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Automotive Axles Limited (AUTOAXLES)

₹1,631.80 +1.32% last close, 16 Oct

📊 NSE: AUTOAXLES 🏢 Auto Ancillaries 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Automotive Axles' revenue was ₹517 Cr (+5.7% year on year, -22.2% on the previous quarter), and net profit ₹45.6 Cr (+26.7% year on year); the operating margin was 11.6%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹517	+5.7%	-22.2%
Operating profit	₹59.9	+24.8%	-22.2%
Net profit	₹45.6	+26.7%	-15.6%
EPS (₹)	30.17	+27.6%	-15.4%
Operating margin	11.6%	—	—

Full quarterly financials → Results calendar →

AUTOAXLES delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 55.97% of the AUTOAXLES shares traded on NSE were taken to delivery, against the stock's own 20-session average of 67.77%. That is lower than usual for this stock. Turnover was only ₹39 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.

55.97%Delivery, 16 Oct

67.77%Own 20-session average

0.4×Volume vs its average

₹1,631.80NSE close · +1.32%

Delivery in the last 5 sessions: 60.9% · 76.5% · 80.1% · 60.9% · 56.0%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Automotive Axles Submits Demat Compliance Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 05:51 PM

Automotive Axles Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The Registrar and Share Transfer Agent, Integrated Registry Management Services Private Limited, confirmed that securities received for dematerialization were processed, mutilated, and cancelled within 15 days. This is a recurring administrative filing and carries no operational or financial impact.

Compliance certificate filed under Regulation 74(5) for the quarter ended September 30, 2026
Securities received for dematerialization were processed and registered within 15 days
Confirmation received from Registrar and Share Transfer Agent dated October 6, 2026

💡 Track the upcoming Q2 FY27 financial results announcement for updates on operational performance and revenue trends.

Automotive Axles Dispatches Final Dividend of ₹32 Per Share for FY25-26

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 11 Sep 2026, 07:52 PM

Automotive Axles Limited has confirmed the dispatch and credit of its final dividend of ₹32 per equity share (face value ₹10) for FY 2025-26. The dividend was approved by shareholders at the 45th Annual General Meeting held on 12th August 2026. Payments were credited to eligible shareholders holding shares as on the record date of 5th August 2026, with bank credits initiated on 25th August 2026. The announcement also provides tax deduction at source (TDS) communication sent to shareholders.

Final dividend of ₹32 per equity share of face value ₹10 approved at the 45th AGM
Record date for dividend entitlement was 5th August 2026
Shareholder approval granted at the AGM on 12th August 2026
Date of credit to bank accounts recorded as 25th August 2026 with TDS details emailed on 11th September 2026

💡 Eligible shareholders should verify the credit of net dividend in their bank accounts and inspect Form 26AS for corresponding TDS credits.

Automotive Axles Assigned 'Crisil ESG 66' Rating Under Strong Category

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Aug 2026, 06:37 PM

Crisil ESG Ratings & Analytics Limited has voluntarily reviewed and assigned an Environmental, Social, and Governance (ESG) rating of 'Crisil ESG 66' to Automotive Axles Limited. The assigned rating places the company under the 'Strong' category as of August 13, 2026. This voluntary evaluation serves as an ESG benchmark and has no direct impact on the company's financial debt ratings, revenue, or balance sheet.

Crisil ESG Ratings assigned a score of 'Crisil ESG 66'
Assigned under the 'Strong' category classification
Rating review dated August 13, 2026

💡 Track core operational metrics and upcoming quarterly earnings; voluntary ESG ratings do not alter underlying business fundamentals or debt service capabilities.

Rs 32 Dividend Approved: Automotive Axles Shareholders Pass All AGM Resolutions

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Aug 2026, 02:41 PM

Automotive Axles Limited has concluded its 45th Annual General Meeting (AGM) with shareholders approving all proposed resolutions with over 99.6% majority. Key approvals include the adoption of FY26 financial statements and the declaration of a final dividend of Rs 32 per equity share (320% of face value). The re-appointment of Mr. Kenneth James Hogan as a Director was also confirmed. The voting process saw participation from 23,964 shareholders as of the record date of August 5, 2026.

