Automotive Stampings and Assemblies LimitedQ2 FY27 Results & Financial Update
Automotive Stampings and Assemblies Limited: Q2 FY27 standalone results and company financials – revenue ₹336.70 Cr, PAT ₹10.07 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Automotive Stampings and Assemblies Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Automotive Stampings and Assemblies Limited recorded revenue from operations of INR 336.70 crore for the quarter ended September 30, 2026, marking a significant expansion compared to INR 253.33 crore reported in the preceding quarter (Q1 FY27).
Profit before tax (PBT) for Q2 FY27 stood at INR 13.62 crore, more than doubling from INR 6.26 crore in the first quarter of the fiscal year. Net profit after tax (PAT) reached INR 10.07 crore, up from INR 4.69 crore sequentially.
Earnings per share (EPS) for the quarter rose to INR 6.35 from INR 2.95 in the June 2026 quarter. Total income for the period was reported at INR 337.11 crore.
Cost of materials consumed increased to INR 251.46 crore in Q2 FY27 from INR 184.25 crore in Q1 FY27, moving in tandem with higher operational activity and revenue generation.
Changes in inventories of finished goods and work-in-progress showed a positive inventory adjustment of INR 60.07 crore, reflecting accumulation relative to opening production levels.
Other expenses stood at INR 53.48 crore for the quarter, compared to INR 41.46 crore in the previous quarter.
Finance costs remained stable at INR 3.68 crore, while depreciation and amortisation expense was recorded at INR 4.96 crore.
01 · Business model
What does Automotive Stampings and Assemblies do?
Automotive Stampings and Assemblies Limited (ASAL) manufactures sheet metal stampings, welded assemblies, and modular components for the automotive industry. Part of the Tata enterprise, the company supplies vehicle body parts and structural assemblies to major commercial vehicle and passenger car manufacturers.
The company operates multiple manufacturing facilities strategically located in key automotive clusters across India, including Chakan (Pune) in Maharashtra, Pantnagar in Uttarakhand, Sanand in Gujarat, and Jamshedpur in Jharkhand. This footprint places ASAL in proximity to major original equipment manufacturers (OEMs).
ASAL's revenue model depends on continuous automotive production volumes, raw material steel pricing dynamics, and multi-year platform contracts with vehicle manufacturers. Its operations involve high capital intensity, precision tooling, pressing capacity, and automated robotic welding lines.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹336.70 Cr | ₹253.32 Cr |
| Total income | ₹337.11 Cr | ₹253.90 Cr |
| Profit before tax | ₹13.62 Cr | ₹6.26 Cr |
| Profit after tax | ₹10.07 Cr | ₹4.69 Cr |
| EPS | ₹6.35 | ₹2.95 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 3.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 4.0% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹0.41 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations expanded to INR 336.70 crore in Q2 FY27 from INR 253.33 crore in Q1 FY27, reflecting higher offtake from automotive customers across active vehicle platforms.
What drove margins
Cost of materials consumed rose to INR 251.46 crore, offset by a positive change in inventories of finished goods and work-in-progress of INR 60.07 crore.
Other expenses increased to INR 53.48 crore alongside higher manufacturing activity, while employee benefits expense rose to INR 15.92 crore.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates in a single business segment: the manufacturing of automobile components, in accordance with Ind AS 108 'Operating Segments'.
05 · Reported developments
What changed operationally
Q2 FY27 net profit more than doubled sequentially to INR 10.07 crore accompanied by an increase in basic EPS to INR 6.35.
06 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for the half year ended September 30, 2026, was INR 20.25 crore, compared to INR 44.14 crore in the corresponding previous period.
Capital allocation & funding
Current borrowings stood at INR 54.76 crore as of September 30, 2026, down from INR 70.28 crore as of March 31, 2026. Non-current and current lease liabilities were recorded at INR 42.59 crore and INR 8.92 crore respectively.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Senior Management Appointment
The company appointed Mr. Prafullkumar Hulsure as Head - IT & Digital as a Senior Management Personnel effective October 26, 2026.
08 · Previous-quarter changes
What changed since the previous quarter
Revenue increased by approximately 32.9% and PAT grew by over 114% compared to Q1 FY27.
09 · Key Q&A
The quarter, answered directly
What does Automotive Stampings and Assemblies do?
Automotive Stampings and Assemblies Limited (ASAL) manufactures sheet metal stampings, welded assemblies, and modular components for the automotive industry. Part of the Tata enterprise, the company supplies vehicle body parts and structural assemblies to major commercial vehicle and passenger car manufacturers.
What is the clearest takeaway from Q2 FY27?
Automotive Stampings and Assemblies Limited recorded revenue from operations of INR 336.70 crore for the quarter ended September 30, 2026, marking a significant expansion compared to INR 253.33 crore reported in the preceding quarter (Q1 FY27).
What drove revenue or demand?
Revenue from operations expanded to INR 336.70 crore in Q2 FY27 from INR 253.33 crore in Q1 FY27, reflecting higher offtake from automotive customers across active vehicle platforms.
What mattered most for margins or profitability?
Cost of materials consumed rose to INR 251.46 crore, offset by a positive change in inventories of finished goods and work-in-progress of INR 60.07 crore.
What changed operationally beyond the headline numbers?
The company appointed Mr. Prafullkumar Hulsure as Head - IT & Digital as a Senior Management Personnel effective October 26, 2026.
What should the next disclosure help confirm?
Monitor subsequent quarterly disclosures for revenue sustainability and raw material cost trends.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Sustained Order Intake and Margins: Monitor subsequent quarterly disclosures for revenue sustainability and raw material cost trends.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.