Srivats Ram, MD, Wheels India, said, “It has been our intent to focus and grow the hydraulic cylinder business significantly over the next few years. We believe this business segment has the potential to be an important growth driver for Wheels India globally, going forward. Wheels India, which is a leading manufacturer of wheels for the construction equipment global industry, has been expanding its presence in Europe and North America. We expect to leverage the technology transfer by accessing existing customers and will continue to invest in the hydraulic cylinder business as opportunities arise,” he said.
The company plans to leverage the technology transfer by accessing existing customers and will continue to invest in the hydraulic cylinder business.
SHPAC is a leading manufacturer of hydraulic cylinders in South Korea with a successful track record over the last few decades, exporting products worldwide. The technical technology transfer agreement is expected to create new growth opportunities for Wheels India in the global hydraulic cylinder industry.
Wheels India crossed a Net Profit of Rs. 100 crores last year. For Q1 ended 30 June 2025, Wheels India registered a Net Profit of Rs. 26.44 crores on revenues of Rs. 1,187 crores. Export revenues for Q1 crossed the Rs. 300 crores mark.
