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Advanced Braking Systems Aluminum Lightweighting Precision Solutions Safety Control Cables Quarterly Earnings Call || Q2 FY27 ASK AUTOMOTIVE LIMITED https://askbrake.com
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Content 2 01 02 03 08 04 05 Overview: ASK Group Financial Performance-Q2 & H1 FY27 Key Growth Strategies Technical Collaborations & Partnerships Transition to Renewal Energy 4 5-12 13 23-25 14 15 06 Customer Relationship and Recognitions 07 Others Annexures 16-17 18-22
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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 *Assumed 1USD=INR 94 ASK Automotive Limited Leading Safety Systems Manufacturer ASK Automotive Limited is a Public Listed Indian auto ancillary major, having diversified operations and offers powertrain-agnostic products under Advanced Braking Systems, Aluminium Lightweighting precision solutions and Safety Control Cables business segments. ~50% Market Share in 2W’s AB systems in India 19 State of the art Manufacturing Facilities 37+ Years Experience in safety products and solutions EV & Non-EV Powertrain agnostic products 14 Exporting countries Strong In-house R&D, Engineering, Design Centre and State of the art Tool Room 3 Joint Ventures & 5 Technical Collaborations With World class global players Long standing relations with all top 2W ICE and EV customers LISTED ON NSE-15 NOV 2023 Financial Highlights Last 4 years CAGR 20.0% Revenue 31.9% EBITDA 38.4% EPS Key Ratios FY 2026 0.50 Debt-Equity 0.95 Avg. Debt-EBITDA 26.9% RoACE 51% Aluminium Lightweighting Precision Solutions 4% Safety Control Cables 37% Advanced Braking Systems 5% Wheel Assembly 3% Others FY 2025-26 Total Income Rs. 4196 Crore (USD 446Mn)* Product Segments
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Key Business Performance Highlights - Q2 & H1 FY27 (Consolidated) 5 Q2 FY27 ❖ Robust growth in both top line and bottom line ❖ Highest ever Quarterly Revenue, EBITDA & PAT ❖ Revenue growth outperformed Industry growth ❖ Consolidated Revenue Growth up + 47.5% YOY Passthrough impact of Significant increase in Alloy Prices on revenue + 23.0% Wheel Assembly strategic reduction impact (-) 5.0% Overall Net Revenue Growth up + 29.5% YOY ❖ EBITDA up +30.0%, PAT up +27.3% YOY ❖ EBITDA Margins at 11.8% ❖ Absolute EBITDA remained strong at Rs. 185 Cr. against Rs.142 Cr. in Q2 FY26 . However, EBITDA percentage lower due to pass- through Alloy prices. ❖ EPS at Rs 5.15, up+27.3% YOY , ❖ Commercial Production of Alloy Wheel commenced. ❖ Captive Solar power plant of 11.55 MWp in Rajasthan operationalised in Oct-26. H1 FY27 ❖ Strong H1 FY27 in Revenue, EBITDA and PAT ❖ Revenue growth outperformed Industry growth ❖ Consolidated Revenue Growth up + 49.6% YOY Passthrough impact of Significant increase in Alloy Prices on revenue + 27.1% Wheel Assembly strategic reduction impact (-) 5.1% Overall Net Revenue Growth up + 27.6% YOY ❖ EBITDA up +31.3%, PAT up +28.0% YOY ❖ EBITDA Margins at 11.9% ❖ Absolute EBITDA remained strong at Rs. 348 Cr. against Rs.265 Cr. in H1 FY26 . However, EBITDA percentage lower due to pass- through Alloy prices. ❖ EPS at Rs 9.47, up+28.0% YOY ❖ Absolute EBITDA improvement resulting from:- ▪ Higher Volume driven economies of scale ▪ Benefit from increasing capacity utilisation at Karoli and new Bangalore facility
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Recent Breakthrough 6 • Regular supply of High Pressure Die Casted (HPDC) Alloy Wheel commenced on 3rd August 2026 to our leading Japanese customer under technical collaboration with Kyushu Yanagawa Japan. • First time HPDC alloy wheels introduced in 2 wheelers in India.
