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Axles India Unlisted Shares
BUY
₹ 470.00
SELL
₹ 500.00
Low demand for this share has resulted in decrease of its share price.
As on 27 Jul 2026, 07:33 AM, we are buying shares of the AXLES INDIA LIMITED for ₹ 470.00 and selling them for ₹ 500.00 per share.
About Axles India Unlisted Shares
Axles India unlisted shares represent ownership in Axles India Limited, a pioneer in manufacturing axle housings for medium and heavy commercial vehicles since 1982. A joint venture between Wheels India, Sundaram Finance, and Dana Holding Corp (USA), the company operates two plants in Tamil Nadu with an annual capacity of 280,000 axle housings. Serving global clients like Tata Motors, Ashok Leyland, and Volvo Trucks, Axles India combines engineering excellence with a 40+ year legacy.
Who Is Axles India Limited, and Why Do Investors Want to Invest?
Do you have a query on Axles India Limited's unlisted share price, or do you want to know more about this company? This page will provide all the necessary information regarding this company in easy language. Axles India Limited is a manufacturer of axle housings for medium and heavy commercial vehicles in Tamil Nadu. Founded in 1982, the company has been quietly creating one of the best positions of India in this particular niche segment of automotive components for almost five decades. In other words, every commercial truck or bus requires an axle, which serves as the main link between the wheel and the chassis. The axle housing is an enclosure protecting the axle and keeping the wheel assembly secure in place. Axles India is the supplier of such crucial components to the majority of large-scale vehicle manufacturers from India and abroad.
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What Factors Determine the Axles India Limited Unlisted Share Price?
The Axles India Limited share price can be found in the unlisted stock market since the company does not have an official listing on NSE and BSE. Currently, this company trades in the private secondary market.
Important factors influencing Axles India's unlisted shares price at present are as follows:
- Increase of revenue from ₹746 crore in FY23 to ₹854 crore in FY24, a steadily increasing number indicating growing demand from OEMs.
- Net profit rose from ₹53 crore in FY23 to ₹86 crore in FY24, an increase of 62% compared to the previous year.
- EBITDA rose from ₹85 crore in FY23 to ₹129 crore in FY24 operating margins improved from 11.39% to 15.11%.
- The company's ROE equals to 22%, ROCE is 28.71%, extremely impressive rates for a traditional manufacturing company.
- A 41% dividend payout in FY24 – one of the most generous dividend policies among unlisted industrial companies.
The company's debt-to-equity ratio amounts to 0.16, virtually no debt compared to the equity.
Axles India Unlisted Shares List: Who Are the Promoters and the Clients?
One feature distinguishing the Axles India unlisted shares list from that of other companies is a joint venture structure. In particular, Axles India Limited is a three-way joint venture between such companies as:
- Wheels India Ltd. is the leading manufacturer of wheels in India (part of the TVS Group).
- Sundaram Finance, a well-respected Chennai-based NBFC company experienced in investing in the manufacturing sector.
- Dana Holding Corporation, USA the leading global manufacturer of drivetrain and sealing systems for vehicles.
Thus, thanks to the presence of Dana, Axles India has access to global technology, while Wheels India contributes its local manufacturing expertise to the company, and Sundaram Finance brings financial discipline. This explains the high share of Axles India in India's commercial vehicle axle housings market, above 30%. Main clients of Axles India include Tata Motors, Ashok Leyland, Daimler, Volvo Trucks Asia, and Dana USA. This indicates high demand from India's and the world's best commercial vehicle manufacturers. Operating two factories in Tamil Nadu with a production capacity of 280,000 axle housings annually, Axles India supplies axle housings for both domestic OEMs and international markets.
Axles Unlisted Share India IPO Date: Important Information for Investors
One question asked frequently by investors is what Axles India's IPO date will be. No DRHP has been submitted to SEBI yet, and hence, there is no official information on the Axles India IPO date.
However, the following reasons might force this company to launch an IPO:
- Growing revenues and profits
- Specific decision taken by JV partners, especially Dana, with years of experience on global capital markets.
- Potential changes in ownership and control.
Before an official Axles India IPO date is announced, buying and selling of Axles India unlisted shares is done through the private secondary market using platforms such as Delisted Stocks, which provides live Axles India unlisted shares price.
Is Axles India Listed in NSE?
