Axles India Limited was jointly established with Eaton in 1982. In 1998, Dana Holding Corporation acquired Eaton Axles Business, and Axles India Limited shares were part of the transaction. Axles India Limited is a joint venture between Wheels India, Sundaram Finance and Dana Holding Corporation of the United States of America. Axles India Limited can provide Axle Housings for a full range of medium and heavy commercial vehicles. The Company have two factories, one at Sriperumbudur, Tamil Nadu and another at Cheyyar Taluk, Tiruvannamalai District, Tamil Nadu.
Axles India Limited started production at its Shriperumbudur plant, producing 10,000 axles for Ashok Leyland each year. In order to meet the growing needs of local OEMs, a new Axle housing was opened in Cheyyar in 1995. The company set up a new facility to manufacture Drive Head assembles in 2003. The Export Oriented Department (EOU) was established in 2006 to serve the export market. In 2011, the Drive head business was sold to Dana India Private Limited.
Axles India Limited is specialized in manufacturing Rear Axle Housings, Tag Axle Housings, Drive Axle Housings, Trailer Axle Beams, Hub Reduction Axle Housings for medium and heavy duty commercial vehicles.
Today, Axles India Limited supplies its products to Tata Motors, Ashok Leyland, Dana India Private Limited, VE Commercial Vehicles, SML Isuzu, Mahindra trucks and buses, and Daimler India commercial vehicles. Axles India also exports to Dana in the U.S. and Volvo Trucks in Asia.
CIN of Axles India |
U27209TN1981PLC008630 |
Registration Date of Axles India |
18 February 1981 |
Category / Sub-Category of Axles India |
Public Limited Company |
Axles India Registered office address and contact details |
Registered office: 21, Patullos Road, Chennai 600002, Office : Singaperumal Koil Road, Sriperumbudur 602 105, Tamil Nadu. Phone: 8939368687 |
Axles India Registrar and Transfer Agent address and contact details |
Cameo Corporate Services Limited,“Subramanian Building”, No. 1, Club House Road, Chennai - 600 002, Phone : 044 - 28460390 |
Axles India Limited has no Subsidiary or Associate Company
S Ram (Chairman)
V Madhavan (Managing Director)
Srivats Ram
Rafael Aquique
Saket Sapra
Radha Unni
Jason Miller
Gajanan Gandhe
|
Name and Description of main products/services |
NIC Code of the product/service* |
% to total turnover of the Company |
|
Manufacture of Axles |
29301 |
94% |
|
S. No. |
Shareholder’s Name |
No. of Shares |
% of total Shares of the company |
|
1 |
Sundaram Finance Holdings Limited |
98,91,754 |
38.82% |
|
2 |
Wheels India Ltd |
24,24,661 |
9.51% |
|
3 |
Dana Global Products Incorporation |
1,23,16,415 |
48.33% |
|
4 |
Others |
8,51,580 |
3.34% |
|
|
Total |
2,54,84,410 |
100% |
Over the period between FY 2016 to FY 2020, the automotive components industry registered a CAGR of 6%, with exports growing at a CAGR of 7.6% during FY2016-20 to reach US$ 14.5 billion in FY20. The auto components industry accounted for 2.3% of India’s Gross Domestic Product (GDP).
The Automotive Mission Plan (AMP 2026) has set a target to reach a turnover of US$ 223 billion by 2026 for the auto component sector backed with strong exports. Indian auto components industry can achieve this target if the Government maintains the favorable environment and corporate continue to invest in the industry. Original Equipment (OEM) sales generate around 54% of the industry’s revenue, while the remaining revenue is generated by replacement and exports. Indian automotive industry is highly dependent on US and European markets as they together account for 60% of overall auto component exports from India.
As per Automobile Component Manufacturers Association (ACMA), automobile component export from India is expected to reach US$ 80 billion by 2026. The Indian auto component industry aims to achieve US$ 200 billion in revenue by 2026. Turnover of automotive component industry stood atUS$49.3 billion in FY 2020 and export of auto components grew 2.7% to US$ 14.5 billion during the same time. Indian automotive industry (including component manufacturing) is expected to reach between US$ 251.4-282.8 billion by 2026.
Production of two wheelers, passenger vehicles, commercial vehicles and three wheelers reached 21.03 million, 3.43 million, 0.75 million, and 1.13 million, respectively, in FY 2020.Moreover, 26.36 million vehicles being manufactured in the country in FY 2020. The Government of India expects automobile sector to attract US$ 8-10 billion in local and foreign investment by 2023.
The Indian auto-components industry is set to become the third largest in the world by 2025.
