarket share capture from grey market operators; ICE two-wheeler OEM growth accelerated to 15% in Q3 on price competitiveness. January to March 2026

FY26 industry +11.8% to a record 26.7 million units; Q4 units +21%. ✓ fact

From our notes of the call for January to March 2026: Two-wheeler industry registered robust 11.8% production growth in FY26 reaching 26.7 million units, surpassing FY19 pre-COVID peak. April to June 2026

Industry production +22.8%; company underlying revenue +25.3%. ✓ fact

From our notes of the call for April to June 2026: Robust two-wheeler demand and policy support offset West Asia, aluminum, currency, and monsoon volatility. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to April to June 2026, 10 October 2026.)

## What could change the ASK Automotive story? What are the risks? If Karoli utilization is still below 65% in the December 2026 concall and revenue growth falls below 12% for two consecutive quarters, the new plant is not converting orders to revenue at the guided pace and the core operating-leverage argument breaks. ### Each change stops working if

- : Karoli utilization stays below 65% in the Dec 2026 concall, signaling that existing OEM orders are not ramping as quickly as the plant's capacity was built for. - : Alloy-wheel Taiwanese qualification slips beyond Jun 2027 AND existing Japanese-collaboration orders do not convert to the guided ₹250 Cr FY28 run-rate. - : An ABS mandate is formally withdrawn and Honda allocates new model-year ABS sourcing to a competing supplier. ### The main risks

- : both absorbed by institutions but no management commentary provided. ⚠ estimate
- : Capital spending revised to ₹700 Cr for FY27, 75% above the original ₹400 Cr guide, pushing D/E above management's own stated ceiling. ⚠ estimate
- : Aluminum pass-through compresses reported operating margin to 12% vs a guided 13.5 to 14% ceiling; margin percentage recovery depends on external commodity normalization. ⚠ estimate
- : Export revenue declined to ₹141 Cr in FY26 vs ₹147 Cr prior year; West Asia geopolitical disruption creates uncertainty for Ford ramp and other international commitments. ⚠ estimate

(Our read after the April to June 2026 results, written 22 August 2026.)

## What to watch in ASK Automotive's next results? When ASK Automotive reports July to September 2026, these are the 6 checks that show whether the story is still on course. First: Sep 2026 quarter underlying revenue growth (net of aluminium pass-through) beats two-wheeler production growth, with operating profit growing at least as fast as underlying revenue. | What to check | Why |
| --- | --- |
| Sep 2026 quarter underlying revenue growth (net of aluminium pass-through) beats two-wheeler production growth, with operating profit growing at least as fast as underlying revenue. | Market share gains |
| Sep 2026 quarter operating profit at least 15% above Sep 2025's ₹137 crore (so ₹158 crore or more) while depreciation stays at or below about ₹36 crore, and Karoli utilisation reported above 65%. | Costs spread over more sales |
| Two-wheeler production growth in the Sep 2026 quarter stays in double digits against the post-tax-cut base, with the company still growing faster. | A bigger market to serve |
| Full-year growth momentum - check whether net revenue continues to outperform two-wheeler production through Q2. | From the call |
| Karoli and south-Bangalore execution - check utilization, commissioning progress, and fresh-order conversion. | From the call |
| Alloy-wheel ramp and Taiwanese qualification - check Japanese-customer off-take and approval progress. | From the call |

## Which stock lists is ASK Automotive on? ASK Automotive is on 2 of our India lists: Multibagger study list and Momentum stocks. - [Multibagger study list Study stage: middle](https://www.sectoralpha.in/multibagger-stocks-india)
- [Momentum stocks Market cap cr: 11425.209606215787](https://www.sectoralpha.in/momentum-stocks-india)