Some investors may wonder whether the Axles India unlisted shares NSE quote exists in order to estimate the Axles India Limited unlisted share price. In fact, Axles India Limited is not listed in either NSE or BSE at the moment. Having been delisted earlier, the company has been trading in the private secondary market. Thus, all Axles India unlisted shares are available in the private off-market secondary market.
Why Investors May Consider Investing in Axles India Unlisted Shares
While many other Indian unlisted shares attract attention because of their growth potential and upcoming IPO, Axles India Limited is different from them in a way. This is a profitable unlisted share, which already pays dividends and has been in operation for 40 years. Besides, its JV partners are very reputable players, while the list of clients includes many blue chip OEMs. In addition, the company boasts impressive financial ratios, rarely seen even in listed corporations. For example, the Axles India Limited unlisted share price shows ROE of 22%, ROCE 28.71%, a 41% dividend payout ratio, zero debt, and net profit growing by 62%. The unlisted Axles India shares price, according to many investors' opinion, are significantly underpriced.
Important factors influencing future growth of the company are expected expansion of India's commercial vehicle market due to infrastructure investments, development of axle housings for electric commercial vehicles, exports to foreign markets thanks to the company's JV partnership with Dana, and increased demand from defense and special applications vehicle sectors.
How to Buy Axles India Unlisted Shares?
It is pretty simple to buy Axles India unlisted shares on the DelistedStocks website. Let us review a typical process of Axles India unlisted shares purchase in 4 easy steps:
- Step 1: contacting DelistedStocks.in to learn the current Axles India Limited unlisted share price and find out the minimum lot size (at least ₹15,000 worth of shares).
- Step 2: Completing KYC: PAN card, Aadhaar, Demat account details, and cancelled cheque.
- Step 3: negotiating the price, quantity of shares, and total transaction amount.
- Step 4: transferring the money and getting Axles India unlisted shares in your Demat account the same day or tomorrow.
Business Segments
- Axle Housings (Core Product):
- Pressed axle housings for commercial vehicles (domestic and export markets).
- Custom solutions for OEMs to optimize performance and fuel efficiency.
- Export Operations:
- Exports to Dana USA, Volvo Trucks Asia, and other international markets.
Financial Highlights (2021–2024)
- Revenue Growth: Revenue CAGR of 41% (2021–2024), driven by domestic OEM demand and exports.
- Profitability Surge: PAT skyrocketed from ₹3 crore (2021) to ₹86 crore (2024), with NPM improving from 0.98% to 10.07%.
- EBITDA Expansion: EBITDA surged 1,513% (₹8 crore to ₹129 crore), reflecting cost optimization.
- Asset Growth: Total assets increased 52% (₹341 crore to ₹518 crore), driven by fixed assets (+₹2 crore) and inventory (+₹118 crore).
- EPS Growth: EPS jumped from ₹1.18 (2021) to ₹33.74 (2024), enhancing shareholder value.
- Debt Management: Borrowings reduced to ₹54 crore (2023) before rising to ₹82 crore (2024), manageable against reserves.
Axles India Unlisted Shares Considerations
Axles India unlisted shares appeal to investors targeting India’s automotive and logistics growth. The company’s leadership in axle housings, margin resilience, and export capabilities position it for sustained growth. However, risks include:
- Economic Sensitivity: Commercial vehicle demand ties to GDP and infrastructure cycles.
- Input Cost Volatility: Steel prices impact gross margins.
- Working Capital Strain: Rising inventory (₹210 crore in 2024) needs efficient turnover.
Key Valuation Drivers:
- Export Expansion: Leveraging Dana’s global network to boost international revenue.
- EV Transition: Adapting axle solutions for electric trucks and buses.
- Debt Control: Maintaining low leverage (Debt/EBITDA: 0.64x in 2024) to protect margins.
Disclaimer* This research has been conducted for investment purposes based on available data. Investors are advised to perform their own research and due diligence before making any investment decisions. We do not assume any responsibility for financial losses or inaccuracies in the data provided.
Pros
- Market Leadership – Commands 30%+ share in India’s commercial vehicle axle segment.
- Strong Clientele – Trusted supplier to Tata Motors, Ashok Leyland, Daimler, and Volvo Trucks.
- Robust Financial Growth – Revenue surged 179% to ₹854 crore, with PAT up 2,767% to ₹86 crore.
Cons
- Sector Cyclicality – Business is highly dependent on commercial vehicle demand and economic conditions.
- Gross Margin Pressure – Declined from 36.38% (2022) to 32.55% (2024) due to rising material costs.
