You are here » Home » Companies » Company Overview » Automotive Axles Ltd

Automotive Axles Ltd.

BSE: 505010 Sector: Auto
NSE: AUTOAXLES ISIN Code: INE449A01011
BSE LIVE 15:40 | 26 Apr 707.90 -7.50
(-1.05%)
OPEN

727.60

HIGH

727.60

LOW

705.05

NSE 15:31 | 26 Apr 706.05 -11.35
(-1.58%)
OPEN

726.90

HIGH

726.95

LOW

702.20

OPEN 727.60
PREVIOUS CLOSE 715.40
VOLUME 3870
52-Week high 799.90
52-Week low 582.00
P/E 25.36
Mkt Cap.(Rs cr) 1069.64
Buy Price 707.90
Buy Qty 283.00
Sell Price 0.00
Sell Qty 0.00
OPEN 727.60
CLOSE 715.40
VOLUME 3870
52-Week high 799.90
52-Week low 582.00
P/E 25.36
Mkt Cap.(Rs cr) 1069.64
Buy Price 707.90
Buy Qty 283.00
Sell Price 0.00
Sell Qty 0.00

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.