Total expenses fell 17.32% to Rs 517.75 crore in the quarter ended 31 March 2024. Cost of materials consumed was at Rs 395.47 crore (down 19.63% YoY) and employee expense was at Rs 33.47 crore (down 0.71%) during the quarter.

For the full year, consolidated net profit increased 2.54% to Rs 166.15 crore despite of 4.06% decline in net sales to Rs 2,229.17 crore in the year ended FY24 over the FY23.

Meanwhile, the board declared a final dividend of Rs 32 for the financial year ended 2024.

Automotive Axles (AAL) is a joint venture of Kalyani Group and Meritor Inc., USA. With manufacturing facilities located at Mysore (Karnataka), the company is currently the largest independent manufacturer of Rear Drive Axle Assemblies in India. The company has also expanded its footprints in North India with its plants at Pantnagar and Jamshedpur.