- Rising Debt – Borrowings increased to ₹82 crore in 2024 after a decline in 2023.
Key Details
| Share Name | Particulars |
|---|---|
| Axles India | 500 |
| Shares Price | Per Equity Share |
| Minimum Lot Size | Shares Worth Rs. 20000 |
| Depository | NSDL & CDSL |
| PAN Number | AAACA3173D |
| ISIN Number | INE701C01011 |
| CIN | U27209TN1981PLC008630 |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 1261.79 |
| P/E Ratio | 17.21 |
| P/B Ratio | 3.33 |
| Debt to Equity | 0.03 |
| ROE (%) | 19.84 |
| Book Value | 150.15 |
| EPS | 28.74 |
| Face Value | - |
| Total Shares | 25235739.54 |
Financials
| P&L Statement | 2026 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | 887.85 | 846.78 | 854 | 746 |
| Cost of Material Consumed | 488 | 479 | 576 | 478 |
| Gross Profit Margins | 45.04% | 43.43% | 32.55% | 35.92% |
| EBITDA | 110.7 | 105.56 | 129 | 85 |
| EBITDA Margins | 12.47% | 12.47% | 15.11% | 11.39% |
| EBIT | 97.58 | 94.02 | 116 | 73 |
| EBIT Margins | 10.99% | 11.10% | 13.58% | 9.79% |
| PBT | 96.58 | 93.15 | 115 | 71 |
| PAT | 73.3 | 69 | 86 | 53 |
| NPM | 0.00% | 0.00% | 10.00% | 7.00% |
| EPS | 28.74 | 26.96 | 33.74 | 20.79 |
| Cash Flow Statement | 2026 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Cash from Operating Activity | 98.81 | 118.04 | 32 | 18 |
| Cash from Investing Activity | -1.49 | -29.84 | -32 | -12 |
| Cash from Financing Activity | -50.75 | -68.99 | - | - |
| Net Cash Flow | 46.57 | 19.21 | 0 | 6 |
| Assets | 2026 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Fixed Assets | 93.1 | 57.84 | 62 | 59 |
| CWIP | - | - | - | - |
| Investments | 3.04 | 2.01 | 2 | 0.5 |
| Trade Receivables | 198.8 | 190.7 | 202 | 215 |
| Inventory | 151.25 | 178.54 | 210 | 123 |
| Other Assets | 96.84 | 89.67 | 42 | 18.5 |
| Total Assets | 543.03 | 518.76 | 518 | 416 |
| Liabilities | 2026 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Share Capital | 25.49 | 25.49 | 25.49 | 25.49 |
| Reserves | 344 | 282.12 | 249 | 186 |
| Borrowings | 10.62 | 50.18 | 82 | 54 |
| Trade Payables | - | - | - | - |
| Other Liabilities | 162.92 | 160.97 | 161.51 | 150.51 |
| Total Liabilities | 543.03 | 518.76 | 518 | 416 |
Peer Comparison
| Company | Market Cap (cr.) | Revenue (cr.) | P/E | P/B | ROE (%) |
|---|---|---|---|---|---|
| Axles India | 1261.79 | 887.85 | 17.21 | 3.33 | 20% |
| GFCL EV PRODUCTS LIMITED | 29548.46 | 3322 | -2.83 | 19.51 | -11280% |
| GKN Driveline India | 2203.35 | 1100.17 | 22.72 | 40.28 | 29% |
| Elofic Industries | 815.22 | 461.54 | 10.59 | 2.38 | 23% |
| Ring Plus Aqua | 539.09 | 441.5 | 10.57 | 2.43 | 24% |
| Hella India Lighting | 344.44 | 416.89 | 11.88 | 1.86 | 17% |
Promoters or Management
| Name | Designation | Share in % |
|---|---|---|
| Madhavan Varadarajan | MD | - |
| S Ram | Chairman | - |
| Y Krishnamoorthy | CFO | - |
| Promoters | - | 96.63% |
| Public Shareholding | - | 3.37% |
Frequently Asked Questions
Is it legal to buy Axles India unlisted shares in India?
The buying and selling of unlisted shares and pre-IPO shares is fully legal and valid.
How to buy Axles India unlisted shares?
The procedure to buy the Axles India unlisted shares is fairly simple. Once you have settled on the price and quantity of the transaction, you would have to transfer the funds into the bank account of the seller. Once the funds are transferred and transaction details are shared with the seller, your demat account will be credited with the shares either on the same day of the fund transfer or before the end of the next working day.
