GNA Axles Spreading Wings: Dolat Capital
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Dolat Capital Report
Established in 1993, GNA Axles Ltd. is a leading supplier of rear axle shafts, spindles and drive shafts used in commercial vehicle and off-highway vehicles (tractors and construction equipment).
Domestic and export revenue mix stands at 66% and 34% respectively.
Off highway vehicle contribution accounts for more than 85% of domestic revenue and commercial vehicle contributes approximately 90% of export revenue.
We believe strong performance from the domestic tractor market and sharp recovery in the global commercial vehicles market would be key drivers for the company’s revenue growth.
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