---
title: "ASL Industries (20503) — Share Price, Financials & Analysis"
symbol: "20503"
company: "ASL Industries"
canonical: "https://tapetide.com/stocks/20503"
isin: "INE617I01024"
nse_symbol: "AVATAR"
sector: "Automobiles"
industry: "Auto Components"
market_cap_cr: 252.51
generated_at: "2026-09-13T18:46:45.023Z"
---

# ASL Industries (20503)

Canonical page: https://tapetide.com/stocks/20503

## Company

- **NSE Symbol:** AVATAR
- **ISIN:** INE617I01024
- **Sector:** Automobiles
- **Industry:** Auto Components
- **Stock Type:** EQUITY
- **Listed Since:** 2017-04-18
- **F&O Eligible:** No

## Latest Price

- **Price:** ₹242.4
- **Change:** 0 (0%)
- **Open:** ₹230.3
- **Day High:** ₹242.4
- **Day Low:** ₹242.4
- **Previous Close:** ₹242.4
- **Volume:** 0
- **As Of:** 2026-09-11T10:01:39+00:00

## Key Fundamentals

Observed at 2026-09-11T04:44:43.933107Z.

- **Market Cap:** ₹252.51 Cr
- **Classification:** SME
- **P/E (reported):** 673.3
- **Book Value:** ₹34
- **Price to Book:** 7.13
- **Dividend Yield:** 0%
- **ROE:** 0.24%
- **ROCE:** 0.27%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹0.4 Cr
- **Net Income:** ₹0.1 Cr
- **EBITDA:** ₹0.1 Cr
- **52-Week High:** ₹258
- **52-Week Low:** ₹45.5
- **RSI (14):** 78.81

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 93.33% | -105.56% | 99.53% |
| ebitda margin growth | -33.17% | -69.06% | — |
| net income growth | -75% | -61% | 15% |
| revenue growth | -69.23% | -46.42% | -49.6% |
| roce | -80.29% | -95.69% | 3.38% |
| roe | -76.7% | 1.99% | -80.65% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4.53 | 7.24 | 3.22 | 0.95 | 7.25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 4.32 | 8.63 | 3.47 | 1.12 | 7.67 | 0.21 | 0.22 | 0.1 | 0.49 | 0.21 | 0.05 | 0.08 |
| Operating Profit | 0.21 | -1.39 | -0.25 | -0.17 | -0.42 | -0.21 | -0.22 | -0.1 | -0.49 | -0.21 | -0.05 | -0.08 |
| OPM % | 4.64 | -19.2 | -7.76 | -17.89 | -5.79 | — | — | — | — | — | — | — |
| Other Income | -0.22 | 0.55 | 2.29 | 0.92 | 1.63 | 1.21 | 1.4 | 0.74 | 0.33 | 0.36 | 0 | 0.34 |
| Interest | 0.45 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.16 | 0.13 | 0.09 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.62 | -0.97 | 1.95 | 0.75 | 1.21 | 1 | 1.18 | 0.64 | -0.16 | 0.15 | -0.05 | 0.26 |
| Tax % | 82.26 | -27.84 | 44.1 | 32 | 15.7 | 25 | 25.42 | 25 | -25 | 26.67 | -60 | 0 |
| Net Profit | -1.13 | -0.7 | 1.09 | 0.51 | 1.01 | 0.75 | 0.88 | 0.48 | -0.12 | 0.11 | -0.03 | 0.26 |
| EPS in Rs | -1.08 | -0.67 | 1.05 | 0.49 | 0.97 | 0.72 | 0.84 | 0.46 | -0.12 | 0.11 | -0.03 | 0.25 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 56.45 | 70.76 | 67.27 | 13.42 | 10.46 | 8.15 | -0.02 | -0.19 | 0 | 0 |
| Expenses | 48.54 | 67.85 | 65.38 | 14.29 | 12.1 | 8.74 | 0.41 | 0.57 | 0.27 | 0.13 |
| Operating Profit | 7.91 | 2.91 | 1.89 | -0.87 | -1.64 | -0.59 | -0.43 | -0.76 | -0.27 | -0.13 |
| OPM % | 14.01 | 4.11 | 2.81 | -6.48 | -15.68 | -7.24 | — | — | — | — |
| Other Income | 0.21 | 0.46 | 0.16 | 5.21 | 2.84 | 2.55 | 2.61 | 1.25 | 0.36 | 0.34 |
| Interest | 3.73 | 3.16 | 2.96 | 1.55 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3.4 | 3.43 | 3.83 | 0.35 | 0.22 | 0.01 | 0.01 | 0.01 | 0 | 0 |
| Profit before tax | 0.99 | -3.22 | -4.74 | 2.44 | 0.98 | 1.95 | 2.17 | 0.48 | 0.09 | 0.21 |
| Tax % | 49.49 | -31.06 | -28.27 | 11.89 | 60.2 | 22.56 | 25.35 | 25 | 11.11 | — |
| Net Profit | 0.49 | -2.22 | -3.4 | 2.15 | 0.39 | 1.51 | 1.63 | 0.36 | 0.09 | 0.23 |
| EPS in Rs | 0.64 | -2.13 | -3.26 | 2.06 | 0.37 | 1.45 | 1.56 | 0.35 | 0.09 | 0.22 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 7.62 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 |
| Reserves | 18.48 | 23.26 | 19.75 | 21.23 | 21.16 | 22.67 | 24.31 | 24.61 | 24.62 | 24.88 |
| Borrowings | 33.09 | 28.42 | 26.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 12.1 | 13.45 | 7.11 | 4.55 | 0.44 | 0.06 | 0.37 | -0.04 | 0.1 | 0.1 |
| Total Liabilities | 71.29 | 75.55 | 63.3 | 36.2 | 32.02 | 33.15 | 35.1 | 34.99 | 35.14 | 35.4 |
| Fixed Assets | 37.59 | 37.93 | 40.49 | 2.73 | 0.03 | 0.03 | 0.02 | 0.02 | 0 | 0 |
| CWIP | 5.4 | 5.67 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0 | 0 |
| Other Assets | 28.26 | 31.91 | 22.77 | 33.43 | 31.95 | 33.08 | 35.04 | 34.93 | 35.14 | 35.4 |
| Total Assets | 71.29 | 75.55 | 63.3 | 36.2 | 32.02 | 33.15 | 35.1 | 34.99 | 35.14 | 35.4 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.26 | 13.15 | -2.42 | 4.62 | -17.24 | -4.25 | -0.69 | 0.36 | -0.3 | -0.02 |
| Cash from Investing Activity | -5.49 | -6.44 | -3.76 | -0.85 | 42.89 | 4.13 | 0.02 | 0 | 0 | 0.06 |
| Cash from Financing Activity | 5.88 | -7.24 | 5.98 | -4.23 | -24.96 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0.65 | -0.54 | -0.2 | -0.46 | 0.68 | -0.12 | -0.67 | 0.36 | -0.3 | 0.04 |

