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Automotive Axles Ltd (AUTOAXLES)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 505010 NSE: AUTOAXLES Auto Ancillary | Small Cap | Auto.Axle Share Price

₹1,716.70 -2.05 (-0.12%)

As on 04-Jun'26 16:59

Automotive Axles Ltd (AUTOAXLES)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 505010 NSE: AUTOAXLES Auto Ancillary | Small Cap | Auto.Axle Share Price

₹1,716.70 -2.05 (-0.12%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,594 Cr.
Current Price
₹1,716.7
52-Week Low / High
₹1,536 / 2,126
TTM EPS
₹108.8
TTM Sales
₹2,178 Cr.
Book Value per Share
₹727.1
P/E Ratio
15.78
Lower than its 5-year historical median
Industry PE
42.9
Price to Book (P/B)
2.36
Lower than its 5-year historical median
Price to Sales (P/S)
1.19
Lower than its 5-year historical median
EV/EBITDA
8.67
Lower than its 5-year historical median
Dividend Yield
1.90%
Profitability Efficiency
Return on Equity (ROE)
16.74%
Outperforms industry median
Return on Capital Employed (ROCE)
22.92%
Outperforms industry median
Return on Assets (ROA)
12.05%
Operating Profit Margin
10.6%
Net Profit Margin
7.49%
Gross Profit Margin
11.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-6.8%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-10.67%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.39%
Asset Quality
Promoter Holding
71.04%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,084 Cr.
Equity
₹15.1 Cr.
Face Value
₹10
All Time Low / High
₹14.00 / 2690.00

Automotive Axles stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is Automotive Axles Ltd a good quality company?
Automotive Axles Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Automotive Axles Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Automotive Axles Ltd vs industry peers?
Automotive Axles Ltd revenue CAGR is 16.89%, compared to the industry median CAGR of 11.89%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Automotive Axles Ltd?
Promoters hold 71.04% of the Automotive Axles Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Automotive Axles Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 11.4% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Automotive Axles Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 15.8%20.8%30.9%34.7%10.6%5.9%17%31.5%27.3%22.9%-
Value Creation
Index
0.10.51.21.5-0.2-0.60.21.31.00.6-

Growth Parameters

Sales 1,0861,1721,5191,9399529061,4912,3242,2292,0782,178
Sales YoY Gr.-8%29.6%27.6%-50.9%-4.9%64.6%55.9%-4.1%-6.8%-
Adj EPS 23.832.654.378.527.816.749.2107.2109.9102.9108.8
YoY Gr.-37.2%66.5%44.4%-64.6%-40.1%195.5%117.8%2.6%-6.4%-
BVPS (₹) 216.5249.2294356.3352366.6411502.5579.6649.8727.1
Adj Net
Profit
3649.382.11194225.274.3162166155164
Cash Flow from Ops. 56.997.151.210619848.743.351.6260128-
Debt/CF from Ops. 0.5000.70.10.40.30.200-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.5%16.9%11.7%-6.8%
Adj EPS 17.7%29.9%27.9%-6.4%
BVPS13%13%16.5%12.1%
Share Price 10.9% 5.1% -8.2% -5.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
11.4142024.17.94.612.723.520.316.715.8
Op. Profit
Mgn %
8.99.710.911.79.87.3911.111.110.610.9
Net Profit
Mgn %
3.34.25.46.14.42.8577.57.57.6
Debt to
Equity
0.1000.10000000
Working Cap
Days
11010610911319519015412014316993
Cash Conv.
Cycle
4740384178694946555564

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,0861,1721,5191,9399529061,4912,3242,2292,078
Operating Expenses + 9911,0591,3541,7138598401,3562,0661,9831,858
Manufacturing Costs11013016620410093136206201174
Material Costs7818261,0621,3456466291,0621,6691,5871,476
Employee Cost 8081991248989114127133139
Other Costs 20222740242843656269
Operating Profit 951131652269366135257246220
Operating Profit Margin (%) 8.8%9.7%10.9%11.7%9.8%7.3%9.0%11.1%11.0%10.6%
Other Income + 225387451627
Exceptional Items 0000-2-40000
Interest 6111232333
Depreciation 39394346373636413634
Profit Before Tax 52751261826030100218223211
Tax 1726446419726565755
Profit After Tax 354982119412374162166156
PAT Margin (%) 3.2%4.2%5.4%6.1%4.3%2.5%5.0%7.0%7.5%7.5%
Adjusted EPS (₹)23.032.754.578.627.215.049.2107.2110.0102.9
Dividend Payout Ratio (%)23.90%24.50%24.80%24.80%25%29.90%30.50%29.90%29.10%29.60%

Valuation of Auto.Axle - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 327377444538532554621759876982
Share Capital 15151515151515151515
Reserves 312361429523517539606744861967
Debt +2900661919151060
Long Term Debt00066191510620
Short Term Debt29000044440
Minority Interest0000000000
Trade Payables137169256258115290333316282302
Others Liabilities 65182856537669666371
Total Liabilities 5595647289187189401,0371,1521,2261,355

Fixed Assets

Net Fixed Assets +168146118109255245259245227200
Gross Block462185199236413435459478508514
Accumulated Depreciation2933981127157190200233281314
CWIP 971711524323667
Investments 00000121702177
Inventories11199137184156201199231250229
Trade Receivables198231335346123282389499364438
Cash Equivalents 0354440747381468339
Others Assets 724578123869489124274365
Total Assets 5595647289187189401,0371,1521,2261,355

