®

ASK AUTOMOTIVE LIMITED

(Formerly known as ASK Automotive Private Limited)

Date: October 29, 2024

BSE Limited National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block - G, Bandra
Dalal Street, Mumbai - 400 001 Kurla Complex, Bandra (East), Mumbai -
Scrip Code: 544022 400 051 Symbol: ASKAUTOLTD
ISIN No.: INE491J01022 ISIN No.: INE491J01022
Re.: ASK Automotive Limited Re.: ASK Automotive Limited

Sub: Presentation to be made to the Analysts and / or Investors

Dear Sir/Madam,

Pursuant to the requirement of Regulation 30 read with Part A of Schedule III of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed
herewith the presentation to be made to the Analysts and/or Investors on the Unaudited
Financial Results of the Company for the quarter and half year ended September 30, 2024.

The same shall be available on our website i.e. www.askbrake.com.

This is for your information and records.

Thanking you.

Yours Faithfully,
For ASK Automotive Limited
RAJANI Digitally signed by
RAJANI SHARMA

SHARMA Date: 2024.10.29

16:39:56 +05'30'
Rajani Sharma
Vice President (Legal) Company Secretary
& Compliance Officer
Membership No.: ACS14391

Encl: a/a

Corporate Office: - Registered Office:

Plot No. 13-14, Sector - 5, I.M.T. Manesar, Flat No. 104, 929/1, Naiwala,
Distt. Gurgaon. PIN - 122050 (Hr.) Faiz Road, Karol Bagh,
IATF ISO ISO ISO
Ph: 0124 - 4396900 New Delhi - 110 005
e-mail: info@askbrake.com Tel: 011-28758433, 28759605
: roc@askbrake.com 011-28752694, 43071516
Website : www.askbrake.com CIN: L34300DL1988PLC030342
 ASK AUTOMOTIVE LIMITED
Quarterly Earnings Call || Q2 & H1 FY25

Ad vanced Braking Al uminum L i ghtwei ghti ng Safet y Control

Systems Preci si on Solutions Cabl es

https://askbrake.com
Content

01 Overview: ASK Group 4

02 Financial Performance 5-10

03 Key Growth Strategies 11-12

04 Technical Collaborations & Partnerships 13

05 Positioning in EV Segment 14

06 Transition to Renewal Energy 15

07 Customer Relationship and Recognitions 16-17

08 Others 18-22

09 Annexures 23-27

2
Cautionary Statement

This presentation and the accompanying slides (the “presentation”) contain selected information about the activities of ASK
Automotive Limited (the “Company”) and its subsidiaries and affiliates (together, the “Group”) as at the date of the
presentation. It does not purport to present a comprehensive overview of the Group or contain all the information necessary
to evaluate an investment in the Company.
Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and
regulations. Actual results might differ substantially from those expressed or implied. Important developments that could
affect the Company’s operations include changes in the industry structure, significant changes in political and economic
environment in India and overseas, tax laws, import duties, litigation and labour relations.
The information contained herein has been prepared to assist prospective investors in making their own evaluation of the
Company and does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may
desire. In all cases, interested parties should conduct their own research/investigation and analysis of the Company and the
data set forth in this information. The Company makes no representation or warranty as to the accuracy or completeness of
this information and shall not have any liability for any representations (expressed or implied) regarding information
contained in, or for any omissions from, this information or any other written or oral communications transmitted to the
recipient in the course of its evaluation of the Company.
While we have made every attempt to ensure that the information contained in this presentation has been obtained from
reliable source, the Company is not responsible for any errors or omissions, or for the results from the use of this information.
All information in this presentation is provided on "as is" basis with no guarantee of completeness, accuracy, timeliness or of
the results obtained from the use of this information and without warranty of any kind, express or implies including but not
limited to warranties of performance for a particular purpose. In no event will the Company, its Directors, legal
representatives, employees thereof be liable to anyone for any decision made or action taken by relying on data/information
in this presentation.