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80 102 Q2 FY26 Q2 FY27 Financial Performance of Q2 FY 27 (in Crores) - Consolidated 142 185 Q2 FY26 Q2 FY27 EBITDA +30.0% PAT EBITDA and PAT Margins% 1006 1303 Q2 FY26 Q2 FY27 Net Revenue* +29.5%* TOTAL INCOME 7 13.4% 11.8% 7.5% 6.5% Q2 FY26 Q2 FY27 EBITDA % PAT % 1059 1561 Q2 FY26 Q2 FY27 +47.5% Consolidated *Excluding Passthrough Alloy Prices impact + 23.0% and Wheel Assembly impact (-) 5.0% EBITDA percentage lower due to pass-through Alloy prices.
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146 187 H1 FY26 H1 FY27 Financial Performance of H1 FY 27 (in Crores) - Consolidated 265 348 H1 FY26 H1 FY27 EBITDA +31.3% PAT EBITDA and PAT Margins% 1854 2365 H1 FY26 H1 FY27 Net Revenue* +27.6%* TOTAL INCOME 8 13.6% 11.9% 7.5% 6.4% H1 FY26 H1 FY27 EBITDA % PAT % 1954 2922 H1 FY26 H1 FY27 +49.6% Consolidated *Excluding Passthrough Alloy Prices impact + 27.1% and Wheel Assembly impact (-) 5.1% EBITDA percentage lower due to pass-through Alloy prices.
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Revenue by Product Segment and Channel Q2 FY27 – Consolidated ABS, 36.6% ALPS 58.0% WA*, 0.0% SCC, 3.3% Others, 2.1% ABS, 37.1% ALPS 50.6% WA, 5.0% SCC, 3.7% Others, 3.6% 2W-ICE, 71.4% 2W-EV, 6.1% PV, 3.8% IAM 10.1% WA*, 0.0% Exports, 4.5% Others, 4.0% Q2 FY27Q2 FY26 Product Segment Channel 2W-ICE, 69.1% 2W-EV, 4.6% PV, 3.1% IAM 9.7% WA, 5.0% Exports, 2.8% Others, 5.7% 9 *With effect from 01.04.2026, WA Sales are Nil
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Revenue by Product Segment and Channel H1 FY27 – Consolidated ABS, 36.1% ALPS 57.9% WA*, 0.0% SCC, 3.1% Others, 2.9% ABS, 36.8% ALPS 50.5% WA, 5.1% SCC, 3.7% Others, 3.9% 2W-ICE, 72.9% 2W-EV, 5.9% PV, 3.7% IAM 8.7% WA*, 0.0% Exports, 3.7% Others, 5.1% H1 FY27H1 FY26 Product Segment Channel 2W-ICE, 68.4% 2W-EV, 4.8% PV, 3.3% IAM 9.7% WA, 5.1% Exports, 3.2% Others, 5.5% 10 *With effect from 01.04.2026, WA Sales are Nil
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Product Segment Revenue (Rs. Crores) Q2 FY27- Consolidated 11 391 569 Q2 FY26 Q2 FY27 534 902 Q2 FY26 Q2 FY27 Advanced Braking Systems Aluminium LW Precision Solutions Safety Control Cables 39 52 Q2 FY26 Q2 FY27 +46% +69% +33% 52 0 Q2 FY26 Q2 FY27 Wheel Assembly *With effect from 01.04.2026, WA sales are Nil 69 81 Q2 FY26 Q2 FY27 2W Industry# (Vehicle Production in Lakhs) NIL #SIAM
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Product Segment Revenue (Rs. Crores) H1 FY27- Consolidated 12 715 1051 H1 FY26 H1 FY27 982 1686 H1 FY26 H1 FY27 Advanced Braking Systems Aluminium LW Precision Solutions Safety Control Cables 72 91 H1 FY26 H1 FY27 +47% +72% +27% 100 0 H1 FY26 H1 FY27 Wheel Assembly *With effect from 01.04.2026, WA sales are Nil 129 154 H1 FY26 H1 FY27 2W Industry# (Vehicle Production in Lakhs) NIL #SIAM
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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 13
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World Class Technical Collaborations and Global Partnerships... 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 Aluminium die casting technology 2025 - T D Holding Gmbh (Technical License holding Company of GEMO) For Manufacturing of Sunroof Operating Cables for passenger Vehicles with proven licensed technical know how. 2018 2024 2025 14
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ESG - Transition towards Renewable Energy ▪ Clear focus towards Renewal Energy ▪ 100% conversion of Diesel to PNG in melting furnaces ▪ 9.9 MWp Solar Power Plant for captive consumption operationalized. ▪ One more Captive Solar power plant of 11.55 MWp in Rajasthan operationalised in Oct-26. ▪ Highly Rated by Customers on Sustainability: Maruti – Excellent, TVS – Gold, Hero MotoCorp – 100% compliant, Yamaha – 100% compliant Solar usage (units in kWh millions) 6.3 7.2 7.5 7.3 9.6 33.3 2021 2022 2023 2024 2025 2026 PNG usage (units in SCM millions) 0.3 0.4 0.6 2.8 4.3 7.0 2021 2022 2023 2024 2025 2026 15
