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Advanced Braking Systems Aluminum Lightweighting Precision Solutions Safety Control Cables Quarterly Earnings Call || Q3 FY26 ASK AUTOMOTIVE LIMITED https://askbrake.com 1
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Content 2 01 02 03 08 04 05 Overview: ASK Group Financial Performance-Q3 & 9M FY26 Key Growth Strategies Technical Collaborations & Joint Ventures Transition towards Renewal Energy 4 5-10 11 22-24 12 13 06 Customer Relationship and Recognitions 07 Others Annexures 14-15 16-20
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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
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ASK Group Overview - ASK is a leading Brand in 2W Braking Segment in India 4 ~50% Market Share in 2W’s AB systems in India 18 State of the art Manufacturing Facilities 30+ Years Experience in safety products and solutions EV & Non-EV Powertrain agnostic products 5 Technical Collaborations & 3 Joint Ventures With World class global players 14 Exporting countries Strong In- house R&D, Engineering and Design Centre Long standing relations with all top 2W ICE and EV customers 45% Aluminum Lightweighting Precision Solutions 4% Safety Control Cables 37% Advanced Braking Systems 11% Wheel Assembly 3% Others FY 2024-25 Total Income Rs. 3613 Crore (USD 425Mn)* Product Segments *Assumed 1USD=INR 85
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Key Business Performance Highlights - Q3 & 9M FY26 (Consolidated) 5 Q3 FY26 : ❖ Highest ever Revenue, EBITDA and PAT ❖ Revenue growth outperformed Industry growth ❖ Revenue growth up +28.0% YOY* Wheel Assembly strategic reduction (-) 51.5% Consolidated Revenue Growth up +18.5% EBITDA up +26.8%, PAT up +21.3% YOY ❖ EBITDA Margins at 13.4%, up +88 bps YoY ❖ EPS at Rs 4.05, up+21.3% YOY *Excluding Wheel Assembly business 9M FY26: ❖ Strong Finish to 9M FY26 in Revenue, EBITDA and PAT ❖ Revenue growth outperformed Industry growth ❖ Revenue growth up +18.6% YOY* Wheel Assembly strategic reduction (-) 52.8% Consolidated Revenue Growth up +10.2% ❖ EBITDA up +21.9%, PAT up +18.8% YOY ❖ EBITDA Margins at 13.5%, up +130 bps YoY ❖ EPS at Rs 11.45, up+18.8% YOY ❖ EBITDA margin improvement resulting from:- ▪ Higher Volume driven economies of scale ▪ Increasing Capacity utilization of Karoli and new Bangalore facility ▪ Strategic Reduction in low value-added Wheel Assembly business (-) 52.8%
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66 80 Q3 FY25 Q3 FY26 Financial Performance of Q3 FY 26 (in Crores) - Consolidated +21.3% 12.5% 13.4% 7.2% 7.3% Q3 FY25 Q3 FY26 EBITDA % PAT % 115 146 Q3 FY25 Q3 FY26 EBITDA +26.8% PAT EBITDA and PAT Margins% 809 1036 Q3 FY25 Q3 FY26 Excluding Wheel Assembly 110 53 Q3 FY25 Q3 FY26 919 1089 Q3 FY25 Q3 FY26 +28.0% (-) 51.5% +18.5% Wheel Assembly Consolidated TOTAL INCOME 6
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190 226 9M FY25 9M FY26 Financial Performance of 9M FY 26 (in Crores) - Consolidated +18.8% 12.2% 13.5% 6.9% 7.4% 9M FY25 9M FY26 EBITDA % PAT % 337 411 9M FY25 9M FY26 EBITDA +21.9% PAT EBITDA and PAT Margins% 2435 2889 9M FY25 9M FY26 Excluding Wheel Assembly 325 153 9M FY25 9M FY26 2760 3042 9M FY25 9M FY26 +18.6% (-) 52.8% +10.2% Wheel Assembly Consolidated TOTAL INCOME 7
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Revenue by Product Segment and Channel Q3 FY26 – Consolidated ABS, 37.9% ALPS 49.7% WA, 4.9% SCC, 4.2% Others, 3.3% ABS, 36.8% ALPS 43.4% WA, 12.0% SCC, 4.1% Others, 3.7% 2W-ICE, 68.0%2W-EV, 4.5% PV, 3.1% IAM 11.4% WA, 4.9% Exports, 3.5% Others, 4.6% Q3 FY26Q3 FY25 Product Segment Channel 2W-ICE, 61.9% 2W-EV, 4.6% PV, 2.8% IAM 10.8% WA, 12.0% Exports, 3.7% Others, 4.1% 8
