🔍

Automotive Stampings and Assemblies Limited (ASAL)

₹420.35 +1.35% last close, 16 Oct

📊 NSE: ASAL 🏢 Auto Ancillaries 📢 Latest filing: 14 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

📅 Next results: 23 Oct 2026 (board meeting)

Automotive Stampings and Assemblies Limited's board meets on 23 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Automotive Stampings' revenue was ₹253 Cr (+46.4% year on year, -1.0% on the previous quarter), and net profit ₹4.7 Cr (+56.2% year on year); the operating margin was 5.6%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹253	+46.4%	-1.0%
Operating profit	₹14.1	+28.3%	-21.6%
Net profit	₹4.7	+56.2%	-64.0%
EPS (₹)	2.95	+84.4%	-64.8%
Operating margin	5.6%	—	—

Full quarterly financials → Results calendar →

ASAL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 50.36% of the ASAL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.3%. That is close to its usual level. Turnover was only ₹78 lakh, so a handful of trades can move this figure.

50.36%Delivery, 16 Oct

57.3%Own 20-session average

1.6×Volume vs its average

₹420.35NSE close · +1.35%

Delivery in the last 5 sessions: 26.9% · 62.3% · 64.1% · 60.1% · 50.4%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Automotive Stampings Submits Reg 74(5) Demat Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Oct 2026, 01:53 PM

Automotive Stampings and Assemblies Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The confirmation from RTA MUFG Intime India Private Limited states that securities received for dematerialization during the period July 1, 2026 to September 30, 2026 have been verified, mutilated, and cancelled. The depository's name has been duly substituted in the company's records. This is a standard quarterly regulatory compliance filing with no operational or financial impact.

Compliance certificate filed under Regulation 74(5) of SEBI Depositories Regulations
Covers dematerialization requests processed from July 01, 2026 to September 30, 2026
Confirmation issued by Registrar and Transfer Agent MUFG Intime India Private Limited
All received securities confirmed mutilated, cancelled, and listed on stock exchanges

💡 No action is required as this is a recurring regulatory disclosure. Investors should look out for upcoming quarterly financial results announcements.

ASAL Closes Trading Window from September 24, 2026 for Q2/H1 FY27 Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Sep 2026, 11:36 AM

Automotive Stampings and Assemblies Limited has announced the closure of its trading window starting September 24, 2026. This administrative closure is in accordance with SEBI insider trading regulations for finalizing unaudited financial results for the quarter and half-year ending September 30, 2026. The window will reopen 48 hours after the declaration of the financial results to the stock exchanges.

Trading window closes on September 24, 2026
Pertains to financial results for the quarter and half-year ending September 30, 2026
Trading window reopens 48 hours after the financial results are declared

💡 Track the upcoming board meeting announcement date to see when the Q2 and H1 FY27 financial results will be formally approved and published.

ASAL Announces Resignation and Group Transfer of Purchase Head Sachin Kale

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 17 Sep 2026, 07:53 PM

Automotive Stampings and Assemblies Limited (ASAL) announced that Mr. Sachin Kale, Head - Purchase Department and designated Senior Managerial Personnel, has resigned effective September 17, 2026. The departure is due to an internal transfer, as parent company Tata AutoComp Systems Limited (TACO) has offered him a new role within the TACO Group. This change represents an internal group movement rather than an external disruption. Investors should watch for the appointment of a successor to manage the purchase department.

Head of Purchase Sachin Kale relieved from duties effective September 17, 2026
Departure driven by internal transfer within parent entity Tata AutoComp Systems Limited (TACO)
Resignation tendered and accepted as of close of working hours (17:30 Hrs) on September 17, 2026

💡 Track subsequent company disclosures regarding the appointment of a new Head of Purchase to ensure smooth supply chain continuity.

ASAL Issues KYC Updation Reminder to Physical Shareholders per SEBI Norms

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Sep 2026, 01:13 PM

Automotive Stampings and Assemblies Limited (ASAL) has dispatched reminder letters to physical shareholders to submit their KYC details. The process is administered via its RTA, MUFG Intime India Private Limited, under SEBI circular mandates. Holders are required to register PAN, contact info, bank details, and specimen signatures to ensure electronic dividend disbursement. Since this is an administrative regulatory procedure, there is zero impact on the company's financial operations.