Final dividend of Rs 32 per equity share approved for the financial year 2025-26
Adoption of FY26 Audited Standalone Financial Statements passed with 99.99% votes in favour
Re-appointment of Director Kenneth James Hogan approved with 99.62% majority
Total of 1,30,22,851 valid votes polled for the dividend resolution
A total of 114 shareholders attended the meeting via video conferencing

💡 Investors should monitor the dividend payment timeline, typically completed within 30 days of the AGM approval. No further structural changes were announced during this routine procedural filing.

₹32 per share dividend approved at Automotive Axles 45th AGM; FY26 financials adopted

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Aug 2026, 08:30 PM

Automotive Axles Limited concluded its 45th Annual General Meeting on August 12, 2026, where shareholders approved a final dividend of ₹32 per equity share for FY26. The company reported TTM revenue of ₹2,177 Cr and a net profit of ₹165 Cr, maintaining a stable operating margin of 10.9%. Key resolutions included the adoption of FY26 audited financial statements and the re-appointment of Mr. Kenneth James Hogan as a director. Management highlighted ongoing efforts to diversify into Defence and Off-highway segments to mitigate the cyclicality of the M&HCV industry.

Final dividend of ₹32 per equity share (320% of face value) approved for FY26
TTM revenue stands at ₹2,177 Cr with a net profit of ₹165 Cr for FY26
Remote e-voting was conducted over 3 days from August 9 to August 11, 2026
A total of 114 members attended the meeting via video conferencing
Ashok Leyland continues to account for 50-60% of total historical revenues

💡 Investors should monitor the dividend credit timeline and track the company's progress in diversifying its client base to reduce the 50-60% revenue concentration from Ashok Leyland.

13.6% EBITDA Margin: Auto Axles Reports Record Q1 FY27 Profitability and Improved Market Outlook

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 10 Aug 2026, 11:14 PM

Automotive Axles reported a strong Q1 FY27 with revenue of ₹516.8 cr and a record EBITDA margin of 13.6%, significantly higher than the 9.7% reported in the same period last year. The company achieved a PAT of ₹45.5 cr and an EPS of ₹30, marking its highest Q1 EPS in four years. Management has notably improved its industry outlook, revising the expected M&HCV market degrowth to 5-10% from an earlier forecast of 15-20%. Execution of Phase-1 and Phase-1(a) CAPEX is progressing well, with 40% of the investment already completed.

Achieved record EBITDA margin of 13.6% in Q1 FY27, up from 9.7% YoY, driven by product mix and operational efficiencies.
Reported Q1 FY27 revenue of ₹516.8 cr and PAT of ₹45.5 cr, with an EPS of ₹30.
Revised industry degrowth forecast to 5-10% for FY27, a significant improvement from the initial 15-20% estimate.
Completed 40% of Phase-1 and Phase-1(a) CAPEX investments to enhance capacity and automation.
Raw material costs stood at 65% of revenue, benefiting from a favorable product mix and minor one-off gains.

💡 Investors should monitor the sustainability of the 13.6% EBITDA margin in upcoming quarters as one-off benefits moderate. Key triggers include the festive season demand recovery in the M&HCV segment and the completion timeline for the remaining 60% of the planned CAPEX.

KSPCB Notice for Water Act Non-Compliance at Mysuru Plant; Corrective Action Taken

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 09 Aug 2026, 10:54 PM

Automotive Axles Limited received a notice from the Karnataka State Pollution Control Board (KSPCB) on August 4, 2026, regarding non-compliance with the Water Act at its Mysuru plant. The notice cited that Sewage Treatment Plant (STP) water parameters exceeded prescribed standards. The company submitted a response on August 7, 2026, detailing corrective measures and providing a new analysis report showing parameters are now within limits. The company stated there is no quantifiable financial impact and has addressed internal communication delays regarding this disclosure.

Notice received from KSPCB on August 4, 2026, regarding STP water parameters at the Mysuru plant.
Corrective measures and response submitted to the authority on August 7, 2026.
Latest STP Treated Water Analysis confirms all parameters are now within prescribed limits.
Company reported zero quantifiable financial or operational impact from this notice.
Internal communication mechanisms strengthened to prevent future delays in regulatory reporting.

💡 Investors should monitor for any follow-up confirmation from KSPCB that the matter is officially closed, though the immediate operational risk appears mitigated.

