Global Automotive Industry – In FY-23, the car sales at world level was observed strong growth after remaining stable in previous year, FY-22 increasing by almost 10% and crossing 75 million units as distribution channel was made convenient. Moreover, various other factors have boost the expansion of the sector, including improvement in modern technology and changing requirements of end-users. As a result, the automotive sector has gone through many transitions to fulfill huge market requirements, with original equipment manufacturers (OEMs) and EV solutions providers giving priority by adopting modern trends to maintain proper competition.
Even though there is huge inflation and increasing interest rates, the car sales volume in North America remained stable in FY-23 with the region facing 15% increment. Passenger car sales in South American region were over 2.8 million units in FY-23, which remained stagnant compared to FY-22, where growth was made basically by Brazil.
Asia – The sale of Japanese cars increased by 15.8% in FY-23. South Korea observed moderate growth of 5.2% due to government’s cancellation of tax relief support in June 2023. China maintains strong position as largest seller at global level with 30.9 million units sold in FY-23. This sale includes exports made, which increased from 585 to 4.91 million units. Out of total car sales at world level, China has captured market share of 31%.
Global two-wheeler market – The two-wheeler market at the global level is forecasted to increase at a CAGR of 7.2% during projected period of 2024 to 2032. The sale of electric model increased by 30% by commanding market share of 15%. The market size in North America increased by 10% by focusing on best quality electric models. The technology interconnection has played main role. Almost 40% of new models introduced in 2023 have latest functions and modern safety features. Europe has captured 15% market share and is observing a huge increment in consumption of Electric Vehicles (EVs) due to strict emission guidelines. The Asia-Pacific region, which has captured 60% of market share controlled by India and China, the top players in two-wheeler segment.
Indian Automotive Industry – The automobile sector is one of the basic drivers in Indian economy, which contributes 35% of manufacturing of GDP and 6% of Indian GDP. India is the largest manufacturer of two-wheelers (2W) and third-largest producer of passenger vehicles. The country has recorded stable growth in manufacturing of automobiles in past few years.
Two-wheelers – The company has attained huge sales volume of 21.43 million units in FY-24, the market size of two-wheelers showed increment of 9.8%. It is forecasted to increase 23 million units in FY-25 wth forecasted growth rate of 9%. Moreover, it will cross the mark of pre-covid high of 24 million units.
Three-wheelers: India is one of the largest market for three-wheelers out of all Asian countries. The sales achieved by 3-wheeler segment were 0.99 million units in FY-24 with a growth rate of 16.1%.
Passenger vehicles (PV) – The sales achieved by passenger vehicles was about 7.4% at 4.89 million units in FY-24. Due to increase in urbanization, rise in disposable incomes, development of better road infrastructure, and rise in customer expectations have led to growth of passenger vehicles in India. The market share of SUVs is increasing and is forecasted to rise in future.
Commercial Vehicles (CVs) – The sale of commercial vehicle was recorded at 1.03 million units in FY-24 dropped by 0.71%.
Ask Automotive Ltd – Key Points
Name of the promoter
Mr. Kuldip Singh Rathee
Industry
Automotive component
Established
1989
Headquarters
Gurgaon, Haryana
Employees
7000+
R&D and Engineering talent pool
100+
Proprietary formulations
52
Ask Automotive Ltd – Statistics
Market cap
Rs 7,886 crores
ROCE
24.2%
ROE
23.8%
Stock PE
33.2
Book value
Rs 46.7
Face value
Rs 2
About Ask Automotive Ltd
The company has over 30 years of deep experience and knowledge, Ask Automotive is top player in market in Advanced Braking Systems for 2 wheeler with 52 proprietary customized as per requirement of Original Equipment Manufacturer (OEM), Original Equipment Supplier (OES), and independent aftermarket. In the Aluminium Lightweight Precision Solutions segment, the company has extensive design centre, strong engineering capabilities, and a Tool room facility which has occupied well-known position to capture amazing opportunities in the light weight and thermal management sector. At present, company gives priority in capitalising on increasing adoption of EVs in India by giving preference to Lightweight and Thermal management to minimize carbon emissions.