Reminder sent under SEBI Master Circular dated February 06, 2026, and circular dated June 10, 2024
Electronic payment of dividend/interest effective from April 01, 2024, only upon furnishing complete KYC
Requires submission of PAN, address with PIN code, mobile number, bank account, and specimen signature via Form ISR-1 & ISR-2

💡 Physical shareowners should register their KYC details with MUFG Intime India to prevent dividend disruptions. Other investors can track upcoming quarterly earnings and ongoing capex execution.

ASAL Clarifies Q1 Results Signing Authority and NEAPS Technical Delay to NSE

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 21 Aug 2026, 11:33 AM

Automotive Stampings and Assemblies Limited (ASAL) responded to an NSE query regarding Regulation 33 compliance for its Q1 FY27 (quarter ended June 30, 2026) financial results. The company clarified that because the Chairperson attended the July 24, 2026 board meeting via video conference and the company has no Managing Director or Whole-Time Director, Independent Director Prakash Gurav was authorized to sign the results. ASAL also clarified that the submission delay on NSE was caused by a technical glitch on the NEAPS platform, noting the results were filed on time with the BSE.

Board authorized Independent Director Prakash Gurav (DIN: 02004317) on July 24, 2026 to sign Q1 financial results
Company confirmed absence of Managing Director or Whole-Time Director on its Board
NSE submission delay attributed to NEAPS portal technical glitch, with results timely submitted to BSE
Filing made in response to NSE email query dated August 17, 2026

💡 Track standard quarterly corporate disclosures and ensure regulatory closure with NSE without any penalties or further queries.

CRISIL Reviews Ratings for Rs 169 Cr Bank Facilities of ASAL; Long-Term Rated 'A-/Stable'

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 11 Aug 2026, 02:58 PM

CRISIL has reviewed the credit ratings for Automotive Stampings and Assemblies Limited (ASAL), covering bank loan facilities totaling Rs 169 crore. The agency assigned a long-term rating of 'CRISIL A-/STABLE' and a short-term rating of 'CRISIL A2+'. This rating is significant as the rated facilities (Rs 169 cr) represent approximately 4.7x the company's current net worth of Rs 36 cr. The stable outlook reflects the company's strong Tata Group parentage, which provides financial flexibility despite a high debt-to-equity ratio of 3.44.

Total bank loan facilities reviewed by CRISIL amount to Rs 169 crore.
Long-term rating assigned as 'CRISIL A-/STABLE', indicating an adequate degree of safety.
Short-term rating assigned as 'CRISIL A2+'.
The rated facility amount of Rs 169 cr is 36% higher than the company's current reported debt of Rs 124 cr.
Company maintains a high promoter holding of 75.0% by the Tata Group (TACO).

💡 Investors should monitor the company's debt-to-equity levels (currently 3.44) and the execution of its Rs 70-80 Cr capex plan, which aims to diversify the client base beyond Tata Motors.

ASAL Shareholders Approve Material Related Party Transactions and CEO Remuneration at 36th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 31 Jul 2026, 07:49 PM

Automotive Stampings and Assemblies Limited (ASAL) has successfully passed all 16 resolutions at its 36th Annual General Meeting held on July 30, 2026. Key approvals include material related party transactions (RPTs) with various Tata Group entities, which is critical as over 80% of ASAL's revenue is derived from Tata Motors. Shareholders also ratified the remuneration for the CEO, Mr. Suhas Dode, and the re-appointment of Director Arvind Goel. The voting saw a 75.07% turnout of outstanding shares, with near-unanimous support for all items.

All 16 resolutions passed with requisite majority during the AGM held on July 30, 2026
Total of 11,910,157 votes polled, representing 75.07% of the total outstanding shares
Material RPTs approved for entities including Tata Motors Limited, Tata Steel Downstream Products, and Tata Autocomp Systems
32,584 shareholders were on record as of the July 23, 2026 cutoff date
Remuneration and CTC structure revision for CEO Mr. Suhas Dode approved via special resolution

💡 Investors should focus on the upcoming quarterly results to see if the planned Rs 70-80 Cr capex is translating into higher-margin EV component sales, as the administrative hurdles for these operations are now cleared.