AUTOAXLES Releases 1QFY27 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Aug 2026, 06:38 PM

Automotive Axles Limited has released the audio recording of its analyst and institutional investor conference call held on August 6, 2026. The call focused on the company's 1QFY27 financial performance. Investors should evaluate management's commentary against the company's TTM revenue of ₹2,177 Cr and its high client concentration, where Ashok Leyland accounts for 50-60% of historical revenues. The company continues to focus on diversifying into Defence and Off-highway segments to mitigate the cyclicality of the M&HCV industry.

Conference call held on August 6, 2026, at 09:00 AM IST to discuss 1QFY27 results
Company maintains a TTM revenue of ₹2,177 Cr with an operating profit margin of 10.9%
Ashok Leyland remains the primary client, contributing 50-60% of historical revenue
Related party MHVSIL accounted for 78.5% of sales in FY24, representing a significant structural dependency
Debt remains low at ₹14 Cr against a net worth of ₹1,099 Cr as of the latest reporting

💡 Investors should access the audio recording on the company's website to understand management's outlook on M&HCV volume trends and the progress of diversification into the Defence sector.

27.6% YoY PAT Growth in Q1 FY27; Revenue at Rs 516.8 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 05 Aug 2026, 07:05 PM

Automotive Axles reported a strong year-on-year performance for Q1 FY27, with Net Profit surging 27.6% to Rs 45.60 Cr compared to Rs 35.72 Cr in Q1 FY26. Revenue from operations grew 5.6% YoY to Rs 516.82 Cr, although it saw a sequential (QoQ) decline of 22.2% from the March 2026 quarter, likely due to seasonality in the M&HCV segment. Profit margins improved as total expenses rose only 3.4% YoY, significantly lower than the profit growth rate. The company maintained a debt-free status with finance costs remaining negligible at Rs 0.42 Cr for the quarter.

Net Profit increased by 27.6% YoY to Rs 45.60 Cr from Rs 35.72 Cr.
Revenue from operations grew 5.6% YoY to Rs 516.82 Cr.
Earnings Per Share (EPS) rose to Rs 30.17 from Rs 23.64 in the year-ago period.
Total expenses were contained at Rs 465.89 Cr, up only 3.4% YoY despite raw material cost pressures.
Quarterly revenue represents approximately 23.7% of the TTM revenue of Rs 2,177 Cr.

💡 Investors should monitor the recovery in sequential volumes in the upcoming quarters and track the company's progress in diversifying into the Defence and Off-highway segments to reduce its 50-60% revenue reliance on Ashok Leyland.

Automotive Axles to Host 1QFY27 Earnings Conference Call on August 6, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Aug 2026, 11:08 PM

Automotive Axles Limited has scheduled its 1QFY27 earnings conference call for August 6, 2026, at 9:00 AM IST. The management team, including the President and Interim CFO, will discuss the financial performance for the quarter. This follows a TTM revenue of ₹2,177 Cr and a PAT of ₹165 Cr. Investors will be looking for updates on the company's diversification into the Defence sector and the status of the ₹2,500 Cr related party transaction with MHVSIL.

Conference call scheduled for August 6, 2026, at 09:00 AM IST to discuss 1QFY27 results
Management participants include President Nagaraja Gargeshwari and Interim CFO Raman K
Company reported TTM revenue of ₹2,177 Cr with an operating margin of 10.9%
The call will be hosted by 360 ONE Capital Market Research
Focus remains on the company's strategy to reduce M&HCV cyclicality through Defence and Off-highway segments

💡 Monitor the post-earnings call for management commentary on M&HCV volume outlook and any updates regarding the structural risk of the rejected ₹2,500 Cr related party transaction.

Rs 32 Dividend: Automotive Axles Sets Record Date and 45th AGM for August 2026

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 22 Jul 2026, 10:54 PM

Automotive Axles Limited has scheduled its 45th Annual General Meeting (AGM) for August 12, 2026. The company confirmed a final dividend of Rs 32 per share (320%) for FY 2025-26, with the record date set for August 5, 2026. Based on the current market price of Rs 1834.7, this represents a dividend yield of approximately 1.74%. Additionally, the company is facilitating a special window for the dematerialization of physical shares until February 4, 2027.

