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companylogoASK Automotive Ltd

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BSE Code : 544022 | NSE Symbol : ASKAUTOLTD | ISIN : INE491J01022 | Industry : Auto Ancillaries |


Chairman's Speech

Dear Shareholders,

It gives me great pleasure to share our journey and progress through this annual report, our first full year as a listed company. This milestone is more than symbolic. It reflects our evolution from a strong, family-built business into a publicly trusted enterprise, delivering value with consistency and conviction.

FY25 was not just a year of numbers but a year of validation. We scaling up operations, strengthened fundamentals, explored new frontiers and delivered record financial performance, all while staying true to our ethos of engineering precision, operational excellence and Long-term strategic mindset.

Results that matter

We closed the year with consolidated revenue of 3,600 crore, reflecting a growth of 20.2% over FY24. More meaningfully, our profitability expanded at a sharper pace. EBITDA grew by 42.7% to 444 crore, and PAT grew by 42.5% to 248 crore. Our EBITDA margin reached 12.3%, the highest in our history. These numbers are the outcome of our discipline in execution, thoughtful scaling up and an organisation-wide focus on efficiency.

Our earnings per share increased from 8.8 to 12.6, and our capital structure improved further with debt-equity ratio came down to 0.38 from 0.42 in FY24, reinforcing our strong financial foundation for the future growth.

Deepening the core

Our leadership in Advanced Braking Systems remained firm, with over 50 % market share. Revenue from this segment at 16 %, driven by enduring relationships with leading OEMs and growing traction among electric two-wheeler customers.

The growth momentum was even stronger in our Aluminium Lightweighting Precision Solutions business. This segment accounted for more than 45 % of our revenue and grew by 28 % during the year. As lightweighting and thermal management become essential across platforms, our aluminium engineering Capabilities are increasing in demand domestically and internationally.

Safety Control Cables also delivered healthy growth of 14 %, backed by stronger OEM penetration and deeper Independent Aftermarket reach.

Strengthening our foundation

This year, key investments began to deliver results. We commissioned our 18th manufacturing facility in Bengaluru, improving access to OEMs in the South and enhancing logistical efficiency. At our Karoli plant, production ramped up steadily, supporting margin improvement through better utilisation.

We also commissioned a 9.9-megawatt solar power plant in Sirsa, Haryana. This project will meet a part of our captive energy needs while reducing our carbon footprint. These initiatives reflect our approach of building Smart and Sustainable capacity that is prepared for the future.

Expanding horizons

FY25 also marked the beginning of two meaningful collaborations.

We entered into a joint venture with AISIN Group of Japan, a leading global auto component manufacturer, to participate in the independent aftermarket segment for components of passenger car products The early response, including at the Bharat Mobility Global Expo, has been positive, and we are excited to scale this partnership in the coming year.

In addition, we signed a technical collaboration with Kyushu Yanagawa Seiki of Japan (KYSK) to produce high-pressure die-cast alloy wheels for two-wheelers. This collaboration aligns with our aluminium expertise and allows us to enter a fast-growing, design-led category.

Both alliances are long-term moves, aimed at strengthening our presence across high-value and high-potential product segments.

Built for new mobility

While our products serve both ICE and EV platforms, we are seeing increasing traction in the electric mobility space. Today, ASK supplies components to nearly 80 % of India's top two-wheeler EV OEMs. Revenue from EV-linked products contributes over 4 % to our overall revenue. As EV adoption increases, we are well-positioned to grow with it.

Taking Indian quality global

Our exports contributed 4.1 % of total revenue this year. Despite a slowdown in some international markets. Export is our key focus area and part of our growth strategies.

Margins with meaning

Even in a year marked by input cost volatility and external uncertainties, our EBITDA margin improved by 190 basis points, rising from 10.4 % in FY24 to 12.3 % this year. This progress was driven by better utilisation at new plants, tighter cost control and continued operational excellence.

We believe these efficiencies will sustain and strengthen further as our large-scale facilities stabilise and reach higher output levels.

The power of our people

More than any number or milestone, it is our people who drive the ASK Journey forward. Across 18 plants and offices, our teams showed extraordinary focus, discipline and pride in their work. We continued to invest in building a culture where ownership is encouraged, safety is embedded, and integrity is uncompromised.

This people-first approach defines how we work with our customers, our suppliers and our communities. It is what gives us our edge.

Looking ahead

In FY26, our focus will be on strengthening our leadership in the two-wheeler systems space, scaling alloy wheels and passenger car components and executing on our alliances with AISIN and KYSK. We will continue to build exports and invest in renewable energy, digitised operations and smart capacity additions. Everything we do will be guided by our commitment to grow responsibly and deliver enduring value.

To all our stakeholders, thank you. Your trust, partnership and belief in our vision continue to inspire us. With your support, we are confident that ASK will keep moving forward with focus, humility and ambition.

Warm regards,

Kuldip Singh Rathee

Chairman and Managing Director

ASK Automotive Limited

   

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