ASK AUTOMOTIVEASK Automotive LimitedNSE:ASKAUTOLTDTechnicalAnalystSucritASK Automotive Ltd. (CMP ₹449.00, NSE: ASKAUTOLTD) Prepared by Sucrit Patil | The SmartWay Research Desk | 29 April 2026 A Gurugram‑based auto ancillary manufacturer, incorporated in 1988. The company specializes in advanced braking systems, aluminium lightweighting solutions, and safety control cables, with strong promoter backing from the Kumar Family. Promoter Holding (Dec 2025): Kumar Family — majority stake FY22–FY26 Snapshot Revenue Growth: Q3 FY26 consolidated revenue ₹1,089 Cr vs ₹919 Cr in Q3 FY25 (+18.5% YoY). → Good Net Profit: Q3 FY26 PAT ₹80 Cr vs ₹66 Cr in Q3 FY25 (+21.3% YoY). → Good Operating Margin: EBITDA ₹146 Cr, margin 13.4% vs 12.5% last year (+88 bps). → Good Equity Capital: Stable, no dilution. → Good Dividend Policy: Yield ~0.34%, consistent payouts. → Good Asset Building: New Bangalore facility and Karoli plant driving economies of scale. → Good Sales: Advanced Braking Systems revenue up 22%; Aluminium Lightweighting up 36%; Safety Control Cables up 22%. → Good Expense: Controlled, with improved capacity utilization. → Good EPS: Q3 FY26 EPS ₹4.05 vs ₹3.34 last year (+21.3%). → Good Institutional Interest & Ownership Trends (Dec 2025) Promoter Holding: Kumar Family — majority stake FII Holding: ~9.6% DII Holding: ~21.4% Retail & Others: ~28.9% Strategic Moves & Innovations Expansion in advanced braking systems for two‑wheelers. Growth in aluminium lightweighting precision solutions. Investments in renewable energy — 9.9 MWp solar plant operational, 11.55 MWp captive solar plant in Rajasthan due Q1 FY27. Reduction in wheel assembly operations to focus on high‑margin segments. Cash Flow & Balance Sheet Strength Strong operating cash flows from braking and aluminium businesses. Debt levels moderate, balance sheet conservative. Green energy investments expected to reduce long‑term costs. Risk Factors Dependence on two‑wheeler demand cycles. Exposure to commodity price volatility. Competition from domestic/global auto component manufacturers. Execution risks in scaling aluminium lightweighting solutions. Investor Takeaway ASK Automotive has delivered nine consecutive quarters of robust growth since listing, with Q3 FY26 marking record revenue, EBITDA, and PAT. The company’s diversified product portfolio and focus on high‑margin segments position it strongly within India’s auto ancillary sector. With promoter strength and strategic investments in renewable energy, ASK Automotive’s long‑term outlook remains positive, though investors should monitor commodity price risks and two‑wheeler demand trends.