Wheels India earmarks Rs 250 crore as capital expenditure for current fiscal

Chennai: Wheels India has drawn up a capital expenditure plan of Rs 250 crore for the current financial year, with the majority of it set aside for manufacturing windmill components.

The city-headquartered company expects its overseas business to be strong during the current financial year, Wheels India Ltd MD Srivats Ram said on Tuesday.

Wheels India reported a net profit of Rs 105.9 crore for the financial year ending March 31, 2025, as compared to Rs 67.9 crore registered in the previous fiscal.

Revenues for the year ending March 31, 2025, stood at Rs 4,425 crore, down from Rs 4,619 crore recorded in the year-ago period.

Commenting on the occasion, Ram said, "We believe exports will be strong this year. We have built the groundwork based on which customers will roll out programmes. Testing and development of products are being done. We are adding to the range of products. Our effort on exports over the last five years is starting to bear fruit now." "We have decent visibility on exports and are positive about the prospects. We expect growth to show up over the next three years," he told reporters.

To a query, he said, "We will be investing Rs 250 crore in capital expenditure this year, including Rs 100 crore in the windmill capacity expansion. We will also be investing in aluminium wheels, balancing equipment, and the hydraulic cylinder businesses." On export growth, he said the company is setting the groundwork for expansion in international markets over the next three years.

"The lead time in winning and developing a wider range of products for this business is more than a year, but the base is being built," he noted.

Wheels India is a manufacturer of wheels for trucks, tractors, passenger vehicles, and many other applications. It also makes industrial components for the construction and windmill industries, with manufacturing plants in Tamil Nadu, Maharashtra, Uttar Pradesh, and Uttarakhand.