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Automotive Axles Ltd.

BSE: 505010 Sector: Auto
NSE: AUTOAXLES ISIN Code: INE449A01011
BSE 00:00 | 03 Oct 1919.55 -26.40
(-1.36%)
OPEN

1933.65

HIGH

1939.10

LOW

1903.65

NSE 00:00 | 03 Oct 1923.15 -24.90
(-1.28%)
OPEN

1920.00

HIGH

1940.00

LOW

1904.40

OPEN 1933.65
PREVIOUS CLOSE 1945.95
VOLUME 1034
52-Week high 2301.00
52-Week low 1218.75
P/E 29.24
Mkt Cap.(Rs cr) 2,900
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1933.65
CLOSE 1945.95
VOLUME 1034
52-Week high 2301.00
52-Week low 1218.75
P/E 29.24
Mkt Cap.(Rs cr) 2,900
Buy Price 0.00
Buy Qty 0.00
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.

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