## Is ASK Automotive profitable? ASK Automotive Ltd earned ₹85.0 Cr of net profit in the Jun 2026 quarter, +28.8% on the same quarter a year earlier. That is the 11th quarter in a row of profit growth. Full-year FY26 profit was ₹297 Cr. Over 7 years profit has grown 14.7% a year on average. That is 6.3% of the quarter's revenue. The same quarter a year earlier earned ₹66.0 Cr. For the full year, FY26 profit was ₹297 Cr (+19.8% on the year before). Why profit moved: revenue changed +52.4% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +23.4% and revenue +28.5%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does ASK Automotive make, and is it growing? ASK Automotive Ltd reported ₹1,358 Cr of revenue in the Jun 2026 quarter, +52.4% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 7 years it has grown 12.9% a year on average. The last full year, FY26, came in at ₹4,176 Cr. Why this happened. ABS revenue grew 48% YoY in Q1 FY27 (C011). Honda is the largest customer by content-per-vehicle, and ASK expects this position to persist across Honda's next model cycle. A regulatory ABS mandate remains under government consideration, management will not discuss draft proposals, but any mandate requiring ABS fitment across the full 2-wheeler fleet would structurally expand ASK's addressable market without requiring additional customer development work. The regulatory-mandate demand-floor model applies conditionally on notification. The last four reported quarters add to ₹4,643 Cr. FY26 revenue was ₹4,176 Cr, +16.0% on the year before. Recent pace: the last four quarters grew +28.5% on average, against 12.9% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +27.9%, against +20.4% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +23.3%, against +27.2% a year (rolling over). ## How much of every ₹100 of sales does ASK Automotive keep? ASK Automotive Ltd's operating margin was 12.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 8 years it has been between 8.0% and 13.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −1.8 percentage points on the year while gross margin changed −5.3 points. So the drop came mostly from the gross margin, which means input costs and prices charged. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is ASK Automotive's profit turning into cash? Over the last 3 years, 134% of ASK Automotive Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹301 Cr of operating cash against ₹297 Cr of profit. After ₹500 Cr of spending on assets, free cash was −₹199 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 134% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: the bigger use of cash is spending on new assets, at 4.2× depreciation over three years. The next section checks what that spending is building. ## Where does ASK Automotive's cash go? ASK Automotive Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 18 days in FY26, down from 18 days in FY21. It spent ₹1,146 Cr on assets over the last 3 years. Customers take 26 days to pay, and stock sits for 41 days on average. Why this happened. ALPS (die castings and alloy wheels) grew 75% YoY in Q1 FY27 (C012), making it ASK's fastest-growing and highest-value segment. The homologation moat is fully in place here: ALPS products are safety-critical castings that take years to qualify. Confirmed alloy-wheel orders stand at ₹70 to 90 Cr in FY27 and ₹250 Cr in FY28 (C025). Taiwanese qualification remains in final safety testing, the timeline has slipped before, but approved orders already give a floor for FY28 revenue. At FY26 sales of ₹4,176 Cr, each day of that cycle ties up about ₹11.4 Cr, so roughly ₹206 Cr is tied up in the business at any time. FY26: customers took 26 days to pay and stock sat for 41 days, about 1.3 months of sales sitting as stock, for a full cycle of 18 days, shorter than FY21's 18. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 41 days. Customers pay about 26 days after that. Suppliers are paid at 49 days. Together that makes the 18-day cycle. Spending on assets: ₹1,146 Cr over the last 3 years, against ₹272 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹152 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is ASK Automotive's P/E ratio, and how does it compare with its own history? ASK Automotive Ltd's P/E is 36.1×, in the middle of its own history: higher than 41% of past readings. Its usual P/E (the middle reading) is 37.9×, over 3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +20.1% while the price moved +26.2%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 3 years the price moved +23.2% a year; about +37.1% a year came from earnings growth and about −13.9 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the ASK Automotive share price assume? Worked out from its price on 11 October 2026, ASK Automotive Ltd's share price assumed profit growth of about 20.6% a year. Over the past 7 years its profit actually grew 14.7% a year. Today its P/E is 36.1×, lower than 59% of its own last 3 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the ASK Automotive business getting better or worse? ASK Automotive Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 28.6%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the ASK Automotive story, and has it been checked? ASK Automotive Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 22 August 2026. India's dominant 2-wheeler safety-component maker, delivering 20% revenue CAGR over four years via operating leverage and mix shift, now upgrading guidance to high-teens FY27 growth on a fresh plant cycle. From the numbers. The operating cycle is in mid-expansion: TTM PAT…

