|COMPANY NAME||AXLES India Limited|
|NATURE OF BUSINESS||Production of Axle Housings for Medium & Heavy Vehicles.|
|ISIN NO||INE 701C01011|
|PROMOTERS||Wheels India, Sundaram Finance & Dana Holding Corporation,|
Overview of FY21
The domestic Housing Sales was lower by 24% in FY’21 compared to FY’20 due to Vehicle Production disruption consequent to COVID related issues in first half of the year.
Excess capacity of MD / HD trucks created from upward enhancement of Axle load norms by 15%. Bus segment was affected from restrictions on people movement and seating restrictions. Heavy Duty Commercial Vehicle that showed some improvements were in construction related Dump Trucks and Trucks Trailer bulk carriers for petroleum products, cement, steel etc., in routes where they have an advantage over railways.
Company’s sale of Housings to domestic market was 105,000 in 2020-21 from 137,500 in 2019-20. The export sales to Dana USA were 47,000 compared to 74,500 and export to Thailand and Japan was 3300 during 2020-21 and 3060 in 2019-20.
Company Overview: –
Axles India is a joint venture of Wheels India, Sundaram Finance and Dana Holding Corporation, USA. Axles India has the capability to provide Axle Housings for entire range of Medium and Heavy Commercial Vehicles. The production of pressed Axle Housings is at an annual level of 280,000 pressed Axle housings, manufactured in plants at Sriperumbudur and Cheyyar.
Axles India was started in 1982, as a joint venture with Eaton. In 1998, Dana Holding Corporation purchased Eaton Axles Business and Axles India’s shares were part of this arrangement.
Axles India commenced production at its Sriperumbudur plant, with an annual volume of 10,000 axle housings to Ashok Leyland. In 1995, to meet the increased demand of domestic OEMs, an additional facility for Axle Housings was set up at Cheyyar. In 2003, facility to manufacture Drive Head assemblies was installed. In 2006, Export oriented unit (EOU) was established for catering to export markets. In 2011, Drive head business was sold to Dana India Private Limited.
Axles India supplies to Tata Motors, Ashok Leyland, VE Commerical Vehicles, Dana India Private Limited, SML Isuzu, Mahindra Trucks and Buses and Daimler India Commercial Vehicles. Axles India also exports to Dana, USA and Volvo Trucks Asia.