ASK Automotive aluminium lightweighting reaches 58% of Q2 revenue

ASK Automotive reported that Aluminium LW Precision Solutions accounted for 58.0% of its consolidated Q2 FY27 product revenue mix, up from 50.6% a year earlier, after segment revenue rose 69% to Rs 902 crore. The segment grew faster than Advanced Braking Systems and Safety Control Cables in the quarter.

How did ASK Automotive’s Q2 FY27 product mix change?

ASK Automotive’s Aluminium LW Precision Solutions (ALPS) became the largest reported product segment at 58.0% of Q2 FY27 revenue, increasing 7.4 percentage points from 50.6% in Q2 FY26. Advanced Braking Systems (ABS) represented 36.6%, compared with 37.1% a year earlier, while Safety Control Cables (SCC) accounted for 3.3%, down from 3.7%.

The comparison was also affected by the end of Wheel Assembly (WA) sales from April 1, 2026. WA represented 5.0% of the Q2 FY26 product mix but was nil in Q2 FY27. Other products fell to 2.1% from 3.6%, meaning ALPS gained share while every other disclosed segment either declined as a proportion of revenue or ceased sales.

ASK Automotive’s two-wheeler internal-combustion-engine (2W-ICE) channel remained the largest at 71.4% of Q2 FY27 revenue, up from 69.1%. Two-wheeler electric vehicle revenue was 6.1%, versus 4.6%, passenger vehicle revenue was 3.8%, versus 3.1%, and exports were 4.5%, versus 2.8%.

How quickly did ASK Automotive’s aluminium segment grow?

ASK Automotive’s ALPS revenue rose 69% year on year to Rs 902 crore in Q2 FY27 from Rs 534 crore in Q2 FY26, an increase of Rs 368 crore. This was the fastest growth rate among the three disclosed continuing product segments and exceeded the 16.5% increase in two-wheeler industry production to 81 lakh vehicles from 69 lakh vehicles.

ABS revenue increased 46% to Rs 569 crore from Rs 391 crore, adding Rs 178 crore. SCC revenue increased 33% to Rs 52 crore from Rs 39 crore, adding Rs 13 crore. ALPS therefore delivered both the largest absolute revenue increase and the highest percentage increase among the named continuing segments.

ASK Automotive reported a similar pattern for H1 FY27. ALPS revenue rose 72% to Rs 1,686 crore from Rs 982 crore, while ABS rose 47% to Rs 1,051 crore and SCC rose 27% to Rs 91 crore. ALPS represented 57.9% of the H1 FY27 mix, compared with 50.5% in H1 FY26.

What did the shift coincide with in ASK Automotive’s Q2 results?

ASK Automotive reported consolidated total income of Rs 1,561 crore in Q2 FY27, up 47.5% from Rs 1,059 crore in Q2 FY26. Net revenue increased 29.5% to Rs 1,303 crore from Rs 1,006 crore; the presentation stated that growth excluding the pass-through alloy-price impact was 23.0%, with a Wheel Assembly impact of negative 5.0%.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 30.0% to Rs 185 crore from Rs 142 crore. Profit after tax (PAT) increased 27.3% to Rs 102 crore from Rs 80 crore. EBITDA margin declined to 11.8% from 13.4%, while PAT margin declined to 6.5% from 7.5%.

ASK Automotive attributed the lower EBITDA percentage to pass-through alloy prices. The presentation reports the company-level margin change and the 58.0% ALPS mix, but it does not disclose segment-level profitability for ALPS, ABS or SCC.

For H1 FY27, ASK Automotive reported total income of Rs 2,922 crore, up 49.6% from Rs 1,954 crore. Net revenue rose 27.6% to Rs 2,365 crore, EBITDA rose 31.3% to Rs 348 crore and PAT rose 28.0% to Rs 187 crore; EBITDA margin was 11.9%, compared with 13.6% in H1 FY26.

What is ASK Automotive planning after the aluminium increase?

ASK Automotive says its strategy includes diversifying ABS and ALPS offerings and expanding in passenger vehicle and commercial vehicle markets. It also identifies electrification, exports, the independent aftermarket, and design, research and development and engineering capabilities as focus areas, without disclosing revenue targets for those initiatives.

ASK Automotive began regular supply of high-pressure die-cast (HPDC) alloy wheels to a leading Japanese customer on August 3, 2026, under a technical collaboration with Kyushu Yanagawa Japan. The company described this as the first introduction of HPDC alloy wheels in India’s two-wheeler market.

ASK Automotive lists its collaboration with Kyushu Yanagawa Seiki Co., Ltd., Japan, as beginning in 2025 and covering high-pressure aluminium die-casting technology for motorcycle wheels. It also lists a 2024 technical collaboration with LIOHO, Taiwan, involving automotive system components and metal parts, including alloy wheels.

ASK Automotive’s Q2 FY27 channel mix remained concentrated in 2W-ICE at 71.4%, while 2W-EV accounted for 6.1%, the independent aftermarket accounted for 10.1%, passenger vehicles accounted for 3.8% and exports accounted for 4.5%. Its stated plan to grow EV, passenger vehicle, commercial vehicle, export and aftermarket business provides the disclosed context for diversification beyond the largest channel.

Conclusion

ASK Automotive’s Q2 FY27 results show a clear product-mix shift toward Aluminium LW Precision Solutions. ALPS reached 58.0% of revenue after rising 69% to Rs 902 crore, ahead of ABS growth of 46% and SCC growth of 33%, while Wheel Assembly sales became nil from April 1, 2026.

The next disclosures should show whether ALPS maintains a share near its H1 FY27 level of 57.9% as ASK Automotive pursues new ABS and ALPS offerings, EV, passenger vehicle, commercial vehicle, export and aftermarket opportunities. The rollout of HPDC alloy-wheel supply that began on August 3, 2026, and the stated pass-through alloy-price effect on EBITDA margin are further items to watch.