3
ASK Group Overview - ASK is a leading Brand in 2W Braking Segment in India

30+ Years Product Segments

Experience in
safety products
and solutions
~50%
12 Market Share in
Exporting 2W’s AB systems 38 %
countries in India
Advanced Braking
Systems
43 %
Aluminum
FY 2023-24 Lightweighting
Long
standing
Total Income Precision Solutions
relations EV & Non-EV Rs. 3005 Crore
with all top Powertrain agnostic
2W ICE and
products
EV
customers

Strong In- 4 Technical 4%

house R&D, Collaboration Safety Control Cables
Engineering & 2 JV
and Design With World class 13 %
Centre
17 global players Wheel Assembly
State of the art
Manufacturing
2%
Facilities Others

4
Key Business Performance Highlights - Q2 & H1 FY25 (Consolidated)

 Highest ever Revenue & PAT in Q2 FY25  Q2 EBITDA Margins at 12.2%, up +230 bps YoY

 Strong finish to H1 FY25 in revenue and profits  H1 EBITDA Margins at 12.1%, up +220 bps YoY

 Revenue growth outperformed industry growth  EBITDA margin improvement resulting from:-

 Q2 YoY Revenue up +22%, EBITDA up + 50%, PAT up  Higher Volume driven economies of scale
+63%
 Capacity utilization of Karoli facility
 H1 YoY Revenue up +26%, EBITDA up + 55%, PAT up
+63%  Focus on cost optimization initiatives

 All three business verticals delivered strong growth in  EPS at Rs. 3.41 for Q2 & Rs. 6.30 for H1, up +63% YoY
revenue
 Construction work of new Bengaluru Plant
progressing well as per schedule

 Solar plant commencement nearing completion

5
Financial Performance of Q2 FY 2024-25 (in Crores) - Consolidated

Total Income EBITDA

+22% 976 119

+50%
798
79

Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25

PAT EBITDA and PAT Margins %

12.2%
+63% 67
9.9%

6.9%
41
5.2%

EBITDA % PAT %

Q2 FY24 Q2 FY25 6
Q2 FY24 Q2 FY25
Financial Performance of H1 FY 2024-25 (in Crores) - Consolidated

Total Income EBITDA

+26% 1841 222

+55%
1456
144

H1 FY24 H1 FY25 H1 FY24 H1 FY25

PAT EBITDA and PAT Margins %

12.1%
+63% 124
9.9%

76 6.7%
5.2%

EBITDA % PAT %

H1 FY24 H1 FY25 7
H1 FY24 H1 FY25
Revenue by Product Segment, Channel and Geography - Q2 FY25 Consolidated
Product Segment Channel Geography
Others, 3.2% Others, 3.2% Export, 4.2%
SCC, 3.9% AM, 9.7%

WA, 11.6% OES, 6.9%

ABS, 36.4%
OEM EV
Q2 FY25

4.2%

ALPS OEM ICE,

44.9% 76.0% Domestic,
95.8%

SCC, 4.1% Others, 1.4% AM, 10.0% Others, 1.4% Export, 4.4%
WA, 13.1%
OES, 8.0%
Q2 FY24

ABS, 38.0% OEM EV

3.7%

ALPS
43.4% OEM ICE,
Domestic,
76.9%
95.6%

8
Revenue by Product Segment, Channel and Geography - H1 FY25 – Consolidated
Product Segment Channel Geography
Others, 3.1% Others, 3.1% Export, 4.0%
SCC, 3.8% AM, 9.0%

WA, 11.7% OES, 6.8%

ABS, 36.4%
OEM EV
H1 FY25

3.9%

ALPS
OEM ICE,
45.1% Domestic,
77.2%
96.0%

SCC, 3.8% Others, 1.8% AM, 9.5% Others, 1.8% Export, 5.0%
WA, 13.4%
OES, 8.4%
H1 FY24

