The Jalandhar-based GNA Axles Ltd. is the leading manufacturers of rear axle shafts used on-highway and off-highway vehicular segments in India. It supplies a diverse range of rear axle shafts, other shafts and spindles for the on-highway segment, i.e., for light, medium and heavy commercial vehicles and other transport vehicles such as buses. It also 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 equipment’s, electric carts and other specialty vehicles used in mining and defense sectors.
In order to meet the company’s expansion requirements, it recently came out with the public issue.
Addressing a press conference, Mr. Ranbir Singh, President and COO of GNA Axles, outlined the company’s various activities and its focus on exports.
He said: “We also manufacture solid and hollow spindles used in the axle assembly for various vehicles and equipment’s in the on-highway segment which we supply to our export customers.”
GNA have a broad customer base for both the on-highway and off-highway segments and company’s customers are based in India and overseas. Its customers primarily include original equipment manufacturers (OEMs) such as Mahindra & Mahindra Ltd., John Deere, Tractors and Farm Equipment Ltd. (TAFE), and Tier-1 suppliers to OEMs such as Automotive Axles Ltd., Meritor HVS AB and Dana Ltd. In fiscal 2016, GNA’s domestic sales and export sales constituted 45.29 per cent and 54.71 per cent of its revenue from operations, respectively, on a consolidated basis.
The company has two manufacturing units, located at Kapurthala and Hoshiarpur in Punjab. The facilities together produce the entire line-up for the company for its global operations. More than 54 per cent of its revenues in FY2016 came from export operations.
The company also exports rear axle shafts, other shafts and spindles to countries like the US, Sweden, Turkey, Brazil, Italy, Germany, Spain, Mexico, Japan, the UK, France, China and Australia. Its major global customers include Meritor HVS AB, John Deere, Transaxle Manufacturing of America, Dana Ltd. and Kubota Corporation.