(i) 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 the 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.
(ii) 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.
(iii) 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, the 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.
(iv) 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.
|Total Available Shares:||100|
|Face Value:||₹ 10 Per Equity Share|
|Lot Size:||50 Shares|
|Current Unlisted Share Price:||₹ Best in Industry Per Equity Share|
|Shareholders’ Name||No. of Shares||% of total Shares of the company||%of Shares Pledged|
|Sundaram Finance Holdings Ltd||9891754||38.82||NIL|
|Wheels India Ltd||2424661||9.51||NIL|
|Dana Global Products Inc||12316415||48.33||NIL|
|Free Cash Flow||62.08||17.91||2.33||17.39|
|Dividend (Rs. per Share)||1.5||4||3||1|