Automotive Axles jumped up to hit a new high today at Rs.1144 on the back of its excellent numbers for Q2FY18.
The company’s net profit more than doubled to Rs.20 crore from Rs.10 crore in previous Q2. Thius surge in bottomline was mainly on the back of a robust topline.
Revenue in Q2 rose to Rs.350 crore, up 53% (YoY).
EBITDA rose 62% to Rs.39 crore while margins jumped up from 10.6% to 11.2%.
Established in 1981, Automotive Axles Limited (AAL) is a joint venture of Arvin Meritor Inc., USA (formerly the automotive division of Rockwell International Corporation), a Fortune 500 company, and the Kalyani Group. With manufacturing facilities located at Mysore, the company is currently the largest independent manufacturer of Rear Drive Axle Assemblies in the country.