ASK Automotive Shares Gain 46% in Six Months as Choice Initiates Coverage With a Buy and Sees 20% Upside: Q1 FY27 Growth, Two-Wheeler Brake Leadership, Valuation, Brokerage Targets and the Risks

ASK Automotive up 46% in 6 months. Choice: Buy, 20% upside. Q1 FY27 PAT Rs 85 cr (+28.8%), EBITDA Rs 160 cr (+34%). 52-wk Rs 375-688. P/E about 38-43x.

Updated: 7 Oct 2026 • 3:24 pm

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ASK Automotive Shares Gain 46% in Six Months as Choice Initiates Coverage With a Buy and Sees 20% Upside: Q1 FY27 Growth, Two-Wheeler Brake Leadership, Valuation, Brokerage Targets and the Risks

Quick Answer

ASK Automotive shares have gained about 46% in six months and about 32% over a year, and Choice Institutional Equities has initiated coverage with a Buy rating and about 20% upside, which implies a target near Rs 780 on a price near Rs 650, my calculation because Choice's own target was not in my sources. The rally rests on Q1 FY27 results in which profit rose 28.8% to Rs 85 crore and EBITDA rose about 34% to Rs 160 crore, with advanced braking system revenue up 48% and aluminium lightweighting up 75%, and on a Rs 700 crore capex plan backed by new ICE and EV orders. Other brokerages are also positive, with ICICI Securities at Rs 750 and a consensus near Rs 678, but the stock trades near 38 to 43 times earnings and more than 80% of its revenue comes from two-wheelers, so it needs growth to continue. The key risks are commodity-cost pressure on margins, capex execution and two-wheeler demand, so the Q2 numbers will test the upside.

ASK Automotive shares are one of the best-performing auto component stocks of the year, and the stock sits close to its 52-week high of Rs 687.70. The company is India's largest maker of brake shoes and advanced braking systems for two-wheelers.

If you hold ASK Automotive or are considering it after the rally, this article covers what Choice Institutional Equities said, the ASK Automotive Q1 results with Rs 85 crore profit, Rs 160 crore EBITDA and ALPS growth, the two-wheeler brake business and customers such as Hero MotoCorp, other brokerage views including Rs 750 from ICICI Securities, valuation, the shareholding, levels to watch, the Rs 700 crore capex plan and the risks.

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Table of Contents

ASK Automotive Shares: The Performance Numbers

Measure	Figure	Note
Six-month return	About 46%	From the headline; another provider shows about 41% to 45%
One-year return	About 32%	From the headline; other providers show 16% to 32% depending on date
Three-month return	About 39%	As of 1 October per MarketsMOJO
Return this year	About 29%	As of 1 October
52-week range	Rs 375.30 to Rs 687.70	The stock trades in the upper part of the range
Price level	About Rs 650, my estimate	Derived from the six-month gain; check live data
Market capitalisation	About Rs 12,000 crore to Rs 12,700 crore	About 19.7 crore shares

ASK Automotive shares jumped about 12% to 16% on 5 August after the Q1 results and have held most of the gain since.

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What Choice Said About ASK Automotive Shares

Item	Detail
Brokerage	Choice Institutional Equities
Action	Initiated coverage with a Buy rating
Upside	About 20% from the current level
Target price	Not in my sources; about Rs 780 if the price is near Rs 650, my calculation
Basis	Growth ahead of the two-wheeler industry, a rising content per vehicle and new capacity, according to coverage of the call

Check Choice's report for the exact target and valuation basis, because my figure is an inference from the 20% upside and an estimated price.

ASK Automotive Q1 Results Behind the ASK Automotive Shares Rally

Metric (Q1 FY27)	Result	Comparison
Revenue	About Rs 1,360 crore	Slightly below analyst estimates
EBITDA	About Rs 160 crore	Up about 34%, about 20% ahead of one brokerage's estimate
Net profit	Rs 85 crore	Up 28.8% from Rs 66 crore
EPS	Rs 4.32	Up 29% from Rs 3.35
Advanced braking systems revenue	Up 48%	Core growth engine
Aluminium lightweighting (ALPS) revenue	Up 75%	Fastest-growing line
Safety control cables revenue	Up 20%	Steady
Exports	About Rs 39 crore	From Rs 33 crore; guidance of 20% export growth
Two-wheeler industry growth	About 22.8%	ASK said it grew faster than the industry

Management linked the industry strength to GST cuts, easier financing and stronger rural demand, which helps ASK Automotive shares, and said new orders across ICE and EV platforms led to a revised capex plan of Rs 700 crore.