In the Safety Control cable category by taking benefits of modern technology and strong distribution channel of 400+ dealers in India, the company has achieved strong increment of over 30% in OEM and aftermarket. The ASK vision to encourage amazing collaborations and partnerships has encouraged the company manage robust network with customers of OEM out of which some are nearly 30 years old. Moreover, the company is increasing its product portfolio and entering into new markets such as Die-casted Two-wheeler Alloy-wheels segment with systematic partnership with Taiwan LIOHO Machine Works Ltd. Moreover, a new joint venture with AISIN Group one of the top 10 automotive supplier has vision to develop strong marketing and sales of Passenger car products in independent aftermarket in both national and global markets.
The company has provided amazing growth in above categories, the company is now increasing its distribution channel in international markets. The company is looking to grab export opportunities by presenting best quality products to automotive and non-automotive customers in USA and Europe markets. To fulfill requirements in future, the company has developed strong production capacities and has setup 18th manufacturing unit in Karnataka to provide its customers to southern India.
The company is largest producer of two-wheeler Advanced Braking Systems in India is looking to enhance its highest and lowest revenue growth in future following the successful execution of these plans. The company has supported its strength including Powertrain Agnostic Product offerings, two joint ventures, four best technical partnerships at global level, in-house engineering, proprietary material fomulations, Design Centre and Tool Room along with long-lasting customer relations and well-known aftermarket, the company is looking to build genuine value to stakeholders.
The company has customized genuine track record in distributing critical safety systems and complicated precision engineering solutions customized for Original Equipment Manufacturer (OEM), Independent Aftermarket (IAM), Original Equipment Spares (OES). The company has given preference to improvement in product to deliver customized solutions that fulfills customered needs. Modern technology and imporvement in product plays key role in building safety systems and complex solutions related to engineering. The best quality products are designing components that work with unique technologies and are take benefit by four world class technical collaborations and international collaboration by way of joint venture. The skilled team of in-house engineering capabilities, tool room, and design centre facility assures building high-precision components and grab the scope in lightweighting and Precision Solutions (ALPS) business sector.
As a critical safety producer, the company has developed strong image as top manufacturers of Safety Control cables such as rear brake, speedometer, front brake, and clutch cable assemblies. The advanced manufacturing unit is systematically located close to OEM customers. The company consistently scale its production capacity to fulfill requirements of customers. The company has strong relations with marquee Indian and Global OEMs with a range from 17 to 31 years by delivering them best quality products wth deliveries on time with affordable prices. As we move ahead, the company is given priority to develop strong position in rising EV segment in India, taking benefit of export markets by diversifying into product portfolio in ABS and ALPS segment and increasing market in Passenger Vehicle and Commercial Vehicle category.
The company has clear vision to shift towards renewable energy. The company has setup Mega Solar Power Plant of 9.9MWp in Haryana, Sirsa, for companies captive consumption. The company has made huge contribution towards growth in society developing charitable AHSAAS trust which works for Skill development, women security, health, education, green initiatives, rural and welfare development. The company has huge supply chain network of 400+ dealers to fulfill customers requirement in Independent aftermarket.
Business Segments
Aluminium Lightweight Precision solutions – The company is top manufacturer of safety systems and complex solutions related with engineering. The company has achieved expertise in critical machining, die casting, critical assemblies for both automotive and non-automotive applications, paint shop. The company concentrates on lightweight and heat maintaining which improves with aluminium-based precision solutions playing main role. The company provides end solutions from improving design to delivery supported by virtual simulations and engineering expertise.
Light weight is important for better vehicle performance which leads to fuel efficiency. The company takes benefits of aluminium properties as they are 40% lighter than ferroy alloys and having huge thermal conductivity. The company offers solutions for increased performance and safety particularly Battery Electric Vehicles. The ALP solutions of company fulfills various sectors such as internal combustion engine sectors and non-automotive sectors like power tools and outdoor instruments.
