ASK Automotive Ltd - Stock Valuation and Financial Performance

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

ASK Automotive Share Price

448.25 2.10 0.47%
as on 05-Nov'24 00:00

DeciZen - make an informed investing decision on ASK Automotive

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

ASK Automotive stock performance -

mw4me loader
P/E Ratio (SA):
43.08
Market Cap:
8,795.5 Cr.
52-wk low:
240.7
52-wk high:
485.1

Is ASK Automotive Ltd an attractive stock to invest in?

1. Is ASK Automotive Ltd a good quality company?

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

2. Is ASK Automotive Ltd 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.

3. Is ASK Automotive Ltd a good buy now?

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

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

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

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
ASK Automotive Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 22%19.6%19.5%31.1%31.9%22.9%22.7%17.2%23.8%27.9%-
Value Creation
Index
0.60.50.41.31.40.70.70.30.81.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 8438791,0041,5781,7851,6451,5442,0132,5552,9263,153
Sales YoY Gr.-4.3%14.2%57.2%13.2%-7.9%-6.1%30.4%26.9%14.5%-
Adj EPS 2.62.82.95.26.45.84.94.46.88.910.4
YoY Gr.-7.6%3.9%77.1%24.1%-9.6%-16.7%-10.3%56.1%30.5%-
BVPS (₹) 1517.82119.724.626.73233.13543.948.6
Adj Net
Profit
46.550.252.292.411511898.887.4134175204
Cash Flow from Ops. 64.114483.6246176247136145152318-
Debt/CF from Ops. 2.10.920.71.70.60.40.71.10.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 14.8%10.4%23.8%14.5%
Adj EPS 14.5%6.6%22.2%30.5%
BVPS12.7%12.3%11.2%25.3%
Share Price - - - -

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
19.117.215.125.529.124.216.613.319.722.422.4
Op. Profit
Mgn %
12.512.511.811.912.212.711.88.49.29.510
Net Profit
Mgn %
5.55.75.25.96.47.26.44.35.266.5
Debt to
Equity
0.50.40.40.50.70.30.10.20.20.10
Working Cap
Days
103103977364698482737425
Cash Conv.
Cycle
242931262519151922173

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 22.40%

Sales growth is growing at healthy rate in last 3 years 23.76%

Net Profit is growing at healthy rate in last 3 years 22.24%

Sales growth is good in last 4 quarters at 19.71%

No data to display

Latest Financials - ASK Automotive Ltd.

Standalone Consolidated
TTM EPS (₹) 10.4 11.3
TTM Sales (₹ Cr.) 3,153 3,380
BVPS (₹.) 48.6 46.7
Reserves (₹ Cr.) 918 881
P/BV 9.19 9.55
PE 43.08 39.65
From the Market
52 Week Low / High (₹) 240.70 / 485.10
All Time Low / High (₹) 240.70 / 485.10
Market Cap (₹ Cr.) 8,796
Equity (₹ Cr.) 39.4
Face Value (₹) 2
Industry PE 53.8

Management X-Ray of ASK Automotive:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of ASK Automotive

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales8438791,0041,5781,7851,6451,5442,0132,5552,926
Operating Expenses 7397698851,3921,5681,4391,3611,8442,3222,649
Manufacturing Costs379171239243233218279334400
Material Costs6245385969981,1641,0419981,3931,7822,015
Employee Cost 8110586106116120102123139157
Other Costs 30463248444543496676
Operating Profit 104110118186218206183169234277
Operating Profit Margin (%) 12.3%12.5%11.8%11.8%12.2%12.5%11.8%8.4%9.1%9.5%
Other Income 31811211027142030
Interest 1615151420201181115
Depreciation 25253141375252566057
Exceptional Items 0-208000000
Profit Before Tax 666880150181144147119183235
Tax 20202752602637304760
Profit After Tax 4649549812111811189136176
PAT Margin (%) 5.5%5.6%5.4%6.2%6.8%7.2%7.2%4.4%5.3%6.0%
Adjusted EPS (₹)2.62.83.05.56.85.85.44.46.98.9
Dividend Payout Ratio (%)0%0%0%0%0%2%7%0%0%11%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 267316374350437542650666691866
Share Capital 000991041403939
Reserves 267316373342428532609626651826
Minority Interest0000000000
Debt10710212514623899438714955
Long Term Debt734650881958743476354
Short Term Debt345675584413040861
Trade Payables56559315612398149179171234
Others Liabilities 125142107121179280219293192224
Total Liabilities 5566156997739771,0191,0611,2251,2031,379

Fixed Assets

Gross Block303384357438662760794910932961
Accumulated Depreciation59833170103152191246292325
Net Fixed Assets244301327368560607603663640637
CWIP 99219611610271
Investments 22223331313931324444
Inventories485569869993113124153164
Trade Receivables9810215321816372133201211196
Cash Equivalents 222524191113
Others Assets134125955762188153201148325
Total Assets 5566156997739771,0191,0611,2251,2031,379

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 6414484246176247136145152318
PBT 667080150181144147119183235
Adjustment 33574245487042556154
Changes in Working Capital -1632-21110-763-201-4791
Tax Paid -19-15-17-60-46-30-34-30-44-62
Cash Flow From Investing Activity -61-82-68-173-297-60-6-99-83-196
Capex -58-83-70-43-264-29-33-80-42-54
Net Investments 00140-1125-1-130
Others -311-133-34-202-19-29-142
Cash Flow From Financing Activity -3-61-15-70119-186-115-63-69-111
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 3-2740-47-72-126-831113-4
Interest Paid -12-13-14-16-20-21-11-8-11-15
Dividend Paid 00000-2-2000
Others 6-21-41-7211-37-19-66-71-92
Net Cash Flow 0003-3215-18011
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)18.8816.7715.5927.0230.8124.0718.5613.4920.0522.57
ROCE (%)21.9719.6319.4531.0931.922.8522.6817.2423.8427.87
Asset Turnover Ratio1.81.691.722.212.061.681.521.792.132.3
PAT to CFO Conversion(x)1.392.941.562.511.452.091.231.631.121.81
Working Capital Days
Receivable Days36374142392624302925
Inventory Days18192017192124212020
Payable Days36384546443945433637

ASK Automotive Ltd Stock News

ASK Automotive Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of ASK Automotive on 05-Nov-2024 00:00 is ₹448.2.
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 05-Nov-2024 00:00 the market cap of ASK Automotive stood at ₹8,795.5.
The latest P/E ratio of ASK Automotive as of 05-Nov-2024 00:00 is 43.08.
The latest P/B ratio of ASK Automotive as of 05-Nov-2024 00:00 is 9.19.
The 52-week high of ASK Automotive is ₹485.1 and the 52-week low is ₹240.7.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ASK Automotive is ₹3,153 ( 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.


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