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Long-standing Relationship with Indian and Global OEM players 2W Customers Years of Relationship 33 25 24 24 23 19 2 Wheelers-ICE 2 Wheelers-EV 4 Wheelers Commercial Vehicle Export Customers Polaris Inc. ^ Supplied through JV Hero MotoCorp Limited Hero MotoCorp Limited 16
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8 Awards for Excellence in Development 13 Awards for Excellence in Quality 10 Awards for Excellence in Performance 6 Awards for Excellence in Cost Innovation Awards and Recognitions 17 India’s Best Managed Companies 2025 Award by Deloitte 17
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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 GripCrank Case Engine Cover 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 18 Base Adaptor Cover Bottom 2W 2W 2W 3W Advanced Braking System Aluminium LW Precision Solutions Safety Control Cables Alloy Wheel
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Board of Directors 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 on the board of Sumax Engineering Ltd. & 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. • Currently on the board of ASK Automobiles Private Limited. • 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 Relaxo Footwear Ltd, Rico Auto Industries Ltd, Greenlam Ltd, Kirloskar Oil Engines Ltd and 4 other companies. • 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. • 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 G N A Axles Ltd. Rajan Wadhera- Independent Director 19
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10,000+ WorkforceGujarat Ahmedabad - 1 Plant 19 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 – 2 Plant Corporate Office Haryana Gurugram/Manesar - 9 Plants, JV - 1 Plant Geographical Presence across India WOS - ASK Automobiles Private Limited, a wholly owned subsidiary of ASK Automotive JV - ASK FRAS-LE Friction Private Limited 20
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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 16.2% Revenue growth, 24.1% EBITDA growth, 20.1% PAT growth and RoACE of 26.9% in FY26. 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 21
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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 22
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Annexure 23
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Profit and Loss Q2 & H1 FY27 - Consolidated (in Rs. Crore) 24 EBITDA percentage lower due to pass-through Alloy prices. Particulars (Rs. Cr) Q2 FY27 Q2 FY26 Q1 FY27 % Change % Change H1 FY27 H1 FY26 % Change (YoY) (QoQ) (YoY) Revenue 1555.2 1053.7 1358.1 2913.3 1945.0 49.8% Other Income 6.1 4.9 3.0 9.1 8.5 6.8% Total Income 1561.2 1058.5 1361.1 47.5% 14.7% 2922.4 1953.5 49.6% Cost of Material Consumed 1054.4 705.5 1026.3 2080.7 1326.8 56.8% Change in inventories 37.1 -14.9 -85.0 -47.9 -65.2 -26.6% Employees Benefit Expenses 62.0 55.4 61.0 123.1 108.8 13.1% Other Expenses 224.6 171.0 195.4 420.0 318.6 31.8% Dies for own use -1.5 -0.4 -0.2 -1.7 -0.7 132.6% EBITDA 184.6 142.0 163.6 30.0% 12.9% 348.2 265.2 31.3% EBITDA margin (%) 11.8% 13.4% 12.0% -159 bps -19 bps 11.9% 13.6% -166 bps Depreciation 35.6 27.9 33.1 68.7 54.3 26.5% EBIT 149.1 114.1 130.4 279.5 210.9 32.5% Finance Cost 16.4 12.4 15.9 32.3 22.6 42.7% PBT before profit/(loss) of JV 132.7 101.7 114.6 247.2 188.3 31.3% Share in Profit/Loss of JV -1.3 1.9 -2.3 -3.6 2.5 -241.6% PBT 131.4 103.7 112.3 243.6 190.8 27.7% Income Tax & Deffered Tax 29.8 23.9 27.1 57.0 45.0 26.6% PAT 101.6 79.8 85.1 27.3% 19.3% 186.7 145.9 28.0% PAT margin (%) 6.5% 7.5% 6.3% -103 bps 25 bps 6.4% 7.5% -108 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 25
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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 26