ASK Automotive

ASK Automotive delivered a strong Q3 FY26 with revenue growth of 18.5% YoYCurrent reported value: 18.5% YoY. No comparable prior figure is available in the source record. (excluding wheel assembly, core revenue grew 28%Current reported value: 28%. No comparable prior figure is available in the source record.), EBITDA up 26.8% YoYCurrent reported value: 26.8% YoY. No comparable prior figure is available in the source record., and PAT up 21.3% YoYCurrent reported value: 21.3% YoY. No comparable prior figure is available in the source record.. EBITDA margin expanded 88 bps YoYCurrent reported value: 88 bps YoY. No comparable prior figure is available in the source record. to 13.4%Current reported value: 13.4%. No comparable prior figure is available in the source record., driven by better scale, higher capacity utilization at Karoli and Bangalore plants, and strategic reduction in low-margin wheel assembly business. The GST rate cut from 28% to 18% on tubular products is boosting aftermarket share gains from gray market operators. Management is bullish on Q4 and FY27, citing strong OEM projections and sustained demand. Key risks include aluminium price inflation (which depresses margin percentage by ~30 bps) and global tariff uncertainties impacting exports.