IPO: GNA Axles Ltd

Company & Business Profile

Established in 1993, GNA Axles Ltd. is among the leading manufacturers of rear axle shafts used in on-highway and off-highway vehicular segments in India. Since its first supplies in 1996-97 and first exports in 2001, company has grown to production levels of more than 2.26 million components in FY16.

Company manufactures and supplies a diverse range of rear axle shafts, other shafts and spindles for the on-highway segment, i.e. for LCVs, MCVs and HCVs and other transport vehicles such as buses. It also manufactures and supplies a diverse range of rear axle shafts and other shafts for the off-highway segment, i.e. for agricultural tractors and machinery, forestry and construction equipments, electric carts and other specialty vehicles used in mining and defence sectors. Company also manufactures solid and hollow spindles used in the axle assembly for various vehicles and equipments in the on-highway segment which they supply to their export customers.

Company has a broad customer base for both the on-highway and off-highway segments and customers are based in India and overseas. Customers primarily include OEMs such as Mahindra & Mahindra Limited, John Deere, TAFE, and tier-1 suppliers to OEMs such as Automotive Axles Limited, Meritor HVS AB and Dana Limited.

Company exports rear axle shafts, other shafts and spindles to various countries including USA, Sweden, Turkey, Brazil, Italy, Germany, Spain, Mexico, Japan, UK, France, China and Australia. Major global customers include Meritor HVS AB, John Deere, Transaxle Manufacturing of America, Dana Limited and Kubota Corporation.

Objects of the Issue

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