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Revenue by Product Segment and Channel 9M FY26 – Consolidated ABS, 37.2% ALPS 50.2% WA, 5.1% SCC, 3.9% Others, 3.7% ABS, 36.5% ALPS 44.5% WA, 11.8% SCC, 3.9% Others, 3.3% 2W-ICE, 68.3%2W-EV, 4.7% PV, 3.2% IAM 10.3% WA, 5.1% Exports, 3.3%Others, 5.1% 9M FY269M FY25 Product Segment Channel 2W-ICE, 64.6% 2W-EV, 4.1% PV, 2.7% IAM 9.3% WA, 11.8% Exports, 3.9% Others, 3.5% 9
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Product Segment Revenue (Rs. Crores) YoY- Consolidated 337 411 Q3 FY25 Q3 FY26 397 538 Q3 FY25 Q3 FY26 Advanced Braking Systems Aluminium LW Precision Solutions Safety Control Cables 38 46 Q3 FY25 Q3 FY26 +22% +36% +22% 1005 1126 9M FY25 9M FY26 1225 1521 9M FY25 9M FY26 Advanced Braking Systems Aluminium LW Precision Solutions Safety Control Cables 107 117 9M FY25 9M FY26 +12% +24% +10% 10
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Strengthen position in the growing EV sector in India Electrification - EV Independent After Market Diversify product offering in AB systems and ALP solutions and expand market in PV and CV segment Leverage export opportunities and enter new markets Diversify Product Offerings Expand IAM channel network and increase focus on IAM sales and spares Focus on Export Develop innovative systems and solutions and have strong pipeline of products Key Growth Strategies Focus on design, R&D, Engg capabilities 11
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World Class Technical Collaborations and Joint Ventures 12 2001 - Japanese Manufacturer A prestigious manufacturer & supplier of Non-asbestos Brake Shoes to the world’s leading 2W manufacturers 2016 - HSH Safety Control Cable Ind. Co. Ltd. Leading manufacturer of high-quality control cables and with more than six decades of experience in global markets 2016 - NUCAP , Canada A Patented Retention Systems - Mechanical Bonding Disc Brake Pads for 2W, PV and CV 2024 - LIOHO, TAIWAN A Leading Player in manufacturer of automotive system components and metal parts including Alloy Wheel 2018 - FRAS-LE, Brazil A Randon group company, Fras-le is a global leader in brake linings and pads for commercial vehicles, supplying to global OEMs 2001 2016 2016 2024 2024 - AISIN, Japan AISIN Group Companies, a leading Japanese OE Auto Components supplier, is among the Top 10 global Tier One automotive suppliers of Passenger Car products 2025 2025 - Kyushu Yanagawa Seiki, Co., Ltd., Japan A leading Motorcycle wheel supplier with high pressure aluminum die casting technology 2025- T D Holding Gmbh For Manufacturing of Sunroof Operating Cables for passenger Vehicles with proven licensed technical know how. 2018 2024 2025 TDH, Germany
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PNG usage (units in SCM millions) Solar usage (units in kWh millions) 6.29 7.20 7.45 7.28 9.55 2021 2022 2023 2024 2025 0.31 0.42 0.60 2.82 4.31 2021 2022 2023 2024 2025 ESG - Transition towards Renewable Energy ▪ Clear focus towards Renewal Energy ▪ Replaced diesel with PNG in melting furnaces ▪ 9.9 MWp Solar Power Plant for captive consumption operationalized in April 2025 ▪ Upcoming one more Captive Solar power plant of 11.55 MWp in Rajasthan and expected to be operational by Q1 FY27. 13
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Long-standing Relationship with Indian and Global OEM players 2W Customers Years of Relationship 32 24 23 23 22 18 2 Wheelers-ICE 2 Wheelers-EV 4 Wheelers Commercial Vehicle Export Customers Polaris Inc. OLA ^ Supplied through JV Hero MotoCorp Limited Hero MotoCorp Limited 14
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7 Awards for Excellence in Development 12 Awards for Excellence in Quality 9 Awards for Excellence in Performance 6 Awards for Excellence in Cost Innovation Awards and Recognitions 15 India’s Best Managed Companies 2025 Award by Deloitte 15