From the price. Price stage 2, week 15, above its 200-day line, relative strength falling. From the research. India's dominant 2-wheeler safety-component maker, delivering 20% revenue CAGR over four years via operating leverage and mix shift, now upgrading guidance to high-teens FY27 growth on a fresh plant cycle. Where they disagree. The operating cycle is in mid-expansion: TTM PAT is growing at 23% YoY with ROCE at 25% and the earnings curve expanding at 26% per year. OPM is at the 50th percentile of its own history, neither trough nor peak, which is consistent with the mid-expansion classification. What is proven. India's dominant 2-wheeler safety-component maker, delivering 20% revenue CAGR over four years via operating leverage and mix shift, now upgrading guidance to high-teens FY27 growth on a fresh plant cycle. What is not proven yet. If Karoli utilization is still below 65% in the December 2026 concall and revenue growth falls below 12% for two consecutive quarters, the new plant is not converting orders to revenue at the guided pace and the core operating-leverage argument breaks. What would change our mind. If Karoli utilization is still below 65% in the December 2026 concall and revenue growth falls below 12% for two consecutive quarters, the new plant is not converting orders to revenue at the guided pace and the core operating-leverage argument breaks. The test written in advance. If Karoli utilization is still below 65% in the December 2026 concall and revenue growth falls below 12% for two consecutive quarters, the new plant is not converting orders to revenue at the guided pace and the core operating-leverage argument breaks. Measured by: the thesis as written as stated by the next result. What the company does. ASK Automotive supplies braking systems, aluminum precision die castings, and safety cables to every major Indian 2-wheeler OEM, with multi-year homologation giving its market positions durability above replacement risk. Revenue compounded at 20% annually from FY22 to FY26 (from ₹2,013 Cr to ₹4,176 Cr) while OPM expanded from 8% to 13%. The August 2026 concall delivered the highest-ever quarterly revenue, EBITDA, and PAT, with the full-year FY27 growth framework raised to high-teens and a new south-Bangalore plant announced on fresh order inflows. What the surface reading misses. Tranche 2 (Sep 2025 78.95%→Dec 2025 74.95%): DII stake jumped from 4.82% to 9.13% in the same quarter, a 4.31pp gain absorbing the 4pp promoter reduction. By Jun 2026, DII stake reached 10.97%. Combined FII+DII rose from ~9% to ~20.5% over two years. This is the signature of a block sale (OFS-style) to institutional shareholders at prevailing prices, not a distressed unwind. What the surface reading misses. The surface reading is: OCF/PAT fell from 1.34 (3-year trend) to 1.01 in FY26, suggests cash conversion is deteriorating The research reads it further: Cash profit was ₹411 Cr (PAT ₹297 Cr + depreciation ₹114 Cr). OCF was ₹301 Cr. The ₹110 Cr gap is working-capital absorption, primarily inventory days rising from 34 to 41 (8 additional days on ₹4,176 Cr revenue = ~₹92 Cr inventory build). Debtor days held at 26 days (no receivable inflation). CCC improved from 22 to 18 days overall. CWIP rose from ₹65 Cr to ₹152 Cr, physical plant construction underway. The cash story is growth wc plus capex: operating cash is being reinvested in plant and inventory for the ramp, not leaking. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did ASK Automotive management deliver what it promised? What ASK Automotive Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Growth Guidance Raised from Mid-Teens to High-Teens · 5 August 2026. In the Jan 2026 call, management repeatedly framed mid-teens growth as its ongoing expectation. In the Aug 2026 call, management materially raised the outlook to high-teens full-year growth, citing recent momentum but without clearly quantifying the change in underlying assumptions. FY27 Capex Outlook Increased Materially · 5 August 2026. The Jan 2026 call guided to FY27 capex of no more than Rs. 400 crore, while the Aug 2026 call indicated that capex may reach Rs. 700 crore. Management attributed the increase to new orders and an urgently required southern plant, but did not reconcile this substantial revision with the prior FY27 guidance or distinguish committed spending from the contingent amount. Captive Solar Plant Commissioning Delayed · 5 August 2026. The Jan 2026 and Oct 2025 calls both expected the 11.55-megawatt Rajasthan captive solar plant to be operational by Q1 FY27. In the Aug 2026 call, management moved commissioning to Q2 FY27, a one-quarter schedule slip that was not accompanied by an explanation. Export Guidance Reversal · 29 January 2026. In the July 2025 call, management was explicitly confident about achieving 20% year-on-year growth in exports for FY26 despite geopolitical headwinds. However, in the January 2026 call, this guidance was completely retracted to flat growth (0%), with management admitting they only hope to reach last year's numbers due to tariff uncertainties. Earlier call (Jul 2025): “However, we are still confident that we will grow the exports at 20% year-on-year during FY26.” Later call (Jan 2026): “FY26 exports, as I mentioned, will be flat... However, based on the Q3 FY26 performance, we feel that we will reach last year”. Every quote above is taken word for word from the company’s own earnings calls. ## What is ASK Automotive management's track record? Core operating growth and Karoli ramp were delivered; exports missed and launch dates slipped. Spending increased with a stated order-driven reason, and the inherited original call acknowledges the export miss: mixed delivery, with no qualifying huge unowned central miss or lie. A complete earlier downturn is not documented. ### Regulatory and governance record

