Is ASK Automotive a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that ASK Automotive Ltd is a good quality company .

Is ASK Automotive undervalued or overvalued?

The key valuation ratios of ASK Automotive Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is ASK Automotive share price return in the past 10 years?

Data is not available for this company

Is ASK Automotive a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of ASK Automotive Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

ASK Automotive Ltd - Stock Valuation and Financial Performance

Name: ASK Automotive
Brand: ASK Automotive

BSE: 544022 | NSE: ASKAUTOLTD | Auto Ancillary | Small Cap

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ASK Automotive Share Price

₹307.85 -7.90 -2.50%
as on 26-Apr'24 16:01

10 Year X-Ray of ASK Automotive:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	13.8%	15.4%	14.3%	12.8%	19.3%	20.4%	18.5%	15.2%	12.6%	17.4%	-
Value Creation Index ⓘ	0.0	0.1	0.1	-0.1	0.4	0.5	0.4	0.1	-0.1	0.3	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	654	843	879	1,004	1,578	1,785	1,645	1,544	2,013	2,555	2,555
Sales YoY Gr.	-	28.9%	4.3%	14.2%	57.2%	13.2%	-7.9%	-6.1%	30.4%	26.9%	-
Adj EPS ⓘ	2.1	2.6	2.8	2.9	5.2	6.4	5.8	4.9	4.4	6.8	6.9
YoY Gr.	-	23.6%	7.6%	3.9%	77.1%	24.1%	-9.6%	-16.7%	-10.3%	56.1%	-
BVPS (₹) ⓘ	12.4	15	17.8	21	19.7	24.6	26.7	32	33.1	35	83.6
Adj Net Profit ⓘ	37.6	46.5	50.2	52.2	92.4	115	118	98.8	87.4	134	136
Cash Flow from Ops. ⓘ	69.3	64.1	144	83.6	246	176	247	136	145	152	-
Debt/CF from Ops. ⓘ	1.8	2.1	0.9	2	0.7	1.7	0.6	0.4	0.7	1.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	16.4%	10.1%	15.8%	26.9%
Adj EPS ⓘ	13.8%	5.5%	5.3%	56.1%
BVPSⓘ	12.2%	12.2%	9.6%	5.7%
Share Price	-	-	-	-

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	17	19.1	17.2	15.1	25.5	29.1	24.2	16.6	13.3	19.7	11.6
Op. Profit Mgn % ⓘ	10.4	12.5	12.5	11.8	11.9	12.2	12.7	11.8	8.4	9.2	10
Net Profit Mgn % ⓘ	5.8	5.5	5.7	5.2	5.9	6.4	7.2	6.4	4.3	5.2	5.3
Debt to Equity ⓘ	0.6	0.5	0.4	0.4	0.5	0.7	0.3	0.1	0.2	0.2	-
Working Cap Days ⓘ	0	103	103	97	73	64	69	84	82	78	15
Cash Conv. Cycle ⓘ	0	24	29	31	26	25	19	15	19	22	2

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 15.83%

Return on Equity has declined versus last 3 years average to 11.60%

Net Profit has been subdued in last 3 years 5.27%

Sales growth is not so good in last 4 quarters at 5.53%

Latest Financials - ASK Automotive Ltd.

	Standalone	Consolidated
TTM EPS (₹)	6.9	6.2
TTM Sales (₹ Cr.)	2,555	2,555
BVPS (₹.) ⓘ	83.6	80.5
Reserves (₹ Cr.) ⓘ	1,609	1,548
P/BV ⓘ	3.69	3.83
PE ⓘ	44.68	49.42

From the Market
52 Week Low / High (₹)	240.70 / 334.90
All Time Low / High (₹)	240.70 / 334.90
Market Cap (₹ Cr.)	6,076
Equity (₹ Cr.)	39.4
Face Value (₹)	2
Industry PE ⓘ	47.6

Management X-Ray of ASK Automotive:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of ASK Automotive

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Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of ASK Automotive

