The company’s revenues for the first quarter stood at ₹1,187 crore, a 9% increase from ₹1,088 crore in Q1 FY25. Export revenues surged to ₹324 crore during the quarter, up from ₹259 crore in the same period last year, crossing the ₹300-crore mark for the first time, according to a company statement.
“Our revenue growth in the first quarter was driven by demand from export customers. In the domestic market, there was strong demand for our air suspension systems from bus customers,” Srivats Ram, Managing Director, Wheels India.
The company recently set up a subsidiary in Europe with a share capital of €50,000, a move aimed at strengthening its presence in international markets.
“The subsidiaries in the USA and Europe are part of our long-term strategy to focus on and leverage the opportunities in these two geographies, in both the auto and non-auto segments,” Srivats Ram said.
“While we already have customers in these regions, we believe that a local presence will enable us to better service their requirements and build a foundation for business growth over the next 3–5 years,” he added.
Srivats Ram said that the company anticipated strong domestic demand in the tractor segment, supported by favourable monsoon conditions. On the export front, he said that the outlook remained uncertain in the short-term due to potential headwinds from the USA tariffs. He, however, maintained a positive stance on long-term export growth prospects.
