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Automotive Axles share price & results

Automotive Axles Limited· Automobile and Auto Components· Consumer Discretionary

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Bharat Forge-Meritor JV making axles, brakes and suspension systems for commercial vehicles in India

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue517 ₹ crore+5.7% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin12.0 %+2.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit46.0 ₹ crore+27.8% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity17.64 %−0.3 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin4.68 %−0.9 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)6.27 %+11.6 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

5 of 5 judged targets kept · 10 open · verdicts reflect calls analysed to Q1 FY27.

Automotive Axles Limited management guidance track record on Inve: 15 targets tracked across analysed earnings calls (5 achieved, 0 missed, 10 open).

TargetOriginal wordingSaidLatest callVerdict
EBITDA MarginImprove beyond 13-13.5% in the next 3 to 4 years
Call transcript, Q3 FY25 · 10 Feb 2025		Q3 FY25Q1 FY27:Achieved 13.6% EBITDA margin, one of the highest ever, surpassing the 13-13.5% target range.
Call transcript, Q1 FY27 · 6 Aug 2026		Achieved
Industry VolumeOverall TIV (Total Industry Volume) to be 400,000+ vehicles in FY27
Call transcript, Q4 FY26 · 20 May 2026		Q4 FY26Q1 FY27:Industry volume forecast for FY27 revised upwards. Initial projection was a 15-20% decline from FY26 (480k units), now revised to a smaller 5-10% decline. This keeps the volume well above the 400k+ target.
Call transcript, Q1 FY27 · 6 Aug 2026		Revised Up
RevenueDouble revenue by 2029-2030 (14-16% CAGR)
Call transcript, Q3 FY25 · 10 Feb 2025		Q3 FY25Q1 FY27:Q1 revenue dipped to INR 516.8 cr, a sequential decline. However, management focus is on capacity expansion (40% of Phase 1/1a capex done) to meet future demand, keeping the long-term target viable.
Call transcript, Q1 FY27 · 6 Aug 2026		On Track

Source: Inve Guidance Tracker for Automotive Axles Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

10 of Automotive Axles Limited's 15 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 12 more targets are in the full ledger.

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Price

₹1,585.9 +0.29% · +₹4.6

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −7.9% 1Y

₹1.6k₹1.8k₹2.0kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 31 Oct 2025Q3 FY26 — 6 Feb 2026Q4 FY26 — 20 May 2026Q1 FY27 — 6 Aug 2026

1Y: ₹1,721.8 on 24 Oct 2025 → ₹1,585.9. High ₹2,109.3 (4 Feb 2026), low ₹1,547.1 (30 Mar 2026).

Previous close
₹1,581.3
Market cap
₹2.4k Cr
52-week range
₹1,547.1 – ₹2,109.3
One year
−8.61%
Price to earnings (TTM to Jun 2026)
13.02×
Return on equity (TTM to Jun 2026)
17.64%

Overview

Symbol
NSE:AUTOAXLES
Industry
Consumer Discretionary
Exchange
NSE
Currency
INR

What Automotive Axles Limited does

Based on the company's own presentations, annual report and earnings calls.

Automotive Axles Limited is a 1981-incorporated joint venture between Bharat Forge Limited (Kalyani Group) and Meritor Heavy Vehicle Systems LLC (USA), manufacturing drive axles, non-drive axles, front steer axles, off-highway axles, drum and disc brakes, and suspension systems for commercial vehicles. It runs three plants in Mysuru (Karnataka), Rudrapur (Uttarakhand) and Jamshedpur (Jharkhand), supplying OEMs across light, medium and heavy commercial vehicles, military and off-highway segments, plus the aftermarket. The company holds a leading position in India's independent axle market and ranks second in brakes, with an installed base of over 2.2 million axles on Indian roads. From April 2025 it began selling directly to OEMs, ending its earlier arrangement of routing sales through Meritor HVS (India) Limited, which continues to support it with market intelligence, product design and testing services.

Segments

  • Axles (rear and front)
  • Brakes
  • Others incl. Suspension
Manufacturing plants
3 (Mysuru-Karnataka, Rudrapur-Uttarakhand, Jamshedpur-Jharkhand)
Ownership structure
Joint venture between Bharat Forge Limited (Kalyani Group) and Meritor Heavy Vehicle Systems LLC, USA
Market position
#1 in independent axles, #2 in brakes
Installed base
2.2 million+ axles on Indian roads
Total workforce (employees + workers)
2,983 (FY25)
Product range
Drive axles, non-drive axles, front steer axles, off-highway axles, drum & disc brakes, suspension systems
Founded 1981Headquarters Mysuru, Karnataka, IndiaEmployees 931 (March 31, 2025) Company website

How the price took the results

close before → close after

Q1 FY27
−4.7%
6 Aug
Q4 FY26
+3.7%
20 May
Q3 FY26
−2.4%
6 Feb
Q2 FY26
−4.5%
31 Oct

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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