Safety Control Cables (SCC) – The company is top manufacturer of Safety Control cables with modern in-house R&D and testing centre. The company has technical collaboration with HSH Safety Control Cables Ind. Co. Ltd, Taiwan Serving national automobiles OEMs and OES in national and global markets. The variety includes control cables such as throttle cables, speedometer cables, front and rear brake cables, temperature controller, seat lock, fluid lid and choke cables fulfilling requirements to 2-wheeler OEMs.
Revenue and net profit
Particulars
FY-24 (Rs. in crores)
Sales
2,995
Expenses
2,694
EBITDA
301
Other income
27
Interest
29
Depreciation
69
Profit before tax
230
-Tax (%)
24%
Net profit
174
EPS in Rs.
8.81
Balance Sheet (FY-24)
Liabilities
Rs
Assets
Rs
Equity Capital
39
Fixed Assets
992
Reserves
777
CWIP
64
Borrowings
346
Investments
20
Other Liabilities
406
Other Assets
492
Total Liabilities
1,568
Total Assets
1,568
Shareholding Pattern (March 2025)
Promoters
78.95%
FIIs
9.94%
DIIs
4.95%
Public
6.16%
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Ask Automotive Ltd Share Price Target – 2025 to 2040
Year
Minimum price (Rs)
Average price (Rs)
Maximum price (Rs)
2025
406
429
452
2026
455
483
510
2027
514
545
576
2028
586
634
681
2029
685
737
789
2030
808
893
978
2035
1617
1781
1945
2040
2894
2959
3024
Ask Automotive Ltd Share Price Target – 2025
If market observes downward sentiments, the minimum projected price is estimated to reach Rs 406. The average trading price is projected to hit Rs 429 at the mid of the year. If market faces bullish sentiments, the maximum forecasted price is expected to hit Rs 452. The marketing strategy circulates around durable growth with present customers by increasing international reach in sectors like e-Mobility, Passenger Vehicle segment, Automatic Transmissions, Commercial Vehicles, power tools, and lawn movers. Moreover, company is looking to focus on specific category for Aluminium light-weight precision solutions. The vision includes to expand export business, interacting with short and long-term goals.
Ask Automotive Ltd Share Price Target – 2026
If market faces bearish sentiments, the minimum projected price is estimated to hit Rs 455. The average trading price is projected to hit Rs 483 at the mid of the year. If market observes bullish sentiments, the maximum forecasted price is anticipated to reach Rs 510. At manufacturing unit, the comapny has strong aim to manufacture best quality products. Moreover, the ompany has huge dedication to follow strict requirements of IATF 16949:2016 international standards for automotive maintaining best quality. The manufacturing process is accurately developed to integrate extensive quality reviewing and audit each stage. These guidelines assures that products fulfill industry’s criteria on regular basis, thereby providing best quality results in business operations.
Ask Automotive Ltd Share Price Target – 2027
If market bearish sentiments, the minimum forecasted price is estimated to reach Rs 514. The average trading price is forecasted to hit Rs 545 at the mid of the year. If market observes bullish sentiments, the maximum projected price is estimated to touch Rs 576. The company gives strong commitment to imrove its products by enhancing technology. The company has modern capabilities, the company provides mobility solutions and flexible for creative designs customized to fulfill market requirements. The R&D product portfolio consists of 52 proprietary formulations and best quality formulations in-house design, sample, and design.
Ask Automotive Ltd Share Price Target – 2028
If market faces bearish sentiments, the minimum projected price is anticipated to hit Rs586. The average trading price is projected to hit Rs 634 at the mid of the year. If market observes bullish sentiments, the maximum forecasted price is expected to hit Rs 681. The engineering based strategy interconnects operations among product life, providing end solutions. The company gives preference to development of employee with extensive training and development programs fulfilling requirements of individuals. By investing in growth of employees, the company assures that it has tools and knowledge to perform better and make huge contribution in growth of company.
