Wheels India Ltd has entered into a technical collaboration with SHPAC, a renowned South Korean manufacturer of hydraulic cylinders, aimed at technology transfer for manufacturing. This agreement marks a strategic step for Wheels India as it targets hydraulic cylinders as a key growth area in its diversified engineering portfolio.
Commenting on the development, Srivats Ram, Managing Director of Wheels India, said, “Expanding our presence in the hydraulic cylinder market has been a clear strategic priority. We see this as a long-term opportunity to build a strong global business in this domain. The partnership with SHPAC will enable us to enhance our technical capabilities and tap into new markets, particularly in Europe and North America, where we are already growing our footprint.”
SHPAC, with decades of expertise and a global customer base, brings valuable technical know-how to the table. The partnership is expected to open up fresh avenues for product development, quality enhancement, and market expansion. “SHPAC’s proven track record and strong global reputation in hydraulic systems align well with our ambitions. This technology tie-up will give momentum to our plans to scale this segment over the next few years,” Mr Ram added.
Wheels India, best known as a major supplier of wheels for construction equipment, commercial vehicles, tractors, and passenger vehicles, also manufactures air suspension systems and components for the construction and wind energy sectors. The company operates manufacturing facilities across Tamil Nadu, Maharashtra, Uttar Pradesh, and Uttarakhand.
Financially, Wheels India continues to show strong performance. The company posted a net profit of ₹26.44 crores for the quarter ended June 30, 2025, on revenues of ₹1,187 crores, with exports exceeding ₹300 crores. In the previous financial year, the company crossed a key milestone with net profits surpassing ₹100 crores.
Wheels India is part of the TSF Group (Trichur Santhanam Family), which traces its roots to the T.S. Santhanam branch of the former TVS Group. The TSF Group has a legacy of over 85 years, with interests spanning automotive manufacturing, parts distribution, vehicle financing, and financial services. Group companies collectively generate revenues exceeding ₹26,000 crores, employing over 42,000 people across 1,200 branches and 36 manufacturing facilities. In financial services, the Group is anchored by Sundaram Finance, a leading NBFC with interests in auto finance, general insurance, housing loans, and asset management.
