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Automotive Axles Ltd.

BSE: 505010 Sector: Auto
NSE: AUTOAXLES ISIN Code: INE449A01011
BSE LIVE 09:45 | 17 Oct 889.50 -2.25
(-0.25%)
OPEN

902.80

HIGH

902.80

LOW

889.50

NSE 09:30 | 17 Oct 891.00 -4.45
(-0.50%)
OPEN

890.05

HIGH

900.80

LOW

889.35

OPEN 902.80
PREVIOUS CLOSE 891.75
VOLUME 91
52-Week high 961.70
52-Week low 582.00
P/E 26.66
Mkt Cap.(Rs cr) 1,344
Buy Price 888.25
Buy Qty 12.00
Sell Price 889.50
Sell Qty 31.00
OPEN 902.80
CLOSE 891.75
VOLUME 91
52-Week high 961.70
52-Week low 582.00
P/E 26.66
Mkt Cap.(Rs cr) 1,344
Buy Price 888.25
Buy Qty 12.00
Sell Price 889.50
Sell Qty 31.00

Automotive Axles Ltd. (AUTOAXLES) - Company History

Promoted as a joint venture by the Kalyani group and Rockwell International Corporation, US, (35.52% stake) in 1981, Automotive Axles manufactures all types of complete axles and axle assemblies including components and corresponding brake sets. It also manufactures automotive gears and air- and hydraulic-activated brake assemblies. The company's Rs 30.3-cr project at Hootagali near Mysore, commenced commercial production in Jul.'84. The company entered the capital market with a public issue. It came out of the purview of the Sick Industrial Companies Act, 1985. But, the very next year, its networth started to erode. So, in 1994-95, it embarked on a restructuring of the capital in consultation with financial institutions. The company came out with a rights issue in Feb.'95 to part-finance an expansion project to increase the manufacturing capacity of axles and brakes. During 1996-97, the expansion of Axles capacity has been completed and of brakes was put on hold in view of down turn in the market. The company managed to achieve an impressive 20% growth in sales during the year 1999-2000. As the company is continuing to pursue its efforts on increasing penetration into other domestic and export market opportunities, Meritor HVS (India) Ltd has tied-up technical licensing arrangement for new products for Ashok Leyland and Volvo India Ltd., and already export business worth US $ 4 Million has been achieved.