### Ratios

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 35.15 | 36.14 | 39.41 | 26.53 | 97.64 | 130.86 | 4.03 | -547.5 | -38.42 | — |
| Inventory Days | 178.21 | 213.35 | 172.4 | 116.14 | 281.74 | 0 | 0 | 0 | 0 | — |
| Days Payable | 76.33 | 107.36 | 90.32 | 43.38 | 12.2 | — | — | — | — | — |
| Cash Conversion Cycle | 137.03 | 142.13 | 121.49 | 99.29 | 367.17 | 130.86 | 4.03 | -547.5 | -38.42 | — |
| Working Capital Days | -5.77 | -32.46 | -2.48 | -23.39 | 715.04 | 1062.2 | 1465.82 | 621777.5 | 66756.58 | — |
| ROCE % | 6.01 | 8.2 | -0.35 | -2.89 | -0.75 | -0.09 | 6.03 | 6.4 | 1.38 | 0.26 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 70.89% | 71.01% | 26.24% | 26.24% | 26.24% | 26.24% | 26.24% | 0% | 66.32% | 66.32% | 66.32% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 28.49% | 25.92% | 23.81% | 17.24% | 16.93% | 6.76% | 7.3% | 13.04% | 11.98% | 12.71% | 12.35% |
| Others | 0.61% | 3.07% | 49.96% | 56.52% | 56.83% | 67.01% | 66.47% | 86.96% | 21.7% | 20.97% | 21.33% |
| No. of Shareholders | 63 | 68 | 90 | 92 | 91 | 101 | 105 | 104 | 177 | 174 | 160 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 2 / 5