Final dividend of Rs 32 per share (320%) declared for the financial year 2025-26
Record date for dividend eligibility and e-voting cut-off is Wednesday, August 5, 2026
45th Annual General Meeting scheduled for Wednesday, August 12, 2026, at 3:00 PM IST
Dividend payout expected to be completed on or before September 10, 2026
Special window for transfer and dematerialization of physical securities open until February 4, 2027

💡 Investors seeking the dividend must hold shares by the August 5 record date. Shareholders with physical certificates should utilize the special window ending February 2027 to dematerialize their holdings.

₹32 Final Dividend Proposed; 45th AGM Scheduled for August 12, 2026

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 18 Jul 2026, 04:24 PM

Automotive Axles Limited has scheduled its 45th Annual General Meeting (AGM) for August 12, 2026, to approve a final dividend of ₹32 per share (320% of face value). This dividend represents a payout of approximately 29% of the TTM EPS of ₹108.77 and offers a yield of ~1.76% at current prices. The company has set August 5, 2026, as the cut-off date for determining shareholder eligibility for voting and dividend payments. The meeting will also address the re-appointment of Mr. Kenneth James Hogan, a director with 30 years of experience in the automotive sector.

Proposed final dividend of ₹32 per equity share for the financial year 2025-26
45th AGM to be held on August 12, 2026, via Video Conferencing at 3:00 PM
Cut-off date for dividend and e-voting eligibility is set for August 5, 2026
Re-appointment of Mr. Kenneth James Hogan, who attended 4 out of 6 board meetings in FY26
Dividend payout represents a 320% return on the face value of ₹10 per share

💡 Monitor the ex-dividend date (typically around the August 5 cut-off) and the AGM for management commentary on the strategy to reduce M&HCV cyclicality.

Automotive Axles Submits Quarterly Dematerialization Certificate for June 2026

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 08 Jul 2026, 04:29 PM

Automotive Axles Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that all share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and confirmed to the depositories. The company verified that physical certificates were mutilated and cancelled, with the depository's name substituted in the Register of Members within the mandated 15-day period. This is a routine administrative filing with no impact on business operations or financials.

Compliance certificate issued for the quarter ended June 30, 2026
Dematerialization requests processed and confirmed within 15 days
Registrar and Share Transfer Agent (RTA) confirmed as Integrated Registry Management Services Private Limited
Physical certificates mutilated and cancelled after due verification

💡 This is a routine regulatory filing. Investors should monitor the upcoming quarterly earnings report for material updates on operational performance.

Automotive Axles to Close Trading Window from July 1, 2026, for Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jun 2026, 06:10 PM

Automotive Axles Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the announcement of the un-audited financial results for the quarter ending June 30, 2026. The restriction applies to all designated persons, including directors and key managerial personnel. The window will remain closed until 48 hours after the financial results are officially declared to the stock exchanges.

Trading window closure commences on July 1, 2026.
Closure is related to the un-audited financial results for the quarter ending June 30, 2026.
Restriction applies to Directors, KMPs, and other connected persons as per SEBI regulations.
The window will reopen 48 hours after the results are announced.

💡 This is a routine regulatory announcement and does not impact the company's fundamentals. Investors should monitor for the upcoming board meeting date when the actual financial results will be released.

Automotive Axles Sets Aug 5, 2026, as Record Date for Final Dividend and 45th AGM

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 24 Jun 2026, 08:32 PM

Automotive Axles Limited has scheduled its 45th Annual General Meeting (AGM) for August 12, 2026, through video conferencing. The company has fixed August 5, 2026, as the record date to determine shareholder eligibility for the final dividend for the financial year ended March 31, 2026. Shareholders are required to update their KYC and email details with Depository Participants or the Registrar to receive the Annual Report and dividend payments. This communication also serves as an intimation regarding Tax Deduction at Source (TDS) on the upcoming dividend payout.

45th Annual General Meeting scheduled for Wednesday, August 12, 2026, at 3:00 PM IST.
Record date for final dividend and e-voting eligibility fixed as Wednesday, August 5, 2026.
Annual Report for FY 2025-26 will be distributed exclusively via electronic mode to registered email IDs.
Shareholders must update KYC and bank details to ensure correct TDS application on dividends.

💡 Investors seeking the final dividend should ensure they hold the stock before the August 5 record date and verify that their tax residency status is updated to avoid excess TDS.

