Automotive Axles Ltd - AUTOMOTIVE AXLES Share Price

Summary

Promoted as a joint venture by the Kalyani Group and Rockwell International Corporation, US, (35.52% stake) in 1981, Automotive Axles Limited (AAL) manufactures all types of complete axles and axle assemblies including components and corresponding brake sets. It manufactures automotive gears and air- and hydraulic-activated brake assemblies. The Company is the largest independent manufacturer of Rear Drive Axle Assemblies in the country. The Company is a joint venture company incorporated in 1981, between Bharat Forge Limited, Pune, India and Meritor Heavy Vehicle Systems LLC, USA. The Company is primarily engaged in manufacturing of Axles and Brakes at Mysore, Rudrapur and Jamshedpur. The Companys 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.The Company 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... Read More