New Delhi,: ASK Automotive Limited, a leading brake shoe and advanced braking systems manufacturer for two-wheelers in India, has announced the financial results for the fourth quarter and full year ended March 31, 2024.
Q4 FY24: The company recorded consolidated total income of INR 785.86 crore, a YoY growth of 38%. In the EV segment the revenue was at INR 33.15 crore with 91% YoY growth. EBITDA for was at INR 85.67 crore with 71% YoY growth.
PAT was at INR 47.76 crore with 112% YoY growth. This includes a one-time deferred tax gain of INR 3.51 crore recognised in ASK Automobiles Private limited (wholly-owned subsidiary of ASK Automotive Limited).
FY24: Total consolidated income for FY24 stood at INR 3004.95 crore, a growth of 17% YoY. In the EV segment revenue stood at INR 120.44 crore with 133% YoY growth. Export business delivered revenue of INR 146. 64 crore with 58% YoY growth. EBITDA was at INR 311.02 crore with +26% YoY growth. FY24 PAT stood at INR 173. 77 crore with 41% YoY growth.
All the three product segments performed well on delivering revenue growth in FY24. Sustained market leadership position in the Advanced Braking System business with +23% YoY growth in Q4 FY24 and +7% growth in FY24. The Aluminium Light Weighting Precision Solutions revenue grew by +73% in Q4 FY24 and +29% in FY24. The Safety Control Cable also recorded revenue growth of +32% in Q4 FY24 and +36% in FY24, the company said in a media release.
