Automotive Axles bets on new product launches to power up growth
After reporting a strong second quarter performance, Mysuru-based Automotive Axles on Friday said it's counting on new product launches to power up growth.
After reporting a strong second quarter performance, Mysuru-based Automotive Axles on Friday said it's counting on new product launches to power up growth.
In an interview to CNBC-TV18, N Muthukumar, president and whole time director, said the capacity utilisation is around 80-85 percent, adding that Automotive Axles would be adding another 30 percent capacity by March, 2019 to cater for the growing demand.
Muthukumar expects the market to grow by 12-15 percent and the company to do better than the market.
Automotive Axles, which is a joint venture company between the Kalyani Group of Pune and Meritor of the US, said only 8 percent of overall revenues come from the international market and the focus is more on domestic market.
Most of the commercial vehicle customers like Ashok Leyland, Tata Motors, Mahindra, Daimler and Volvo-Eicher etc. are their top 5 clients, to whom they supply axles and brakes, Muthukumar said..
With regards to the off highway axles business, he said currently the revenue is 10 percent, but would continue to invests in that segment.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Lok Sabha Election 2024 — how regional parties are challenging national giants in Phase-4
May 15, 2024 6:17 AM
Supreme Court refuses plea seeking 6-year poll ban on PM
May 14, 2024 7:14 PM
Punjab Lok Sabha elections 2024: A look at BJP candidates
May 14, 2024 7:06 PM
Lok Sabha polls: EC disposes of 90% complaints related to MCC violations
May 14, 2024 4:45 PM