ABS, 38.0% OEM EV

4.1%

ALPS
43.1% OEM ICE,
Domestic,
76.3%
95.0%

9
 Product Segment Revenue (Rs. Crores) YoY- Consolidated

Advanced Braking Systems Aluminium LW Precision Solutions Safety Control Cables

437 +18% 38
+27%
+18% 355
344 32
302
Q2 FY25

Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25

Advanced Braking Systems Aluminium LW Precision Solutions Safety Control Cables

828 +24% 69
+32%
+21%
H1 FY25

668 625 55
551

H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY24 H1 FY25

10
Key Growth Strategies

Strengthen position Diversify product offering in AB Develop innovative systems

in the growing EV systems and ALP solutions and and solutions and have
sector in India expand market in PV and CV strong pipeline of products
segment

Electrification Focus on Export Independent Focus on design,

Diversify Product
- EV After R&D, Engg
Offerings
Market capabilities

Leverage export Expand IAM channel

opportunities and enter network and increase focus
new markets on IAM sales and spares 11
Focus on New Growth Initiatives…

 Entry in 2W HPDC Alloy Wheel  Mega Manufacturing facility at Karoli Commissioned

Signed Technical Collaboration agreement with LIOHO, Taiwan to manufacture 2W
HPDC Alloy Wheels in Feb’24 Largest manufacturing plant at Karoli, Rajasthan with investment of Rs. 4.5 billion up
to Sep 30, 2024 operationalized and ramping up fast to deliver future growth

 JV with AISIN Group for Passenger Car Products  New Manufacturing Facility in Karnataka
Signed JV agreement with AISIN Group, Japan (a Top 10 Global Tier One Auto Setting up our 18th manufacturing facility in Bengaluru with investment of Rs. 2.0
Component supplier) to market and sell Passenger Car Products in Independent billion to cater to Southern customers. Target to be operational in Q4FY25
aftermarket in April’24

 Business with New Esteemed Customers  New 9.9 MWp Solar Power Plant
As a part of ESG initiative, a new 9.9 MWp Solar power plant for captive consumption
with investment of Rs. 0.5 billion commissioning soon with a clear focus on move
towards renewal energy
APTIV, BOMBARDIER, BENDIX, MAHINDRA, MARUTI SUZUKI
Business with new esteemed customers to supply Aluminum products for their
domestic and global requirements

12
World Class Technical Collaborations and Global Partnerships...

Technical Collaborations Joint Ventures

2001 - Japanese Manufacturer 2016 - NUCAP, Canada 2018 - FRAS-LE, Brazil

A prestigious manufacturer & supplier of A Patented Retention Systems - Mechanical A Randon group company, Fras-le is a global
Non-asbestos Brake Shoes to the world’s Bonding Disc Brake Pads for 2W, PV and CV leader in brake linings and pads for commercial
leading 2W manufacturers vehicles, supplying to global OEMs

2001 2016 2016 2024 2018 2024

2016 - HSH Safety Control Cable Ind. Co. 2024 - LIOHO, TAIWAN 2024 - AISIN, Japan
Ltd. AISIN Group Companies, a leading Japanese OE
A Leading Player in manufacturer
Leading manufacturer of high-quality of automotive system components Auto Components supplier, is among the Top
control cables and with more than six and metal parts including Alloy 10 global Tier One automotive suppliers of
decades of experience in global markets Wheel signed in Feb’24 Passenger Car products in April 2024
13
 Prominent Player in 2W EV Segment to Capture Growing Electrification Trend

DIVERSE EV PRODUCT OFFERINGS ASK Revenue Growth in EV (in Crores)

120

CAGR 227%

Belt Cover
52
Belt Cover Rear Foot Rest HU Base Hub Front
Front

11
0
FY21 FY22 FY23 FY24

Intermediate Hub RR Back

Hub Rear Pulley Rear Grip
Pulley Side • Aluminium content higher in EV by 30%-50% due
to lightweight and thermal conductivity
• EV agnostic product offering utilising
Lightweighting & Thermal Management
capabilities
Side Stand Structural Arm EV Motor ND Casing Battery Pack
• Strong pipeline of new products for EV OEMs
• Well positioned to capture growing EV sector
India’s largest Hero MotoCorp
2W EV OEM Limited 14
ESG - Transition towards Renewable Energy

PNG usage (units in SCM millions)

