About Company

• Established in 1991, Kross Ltd. is a prominent manufacturer of a wide range of forged and machined components in India, with a growing export presence globally. It manufactures a wide range of high performance and safety critical components for the commercial vehicle and tractor segment.

• Kross Ltd is widely recognized as one of the prominent manufacturers of trailer axles & suspension assembly in India. It is one of the few players domestically, with the competency to manufacture trailer axles and suspension assembly-in house.

• The company has witnessed robust growth between fiscal 2021 and fiscal 2024, enabling the company to compete with major trailer axle manufacturers such as York Transport Equipment Pvt Ltd and BPW Trailer Systems India Pvt Ltd. The company utilises the latest design and manufacturing in developing products, thus enabling it to become one of the fastest growing players in the organised trailer axle manufacturing industry.

• Kross Ltd. has a diversified product portfolio catering to the commercial vehicle and tractor industry. Key products manufactured by the company are companion flanges, axle shafts, rear end spindles, anti-roll bars, inter-axle kits, suspension linkages, universal joints and crosses, pole wheels, scam shafts and variety of tractor parts for the hydraulic lift arrangement, PTO shafts, and spindle front axles.

• Kross Ltd. is also a prominent manufacturer of differential spiders in the MH&CV segment.

• Kross has well equipped 5 manufacturing facilities in Jamshedpur, Jharkhand. Their manufacturing facilities (Units I to V) have obtained ISO 9001:2015 for manufacture of axle shaft, PTO shaft, lift shaft, ring gear, bevel gear assembly and related parts from TÜV NORD CERT GmbH and IATF 16949:2016 quality certifications for manufacture of axle shafts, universal joints etc. from TÜV NORD CERT GmbH.

• Kross has backward integrated with design, process engineering, forging, casting and machining capabilities which allows them greater control over process, timelines, pricing and quality.

Strengths

Competitive Strength 

• Long standing relationship with large OEMs and their tier one suppliers, domestic dealers and fabricators;

• Widely recognized as one of the prominent manufacturers of trailer axles and suspension assemblies in India and one of the few players domestically with the competency to manufacture trailer axles and suspension assembly in-house;

• Diversified product portfolio with a focus on continuous value addition;

• Integrated manufacturing operations coupled with in-house product and process design capabilities which offer scale, flexibility and comprehensive solutions;

• Experienced Promoters supported by a management and execution team with proven track record;

• Track record of sustained growth and robust financial performance in the last 3 financial years

Business Strategies 

• Expand capacities at the existing manufacturing facilities to increase manufacturing scale for their existing products and creation of new products;

• Create manufacturing capabilities in axle beam extrusion and backward integration capabilities into the seamless tube;

• Expand the geographical reach through growing exports;

• Continuing focus on reduce operating costs and improving operational efficiency;

• Improve the financial profile.

Company Promoters

Company Financials

Kross Limited's revenue increased by 27% and profit after tax (PAT) rose by 45% between the financial year ending with March 31, 2024 and March 31, 2023.

Objects of the Issue

The Company proposes to utilize the Net Proceeds towards funding the following objects:

1. Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment;
2. Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company, from banks and financial institutions;
3. Funding working capital requirements of the Company; and
4. General corporate purposes