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 579751106198494352260128
PBT 52751281856030100218223211
Adjustment 50454659384140513118
Changes in Working Capital -279-72-69114-13-74-16564-48
Tax Paid -18-31-51-70-15-9-23-53-58-52
Cash Flow From Investing Activity + -25-23-27-157-59-40-27-84-182-94
Capex -26-23-30-152-62-34-22-16-19-14
Net Investments 00000-12-10-76-170-93
Others 113-53768712
Cash Flow From Financing Activity + -35-40-1547-105-10-15-31-57-59
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -6-1-0-1-7-3-2-2-2-2
Dividend Paid -2-8-12-20-39-1-7-23-48-48
Others -28-31-269-60-6-6-6-6-8
Net Cash Flow -3359-434-12-6322-24

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)11.0514.0420.0524.167.694.1912.6623.4820.3216.74
ROCE (%)15.8420.7830.8734.6710.595.8816.9731.4527.3222.92
Asset Turnover Ratio2.192.322.42.351.161.091.512.121.871.61
PAT to CFO Conversion(x)1.631.980.620.894.832.130.580.321.570.82
Working Capital Days
Receivable Days56.5060.2066.5064.1089.9081.6082.2069.7070.7070.50
Inventory Days34.3029.4027.7030.3065.3071.904933.8039.4042.10
Payable Days57.7064.707369.80105.30117.50107.107168.8072.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Automotive Axles Ltd FAQs

The current trading price of Auto.Axle on 04-Jun-2026 16:59 is ₹1,716.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Auto.Axle stood at ₹2,594.3 Cr

The latest P/E ratio of Auto.Axle as of 03-Jun-2026 is 15.78.

The latest P/B ratio of Auto.Axle as of 03-Jun-2026 is 2.36.

The 52-week high of Auto.Axle is ₹2,126 and the 52-week low is ₹1,536.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Auto.Axle is ₹2,178 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Automotive Axles Ltd is a good quality company.

The key valuation ratios of Automotive Axles Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Automotive Axles Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Automotive Axles Ltd

Automotive Axles Limited (AAL)  a joint venture of Kalyani Group and Arvin Meritor Inc., USA (formerly the automotive division of Rockwell International Corporation) was established in 1981, AAL has developed an impressive domestic OEM clientele that includes Ashok Leyland, Telco, Vehicle Factory, Jabalpur,Mahindra & Mahindra, Volvo and Bharat Earth Movers.

The infrastructure at AAL spans highly specialized manufacturing processes involving Friction Welding, CO2 Welding, CNC Machining, Flexible Machine Centres and a range of specially built machines for production of Axles and Brakes. The facilities also comprises Gleason Gear Manufacturing Equipment backed by a modern Heat Treatment Shop including Continuous Carburising and Sealed Quench Furnaces. Wide range of Rear Drive Axles catering to commercial vehicles ranging from 6 Tons to 35 Tons GCW, S-Cam Actuated Quick Change Air Brakes for commercial vehicles, and Trailer Axles for 10 Tons to 13 Tons GVW.

The company’s manufacturing facilities are located at Mysore, the company is currently the largest independent manufacturer of Rear Drive Axle Assemblies in the country. Over the years, AAL has developed an impressive domestic OEM clientele that includes Ashok Leyland, Telco, Vehicle Factory, Jabalpur,Mahindra & Mahindra, Volvo and Bharat Earth Movers. AAL exports axle parts to USA, and Italy.

The company brought in Rockwell’s state-of-the-art manufactureing technology to India way ahead of its time expecting it would be able to penetrate a market segment in which CV manufacturers were making their own axles. Due to unforeseen delays caused due to various factors, it took it several years to achieve this objective. The company had therefore to be content with the business of contract manufacturing in which it could barely recover variable costs resulting in the accumulation of significant losses with interest and depreciation burden contributing to the erosion of over 50% of the company's net worth which led to its reference to BIFR in 1989.

Product range of the company includes:

  • Single drive Axle- AAL offers a broad selection of single rear drive axles ranging from 6000 kg to 14000 kg GAWR for Truck, Bus, Tractor & construction vocations.
  • Tandem Drive Axle- Vehicles used in the mining & Tractor applications are often required to carry extremely heavy loads, AAL offers the following variety of single-reduction tandem drive axles with GAWR capacities from 19000 kg to 28000 kg) for such vehicles.
  • Non Drive Axle- This axle does not have drive but used along with drive axles inorder to increase the vehicle load bearing capacity.

Milestones:

  • 1981 - Foundation Stone laid
  • 1981 - Incorporation and commencement of business
  • 1982 - First Annual General meeting of Members
  • 1983 - First Public Issue of equity shares
  • 1984 - Commercial production of Rear Axle Housing
  • 1986 - Commercial production of Brake Assembly
  • 1988 - Commercial production of Axle Assembly for LCV manufacturers
  • 1991 - Entered Export market by exporting prototypes to MB-Germany
  • 1995 - Rights issue in the ratio of 1:4
  • 1996 - Sales cross Rs. 1 billion
  • 1998 - Quality Management System certified to ISO 9001
  • 2000 - Quality System certified to QS 9000
  • 2003 - Sales cross Rs. 2 Billion
  • 2005 - Quality System certified to TS16949
  • 2005 - Sales cross Rs. 3.5 Billion
  • 2005 - Foundation Stone laid for 'Kalyani Nagar' colony of Employees
  • 2006 - Environment Management System Certified to IS14001
  • 2006 - Silver Jubilee year - Sales Cross Rs. 4.5 Billion

Awards/ Achievements:

  • AAL has a Quality Management System that is certified to ISO/TS 16949:2002 standard and also Environmental Management System that is certified to ISO 14001:2004 standard.
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