ASAL Concludes 36th AGM; Seeks Approval for Material Related Party Transactions

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 30 Jul 2026, 03:31 PM

Automotive Stampings and Assemblies Limited (ASAL) held its 36th Annual General Meeting on July 30, 2026. Shareholders voted on 16 resolutions, including the adoption of FY26 financial statements and the re-appointment of Chairman Arvind Goel. A major focus was the approval of material related party transactions with various Tata Group entities and Fiat India, which is critical given ASAL's 80% revenue concentration with Tata Motors. The company also proposed a revision in the remuneration structure for CEO Suhas Dode.

16 total resolutions were presented for shareholder approval, including 13 ordinary and 3 special resolutions.
Material Related Party Transactions were proposed with 9 entities including Tata Motors, Fiat India, and Tata Passenger Electric Mobility.
The company is pursuing a Rs 70-80 Cr capex program for capacity enhancement and EV component manufacturing.
Statutory Auditors (BSR & Co. LLP) issued a report with no qualifications for the financial year ended March 31, 2026.
Remote e-voting was conducted over a 3-day period from July 27 to July 29, 2026.

💡 Investors should monitor the formal voting results to be published within 2 working days to confirm approval of Related Party Transactions and CEO remuneration changes.

ASAL Concludes 36th Annual General Meeting

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Jul 2026, 12:25 PM

Automotive Stampings and Assemblies Limited (ASAL) conducted its 36th Annual General Meeting (AGM) on July 30, 2026. The meeting was held virtually and concluded within 30 minutes, including the e-voting period. This is a standard regulatory filing summarizing the proceedings as required by SEBI. Investors should note that while this filing is procedural, the company remains highly leveraged with a debt-to-equity ratio of 3.44 and high revenue concentration from Tata Motors (80%).

36th Annual General Meeting successfully held on July 30, 2026
Meeting duration was exactly 30 minutes, from 11:00 AM to 11:30 AM
Promoter holding remains at a high 75.0% as per recent filings
Company is currently executing a ₹70-80 Cr capex program for capacity enhancement

💡 Monitor the exchange for the detailed voting results of the AGM resolutions, which are typically released within two working days.

45% YoY Revenue Growth for ASAL in Q1 FY27; PAT Rises to ₹4.69 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 24 Jul 2026, 01:57 PM

Automotive Stampings and Assemblies Limited (ASAL) reported a strong start to FY27 with revenue from operations growing 45.2% YoY to ₹251.32 Cr. Net profit (PAT) increased by 84.6% YoY to ₹4.69 Cr, up from ₹2.54 Cr in the same quarter last year. While YoY performance is robust, PAT declined sequentially from ₹13.28 Cr in Q4 FY26, which was aided by a significant deferred tax credit. The company maintains a high debt-to-equity ratio of 3.44, reflecting its capital-intensive nature and ongoing capex requirements.

Revenue from operations increased 45.2% YoY to ₹251.32 Cr from ₹173.07 Cr.
Profit After Tax (PAT) grew 84.6% YoY to ₹4.69 Cr compared to ₹2.54 Cr.
Raw material costs rose to ₹184.25 Cr, accounting for 73.3% of total revenue.
Finance costs remained relatively stable at ₹3.56 Cr vs ₹3.63 Cr in the year-ago period.
Earnings Per Share (EPS) improved to ₹2.95 from ₹1.60 YoY.

💡 Investors should monitor the company's progress on its ₹70-80 Cr capex plan and its ability to scale high-margin EV components like battery trays to offset high raw material sensitivity.

ASAL Board Addresses Stock Exchange Fines for Delayed Compliance Officer Appointment

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 24 Jul 2026, 01:47 PM

Automotive Stampings and Assemblies Limited (ASAL) has formally addressed fines levied by BSE and NSE for non-compliance with SEBI Regulation 6(1) regarding the appointment of a Company Secretary. The non-compliance occurred during the quarter and year ended March 31, 2026, which the company attributed to onboarding delays caused by the selected candidate's notice period. The company has since regularized the position by appointing Mr. Krishna Dayma effective March 13, 2026. The board confirmed that all fines and applicable GST have been paid and has directed management to improve internal monitoring.