Ask Automotive Ltd Share Price Target – 2029
If market faces downward sentiments, the minimum forecasted price is expected to hit Rs 685. The average trading price is projected to hit Rs 737 at the mid of the year. If market observes bullish sentiments, the maximum projected price is expected to touch Rs 789. The company gives preference for maintaining account, regular checking of performance, and proactive enhancements to manage strong relationships with main customers. The company improves customer journey by entering into creative capabilities, providing amazing customer service and maintaining solutions that play main role assuring customer loyalty and capturing market share.
Ask Automotive Ltd Share Price Target – 2030
If market faces downward signals, the minimum projected price is anticipated to hit Rs 808. The average trading price is projected to hit Rs 893 at the mid of the year. If market observes bullish sentiments, the maximum projected price is estimated to hit Rs 978. The company has created one stop solutions from design to delivery and interconnected architecture which provides customer support. To manage high-volume components effectively, the company has made huge investments in number of systems by interconnecting machines. The modern technology supports for extra components which shows huge passion in amazing manufacturing strategies.
Ask Automotive Ltd Share Price Target – 2035
If market faces bearish sentiments, the minimum projected price is expected to hit Rs 1617. The average trading price is projected to hit Rs 1781 at the mid of the year. If market observes bullish sentiments, the maximum projected price is anticipated to touch Rs 1945. The company assures effective and fair procurement process to mangage zero defect suppliers while maintaining legal rules and genuine standards. the company assures best quality by performing proper audit and checking. The company has made consistent improvement in Electric Vehicle sector in areas of thermal management. Aluminium content is used more in EV by 30 to 50% due to light in weight and improves fuel efficiency.
Ask Automotive Ltd Share Price Target – 2040
If market faces bearish sentiments, the minimum projected price is estimated to hit Rs2894. The average trading price is forecasted to hit Rs 2959 at the mid of the year. If market observes bullish sentiments, the maximum forecasted price is expected to touch Rs 3024. The product portfolio is not restricted to any specific EV model rather we focus on delivering light weight and thermal management capabilities to fulfill EV requirements. The company has strong product portfolio created particularly for EV Origianl Equipment Manufacturers (OEMs).
FAQs
Q1) Who is the owner of Ask Automotive Ltd?
Ans – The owner of Ask Automotive Ltd is Mr. Kuldip Singh Rathee.
Q2) Who is the turnover of Ask Automotive Ltd?
Ans – The turnover of Ask Automotive Ltd in FY-19 was Rs 1,785 crores which has increased to Rs 2,995 crores which has FY-24.
Q3) What is the debt-equity ratio of Ask Automotive Ltd?
Ans – The debt-equity ratio of Ask Automotive Ltd is 0.42 times.
Q4) Is Ask Automotive Ltd a debt-free company?
Ans –No,Ask Automotive Ltd is not a debt-free company. The Long-term borrowings is Rs 301 crores and short-term borrowings is Rs 82 crores. The company is earning sufficient profits to repay its debt in future.
Q5) Who are the competitors of Ask Automotive Ltd?
Ans –The competitors of Ask Automotive Ltd are: Gabriel India Ltd, Craftsman Automation Ltd, Fiem Industries Ltd, Bosch, Exide Industries, Samvardhana Motherson.
Q6) What is the business of Ask Automotive Ltd?
Ans –The company is involved in manufacturing of Aluminium Lightweight Precision solutions and Safety Control Cables (SCC), and is largest producer of two-wheeler Advanced Braking Systems with over 30 years of experience.
Q7) Is Ask Automotive Ltd a good share to buy?
Ans –Yes,Ask Automotive Ltd is a good share to buy for long-term purpose. The net profit of company in FY-19 was Rs 114 crores which has increased to Rs 174 crores in FY-24. The share price of company in FY-2023 was Rs 310 which has increased to Rs 405.55 in FY-25 generating returns of almost 30.76% in past 2 years.
