ASK Automotive (ASKAUTOLTD) Q2 24/25 earnings summary

Executive summary

• Achieved record revenue and profitability in Q2 and H1 FY25, with strong growth across all business verticals and outperformance of industry averages, driven by higher volumes, cost optimization, and capacity utilization.

• Major investments in new manufacturing facilities and renewable energy initiatives are underway, including the Karoli mega plant and Bengaluru plant.

• Outperformed two-wheeler industry growth, supported by strong demand and positive market sentiment, especially during the festive season.

• Completed IPO in November 2023, raising ₹833.91 crore through an offer for sale.

Financial highlights

• Q2 FY25 revenue grew 22% year-over-year to ₹976 crore; H1 FY25 revenue up 26% to ₹1,841 crore.

• Q2 FY25 EBITDA increased 50% year-over-year to ₹119 crore; H1 FY25 EBITDA up 55% to ₹222 crore.

• Q2 FY25 PAT rose 63% year-over-year to ₹67 crore; H1 FY25 PAT up 63% to ₹124 crore.

• EPS for H1 FY25 increased to ₹6.3 from ₹3.86 year-over-year; Q2 FY25 EPS at ₹3.41.

• Consolidated EBITDA for H1 FY25 was ₹204.90 crore, up from ₹131.47 crore in H1 FY24.

Outlook and guidance

• Expectation to maintain or improve 12% EBITDA margin for the full year, with further improvement targeted next year.

• Construction of the new Bengaluru plant is progressing on schedule, targeting operational status in Q4 FY25.

• Exports expected to surpass last year's numbers, with a new recurring annual export order of ₹75 crore starting mid-January, targeting ₹250–300 crore in export revenue for FY26.

• Alloy Wheels business at Bengaluru plant to commence next financial year after testing; revenue guidance to be provided post-approval.

• Solar power plant commissioning is imminent, supporting ESG and cost initiatives.