ASK Automotive shifts focus to EVs after strong earnings report
ASK Automotive's annual report highlights a year of record financial performance, with a consolidated revenue of INR 3,600 crore, a 20.2% increase, and EBITDA reaching INR 444 crore, with a margin of 12.3%. The company's profit after tax (PAT) rose to INR 248 crore. The company is strategically focusing on the electric vehicle (EV) sector, with its aluminum lightweighting solutions accounting for over 45% of revenue and growing at 28% annually. ASK Automotive aims to strengthen its position in the EV market and diversify its product offerings, supported by investments in manufacturing facilities and R&D, as well as technical collaborations. Additionally, it recommends a final dividend of INR 1.50 per share, subject to shareholder approval at the upcoming AGM.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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