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Brake Lining Brake Pad Brake Pad Brake Shoe Brake Pad CV (Joint Venture)4W2W 3W Brake Panel Case Mission Brake Shoe Brake Shoe Exports2W Pillion Grip Crank Case Engine Cover Cylinder Block PV Throttle Body Filter Housing ECU Body Demolition HammerFan EV Geared Pulley Battery housing Electric motor housing Speedometer Cable Assembly Front Brake Cable Assembly Rear Brake Cable Assembly Gear Shift CableThrottle Cables Diverse & Extensive Product Portfolio ECU Housing 16 Base Adaptor Cover Bottom 2W 2W 2W 3W Advanced Braking System Aluminum LW Precision Solutions Safety Control Cables
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Kuldip Singh Rathee - Chairman & MD Prashant Rathee – Joint Managing Director Aman Rathee – Joint Managing Director Rajesh Kataria - Whole-Time Director Vijay Rathee Non-Executive Director • Bachelor’s degree in arts (Economics Honours) from Delhi University • Served in the Central Reserve Police Force and was directly recruited for the post of deputy superintendent of police in 1974 and served till 1978 • Previously enlisted as a contractor in Class I (B&R) with the Directorate General of Works, Central Public Works Department, Government of India • Experience in the real estate sector and in the manufacturing sector • Bachelor’s degree in science and a master’s degree in science (Zoology) • Experience in the banking sector and the manufacturing sector and was previously associated as an officer with Punjab & Sind Bank • Bachelor’s degree in commerce from Delhi University • Previously a director on the board of A.A. Autotech Private Limited from 2008 till it merged with ASK Automotive. • Extensive experience in the manufacturing sector • Bachelor’s degree in science (engineering) and a master’s degree in business administration from Purdue University, Indiana (USA) and a certification in M&A from Harvard Business School, Massachusetts (USA) • Previously a director on the board of A.A. Autotech Private Limited from 2012 till it merged with ASK Automotive • Extensive experience in the manufacturing sector • Bachelor’s degree in business administration and a master’s course in business administration (human resources) • Currently responsible for Operational Management of the Company Vinay Kumar Piparsania - Independent Director Deepti Sehgal - Independent Director Kumaresh Chandra Misra - Independent Director Yogesh Kapur - Independent Director • Bachelor’s degree in technology (mechanical engineering) from Indian Institute of Technology, Delhi and a master’s degree in business administration from Tulane University, New Orleans, Louisiana (USA) • 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 • Bachelor’s degree in arts, a bachelor’s degree in law, a postgraduate diploma in business administration from Indian Institute of Management, Ahmedabad, Gujarat and a master’s degree in arts (political economy) from Boston University, Boston, Massachusetts (USA) • A retired IAS officer and previously Joint Secretary with the Ministry of Chemicals and Fertilizers. • Bachelor’s degree in commerce (honours) from University of Delhi, Delhi and is a fellow of the Institute of Chartered Accountants of India • Experience in investment banking and was previously associated with Axis Capital Limited and was also the managing director at Enam Securities Private Limited. He was also associated with HDFC for 8 years • Currently on the board of several renowned and leading companies across diverse industries. • Bachelor’s degree in commerce from the University of Delhi, and a postgraduate diploma in business administration from Indian Institute of Management, Ahmedabad, Gujarat • Experience in the consultancy sector and was previously associated with Infogain Corporation, Deloitte Touche Tohmatsu India, GE Capital International Services and IBM India Board of Directors • Bachelor’s degree of technology in aeronautical engineering from the Indian Institute of Technology, Bombay and a Master’s degree in technology with specialization in Aircraft propulsion from the Indian Institute of Technology, Bombay. • Previously associated with Mahindra and Mahindra Limited as President, Automotive and Farm equipment sectors and Eicher Motors Limited as Director – supply chain. • Currently on the board of several renowned and leading companies across diverse industries. Rajan Wadhera- Independent Director 17
