TSF Group came into being after the four constituents of the original TVS group chose to go their own ways following a formal legal separation a few years ago.
A lot of it would go into de-bottlenecking of the existing lines. Some investment would also go into aluminum wheels, hydraulic cylinders and wind mills machining segments, he said.
“Positive demand sentiment following GST 2.0, very stable commodity price through most of the year and lowering interest rate contributed to good growth,” he said. Exports did well despite the uncertainty around the tariff issue. In Q4, exports grew by 20%. The fourth quarter of last year was a once-in-a-decade kind of growth. The second-half of last year and particularly Q4 was very strong,” he said while addressing a virtual press conference on Friday.
“We are cautiously optimistic about the prospects of growth this year. Demand is intact. We have had two years of successive growth and better profitability. We believe we can continue this even in these uncertain times. We expect exports to improve further this year compared to last year but feel FY28 will be a better year on the exports front as we are working on new contracts with global customers. Overall, we are confident of doing relatively better going forward,” he said.
“In the tractor segment, we had set up a new plant last year at Mambattu near Chennai and are starting to get orders. We are shipping to overseas customers and expect better volumes in FY28 and FY29,” he added.
To a query, he said that the USA market was doing very well for Wheels India with half of its exports being to the USA in Q4. “This is despite different duty structures during the year,” he said. On the back of an improvement in domestic demand and exports, the
revenue of Wheels India crossed the Rs.5000-crore mark in FY26 at Rs. 5,124 crore, an increase of 16% over Rs. 4,425 crore registered in the previous year ended 31 st March 2025. Net profit for the year ended 31st March 2026 was up at Rs. 139 crore as compared to Rs. 106 crore registered in the corresponding period of the previous year.
Q4 net profit up at Rs.52 crore
For the fourth quarter ended 31st March 2026, the company registered a net profit of Rs.52 crore, up from Rs.36 crore in the corresponding quarter of the previous year. Revenue for Q4 ended 31st March 2026 went up 23% to Rs.1,471 crore as compared to Rs.1,195 crore registered in the same quarter of the previous year.
“The fourth quarter was a record quarter in terms of sales driven by very strong domestic demand in car, truck and tractor segments, on the back of GST 2.0 reforms. The air suspension division also had a strong quarter. On the export front, the demand for earthmover wheels was the driver for growth,” Mr. Srivats Ram said.
Consolidated profit
Along with its passenger car subsidiary, Wheels India’s consolidated profit crossed the milestone of Rs. 150 crore in FY26. The company registered a good rise in its consolidated profit for the year ended 31st March 2026 at Rs.158 crore as compared to Rs.112 crore registered in the same period of the previous year.
The board has recommended a final dividend of Rs. 9.14 per share that combined with the interim dividend of Rs. 5.3 per share declared earlier in the year takes the total dividend for the year to Rs. 14.44 per share.
