GNA
GNA Axles share price & financials
- Price
- ₹567.05
- Market cap
- ₹2.4k Cr
What GNA Axles does
GNA Axles Limited manufactures precision-engineered driveline components — rear axle shafts, spindles and drive shafts — supplied to original equipment manufacturers serving the tractor, off-highway and commercial-vehicle segments. It runs two integrated manufacturing units in Punjab (Mehtiana, Hoshiarpur and Gulab Garh Jattan, Kapurthala) covering forging, machining and heat-treatment, selling both domestically and via exports to OEMs across North America, Europe and Asia, including Dana Limited, John Deere, Kubota and Meritor HVS internationally and Mahindra & Mahindra, Escorts and TAFE in India. In 2025 it incorporated a wholly owned subsidiary, GNA Mobility Limited, to widen its product range into components for light vehicles, passenger vehicles and electric vehicles.
Segments
- Off-Highway (Tractor/Agri)
- Commercial Vehicle (CV)
- Manufacturing units
- 2 (Mehtiana, Hoshiarpur and Gulab Garh Jattan, Kapurthala — Punjab, India)
- Product lines
- 3 (Rear Axle Shafts, Spindles, Drive Shafts)
- Countries with market presence
- 14, including USA, Mexico, Brazil, UK, Germany, Spain, Italy, Sweden, Czech Republic, Türkiye, India, China, Japan, Australia
- Rear axle shafts sold (FY2025-26)
- ~40.8 lakh units
- Spindles sold (FY2025-26)
- ~9.4 lakh units
- Drive/other shafts sold (FY2025-26)
- ~4.7 lakh units
Quarterly results
Q1 FY27: revenue up 36.6%, net profit up 65.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 388 | 375 | 378 | 344 | 348 −10% | 375 +0% | 411 +9% | 470 +37% |
| EBITDA | 53 | 52 | 50 | 50 | 61 +15% | 69 +33% | 57 +14% | 72 +44% |
| Net profit | 29 | 25 | 25 | 23 | 31 +7% | 32 +28% | 31 +24% | 38 +65% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +76.0% 1Y
1Y: ₹313.15 on 10 Sept 2025 → ₹551.1. High ₹592 (16 Jul 2026), low ₹298.15 (31 Dec 2025).
Financials, as filed
Revenue fell 2.3% a year over 3 years, FY23 to FY26. Operating margin widened to 16.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.6k Cr | ₹1.5k Cr | ₹1.5k Cr | ₹1.5k Cr |
| Operating profit | ₹233 Cr | ₹197 Cr | ₹210 Cr | ₹237 Cr |
| Operating margin | 14.7% | 13.1% | 13.6% | 16.0% |
| Interest | ₹11 Cr | ₹11 Cr | ₹13 Cr | ₹14 Cr |
| Depreciation | ₹49 Cr | ₹53 Cr | ₹57 Cr | ₹70 Cr |
| Net profit | ₹130 Cr | ₹100 Cr | ₹107 Cr | ₹117 Cr |
| Net margin | 8.2% | 6.6% | 6.9% | 7.9% |
| Cash from operations | ₹105 Cr | ₹98 Cr | ₹92 Cr | ₹214 Cr |
| Free cash flow | ₹30 Cr | ₹10 Cr | ₹-18 Cr | ₹56 Cr |
| ROCE | 21.0% | 15.0% | 14.0% | 14.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹21 Cr | ₹21 Cr | ₹21 Cr | ₹43 Cr | ₹43 Cr | ₹43 Cr |
| Reserves | ₹496 Cr | ₹574 Cr | ₹693 Cr | ₹759 Cr | ₹899 Cr | ₹962 Cr |
| Borrowings | ₹197 Cr | ₹222 Cr | ₹203 Cr | ₹213 Cr | ₹203 Cr | ₹218 Cr |
| Other liabilities | ₹245 Cr | ₹225 Cr | ₹252 Cr | ₹203 Cr | ₹301 Cr | ₹298 Cr |
| Total liabilities | ₹960 Cr | ₹1.0k Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.5k Cr |
| Fixed assets | ₹295 Cr | ₹291 Cr | ₹306 Cr | ₹344 Cr | ₹442 Cr | ₹459 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹12 Cr | ₹8 Cr | ₹10 Cr | ₹35 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹665 Cr | ₹751 Cr | ₹853 Cr | ₹866 Cr | ₹994 Cr | ₹1.0k Cr |
| Total assets | ₹960 Cr | ₹1.0k Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.5k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −3.17 pp while the public added +1.77 pp. The shareholder count shrank 13% to 40,672.
