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ASK Automotive Q4 Review: ICICI Securities Maintains 'Buy' On Steady Performance; Sees Growth Drivers Intact
ICICI Securities maintain Buy on ASK with an unchanged target price of Rs 535, based on 30x FY27E earnings per share.
15 May 2025, 05:10 PM IST 
ASK reported revenue of Rs 8.5 billion (+9% YoY, -7% QoQ), in line with ICICI Securities' estimate of Rs 8.5 billion.
(Photo source: ASK Automotive website)
ASK has been consistently outperforming growth of the underlying two-wheeler industry led by rising kit value in ALP segment as two- wheeler/three-wheeler industry transitions to EVs, ramp up of two-wheeler SCC business and expansion into PV and non-automotive segments.
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