2.82  Clear focus towards Renewal

Energy

 Replaced diesel with PNG in

0.60 melting furnaces
0.31 0.42

 Setting up 9.9 MWp Solar

2021 2022 2023 2024
Power Plant for captive
consumption with investment
Solar usage (units in kWh millions) of around Rs. 0.5 billions

7.45
7.20 7.28

6.29

15
2021 2022 2023 2024
 Long-standing Relationship with Indian and Global OEM players
2 Wheelers-ICE
2W Years of
Customers Relationship
Hero
MotoCorp Limited
Hero
MotoCorp Limited 31

2 Wheelers-EV

23
India’s largest 2W
EV OEM
22
4 Wheelers

22

21 Commercial Vehicle Export Customers

Two Prominent CV Polaris Inc.

OEMs
17
in India^
^ Supplied through JV 16
Awards and Recognitions

7 Awards
for Excellence in
Development

8 Awards
for Excellence in
Quality

6 Awards
for Excellence in
Performance

6 Awards
for Excellence in
Cost Innovation

17
 Diverse & Extensive Product Portfolio

2W 3W 4W CV (Joint Venture)

Advanced
Braking Brake Shoe Brake Pad Brake Lining
System Brake Shoe Brake Pad
Brake Shoe

Brake Pad
Brake Panel Case Mission

2W PV Exports EV

Aluminum LW
Crank Case Engine Cover ECU Body ECU Housing Demolition Geared Pulley
Precision Fan Electric motor
Hammer housing
Solutions

Cylinder Block Pillion Grip Throttle Body Filter Housing Cover Bottom Base Adaptor Battery housing

2W 2W 2W 3W

Safety Control
Cables
Front Brake Cable Rear Brake Cable Throttle Speedometer Cable Gear Shift Cable
Assembly Assembly Cables Assembly

18
Board of Directors

Kuldip Singh Rathee - Chairman & MD Arun Duggal - Independent Director

• Bachelor’s degree in arts (Economics Honours) from Delhi University • Bachelor’s degree in technology (mechanical engineering) from Indian Institute of
• Served in the Central Reserve Police Force and was directly recruited for the post of Technology, Delhi and a postgraduate diploma in business administration from Indian
deputy superintendent of police in 1974 and served till 1978 Institute of Management, Ahmedabad, Gujarat
• Previously enlisted as a contractor in Class I (B&R) with the Directorate General of • Previously Country Chief Executive India with Bank of America
Works, Central Public Works Department, Government of India • Currently Chairman of the board of directors of ICRA Limited and on the board of
• Experience in the real estate sector and in the manufacturing sector directors of ITC Limited and Dr. Lal Pathlabs Limited

Vijay Rathee Non-Executive Director Vinay Kumar Piparsania - Independent Director

• Bachelor’s degree in technology (mechanical engineering) from Indian Institute of
• Bachelor’s degree in science and a master’s degree in science (Zoology) Technology, Delhi and a master’s degree in business administration from Tulane
• Experience in the banking sector and the manufacturing sector and was previously University, New Orleans, Louisiana (USA)
associated as an officer with Punjab & Sind Bank • Experience in the automotive sector and was previously associated with Ford India, BMW
Oman, Hero Corporate Service Limited, TVS Automobile Solutions and currently the
principal at MillenStrat Advisory & Research

Prashant Rathee - Whole-Time Director Deepti Sehgal - Independent Director

• Bachelor’s degree in commerce from Delhi University • Bachelor’s degree in commerce from the University of Delhi, and a postgraduate diploma
• Previously a director on the board of A.A. Autotech Private Limited from 2008 till it in business administration from Indian Institute of Management, Ahmedabad, Gujarat
merged with ASK Automotive. • Experience in the consultancy sector and was previously associated with Infogain
• Extensive experience in the manufacturing sector Corporation, Deloitte Touche Tohmatsu India, GE Capital International Services and IBM
India

