Addressing shareholders at the company’s 66th Annual General Meeting, Chairman S. Ram said the company’s subsidiaries in the US and Europe would play a key role in expanding business development and customer support in overseas markets. This aligned with the company’s continued commitment to growing its export footprint, he added.
Managing Director Srivats Ram echoed this optimism, stating that Wheels India had made significant inroads into the construction and tractor segments abroad. “While there is some uncertainty at present, we are overall positive on the export outlook,” he said.
The company also expects to add another OEM (original equipment manufacturer) in its aluminium wheels segment by Q4 of FY26, further strengthening its global presence. In the air suspension business, the company not only supplied to traditional manufacturers and OEMs but was also a significant supplier to EVs, he said. He added that the air suspension business had been performing well.
Domestic momentum across segments
Wheels India continues to benefit from strong demand across key domestic segments. In the commercial vehicle space, the company reported a shift towards tractor trailers and robust growth in the bus segment, where it supplies air suspension systems and wheels.
In the agricultural segment, domestic tractor sales grew by 8% in FY25, supported by a favourable monsoon. The company commissioned a new tractor wheel manufacturing line in March 2025, aimed at widening its product range and boosting market share in both domestic and export markets.
Passenger vehicle and infra push
The company also began supplying wheels to one of the top four car manufacturers in FY25, as aluminium wheel penetration nears 40% in utility vehicles, which account for 65% of overall passenger vehicle sales.
Looking ahead, Wheels India is upbeat about the construction and mining sectors, where it supplies wheels, structural components and hydraulic cylinders. With infrastructure activity picking up both in India and globally, the company sees strong growth potential in this space.
Financial performance
Wheels India closed FY25 with a 56% jump in net profit, crossing the ₹100-crore milestone for the first time. Net profit stood at ₹105.9 crore for the year ended 31 March 2025. (By Rahul Laud with Special Arrangement with www.shortpost.in)