Wheels India, aims to spend ₹225 crore this year to expand production in key areas due to rising demand. The investment will focus on making large castings, aluminium wheels, earthmoving wheels, tractor wheels, and hydraulic cylinders.
Chairman S Ram announced that aluminium wheel production will increase from 25,000 to 40,000 wheels per month this year. The company saw growth in supplying wheels to the construction equipment industry in FY24.
Since merging with Sundaram Hydraulics Ltd last year, the hydraulic cylinder business has become profitable and is expected to grow further. Ram mentioned that despite low demand for windmill components in FY24, the company increased production of large windmill castings at its profitable plant.
In FY24, Wheels India’s export business grew by 24.5%, driven by earthmover and aluminium wheels. The company has established a subsidiary in the US and plans to open one in Europe to boost its international presence and exports.
Managing Director Srivats Ram assured shareholders that diversified product offerings should enhance profits in FY25. The company expects a stable commercial vehicle market but steady bus demand. In the cast aluminium business, although volumes were low initially, Wheels India aims to supply a major Indian vehicle manufacturer this fiscal year to achieve sustainable production levels.
Wheels India is a prominent company in the automotive sector, known for manufacturing high-quality auto parts, With a strong track record in supplying wheels to construction equipment and a growing export business, Wheels India continues to play a pivotal role in the automotive industry’s supply chain.