Non-compliance related to SEBI Regulation 6(1) for the period ending March 31, 2026
Notices of non-compliance were issued by BSE and NSE on May 20, 2026
Mr. Krishna Dayma was appointed as Company Secretary and Compliance Officer effective March 13, 2026
The Board reviewed the matter and confirmed payment of fines on July 24, 2026

💡 Investors should view this as a resolved administrative matter; focus remains on the company's execution of its Rs 70-80 Cr capex plan and EV component growth.

ASAL Schedules 36th AGM for July 30, 2026; Releases FY 2025-26 Annual Report Link

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 10:40 PM

Automotive Stampings and Assemblies Limited (ASAL) has scheduled its 36th Annual General Meeting (AGM) for July 30, 2026, at 11:00 AM via video conferencing. In compliance with SEBI regulations, the company has dispatched physical letters containing a web-link and QR code for the FY 2025-26 Annual Report to shareholders who have not registered their email addresses. This is a procedural filing and does not contain new financial results or material business updates beyond the notification of the report's availability. Investors should note the company's high debt-to-equity ratio of 3.44 and its planned Rs 70-80 Cr capex for capacity enhancement.

36th Annual General Meeting (AGM) scheduled for July 30, 2026
Annual Report for Financial Year 2025-26 made available via web-link and QR code
Physical letters dispatched to members without registered email addresses per Regulation 36(1)(b)
Company maintains a high promoter holding of 75.0% as of March 2026
Planned capex of Rs 70-80 Cr for FY24-25 for capacity enhancement and maintenance

💡 Investors should access the Annual Report through the company's website to review the detailed financial performance and progress on the Rs 70-80 Cr capex plan before the AGM.

ASAL Submits Quarterly Compliance Certificate for Period Ended June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 02:49 PM

Automotive Stampings and Assemblies Limited (ASAL) has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that securities received for dematerialization during the quarter ended June 30, 2026, have been processed. It further verifies that these securities are listed on the stock exchanges where earlier securities were listed. This is a standard administrative filing with no impact on the company's financial or operational standing.

Compliance certificate covers the quarter ended June 30, 2026
Registrar and Share Transfer Agent (RTA) identified as MUFG Intime India Private Limited
Filing submitted to BSE and NSE on July 09, 2026
Confirmation provided for ISIN INE900C01027

💡 No action is required as this is a routine regulatory filing. Investors should monitor the company's upcoming quarterly earnings report for material financial updates.

ASAL to seek approval for ₹360 Cr Related Party Transactions with Tata Motors at 36th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 06 Jul 2026, 10:05 PM

Automotive Stampings and Assemblies Limited (ASAL) has scheduled its 36th Annual General Meeting (AGM) for July 30, 2026. Key agenda items include the approval of material related party transactions (RPT) with Tata Motors Limited (TML) up to ₹360 crore and with Tata AutoComp Hendrickson Suspensions up to ₹100 crore. These limits are crucial as TML accounts for over 80% of ASAL's revenue. The meeting will also address the re-appointment of Chairman Mr. Arvind Goel and the ratification of cost auditor fees for FY26 and FY27.

36th Annual General Meeting scheduled for July 30, 2026, at 11:00 A.M. via Video Conferencing.
Proposed Related Party Transaction limit with Tata Motors Limited (TML) set at ₹360 crore for the period until the 2027 AGM.
Proposed Related Party Transaction limit with Tata AutoComp Hendrickson Suspensions (THSL) set at ₹100 crore.
Cost auditor remuneration proposed at ₹75,000 for FY 2025-26 and ₹85,000 for FY 2026-27.
Mr. Arvind Goel, Chairman with over 40 years of industry experience, is seeking re-appointment as Director.

💡 Investors should monitor the voting results of the AGM to ensure the RPT limits are approved, as these are essential for the company's operational continuity given its high client concentration.