Aman Rathee - Whole-Time Director Kumaresh Chandra Misra - Independent Director

• Bachelor’s degree in science (engineering) and a master’s degree in business • Bachelor’s degree in arts. a bachelor’s degree in law, a postgraduate diploma in business
administration from Purdue University, Indiana (USA) and a certification in M&A administration from Indian Institute of Management, Ahmedabad, Gujarat and a master’s
from Harvard Business School, Massachusetts (USA) degree in arts (political economy) from Boston University, Boston, Massachusetts (USA)
• Previously a director on the board of A.A. Autotech Private Limited from 2012 till it • A retired IAS officer and previously Joint Secretary with the Ministry of Chemicals and
merged with ASK Automotive Fertilizers, and is currently the director of the northern region at Indian Chemical Council
• Extensive experience in the manufacturing sector

Rajesh Kataria - Whole-Time Director Yogesh Kapur - Independent Director

• Bachelor’s degree in business administration and a master’s course in business • Bachelor’s degree in commerce (honours) from University of Delhi, Delhi and is a fellow
administration (human resources) of the Institute of Chartered Accountants of India
• Currently responsible for human resource management • Experience in investment banking and was previously associated with Axis Capital Limited
and was also the managing director at Enam Securities Private Limited
• Prior to investment banking sector, he was associated with HDFC for 8 years 19
 Geographical Presence across India

Himachal Pradesh
Baddi – 1 Plant

Uttarakhand
Corporate Office Haryana Haridwar – 2 Plants
Gurugram/Manesar - 9 Plants, JV - 1 Plant

Rajasthan
Karoli (WOS) – 1 Plant

7,000+
Gujarat Workforce
Ahmedabad - 1 Plant

Karnataka Bengaluru*
ASK - 1 Plant, WOS - 1 Plant

17 State of the art Manufacturing Facilities

WOS - ASK Automobiles Private Limited, a wholly owned subsidiary of ASK Automotive
* 1 new plant (18th) under development in Karnataka JV - ASK FRAS-LE Friction Private Limited 20
ASK Group’s Strengths

Largest manufacturer of 2W Advanced Braking System

in India with ~50% market share

Powertrain Agnostic product offerings in both EV and Non-EV

4 World Class Technical Collaborations and 2 World Class Joint Ventures

High entry barriers due to proprietary material formulations, in-house Engg, Designing & Tool room

Long standing relationship with customers & established Aftermarket focused on Quality, Cost & Delivery

Robust financial performance with 17% Revenue growth, 26% EBITDA growth, 41% PAT growth and RoACE of 23.64% in FY24
21
 AHSAAS Trust – A CSR Initiative

Focusing Our Efforts Today for a Better Tomorrow for Everyone.

AHSAAS, the philanthropic arm of ASK Automotive was born out of our chairman & Managing Director Mr. Kuldip Singh Rathee and his wife and Non- Executive Director Ms.
Vijay Rathee with an aim and dedication to contributing toward socio-economic growth in the states of our operations.

EDUCATION SKILL DEVELOPMENT WOMEN SAFETY

22
SPORTS TALENT NURTURING CONSERVATION HEALTH CARE
Annexure

23
Profit and Loss (Q2 & H1 FY25) - Consolidated (in Rs. Crore)
% Change % Change % Change
Particulars (Rs. Cr) Q2 FY25 Q2 FY24 Q1 FY25 H1 FY25 H1 FY24
(YoY) (QoQ) (YoY)
Revenue 974 794 862 1,836 1,450
Other Income 2 5 3 5 6
Total Income 976 798 865 22.2% 12.8% 1,841 1,456 26.4%
Cost of material consumed 680 556 613 1,293 1,022
Changes in inventories (11) (5) (28) (39) (28)
Employee benefits expense 48 44 47 96 83
Other expenses 140 128 130 271 239
Dies for own use (1) (3) (1) (2) (4)
EBITDA 119 79 103 50.3% 15.0% 222 144 54.5%
EBITDA margin (% ) 12.17% 9.90% 11.94% +230 bps +20 bps 12.07% 9.87% +220 bps
Depreciation 22 17 20 42 32
EBIT 97 62 83 180 112
Finance cost 9 8 8 17 12
PBT before profit/ (loss) of JV 88 54 75 163 100
Share in Profit / (loss) of JV 1 3 1 2 5
PBT 89 57 76 165 105
Income Tax & Deferred Tax 22 16 19 41 28
PAT 67 41 57 63.1% 18.4% 124 76 63.2%
PAT margin % 6.89% 5.17% 6.57% +170 bps +30 bps 6.74% 5.22% +150 bps
24
Balance Sheet as at Sep 24 - Consolidated (in Rs. Crore)

