This article first appeared on GuruFocus .
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Consolidated Revenue Growth (Q4 FY26):35.3% year on year.
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Net Revenue Growth (Q4 FY26):30% year on year, excluding pass-through impact and strategic reduction.
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EBITDA (Q4 FY26):INR 140 crores, 31.1% year on year growth.
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EBITDA Margin (Q4 FY26):12.1%, impacted by pass-through Alloy Prices.
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PAT (Q4 FY26):INR 72 crores, 24.2% year on year growth.
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EPS (Q4 FY26):INR 3.63, up 24.2% year on year.
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Consolidated Revenue Growth (FY26):16.2% year on year.
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Net Revenue Growth (FY26):20.1% year on year, excluding pass-through impact and strategic reduction.
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EBITDA (FY26):INR 551 crores, 24.1% year on year growth.
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EBITDA Margin (FY26):13.1%, impacted by pass-through Alloy Prices.
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EPS (FY26):INR 15.08, up from INR 12.56 last year.
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Advanced Braking System Revenue Growth (Q4 FY26):32% year on year.
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Aluminum Lightweighting Precision Solutions Revenue Growth (Q4 FY26):47% year on year.
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Safety Control Cable Revenue Growth (Q4 FY26):26% year on year.
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Export Revenue (FY26):INR 141 crores, down from INR 147 crores last year.
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ROAC (FY26):26.9%.
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ROE (FY26):25.3%.
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Dividend:92.5%, INR 1.85 per equity share.
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Release Date: May 20, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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ASK Automotive Ltd ( NSE:ASKAUTOLTD ) reported a strong consolidated revenue growth of 35.3% in Q4 FY26.
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The company achieved an EBITDA of INR140 crores with a 31.1% year-on-year growth.
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ASK Automotive Ltd's independent aftermarket segment grew by 24.7% in FY26, benefiting from GST rate reduction.
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The company's 9.9 megawatt solar plant at Sirsa, Haryana is fully operational, reflecting a focus on green energy.
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The company maintained its market leadership in the Advanced Braking System with a revenue growth of 32% in Q4 FY26.
Negative Points
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The geopolitical conflict in West Asia has disrupted the global economy, affecting supply chains and creating volatility.
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Aluminum Alloy Prices have increased significantly, impacting the company's margins.
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Export revenues decreased to INR141 crores in FY26 from INR147 crores last year due to trade disruptions.
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The company's EBITDA margin was impacted by the pass-through of Alloy Prices, reducing the margin by 80 basis points.
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Recent increases in minimum wages by state governments have created input cost pressures for the industry.
Q & A Highlights
Q: Is there any deficiency in margins other than the 80 bps impact of pass-through of Alloy Prices in Q4 FY26? A: The main impact on margins was due to the sharp increase in Alloy Prices, particularly in March. This affected Q4 margins as some price increases could not be passed on immediately, especially in the aftermarket. However, from April onwards, all price increases have been passed on to customers. - Kuldip Rathee, Managing Director
Q: What is the outlook for FY27 for the 2 Wheeler industry production volume growth? Are there any production cuts by OEMs? A: OEM customers are maintaining their original production schedules, indicating growth. We expect to maintain an EBITDA margin of 13.1%, barring any significant changes in Aluminum prices. - Kuldip Rathee, Managing Director
Q: What has driven the 25% year-on-year growth in the independent aftermarket segment in FY26? A: The reduction of GST from 28% to 18% allowed us to capture more market share from gray market operators, driving significant growth in the independent aftermarket. We expect continued growth in this segment. - Kuldip Rathee, Managing Director
Q: What is the export outlook for FY27, and are there any new order wins? A: We are confident of achieving 20% growth in exports, provided geopolitical conditions remain stable. We have orders in hand to support this growth. - Kuldip Rathee, Managing Director
Q: What is the CapEx plan for FY27, and are there any new investments planned? A: We plan to invest around INR400 crores in FY27, primarily for new plant capacities. This investment will support our growth targets and new product launches. - Kuldip Rathee, Managing Director
Q: Have there been any production disruptions in Q1 so far? A: There have been no production disruptions, and customer orders remain robust. - Kuldip Rathee, Managing Director
Q: How does the rise in alloy prices affect conversations with OEMs regarding the use of Aluminum versus steel? A: In the 2 Wheeler segment, there have been no discussions about switching from Aluminum to steel due to price differences. - Kuldip Rathee, Managing Director
Q: What would be the impact of a deficient monsoon on your business? A: A deficient monsoon could affect agricultural income, but it's difficult to quantify the impact. Historically, we have not seen significant effects from monsoon variations. - Kuldip Rathee, Managing Director
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