The fresh sweep returns routine trading-window and compliance filings, not a substantiated fraud, lie or qualifying conduct case. Sources:

- [inve.money](https://inve.money/concalls/ASKAUTOLTD/q1-2027)
- [askbrake.com](https://askbrake.com/wp-content/uploads/Intimation_PIT.pdf)
- [economictimes.indiatimes.com](https://economictimes.indiatimes.com/ask-automotive-ltd/directorsreport/companyid-38442.cms)

(Checked 14 October 2026.)

## How much does ASK Automotive earn on its capital? ASK Automotive Ltd earned a ROCE of 25% in FY26. That is up from a low of 16% in FY22. Its return on capital used (ROIC) is 5.9 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 7.1% net margin and 1.63× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 7.1% net margin × 1.63× asset turnover × 1.95× leverage (assets divided by equity) ≈ 22.6% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 17.9% − 12.0% = +5.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. ## Does ASK Automotive have too much debt? ASK Automotive Ltd has total debt of ₹679 Cr against shareholder equity of ₹1,311 Cr as of Jun 2026, so its debt is 0.52× its equity. Year by year, that ratio went from 0.51 in FY23 to 0.52 in FY26. Keep that borrowing in mind when reading the returns on this page. Why this happened. The operating-leverage catapult applies: Karoli's large fixed-cost base is installed and paid for, so each additional ₹100 Cr of revenue flows through at a meaningfully higher incremental margin than the average OPM of 12%. Karoli monthly revenue reached ₹110 Cr (C023) with more than 1,500 employees recruited. Management guided Karoli to 80% utilization and the south-Bangalore plant operational before March 2027 (C026). The constraint is now filling the plants, not building them. ## What is the ASK Automotive shareholding pattern? Domestic institutions raised their stake in ASK Automotive Ltd by 6.6 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 11.1% of the company. Promoters moved −4.0 points over the same period, to 75.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +6.6 points over 8 quarters, to 11.1%; Promoters: −4.0 points over 8 quarters, to 75.0%; Foreign institutions: +0.8 points over 8 quarters, to 9.9%. Why the owners changed: domestic institutions drove it (+6.6 points), with the other side taken by promoters (−4.0 points). They raised their stake step by step. ## How far is ASK Automotive from balance-sheet trouble? For ASK Automotive Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does ASK Automotive rank in its industry? 66.3 out of 100, rank 2 of 4 in Auto Ancillaries - 2 Wheelers, with 78% of the evidence available. ASK Automotive Ltd scores 66.3 out of 100 against the 4 companies it is compared with in Auto Ancillaries - 2 Wheelers, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.2 + 20.9 + 11.7 + 12.5 = 66.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is ASK Automotive compared with? ASK Automotive ranks 2 of 4 Auto Ancillaries - 2 Wheelers companies on the 4-Factor Sector Score, with 66.3 out of 100. 