GKN Driveline Delisted Share Price

GKN Driveline India Limited Delisted Share - Company Overview

GKN DRIVELINE (INDIA) LIMITED was incorporated in 1985 and is engaged in the manufacturing and sales of driveshafts to original equipment manufacturers in the automobile industry. The company has five manufacturing locations in India Faridabad, Dharuhera, Oragadam, Pune, and Kadi.GKN Driveline (India) Limited is a subsidiary of GKN Driveline International GmbH, the world’s largest supplier of driveline technologies to the automotive industry. Around 50% of the new cars globally use GKN automotive systems and solutions. GKN group has 54 manufacturing facilities and 6 technology centers across 20 countries. The GKN group was acquired by Melrose Industries in 2018. GKN Driveline (India) Limited maintains interaction with GKN Group internationally.GKN Driveline (India) Limited continuously imports technology from GKN Group, under the Technical CollaborationAgreementCompany is receiving support and guidance from GKN Group to improve functional excellence in marketing, application engineering, human resource, supply management, and information technology, among others, which helps Company to remain competitive and further step-up its overall business performance. Since its commencement, the name of the company has been changed more than once and the latest change was from GKNDriveshafts (India) Limited to GKN Driveline(India) Limited in 2003. The company is planning on cost rationalization through headcount optimization, fixed cost rationalization, re-negotiation with suppliers, reduction/deferment of Capex, implementation of solar power projects, and product localization by expanding the manufacturing facility at its Pune and Kadi plant. 

GKN Driveline India Share Price, Delisted Share Details as of March 31,2024                                                           

GKN Driveline India Limited Incorporation Details 

Principal Business Activities of GKN Driveline India Limited

Board of Directors of GKN Driveline India Limited

Mr. Anthony Bell (Additional Director & Chairman)

Mr. Sanjay Katyal(Managing Director)

Mr. Madan Singh Sisodia (Executive Director)

Mr. Rajeev Dogra (Executive Director)

Mr. Jonathon Colin Fyfe Crawford (Non-Executive Director)

Mr. Matthew Richard Nozemack(Non-Executive Director)

Ms. Monica Widhani(Additional Independent Director)

Mr. Subramaniam Ramaswamy (Additional Independent Director)

Particulars of Subsidiary and Associate Companies of GKN Driveline India Limited

GKN Driveline India Limited does not have any subsidiary or associate company.

Shareholding Pattern of GKN Driveline India Limited (As of 31-03-2024)

Industry Outlook

India is the 4th largest auto market in the world. India is expected to replace Japan as the third-largest auto market by 2021. In India, the two-wheeler segment dominates the automobile market in terms of volume. Apart from this, India is the largest Tractor manufacturer, 2nd largest bus manufacturer, and 3rd largest heavy truck manufacturer in the world. India is also a big exporter of automobiles and automotive products and has very strong growth expectations in the future. In FY 2020, India manufactured 2.63 Crore vehicles and sold 2.15 Crore vehicles. Automobile production at the domestic level increased at a CAGR of 2.36% from FY 2016 to FY 2020 and sales increased at a CAGR of 1.29% for the same period. The Electrical Vehicle market of India is projected to grow at a CAGR of 44% between 2020-2027 and is expected to touch annual sales of 63.4 lakh units by 2027. Indian automotive industry (including component manufacturing) is expected to reach Rs. 16-18trillion by 2026. FY 2021 was one of the toughest years in the history of the Indian automotive industry due to the outbreak of the COVID-19 pandemic. The Automobile industry was already facing headwinds due to the slowing economy being stopped completely due to the nationwide lockdown in 2020. The Indian automotive industry in FY 2021 registered a decline of 13.6%. However, the last 2 quarters have been relatively better than the first 2 quarters of FY 2021. The 4th Quarter of FY 2021 registered an increase of 25.89% in total sales of automobiles when compared to the 3rd quarter of FY 2021. The Passenger Vehicle segment saw a total decline of 2.24% in FY 2021. However, the Passenger Vehicle segment performance in the 4th quarter improved strongly with a year-on-year increase of 42.4%. For the Auto component, the scenario is the same as the automobiles. Sales of automotive components sharply fell in the first 2 quarters of FY 2021. Later in the 3rd and 4th quarters of FY 2021, the market started picking up sales. The Indian automotive industry is expected to book growth in FY 2022. However, it is projected that the passenger vehicle segment will reach the levels of FY 2019 only in FY 2023-24. ICRA, a rating agency, expects domestic auto component industry revenue to grow by 16-18% in FY 2020. The outlook for the auto component industry has changed from Negative to Stable backed by an increase in demand across Original Equipment manufacturers, replacements, and exports.