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	654	843	879	1,004	1,578	1,785	1,645	1,544	2,013	2,555
Operating Expenses ⓘ	587	739	769	885	1,392	1,568	1,439	1,361	1,844	2,322
Manufacturing Costs	68	3	79	171	239	243	233	218	279	334
Material Costs	431	624	538	596	998	1,164	1,041	998	1,393	1,782
Employee Cost	62	81	105	86	106	116	120	102	123	139
Other Costs ⓘ	26	30	46	32	48	44	45	43	49	66
Operating Profit ⓘ	67	104	110	118	186	218	206	183	169	234
Operating Profit Margin (%)	10.3%	12.3%	12.5%	11.8%	11.8%	12.2%	12.5%	11.8%	8.4%	9.1%
Other Income ⓘ	3	3	1	8	11	21	10	27	14	20
Interest ⓘ	14	16	15	15	14	20	20	11	8	11
Depreciation ⓘ	11	25	25	31	41	37	52	52	56	60
Exceptional Items ⓘ	0	0	-2	0	8	0	0	0	0	0
Profit Before Tax ⓘ	45	66	68	80	150	181	144	147	119	183
Tax ⓘ	8	20	20	27	52	60	26	37	30	47
Profit After Tax	37	46	49	54	98	121	118	111	89	136
PAT Margin (%)	5.7%	5.5%	5.6%	5.4%	6.2%	6.8%	7.2%	7.2%	4.4%	5.3%
Adjusted EPS (₹)	2.1	2.6	2.8	3.0	5.5	6.8	5.8	5.4	4.4	6.9
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	2%	7%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	221	267	316	374	350	437	542	650	666	691
Share Capital ⓘ	0	0	0	0	9	9	10	41	40	39
Reserves ⓘ	221	267	316	373	342	428	532	609	626	651
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	102	107	102	125	146	238	99	43	87	149
Long Term Debt	70	73	46	50	88	195	87	43	47	63
Short Term Debt	32	34	56	75	58	44	13	0	40	86
Trade Payables	66	56	55	93	156	123	98	149	179	171
Others Liabilities ⓘ	109	125	142	107	121	179	280	219	293	262
Total Liabilities ⓘ	497	556	615	699	773	977	1,019	1,061	1,225	1,273
Fixed Assets
Gross Block	251	303	384	357	438	662	760	794	910	932
Accumulated Depreciation	36	59	83	31	70	103	152	191	246	292
Net Fixed Assetsⓘ	215	244	301	327	368	560	607	603	663	640
CWIP ⓘ	3	9	9	21	9	61	16	10	2	7
Investmentsⓘ	22	22	22	33	31	31	39	31	32	44
Inventories	44	48	55	69	86	99	93	113	124	153
Trade Receivables	90	98	102	153	218	163	72	133	201	211
Cash Equivalents	2	2	2	2	5	2	4	19	1	1
Others Assetsⓘ	122	134	125	95	57	62	188	153	201	218
Total Assets ⓘ	497	556	615	699	773	977	1,019	1,061	1,225	1,273

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	69	64	144	84	246	176	247	136	145	152
PBT ⓘ	45	66	70	80	150	181	144	147	119	183
Adjustment ⓘ	30	33	57	42	45	48	70	42	55	61
Changes in Working Capital ⓘ	3	-16	32	-21	110	-7	63	-20	1	-47
Tax Paid ⓘ	-9	-19	-15	-17	-60	-46	-30	-34	-30	-44
Cash Flow From Investing Activity ⓘ	-86	-61	-82	-68	-173	-297	-60	-6	-99	-83
Capex	-83	-58	-83	-70	-43	-264	-29	-33	-80	-42
Net Investments	0	0	0	1	4	0	-11	25	-1	-13
Others ⓘ	-3	-3	1	1	-133	-34	-20	2	-19	-29
Cash Flow From Financing Activityⓘ	10	-3	-61	-15	-70	119	-186	-115	-63	-69
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	18	3	-27	40	-47	-72	-126	-83	11	13
Interest Paid ⓘ	-8	-12	-13	-14	-16	-20	-21	-11	-8	-11
Dividend Paid ⓘ	0	0	0	0	0	0	-2	-2	0	0
Others ⓘ	0	6	-21	-41	-7	211	-37	-19	-66	-71
Net Cash Flow ⓘ	-7	0	0	0	3	-3	2	15	-18	0

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	16.84	18.88	16.77	15.59	27.02	30.81	24.07	18.56	13.49	20.05
ROCE (%)	17.31	21.97	19.63	19.45	31.09	31.9	22.85	22.68	17.24	23.84
Asset Turnover Ratio	1.48	1.8	1.69	1.72	2.21	2.06	1.68	1.52	1.79	2.07
PAT to CFO Conversion(x)	1.86	1.39	2.94	1.56	2.51	1.45	2.09	1.23	1.63	1.12
Working Capital Days
Receivable Days	45	36	37	41	42	39	26	24	30	29
Inventory Days	22	18	19	20	17	19	21	24	21	20
Payable Days	56	36	38	45	46	44	39	45	43	36

ASK Automotive Ltd Stock News

ASK Automotive Ltd FAQs

What is the share price of ASK Automotive?

Company share prices are keep on changing according to the market conditions. The closing price of ASK Automotive on 26-Apr-2024 16:01 is ₹307.9.