Is Axles India involved in selling its unlisted shares?
In the secondary market, the transactions related to unlisted shares take place with the existing owners of the shares who are generally the employees or existing investors in the company. The company itself is not directly involved.
When will the Axles India unlisted shares be credited into my demat account?
The Axles India unlisted shares will get credited either the same day or before the end of the next working day when you transfer the funds into our bank account.
Is there any minimum lot size limit to buy Axles India unlisted shares?
The minimum lot size varies on the basis of market conditions and demand and supply factors. To know the current lot size of Axles India, please visit the stock page on our website: www.delistedstocks.in
How is the market price of Axles India unlisted shares determined?
There are many factors which influence the pricing of unlisted shares. Apart from the supply and demand factors, the latest transactions happened on the same stock, last funding round of the company, and valuation level of companies of the similar size affect the pricing of the unlisted shares.
What is the minimum lock-in period for Axles India unlisted shares?
Before IPO, there is no restriction on sale and transfer of your Axles India unlisted shares. But once the shares are listed on the stock exchange, for retail investors, there is a minimum lock-in period of 6 months after listing on the stock exchange.
How to sell Axles India unlisted shares?
Once the selling price and quantity of shares is agreed with us, we will provide you with a UTR number to transfer the shares. Once you have transferred the shares into our company’s demat account, funds are released into your bank account within 24 hours or before the end of the next working day of the transfer of the shares.
What is Axles India Limited about?
Axles India Limited produces axle housing for medium to heavy commercial vehicles. Such housing is an essential part as it provides the necessary support to the axles as well as connects the wheels with the vehicle chassis. Having numerous years of experience and good relationships with OEMs, the company has managed to create a strong position in its niche within the automotive sector.
Why invest in Axles India Limited unlisted shares?
Unlisted shares of Axles India Limited have become popular due to its stable financial performance, profitability, and large number of dividends paid. Unlike many other companies that have not made their IPO yet, this one already shows impressive financial growth rates, positive return ratios, low debt, and other factors that attract the attention of potential investors. What is more, the company has existed for more than twenty years.
What influences Axles India Limited unlisted share prices?
Factors that directly affect the Axles India Limited unlisted share prices include financial growth rate, demand for the axle housing of the company among manufacturers, profitability margin, and dividend history. Among the most important indicators, we can name revenue increase, net profit increase, improving EBITDA margin, return on equity (ROE), and others. At the same time, demand and supply in the unlisted shares market is crucial for the prices too.
Who are Axles India Limited joint venture partners?
Axles India Limited is owned by three firms. First, we can mention Wheels India Ltd, a company specializing in the production of wheelsets, axleboxes, and axles for railways. In addition, it has a partner called Sundaram Finance, which has a good reputation in India as a financing firm. Finally, Axles India is owned by the largest global supplier, Dana Incorporated, which provides axles for cars.
Who are Axles India Limited major clients?
Major clients of Axles India Limited are some leading automobile producers like Tata Motors, Ashok Leyland, Daimler Trucks, Volvo Trucks, and so on. Their orders prove the great reputation of the company and its products. Besides, it shows that the company faces constant demand for its goods from both local and foreign customers.
Is Axles India Limited listed on NSE or BSE?
No, Axles India Limited is not currently listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). Actually, the company was delisted some time ago, but it still remains in operation and offers its products to clients.
Does Axles India Limited have an IPO date?
Axles India Limited does not plan any IPO at the moment as it did not file a draft prospectus with the Securities and Exchange Board of India. However, financial growth, certain decisions of the company's joint venture owners, and plans regarding future operations may play an important role in the decision.
How to buy Axles India Limited unlisted shares?
To buy shares in the company, it is necessary to contact a registered platform providing trading of the unlisted shares. Investors should check the current price first, complete the KYC verification procedure, get necessary information about the transaction, and finally get the purchased shares to their Demat account.
What are the growth drivers for Axles India Limited in the future?
The future growth of Axles India Limited will be promoted by the rising demand for commercial vehicles, infrastructural projects, the development of the electric vehicle industry, and opportunities related to exporting its products abroad. Global partnership and strong market presence in the Indian subcontinent will allow the company to reach success in these areas.
What should investors consider before investing in Axles India Limited unlisted shares?
First of all, the company should be analyzed concerning its financial results, profitability margin, return on investment (ROI), dividends, and so on. What is more, investors should pay close attention to the liquidity of the shares and other factors related to unlisted share transactions.