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The Two-Wheeler Brake Business Behind ASK Automotive Shares

ASK Automotive makes brake shoes, disc brake pads, brake panel assemblies and advanced braking systems for two-wheelers.
It also makes aluminium lightweight precision parts and safety control cables.
Its customers include Hero MotoCorp, Honda, TVS and Yamaha, and it supplies the EV two-wheeler segment.
It had about 50% of the original-equipment and branded aftermarket brake-shoe volume in FY23, and more than 80% of revenue comes from two-wheelers.
Mandatory anti-lock braking systems on two-wheelers can raise the value of components per vehicle.

This concentration is the strength and the risk of ASK Automotive shares: the company benefits from two-wheeler growth and premiumisation but has little cushion if that cycle turns.

Brokerage Targets for ASK Automotive Shares

Source	View	Target
Choice Institutional Equities	Buy, initiated now	About 20% upside; target not verified
ICICI Securities	Buy, after Q1 results	Rs 750
Consensus on one tracker	Average of several analysts, mostly Buy	About Rs 678, range Rs 500 to Rs 750
HDFC Securities	Add, initiated in March	Rs 480 at that time; stale after the rally
MarketsMOJO	Buy, upgraded from Hold in July	Quant rating, not a target

Because the stock has moved past some older targets, check the dates before relying on any single figure.

Valuation and Shareholding of ASK Automotive Shares

Measure	Figure	Comment
Trailing P/E	About 38 to 43 times	On EPS of about Rs 15 to Rs 16
Revenue and profit, trailing	About Rs 4,643 crore and Rs 317 crore	Per one provider
Return on equity	About 23% to 26%	High
Price to book	About 8.8 times	Premium
Promoters	About 75%	After a 4% sale in November 2025 to meet public holding norms
FIIs and DIIs	About 9.5% and 11%	SBI Mutual Fund bought about 4% in November 2025

At 38 to 43 times earnings, ASK Automotive shares already assume strong growth, so a 20% target needs earnings to compound in the high teens.

Levels to Watch for ASK Automotive Shares

Level	Type	Why it matters
Rs 687.70	52-week high	Key resistance
About Rs 645 to Rs 650	Recent trading zone	Support and resistance
About Rs 618	Close after the Q1 results rally	First support
About Rs 570	Pre-results level	Deeper support
Rs 375.30	52-week low	Major support

These are reference levels from reported prices and not recommendations.

Risks Behind the ASK Automotive Shares Rally

Commodity costs: Rising input costs can squeeze margins, which investors in ASK Automotive shares are watching.

Concentration: More than 80% of revenue comes from two-wheelers.

Capex execution: A Rs 700 crore expansion needs on-time delivery and demand.

Valuation: A P/E near 40 leaves little room for a miss.

Demand cycle: A slowdown in two-wheeler sales after the festive season would hit ASK Automotive shares.

What to Watch Next for ASK Automotive Shares

Q2 FY27 results for margins and the ABS and ALPS segment growth.
Festive-season two-wheeler sales and dispatches.
Progress on the Rs 700 crore capex and new EV orders.
Export growth against the 20% guidance.
Choice's report and other brokerages' target changes.

Conclusion

ASK Automotive shares are up about 46% in six months, helped by Q1 profit growth of 28.8%, 48% growth in braking systems and a Buy from Choice with about 20% upside. A P/E near 40, margin pressure and a heavy two-wheeler dependence mean Q2 must deliver. Consult a SEBI-registered advisor before making any decision.

Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

Why have ASK Automotive shares gained 46% in six months?

Ans. ASK Automotive shares rose on strong Q1 FY27 growth, new ICE and EV orders, a Rs 700 crore capex plan and positive brokerage coverage.

What does Choice say about ASK Automotive?

Ans. Choice Institutional Equities initiated coverage with a Buy rating and about 20% upside. The exact target was not in my sources.

What were the ASK Automotive Q1 results?

Ans. Behind the ASK Automotive shares rally, net profit rose 28.8% to Rs 85 crore, EBITDA rose about 34% to Rs 160 crore and revenue was about Rs 1,360 crore.