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Automotive Axles Ltd. Company History and Annual Growth Details

Automotive Axles Limited was promoted as a joint venture in
1981, between the Kalyani Group and Rockwell International
Corporation, U.S.A. with the object of setting up a plant
at Hootagalli in Mysore, Karnataka, to manufacture 20,000
sets per annum of all types of complete automotive axles
and axle assemblies, including components thereof and
corresponding brake sets. Commercial production commenced
on July 1, 1984.

This delay in commencement of commercial production was due
to the following factors:

1. time taken for obtaining the approvals for products from
OE customers

2. delay in obtaining clearance for import of certain
critical equipment

3. time taken for development of certain critical forgings
and training manpower to achieve requisite skill levels

The Plant was set up at a cost of Rs. 303 million, which
was financed through term loans of Rs. 218.3 million, an
Equity issue of Rs. 82.5 million and the balance was
financed out of Central subsidies (Rs. 1.5 million) and
deferred credit (Rs. 0.7 million). The Company entered the
capital market with an issue of 16,50,000 Equity Shares at
par in July, 1983 and the Issue was oversubscribed 8.03
times.

2002

-Appoints Mr Ashok Rao as President & Wholetime Director of Automotive Axles.

2003

-ICICI Mutual Fund through its various schemes acquires 795868 shares of the company representing 5.26% of the paid up capital of the company.

2004

-Automative Axles Ltd has informed that delisting of Companies Equity Shares from the Bangalore Stock Exchange and Pune Stock Exchange has been approved at the AGM held on January 29, 2004. The Company has further informed that Mr. Adelio Raschi has resigned as Director of the Company wef January 29, 2004.

-Automotive Axles Ltd has informed that the Company's Equity shares are delisted from Bangalore Stock Exchange w.e.f. February 19, 2004.

2007

-AAL Opens New Occupational Health Centre
-Automotive Axles Board approves interim dividend of Rs 6 per share

2008

-Automotive Axles Ltd has appoined Mr. Larry Dowers (who was an Additional Director on Board) as the Director liable to retire by rotation at the Annual General Meeting held on January 18, 2008.

2009

-Automotive Axles Board recommended a final dividend of Rs 2.7 per share

2010

-Appointed Mr.Satish Sekhri as an Additional Director of the Company

-AutomtvAxles - Board recommends Final Dividend of Rs. 8.50 per share of Rs. 10/- each for the year 2009-2010

2011

-Company have established Contract Manufacturing Facility for producing the Trailer Axles

2012

-AutomtvAxles - Board recommends Final Dividend of Rs. 10/- per share of Rs. 10/- each for the year 2011-12

2013
-Our Team participated in "International Convention on QC Circle 2013" and Won the 1st Prize Excellence award which is held at Taipei.
-Automotive Axles Ltd has informed that the Board of Directors of the Company recommended a Final Dividend of Rs. 2/- per share of Rs. 10/- each

2014
-Automotive Axles Ltd has informed that the Board of Directors of the Company recommended a Final Dividend of Rs. 2.50 per share of Rs. 10/- each

2016
-Machinist Super Shop-floor 2016 Award
-Kaizen Awards at Vidyavardhaka College of Engineering, Mysore
-Solar Plant installed at Brakes plant
-Public Convenience Facility at Chamundi Hill, Inaugurated by Sri Siddaramaiah
-Kaizen Awards at Bangalore

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