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 243.62 | Sell |
| EMA (10) | 239.15 | Buy |
| SMA (20) | 219.38 | Buy |
| EMA (20) | 221.35 | Buy |
| SMA (50) | 167.56 | Buy |
| EMA (50) | 180.65 | Buy |
| SMA (100) | 131.87 | Buy |
| EMA (100) | 144.74 | Buy |
| SMA (200) | 92.22 | Buy |
| EMA (200) | 110.56 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 78.81 | Sell |
| MACD (12,26,9) | 24.44 | Sell |
| Stochastic (14,3,3) | 81.3 | Sell |
| ADX (14) | 62.33 | Buy |
| Williams %R (14) | -25.87 | Neutral |
| ATR (14) | 7.22 | Neutral |
| ROC (12) | 16.76 | Buy |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 78.27 | Sell |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Jul - Submitted Regulation 74(5) certificate for quarter ended 30 June 2026; no physical certificates received for demat. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 Jul - Submitted Regulation 74(5) certificate for quarter ended 30 June 2026; no physical certificates received for demat.](https://nsearchives.nseindia.com/corporate/ASLIND_09072026180856_Regulation_74_5_.pdf) |
| 9 Feb - Transcript of Quarter 3/Nine months for the FY 2025-26 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript 9 Feb - Transcript of Quarter 3/Nine months for the FY 2025-26](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c1ecbc08-03a1-456d-9b4a-2e06c8017251.pdf) |
| 4 Feb - Newspaper publication of un-audited result of Q3/nine months of FY 25-26 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Feb - Newspaper publication of un-audited result of Q3/nine months of FY 25-26](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4216a4ab-e87d-46aa-850b-70618120568f.pdf) |
| 30 Jun - Regulation 31(4) disclosure states no new encumbrance on AVATAR Industries shares. | [Disclosure under SEBI Takeover Regulations 30 Jun - Regulation 31(4) disclosure states no new encumbrance on AVATAR Industries shares.](https://nsearchives.nseindia.com/corporate/team_sandeshc_12052026133550_17.pdf) |
| 30 Jul - AVATAR Industries հայտնում corporate governance report not applicable for FY 2026-27 under SEBI regulations. | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter 30 Jul - AVATAR Industries հայտնում corporate governance report not applicable for FY 2026-27 under SEBI regulations.](https://nsearchives.nseindia.com/corporate/ASLIND_30072026175707_cgrnonapplicabiltycertificate.pdf) |
| 30 Jul - AVATAR Industries incorporates WOS AVATAR AI MindLab for enterprise AI adoption, skilling and TaaS. | [Press Release 30 Jul - AVATAR Industries incorporates WOS AVATAR AI MindLab for enterprise AI adoption, skilling and TaaS.](https://nsearchives.nseindia.com/corporate/ASLIND_30072026120829_Pressrelease.pdf) |
| 3 Feb - Feb 03, 2026 investor call on Q3/Nine Months ended Dec 31, 2025; audio hosted on company website. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 3 Feb - Feb 03, 2026 investor call on Q3/Nine Months ended Dec 31, 2025; audio hosted on company website.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b65f0f2c-bedb-4edb-8713-8dea981be6ee.pdf) |
| 29 Jul - AVATAR Industries incorporated AVATAR AI MINDLAB PRIVATE LIMITED on 28 July 2026 for AI education and technology. | [General Updates 29 Jul - AVATAR Industries incorporated AVATAR AI MINDLAB PRIVATE LIMITED on 28 July 2026 for AI education and technology.](https://nsearchives.nseindia.com/corporate/ASLIND_29072026190422_Reg30intimation.pdf) |
| 28 May 2026 - Audited standalone and consolidated FY26 financial results published in newspapers on 28 May 2026. | [Copy of Newspaper Publication 28 May 2026 - Audited standalone and consolidated FY26 financial results published in newspapers on 28 May 2026.](https://nsearchives.nseindia.com/corporate/ASLIND_28052026174546_Newspaperadv.pdf) |
| 28 April 2026 - SDD compliance certificate filed for FY ended 31 March 2026; 19 required events captured. | [Structural Digital Database 28 April 2026 - SDD compliance certificate filed for FY ended 31 March 2026; 19 required events captured.](https://nsearchives.nseindia.com/corporate/ASLIND_28042026145326_SDDcompliance.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2023 | [Concall - Oct 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5b82bb95-29a2-46b5-8924-cb356549b7c4.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3a4ac05b-a800-4bd8-bba2-9b0e6d2e2aea.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f5e75bbe-0a06-480e-8546-1438b06d0bbc.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3495573b-c1f4-4c29-af86-3db588f0279f.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cfe30757-6b94-44ff-9912-6bad36a995d7.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/62cac3fc-cb91-4947-afbb-c685b876c9cc.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5b36239c-a926-4131-97b1-6b30a382a7ef.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d00fb745-67bb-4802-8d42-eea165617552.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9bfc5880-d1e4-40ca-b7d0-564a316faefc.pdf) |
| May 2020 | [Concall - May 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d849ea24-51f6-4868-98a0-af414ef3ed74.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28602_ASLIND_2024_2025_A_1612764_05092025172944.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25418_ASLIND_2023_2024_0209202415502.pdf) |
| from nse | [Financial Year 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23254_ASLIND_2022_2023_02092023122602_09022023130001.zip) |
| from nse | [Financial Year 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_20783_ASLIND_2021_2022_23082022120056_08232022130002.zip) |
| from nse | [Financial Year 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19058_ASLIND_2020_2021_31082021122813_08312021130005.zip) |
| from nse | [Financial Year 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17702_ASLIND_2019_2020_19092020001654_19092020070002.zip) |
| from nse | [Financial Year 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_15975_ASLIND_2018_2019_09092019181634_09092019190004.zip) |
| from nse | [Financial Year 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_12974_ASLIND_2017_2018_10082018165518.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a917c44d-0c4b-443e-ad68-c4eb5a3936a0.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3f9b9e31-7f78-4c7c-bcf7-bda68b877bfc.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:46:45.023Z.