- Promoters
- 65.8%
- FIIs
- 1.7%
- DIIs
- 11.6%
- Public
- 20.9%
Since Jun 2025
- Promoters −3.17 pp
- Public +1.77 pp
- FIIs +1.14 pp
How it drifted, 12 quarters
Over this window promoters fell from 68.2% to 65.8% — −2.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 68.2%, FIIs 1.1%, DIIs 10.8%, Public 19.9%.Dec '23: Promoters 68.2%, FIIs 0.4%, DIIs 10.9%, Public 20.5%.Mar '24: Promoters 68.2%, FIIs 0.2%, DIIs 11.0%, Public 20.6%.Jun '24: Promoters 68.2%, FIIs 0.3%, DIIs 11.2%, Public 20.3%.Sep '24: Promoters 67.8%, FIIs 0.6%, DIIs 11.8%, Public 19.8%.Dec '24: Promoters 67.9%, FIIs 0.5%, DIIs 12.4%, Public 19.2%.Mar '25: Promoters 68.8%, FIIs 0.4%, DIIs 11.3%, Public 19.4%.Jun '25: Promoters 69.0%, FIIs 0.6%, DIIs 11.3%, Public 19.2%.Sep '25: Promoters 69.0%, FIIs 0.3%, DIIs 11.4%, Public 19.3%.Dec '25: Promoters 68.6%, FIIs 0.3%, DIIs 11.4%, Public 19.6%.Mar '26: Promoters 68.4%, FIIs 1.3%, DIIs 11.0%, Public 19.3%.Jun '26: Promoters 65.8%, FIIs 1.7%, DIIs 11.6%, Public 20.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- ICICI Prudential Transportation And Logistics Fund Mutual fund +0.09 pp 1.38% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of GNA Axles above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ranbir Singh | 36.34% | unchanged |
| Jasvinder Singh | 15.01% | unchanged |
| HDFC Small Cap Fund Mutual fund | 9.58% | unchanged |
| Maninder Singh | 7.95% | −2.65 pp |
| Gursaran Singh | 2.50% | unchanged |
| Kulwin Seehra | 2.50% | unchanged |
| ICICI Prudential Transportation And Logistics Fund Mutual fund | 1.38% | +0.09 pp |
| Harjinder Kaur | 1.18% | unchanged |
| Ashmeet Seehra | 0.09% | unchanged |
| Loveleen Kaur | 0.09% | unchanged |
| Rupinder Singh Seehra | 0.03% | unchanged |
| Manjot Seehra | 0.03% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in GNA
Filings to Jul 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹220 Cr
- 3 schemes
- Biggest holder
- HDFC Small Cap Fund
- ₹176 Cr · 0.4% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹176 Cr | held | Dec '22 |
| HDFC Retirement Savings Fund - Equity Plan HDFC Mutual Fund | ₹36 Cr | held | Dec '22 |
| HDFC Retirement Savings Fund - Hybrid-Equity Plan HDFC Mutual Fund | ₹9 Cr | held | Dec '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- +6%
- vs est. average cost
- Held by funds
- ₹220 Cr
- 3 schemes · ≈ 9.9% of the company
- Biggest holder
- HDFC Small Cap Fund
- ₹176 Cr · 0.4% of that fund
Shares held by these funds +114%
Aug '23 41.12 L shares Jul '26
What the price assumes
ExpensiveTo justify its price of ₹551, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~-4%. At that growth it is worth ₹262 — downside of 52%.
- Growth the price implies
- 10.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -3.5% a year
- net profit, FY23–FY26 · EPS -3.5%
- The gap
- 0.1 pp
- -52% downside if it only repeats history
Learn to analyse GNA Axles
Guides on how to read this kind of business and the numbers that matter.