View All AUTOAXLES Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total income for FY25 was INR 2,104.75 Cr, a decline of 6.2% from FY24's INR 2,244.88 Cr. Product revenue specifically fell by 4% in H1 FY25 due to subdued demand in the domestic commercial vehicle industry.

Geographic Revenue Split

Not explicitly disclosed by percentage, but exports revenue saw a 'mix benefit' in Q2 FY26, contributing to an overall 3.4% margin improvement alongside foreign exchange benefits.

Profitability Margins

Operating Profit Margin (OPM) was 11.9% in FY25 compared to 11.8% in FY24. Net Profit Margin (NPM) improved from 7.0% in FY24 to 7.5% in FY25. However, H1 FY25 OPM declined to 10.1% due to industry headwinds like erratic rainfall and heatwaves.

EBITDA Margin

EBITDA margin for Q2 FY26 reached 12.4%, up from 11.7% in Q1 FY26. This was driven by a 3.4% benefit from product mix and foreign exchange, and a 0.4% benefit from one-time liability write-offs.

Capital Expenditure

Planned capital expenditure of INR 200-300 Cr in the medium term, focused on modernizing and automating manufacturing facilities, specifically gear and housing lines.

Credit Rating & Borrowing

Maintains a strong liquidity profile with a 'Stable' outlook from ICRA. The company has no outstanding term loans as of September 30, 2024, and a debt-to-equity ratio of 0.02%.

⚙️ Operational Drivers

Raw Materials

Steel is the primary raw material, representing a significant but unspecified percentage of total costs; margins are susceptible to steel price volatility.

Capacity Expansion

Modernization of gear and housing manufacturing lines is underway to enhance productivity. TPM (Total Productive Maintenance) activities are being implemented at the JSR (Jamshedpur) and PNR (Pantnagar) plants.

Raw Material Costs

Raw material prices were stable in FY24, supporting an 11% OPM. Cost increases in steel are generally passed on to customers with a lag.

Manufacturing Efficiency

Modernization of gear and housing lines is expected to optimize costs and meet peak market demands. Capacity utilization is impacted by a 6% volume drop in Q2 FY26 vs Q1 FY26.

📈 Strategic Growth

Growth Strategy

Strategy involves diversifying into the Defence sector and Off-highway segment to reduce M&HCV cyclicality. The company is also implementing a structure change to sell directly to customers, which has already yielded a 300-400 bps gross margin expansion.

Products & Services

Rear drive axles, brakes, suspension systems, and gear and housing components for medium and heavy commercial vehicles.

Brand Portfolio

Automotive Axles Limited (AAL), Meritor (technology partner).

New Products/Services

Foray into the Defence sector and expansion in the Off-highway segment are expected to provide medium-to-long term revenue diversification.

Market Expansion

Targeting increased wallet share with OEMs like M&M, TML (Tata Motors), and VECV to reduce reliance on Ashok Leyland.

Market Share & Ranking

Largest independent axle manufacturer in India.

Strategic Alliances

Joint Venture between Meritor Inc. and Bharat Forge Limited (MHVSIL) serves as a key channel partner, though the relationship is undergoing structural changes.

🌍 External Factors

Industry Trends

The Indian auto component sector is entering a transformative phase with a focus on EV capacity building. Industry-wide EV capex is projected at INR 25,000-30,000 Cr for FY26.

Competitive Landscape

Caters to all major domestic M&HCV OEMs, maintaining a healthy wallet share despite industry-wide subdued demand.

Competitive Moat

Durable advantages include its position as the largest independent manufacturer, long-term OEM associations, and technology support from parent Meritor Inc.

Macro Economic Sensitivity

Highly sensitive to M&HCV industry cycles, which were impacted by General Elections and extreme weather in H1 FY25.

Consumer Behavior

Shift toward electric vehicles is driving a need for innovation in localized EV components.

Geopolitical Risks

High freight costs and geopolitical uncertainties are noted as temporary headwinds for export volumes.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to automotive safety standards and evolving EV indigenization norms (currently 30-40% localized).

Environmental Compliance

Implementing ISO 14001:2015 (EMS) and OHSAS: ISO 45001:2018 standards.

Taxation Policy Impact

Voluntarily publishes an annual 'Tax Transparency Report' to cater to stakeholder needs.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the resolution of the sales route following the shareholder rejection of the INR 2,500 Cr related party transaction with MHVSIL for FY26.