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7,000+ WorkforceGujarat Ahmedabad - 1 Plant 18 State of the art Manufacturing Facilities Himachal Pradesh Baddi – 1 Plant Uttarakhand Haridwar – 2 Plants Karnataka Bengaluru (3 Plants) ASK - 1 Plant, WOS - 2 Plants Rajasthan Karoli (WOS) – 1 Plant Corporate Office Haryana Gurugram/Manesar - 9 Plants, JV - 1 Plant Geographical Presence across India 18 WOS - ASK Automobiles Private Limited, a wholly owned subsidiary of ASK Automotive JV - ASK FRAS-LE Friction Private Limited
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ASK Group’s Strengths Powertrain Agnostic product offerings in both EV and Non-EV 5 World Class Technical Collaborations and 3 World Class Joint Ventures Robust financial performance with 20.2% Revenue growth, 42.7% EBITDA growth, 42.5% PAT growth and RoACE of 27.7% in FY25. Credit Rating by Crisil : Long term AA, Short term A1+ 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 Largest manufacturer of 2W Advanced Braking System in India with ~50% market share 19
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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 SPORTS TALENT NURTURING CONSERVATION HEALTH CARE 20
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Annexure 21
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Profit and Loss (Q3 & 9M FY26) - Consolidated (in Rs. Crore) 22 Particulars (Rs. Cr) Q3 FY26 Q3 FY25 Q2 FY26 % Change % Change 9M FY26 9M FY25 % Change (YoY) (QoQ) (YoY) Revenue 1084.2 915.1 1053.7 3029.2 2751.2 Other Income 4.7 4.2 4.9 13.2 8.9 Total Income 1088.9 919.3 1058.5 18.5% 2.9% 3042.4 2760.0 10.2% Cost of Material Consumed 712.6 626.7 705.5 2039.3 1919.9 Change in inventories 3.3 -9.1 -14.9 -61.9 -47.8 Employees Benefit Expenses 55.6 47.8 55.4 164.4 143.6 Other Expenses 172.0 139.6 171.0 490.6 410.3 Dies for own use -0.2 -0.6 -0.4 -0.9 -2.9 EBITDA 145.6 114.8 142.0 26.8% 2.5% 410.8 336.9 21.9% EBITDA margin (%) 13.4% 12.5% 13.4% 88 bps -4 bps 13.5% 12.2% 130 bps Depreciation 29.0 22.6 27.9 83.3 64.4 EBIT 116.6 92.2 114.1 327.6 272.6 Finance Cost 11.9 7.5 12.4 34.6 24.7 PBT before profit/(loss) of JV 104.7 84.7 101.7 293.0 247.9 Share in Profit/Loss of JV 0.6 1.2 1.9 3.1 3.5 PBT 105.3 85.9 103.7 296.1 251.4 Income Tax & Deffered Tax 25.4 20.0 23.9 70.3 61.4 PAT 79.9 65.9 79.8 21.3% 0.1% 225.8 190.0 18.8% PAT margin (%) 7.3% 7.2% 7.5% 17 bps -20 bps 7.4% 6.9% 54 bps
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Term Description AB Advanced Braking ALP Aluminium Lightweighting Precision SCC Safety Control Cables AM / IAM Independent Aftermarket OEM Original Equipment Manufacturer ATV All-terrain vehicles 2W Two-wheeler EV Electric Vehicle 3W Three-wheeler PV Passenger Vehicles CV Commercial Vehicles JV Joint Venture Term Description ECU Electric Control Unit MCU Motor Control Unit HMI Human-machine interface HEV Hybrid Electric Vehicles BEV Battery Electric Vehicles ICE Internal Combustion Engine EBITDA Earnings Before Interest, Tax, Depreciation and Amortization CAGR Compounded Annual Growth Rate PAT Profit After Tax RoACE Return on Average Capital Employed RoAE Return on Average Equity Glossary 23
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ASK Automotive Ltd. Adfactors PR 1. Mr. Naresh Kumar : Chief Financial Officer naresh@askbrake.com 2. Mr. Manoj Sharma: Chief General Manager-Investor Relations investor@askbrake.com 1. Mr. Rushabh Shah rushabh.shah@adfactorspr.com For further information Contact 24