ASK Automotive Ltd

Retirement of President – Advanced Breaking Systems

• Retirement of Mr. Harveer Singh effective 30 September 2026.
• Cessation as Senior Management Personnel from the close of business hours on 30 September 2026.
• Reason: retirement.
• Term of appointment: not applicable.

ASK Automotive Limited — Trading window closure from Oct 1, 2026 until completion of 48 hours after the declaration of the Unaudited Financial Results for the quarter ending September 30, 2026.

Parties

• Lender: ASK Automotive Limited.
• Borrower: ASK Automobiles Private Limited (100% subsidiary).

Transaction details

• Purpose: Inter-company loan.
• Amount: Rs 100 crore.
• Nature: Unsecured loan.
• Tenure: As per loan agreement.
• Interest: Repo rate + 2.5% p.a.
• Security: Nil (unsecured).
• Special rights: None; no director appointments or pre-emptive rights.

Related party status

• Related party: Yes; subsidiary owned 100% by ASK Automotive Limited.
• Transaction at arm's length.

Impact and disclosures

• Current total intercompany loan outstanding: Rs 489.84 crore.
• Fresh loan sanctioned: Rs 100 crore.
• Impact: Increases intercompany borrowings to subsidiary.
• Regulatory/disclosures: Regulation 30 filing; no other approvals stated.
• Termination/amendment: Not applicable.

Meeting Details

• Date and time: Sep 28, 2026, during business hours.
• Type/Mode: Group, in-person at Grand Hyatt, Mumbai.
• Event/Organizer: Nuvama Emerging India CEO Forum; Organizer: Nuvama Institutional Equities.

Participants

• Key participants: Company management and officials.

Purpose

• General investor interaction at Nuvama Emerging India CEO Forum.

ESG rating update

• SES ESG upgraded ASK's rating from 67.5 to 69.0 (FY24-25 to FY25-26).
• ASK did not engage SES; report prepared independently from public-domain data.
• Notice dated September 11, 2026.

Financial Performance

• Consolidated revenue rose 52.1% YoY in Q1 FY27.
• Excluding alloy price passthrough, revenue grew 33.4%.
• Overall net revenue grew 25.3% YoY.
• EBITDA stood at Rs. 164 crore, up 32.7% YoY.
• EBITDA margin was 12%.
• PAT was Rs. 85 crore, up 28.8% YoY.
• EPS rose to Rs. 4.32.

Segment performance

• Advanced braking system revenue grew 48% YoY in Q1 FY27.
• Aluminium lightweighting solutions revenue grew 75% YoY.
• Safety control cables revenue grew 20% YoY.
• Exports revenue Rs. 39 crore vs Rs. 33 crore prior year.
• AISIN JV ramping up; profitability by end of this year quarter.
• Wheel assembly revenues nil from 1 Apr 2026.
• Ford export orders expected Rs. 40–45 crore this year; Rs. 60 crore next year.
• Orders broad-based; EV share increasing.

Capex and capacity

• Capex guidance for the year raised to ~Rs. 700 crore.
• Earlier guidance around Rs 450–500 crore.
• South plant to be set up in Bangalore; March completion.
• Karoli utilization rose to about 75%; target 80% in Q4.
• Bangalore plant near optimum capacity; new South plant required.
• FY27 capex guidance around Rs 700 crore; external borrowings expected.

Funding and Balance Sheet

• Debt rose in Q1 due to higher working capital.
• Internal accruals expected to fund high mid-teen growth.
• Term loans planned for capex machinery.
• Debt-equity target to remain under 0.5.
• Q2 results to provide updated balance-sheet details.

Green Energy & Operations

• 9 MW solar plant at Sirsa fully operational.
• Second 11.55 MW solar plant at Bikaner ready; commissioning in Q2 FY27.
• Payback period for solar investments estimated at 5–5.5 years.
• Energy cost savings not quantified.

Outlook and Guidance

• Industry production up 22.1% YoY in Q1 FY27.
• Two-wheeler production grew 22.8% YoY; rural demand supports.
• Expect high-teens growth for H2 FY27.
• Gross margin target around mid-30s; EBITDA 13.5–14% in coming quarters.
• Exports growth guidance: 20% in FY27.
• Margin strength aided by alloy price normalization.

Q&A Highlights

• Alloy pass-through is complete; no lag pending.
• Orders Rs 70–90 crore this year; Rs 250 crore next year.
• Ford export orders Rs 40–45 crore this year; Rs 60 crore next year.
• AISIN JV profitability expected by end of this year quarter.
• Margin trend linked to commodity prices; EBITDA driven by volumes.
• EV penetration rising; base customer underperformance distorts growth.
• Sunroof cables and EV products expected to contribute next year.
• Capex plan and debt outlook to be reviewed in Q2 results.

AGM Details

• AGM held on Friday, August 7, 2026 at 12:00 A.M. IST via VC/OAVM.
• Voting results and Scrutinizer’s Report were filed.

AGM Details

• Date/time: 07 August 2026, 12:00 PM IST; mode: VC/OAVM.
• Quorum: 127 members attended.
• Remote e-voting: Aug 3–6, 2026; results to be declared.
• Scrutinizer appointed for e-voting.
• Voting results to be announced and deemed passed on AGM date upon sufficient votes.

Key Resolutions

• Ordinary: Adopt audited standalone and consolidated financial statements for FY2026.
• Ordinary: Declare final dividend on equity shares for FY2026.
• Ordinary: Re-appoint Vijay Rathee as Director, liable to retire by rotation.
• Ordinary: Re-appoint Rajesh Kataria as Director, liable to retire by rotation.
• Special: Ratify Cost Auditors' remuneration for FY2026-27.

Dividend

• Final dividend on equity shares for FY2026 to be declared.

Director Changes

• Re-appoint Vijay Rathee as Director, liable to retire by rotation.
• Re-appoint Rajesh Kataria as Director, liable to retire by rotation.

Auditor Appointments

• Cost Auditors' remuneration for FY2026-27 ratified.
• No changes to Statutory, Secretarial, or Internal Auditors disclosed.

Meeting Details

• Date: August 5, 2026.
• Type/Mode: Investors/analysts call (post-results).
• Organizer: ASK Automotive Limited.
• Purpose: Discuss unaudited Q1 FY27 results for quarter ended June 30, 2026.
• Recording: Audio recording available; link provided in filing.