Wheels India Limited reported a substantial increase in net profit for the second quarter ended September 30, 2026, supported by stronger sales across key product segments and improved demand in domestic and export markets. The company’s net profit for Q2 FY2026–27 rose to ₹53.4 crore, compared with ₹27.8 crore in the corresponding quarter of the previous financial year. Revenue increased 36% year-on-year to ₹1,598 crore from ₹1,179 crore in Q2 FY2025–26.
Export performance also improved during the quarter. Export revenue increased to ₹388 crore, compared with ₹299 crore in the same period last year, reflecting higher business across international markets. For the first half of FY2026–27, ended September 30, 2026, Wheels India recorded net profit of ₹90.5 crore, up from ₹54.2 crore in the corresponding period of the previous year. Revenue for the six-month period grew 26% to ₹2,984 crore from ₹2,366 crore in H1 FY2025–26.
Commenting on the results, Srivats Ram, Chairman and Managing Director of Wheels India, said, “The 2nd quarter saw strong sales growth coming from earthmover wheels, air suspension and the domestic Indian markets for cars, trucks and tractors.” The company also completed a fund-raising exercise totalling ₹430 crore during the quarter. This comprised ₹180 crore through a preferential issue and ₹250 crore through a qualified institutional placement (QIP). The proceeds were raised with the objective of reducing debt, and both the fund-raising and the associated debt reduction were completed by the end of September 2026.
Providing an outlook for the second half of the financial year, Srivats Ram said, “In the second half, inflation is a concern. Growth will also be affected by a higher base effect arising out of GST 2.0 demand push that we benefited from in H2 last year.” Wheels India manufactures wheels for trucks, agricultural tractors, passenger vehicles and construction equipment. Its product portfolio also includes air suspension systems for trucks and buses, along with industrial components for the construction and windmill industries. The company operates manufacturing facilities across Tamil Nadu, Maharashtra, Uttar Pradesh, Uttarakhand and Andhra Pradesh.
Wheels India is a manufacturer serving the automotive and industrial sectors, with products supplied to commercial vehicles, agricultural equipment, passenger vehicles and construction equipment. Its operations include wheel manufacturing, air suspension systems and industrial components.
The Trichur Santhanam Family (TSF) Group comprises the TS Santhanam branch of the erstwhile TVS Group and carries forward its tradition of Trust, Value and Service. With a heritage dating back to 1936, the group has interests across automotive and financial services. Companies promoted by the TSF Group collectively report revenue exceeding ₹36,800 crore, employ approximately 42,000 people, operate 1,200 branches and run 36 factories.
Its automotive businesses span component manufacturing, parts distribution, vehicle dealerships and vehicle financing. In financial services, the group promotes Sundaram Finance, established in 1954, which has interests in automotive lending, general insurance, housing finance and asset management.