As at As at As at As at
Particulars Particulars
30 September 2024 31 March 2024 30 September 2024 31 March 2024
Unaudited Audited Unaudited Audited
ASSETS
EQUITY AND LIABILITIES
Non-current assets
Property, plant and equipment 780.68 713.68 Equity
Equity share capital 39.43 39.43
Capital work-in-progress 116.13 64.20
Right-of-use assets 106.33 92.86 Other equity 881.15 777.31
Goodwill 181.91 181.91 Total equity 920.58 816.74
Other intangible assets 4.88 3.76
Non-current liabilities
Investments 23.25 20.50 Financial liabilities
Financial assets (i) Borrowings 300.80 267.80
(i) Loans 5.33 5.33 (ii) Lease liabilities 10.73 1.45
(ii) Other financial assets 17.37 12.30 Provisions 32.13 30.21
Non-current tax assets (net) 0.26 0.26 Deferred tax liabilities (net) 24.36 26.38
Deferred tax Assets (net) 0.50 3.50 Total non-current liabilities 368.02 325.84
Other non-current assets 44.53 15.35
Total non-current assets 1,281.17 1,113.65 Current liabilities
- Financial liabilities
Current assets (i) Borrowings 81.74 75.31
Inventories 232.22 176.78 (ii) Lease liabilities 6.59 1.31
Financial assets (iii) Trade payables
(i) Loan 2.67 2.67 (a) Total outstanding dues of micro enterprises and small enterprises 41.02 40.21
(ii) Trade receivables 292.09 213.97 (b) Total outstanding dues of creditors other than micro enterprises and 324.59 207.53
(iii) Cash and cash equivalents 2.69 12.23 small enterprises
(iv) Bank balances other than (iii) above 0.26 0.42 (iv) Other financial liabilities 29.62 42.35
(v) Other financial assets 4.08 6.49 Provisions 8.61 7.40
Current tax assets (net) 0.77 0.52 Current tax liabilities (net) 11.57 1.04
Other current assets 30.46 41.72 Other current liabilities 54.07 50.72
Total current assets 565.24 454.80 Total current liabilities 557.81 425.87
Total liabilities 925.83 751.71
Total assets 1,846.41 1,568.45 Total equity and liabilities 1,846.41 1,568.45

25
Glossary

Term Description Term Description

AB Advanced Braking ECU Electric Control Unit

ALP Aluminium Lightweighting Precision MCU Motor Control Unit

SCC Safety Control Cables

HMI Human-machine interface
AM / IAM Independent Aftermarket
HEV Hybrid Electric Vehicles
OEM Original Equipment Manufacturer
BEV Battery Electric Vehicles
ATV All-terrain vehicles
ICE Internal Combustion Engine
2W Two-wheeler
EBITDA Earnings Before Interest, Tax, Depreciation and Amortization
EV Electric Vehicle
CAGR Compounded Annual Growth Rate
3W Three-wheeler
PAT Profit After Tax
PV Passenger Vehicles

CV Commercial Vehicles RoACE Return on Average Capital Employed

JV Joint Venture RoAE Return on Average Equity

26
For further information Contact

ASK Automotive Ltd. Adfactors PR

1. Mr. Naresh Kumar - Chief Financial Officer 1. Mr. Mohit Burman - AGM Corporate Communication
naresh@askbrake.com mohit.burman@askbrake.com

2. Mr. Sanjeev Arora - Sr. VP Finance & Head IR 2. Mr. Rushabh Shah
investor@askbrake.com rushabh.shah@adfactorspr.com

27