What is the market cap of ASK Automotive?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 26-Apr-2024 16:01 the market cap of ASK Automotive stood at ₹6,075.9.

What is the P/E ratio of ASK Automotive?

The latest P/E ratio of ASK Automotive as of 26-Apr-2024 16:01 is 44.68.

What is the P/B ratio of ASK Automotive?

The latest P/B ratio of ASK Automotive as of 26-Apr-2024 16:01 is 3.69.

What is the 52-week high and low of ASK Automotive?

The 52-week high of ASK Automotive is ₹334.9 and the 52-week low is ₹240.7.

What is the TTM revenue of ASK Automotive?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ASK Automotive is ₹2,555 ( Cr.) .

About ASK Automotive Ltd

The company was incorporated on January 18, 1988 as a private limited company under the Companies Act, 1956, with the name ‘ASK Automotive Private Limited’, pursuant to a certificate of incorporation granted by the Registrar of Companies, Delhi and Haryana (RoC). Upon the conversion of the company into a public limited company, pursuant to resolutions passed by its Board of Directors on December 7, 2022 and its Shareholders on December 7, 2022 the name of the company was changed to ‘ASK Automotive Limited’ and a fresh certificate of incorporation dated January 6, 2023 was issued by the RoC.

The company is the largest manufacturer of brake-shoe and advanced braking (AB) systems for two-wheelers (2W) in India with a market share of approximately 50% in Fiscal 2023 in terms of production volume for original equipment manufacturers (OEMs) and the branded independent aftermarket (IAM), on a combined basis. It has been supplying safety systems and critical engineering solutions for more than three decades with in-house designing, developing and manufacturing capabilities. Its offerings are powertrain agnostic, catering to electric vehicle (EV) as well as internal combustion engine (ICE) OEMs. Its brand ‘ASK’ is recognised as the leading brand in the 2W IAM in terms of production volume for Fiscal 2023 in India.

The company’s in-house design and engineering capabilities enable it to deliver complex precision components and solutions with a focus on quality and have allowed it to diversify its business in both the automotive and non-automotive sectors. It commenced its operations in 1989 by manufacturing brake shoe products for 2Ws and has since diversified its operations to include offerings such as: (i) AB systems; (ii) aluminium light weighting precision (ALP) solutions, where it is a prominent player for 2W OEMs in India with a market share of 9% in Fiscal 2023 in terms of production volume; (iii) wheel assembly to 2W OEMs; and (iv) safety control cables (SCC) products. It supply its portfolio of AB systems, ALP solutions, wheel assembly, and SCC products to OEMs in (i) the automotive sector for 2Ws, three wheelers (3Ws), passenger vehicles (PVs) and commercial vehicles (CVs), and (ii) the non-automotive sector for all-terrain vehicles (ATVs), power tools and outdoor equipment.

Business area of the company

ASK Automotive is a manufacturer of Advance Braking Systems that include products such as brake panel assembly, brake shoes, disc brake pads, brake lining, and mission case catering to multiple automotive vehicle segments including motorcycles, scooters, passenger vehicles, and commercial vehicles in both the internal combustion (IC) and electric vehicle segment. It also manufacturers Aluminum Lightweighting Precision Solutions that include segments covering engine parts, body and chassis parts, transmission parts, electrical and electronic and electric vehicle-specific components, catering to the motorcycle, scooter, passenger vehicle and commercial vehicle segments for both internal combustion engine and electric vehicles for automotive and non-automotive applications. Being a safety product manufacturerit manufactures Safety Control Cables that include the choke, brake, clutch, throttle, speedometer, fuel, and seat lock cables.

