GNA AXLES LIMITED

Manufactures auto components, primarily axle shafts (77.16% of turnover), spindles (16.49%) and other shafts (6.35%), from two plants and one office in India. The business is run as a single segment serving customers across 30 Indian states and 12 countries, with exports contributing 45.91% of FY26 turnover. FY26 revenue from operations was Rs 1,478.42 crore, down about 4% from Rs 1,539.74 crore in FY25, but profit after tax rose 9.2% to Rs 116.99 crore as the EBITDA margin expanded to 16.3% from 13.8% the prior year. The cost stack is dominated by materials at 62.6% of revenue, with employee cost at 5.9%, other operating expenses at 16.8% and depreciation at 4.7%; capex ran at 10.7% of revenue. In Q1 FY27, revenue from operations rose about 37% year-on-year to Rs 470.4 crore and PAT rose around 66% to Rs 38.3 crore. A newly incorporated wholly-owned subsidiary, GNA Mobility Limited, has been set up with an Rs 800 crore investment plan to expand into light vehicles, passenger vehicles and electric vehicle components, and the parent has approved investing up to Rs 25 crore in it for capex and working capital.