1. [Pricol Ltd](https://www.sectoralpha.in/stocks/pricol-ltd) PRICOLLTD · losing its lead · Most evidence points up · 93% evidence 69.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.2/35 · Revenue 43.2% · Profit 56.7% · Operating margin change 0 points · 88% evidence Capital efficiency 17.6/25 · ROCE 24.5% · Operating margin 11% · 100% evidence Valuation 16.6/20 · P/E 29.3× · PEG 0.57 · 85% evidence Relative strength 6.3/20 · Lead over its industry -3.5% · Lead over NIFTY 500 7.4% · 1 year 21.7% · 100% evidence · 11 of 12 weeks ahead Exact sum: 29.2 + 17.6 + 16.6 + 6.3 = 69.7 · What this means: Earnings are strong; relative strength in its sector is -3.5% and the one-year return is 21.7%. 2. ASK Automotive Ltd this page ASKAUTOLTD · leader · Most evidence points up · 78% evidence 66.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.2/35 · Revenue 27.9% · Profit 23.4% · Operating margin change -1 points · 88% evidence Capital efficiency 20.9/25 · ROCE 25.4% · Operating margin 12% · 100% evidence Valuation 11.7/20 · P/E 35.3× · PEG 1.53 · 85% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 19.9% · 1 year 17.1% · 25% evidence · 12 of 12 weeks ahead Exact sum: 21.2 + 20.9 + 11.7 + 12.5 = 66.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [L G Balakrishnan & Bros Ltd](https://www.sectoralpha.in/stocks/l-g-balakrishnan-bros-ltd) LGBBROSLTD · breaking out · Evidence leans down · 97% evidence 49.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.2/35 · Revenue 21.1% · Profit -0.3% · Operating margin change -2 points · 100% evidence Capital efficiency 18.6/25 · ROCE 19.6% · Operating margin 15% · 100% evidence Valuation 9.0/20 · P/E 16.7× · PEG 1.45 · 85% evidence Relative strength 9.6/20 · Lead over its industry -9.2% · Lead over NIFTY 500 2.3% · 1 year 18% · 100% evidence · 10 of 12 weeks ahead Exact sum: 12.2 + 18.6 + 9 + 9.6 = 49.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Belrise Industries Ltd](https://www.sectoralpha.in/stocks/belrise-industries-ltd) BELRISE · losing its lead · Evidence leans down · 86% evidence 47.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.5/35 · Revenue 11.7% · Profit 28% · Operating margin change 0 points · 88% evidence Capital efficiency 14.4/25 · ROCE 14.5% · Operating margin 12% · 100% evidence Valuation 9.4/20 · P/E 39.1× · PEG 1.83 · 50% evidence Relative strength 5.0/20 · Lead over its industry -5.1% · Lead over NIFTY 500 5.3% · 1 year 37.1% · 100% evidence · 5 of 12 weeks ahead Exact sum: 18.5 + 14.4 + 9.4 + 5 = 47.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Auto Ancillaries - 2 Wheelers](https://www.sectoralpha.in/sectors/auto-ancillaries-2-wheelers), all 4 compared on one page. ## Which companies are close to ASK Automotive in size? ASK Automotive is the 2nd largest of 4 Auto Ancillaries - 2 Wheelers companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Belrise Industries. Just below it: Pricol and L G Balakrishnan & Bros. ### Auto Ancillaries - 2 Wheelers companies close in size