Key awards, accreditations and recognition

2004: Award for Challenge India Support (Chassis Group) from Honda Motorcycle and Scooter India Private Limited.
2005: Award for Development – Motorcycle Parts (Engine) Best & Fastest Development Award from Honda Motorcycle and Scooter India Private Limited.
2006: Achievement Award for achieving the Quality & Delivery Targets for the year 2005-06 from Honda Motorcycle and Scooter India Private Limited at 7th Supplier Convention.
2009: Award for Proprietary from Honda Motorcycle and Scooter India Private Limited.
2010: New Product Development Support award from Denso Haryana Private Limited at Business Partners’ Meet 2009-10.
2011: Award for Delivery and Management Quality from Honda Motorcycle and Scooter India Private Limited.
2012: Vendor Performance Award in the field of quality from SUZUKI Motorcycle India Private Limited at the Annual Vendor Conference, SUZUKI Motorcycle India Private Limited.
2013: Award for Business Expansion Support Supplier from Honda Motorcycle and Scooter India Private Limited.
2015: Award for Delivery Management from Honda Motorcycle and Scooter India Private Limited at Supplier Conference.
2015: Award for Cost Competitiveness from Honda Motorcycle and Scooter India Private Limited.
2016: Award for Outstanding Performance in Development Support from Denso Haryana Private Limited at business partners meet 2016.
2016: Quality Award “Gold” from Bajaj Auto Limited.
2017: Delivery Management from Honda Motorcycle and Scooter India Private Limited.
2018: Supplier Award for Superior Performance in Working Capital from Stanley Black & Decker Reynosa Plant.
2019: Award for Delivery Management from Honda Motorcycle and Scooter India Private Limited at Supplier Convention.
2020: Award for Delivery Management from Honda Motorcycle and Scooter India Private Limited at Supplier Convention.
2020: Obtained ISO 45001:2018 certification for occupational health and safety management system maintained at ur facility, ASK-3/
2020: Obtained ISO 45001:2018 certification for occupational health and safety management system maintained at facility, ASK-7.
2021: Award for Special Support from Denso Haryana Private Limited at Business Partners’ Meet 2020-21.
2021: Award for Delivery Management from Honda Motorcycle and Scooter India Private Limited at Supplier Convention.
2021: Obtained ISO 45001:2018 certification for occupational health and safety management system maintained at facility, ASK-12.
2021: Obtained ISO 45001:2018 certification for occupational health and safety management system maintained at facility, ASK-17.
2022: Award for Delivery Management from Honda Motorcycle and Scooter India Private Limited at Annual Supplier Conference.
2022: Award for Best Quality Performance” from Stanley Black & Decker.
2023: Obtained ISO 45001:2018 certification for occupational health and safety management system maintained at facility, ASK-8.
2023: Obtained ISO 14001:2015 certification for environmental management system maintained at facility, ASK-8.
2023: Award for “Best Environment in Premises (Runner-up)” at the Haryana State Safety and Welfare and Health Awards.
2023: Award for “Lowest Accident Frequency Rate” at the Haryana State Safety and Welfare and Health Awards.

Major events and milestones:

1989: Commenced manufacturing activities at manufacturing facility, ASK-1 situated in Gurugram, Haryana, India.
1989: Entered into the OEM market for AB systems with brake shoes.
2001: Commenced manufacturing activities at manufacturing facility, ASK-2 situated in Gurugram, Haryana, India.
2004: Commenced manufacturing activities at manufacturing facility, ASK-3 situated in IMT Manesar, Gurugram, Haryana, India.
2004: Entered into the OEM market for ALP with panel assembly for front brake.
2009: Commenced manufacturing activities at manufacturing facility, ASK-4 situated in IMT Manesar, Gurugram, Haryana, India.
2010: Commenced manufacturing activities at manufacturing facility, ASK-5 situated in IMT Manesar, Gurugram, Haryana, India.
2012: Commenced manufacturing activities at manufacturing facility, ASK-7 situated in IMT Manesar, Gurugram, Haryana, India.
2013: Commenced manufacturing activities at manufacturing facility, ASK-8 situated in Narsapur Industrial Area, Bengaluru, Karnataka, India.
2014: Commenced manufacturing activities at manufacturing facility, ASK-10 situated in IMT Manesar, Gurugram, Haryana, India.
2015: Commenced manufacturing activities at manufacturing facility, ASK-11 situated in Vasna Chhaniyar Detroj, Ahmedabad, Gujarat, India.
2015: Entered into the aftermarket for safety control cables and others with clutch cables, front brake cables, throttle cables and speedometer cables.
2017: Entered into a joint venture with Fras-Le S.A., Brazil and incorporated the Joint Venture, ASK FrasLe Friction Private Limited.
2018: Entered into a business purchase agreement with Aman Rathee and AK Auto Industries pursuant to which ASK-14 was transferred to the company by AK Auto Industries.
2018: Entered into a business purchase agreement with Prashant Rathee and APK Automotive pursuant to which ASK-15 was transferred to the company by APK Automotive.
2019: Commenced manufacturing activities at manufacturing facility, ASK-12 situated in IMT Manesar, Gurugram Haryana, India.
2019: Entered into the composite scheme of amalgamation and demerger between A.A. Autotech Private Limited and Vijaylaxmi Infra Projects Private Limited pursuant to which manufacturing facilities ASK-16 and ASK-17, both situated in IMT Manesar, Gurugram, Haryana, India were transferred to the company from A.A. Autotech Private Limited.
2021: Incorporated wholly-owned Subsidiary, ASK Automobiles Private Limited as a private limited company under the Companies Act, 2013.