July 30, 2026: ASAL to Hold 36th Annual General Meeting via Video Conferencing

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Jul 2026, 09:54 PM

Automotive Stampings and Assemblies Limited (ASAL) has announced its 36th Annual General Meeting (AGM) for July 30, 2026. The company has established July 23, 2026, as the cut-off date for determining shareholder eligibility for e-voting. The remote e-voting period will span three days, starting July 27 and ending July 29, 2026. This is a standard procedural filing following the conclusion of the 2025-26 financial year.

36th Annual General Meeting scheduled for July 30, 2026, at 11:00 a.m. IST
Cut-off date for e-voting eligibility fixed as July 23, 2026
Remote e-voting window opens July 27, 2026 (09:00 a.m.) and closes July 29, 2026 (05:00 p.m.)
Company maintains a high Debt-to-Equity ratio of 3.44 as per latest financial context

💡 Investors should review the upcoming Annual Report for FY 2025-26 to track the progress of the planned Rs 70-80 Cr capex and the growth of high-margin EV component sales.

View All ASAL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Single segment: Automobile components. Revenue decreased 11.93% YoY to INR 775.28 Cr in FY25 from INR 880.33 Cr in FY24.

Geographic Revenue Split

100% domestic (India), with manufacturing operations located in Pune, Maharashtra and Pantnagar, Uttarakhand.

Profitability Margins

Operating margin expanded to 6.2% in FY25 from 5.8% in FY24. Net profit margin (PBT basis) was 2.16% in FY25 compared to 2.29% in FY24.

EBITDA Margin

EBITDA margin improved to 6.6% in FY25 (INR 51.35 Cr) from 5.9% in FY24 (INR 51.71 Cr) due to a better product mix and cost-saving measures.

Capital Expenditure

Planned capital expenditure of INR 70-80 Cr for FY 2024 and FY 2025 focused on capacity enhancement and maintenance.

Credit Rating & Borrowing

Parent company TACO is rated CRISIL AA/Positive. ASAL's financial risk profile is improving, with net worth turning positive (INR 8 Cr) in FY25 after years of losses. Finance costs were INR 14.90 Cr in FY25.

⚙️ Operational Drivers

Raw Materials

Steel and sheet-metal components, which accounted for 73.47% of total sales (INR 569.63 Cr) in FY 2024-25.

Import Sources

Sourced locally from the vicinity of manufacturing plants in Maharashtra and Uttarakhand to minimize supply chain risks.

Capacity Expansion

Current capacity not disclosed in units; planned expansion through INR 70-80 Cr capex in FY24-25 for capacity enhancement and maintenance.

Raw Material Costs

Raw material costs were INR 569.63 Cr (73.47% of revenue) in FY25, down from INR 682.55 Cr (77.53% of revenue) in FY24, reflecting a 16.5% YoY decrease in absolute material spend.

Manufacturing Efficiency

Operating leverage gains from volume-driven growth; capacity utilization is expected to improve over the medium term.

📈 Strategic Growth

Expected Growth Rate

12%

Growth Strategy

ASAL plans to achieve growth through a INR 70-80 Cr capex program for capacity enhancement, increasing the share of high-margin EV components like battery trays and cooling tubes, and diversifying its customer base beyond the current 80% concentration in Tata Motors.

Products & Services

Sheet-metal stampings, welded assemblies, modules, battery trays for electric vehicles (EV), aluminum cooling tubes, fabrication parts, and tooling.

Brand Portfolio

ASAL, Tata AutoComp.

New Products/Services

Battery trays for electric vehicles (EV) and aluminum cooling tubes, which contributed to a 40 bps expansion in operating margins in FY25.

Market Expansion

Targeting new OEM clients to reduce dependence on the Tata Group.

Strategic Alliances

Joint Venture with Tata AutoComp Systems Ltd (TACO), which holds a 75% stake.

🌍 External Factors

Industry Trends

The auto industry is cyclical and currently transitioning to EVs. ASAL is positioning itself for this shift by developing EV-specific components. Industry growth is expected to moderate as pent-up demand wanes.

Competitive Moat

Strong parentage (Tata Group) and 75% ownership by TACO provide a captive customer base and financial support (unsecured loans), creating a durable competitive advantage.