1. [Belrise Industries Ltd](https://www.sectoralpha.in/stocks/belrise-industries-ltd) ₹19,966 crore
2. ASK Automotive Ltd ₹11,164 crore
3. [Pricol Ltd](https://www.sectoralpha.in/stocks/pricol-ltd) ₹7,850 crore
4. [L G Balakrishnan & Bros Ltd](https://www.sectoralpha.in/stocks/l-g-balakrishnan-bros-ltd) ₹5,336 crore

[All 4 Auto Ancillaries - 2 Wheelers companies, largest first](https://www.sectoralpha.in/sectors/auto-ancillaries-2-wheelers#all-companies)

### Companies close in size in other industries

1. [Aditya Birla Real Estate Ltd](https://www.sectoralpha.in/stocks/aditya-birla-real-estate-ltd) ₹11,213 crore · Realty - National
2. [Home First Finance Company India Ltd](https://www.sectoralpha.in/stocks/home-first-finance-company-india-ltd) ₹11,210 crore · Finance - Housing
3. ASK Automotive Ltd ₹11,164 crore
4. [DOMS Industries Ltd](https://www.sectoralpha.in/stocks/doms-industries-ltd) ₹11,067 crore · Printing & Stationery
5. [JBM Auto Ltd](https://www.sectoralpha.in/stocks/jbm-auto-ltd) ₹11,060 crore · Auto - Bus/LCVs

## What else do people ask about ASK Automotive? ### What is ASK Automotive's share price today? ASK Automotive Ltd's share price is ₹579.55, +26.2% over the past year. The whole company is worth ₹11,431 Cr on the market. In the last 52 weeks it traded between ₹392 to ₹656; today it is 71% of the way up from the low, 9.3% above its 200-day average (as of 4 November 2026). ### What were ASK Automotive's latest quarterly results? ASK Automotive Ltd reported revenue of ₹1,358 Cr and net profit of ₹85.0 Cr for the Jun 2026 quarter. Revenue rose 52.4% and profit rose 28.8% compared with a year earlier. Earnings per share were ₹4.32. The operating margin was 12.0%, 1.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is ASK Automotive's market cap? ASK Automotive Ltd's market capitalisation is ₹11,431 Cr at a share price of ₹579.55. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is ASK Automotive performing? ASK Automotive Ltd's share price has been rising for 15 weeks. In its latest quarter, revenue rose 52.4% and profit rose 28.8% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 2 weeks running (as of 4 November 2026). ### Will ASK Automotive's share price go up? This page does not forecast ASK Automotive Ltd's share price. What it shows instead: the share price is ₹579.55, and it has been rising for 15 weeks. Its P/E of 36.1× is higher than 41% of its own last 3 years (as of 4 November 2026). ### Who owns ASK Automotive? Promoters own 75.0% of ASK Automotive Ltd, foreign institutions 9.9%, domestic institutions 11.1% and the public 4.0% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 6.6 percentage points over 8 quarters (as of 4 November 2026). ### Where is ASK Automotive in its business cycle? ASK Automotive Ltd's FY26 operating margin was 13.0%, against a 8-year range of 8.0% to 13.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 12.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the ASK Automotive story? The main question: promoters moved −4.0 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is ASK Automotive a stock worth studying right now? What the numbers show: ASK Automotive Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a ASK Automotive share price forecast for 2026? What management itself guided: FY27 consolidated revenue growth in the high teens, with momentum expected throughout the year. One change in ASK Automotive's own numbers looks lasting: market share gains. Also showing up, but too early to call lasting: costs spread over more sales and a bigger market to serve. What would change the story: If Karoli utilization is still below 65% in the December 2026 concall and revenue growth falls below 12% for two consecutive quarters, the new plant is not converting orders to revenue at the guided pace and the core operating-leverage argument breaks. ### Where does this page get ASK Automotive's management information? From ASK Automotive's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

This is research, not advice. We’re not SEBI-registered.