Wheels India Ltd expects the exports to grow this year despite the uncertainty around tariffs. The overseas subsidiaries in the US and Europe will give thrust to the business development and customer support in these geographies and are consistent with the company’s commitment to grow its export business, said the company’s chairman Srivats Ram at the 66th Annual General Meeting on Thursday.
On the commercial vehicle segment, Ram said that there has been a shift towards tractor trailers. There has been a strong growth in the bus segment where the company supplies air suspension systems and wheels. The domestic agricultural tractor segment grew by 8 per cent in FY25 driven by a favourable monsoon, he said.
Ram said that the company commissioned a new tractor wheel line in March this year, which will widen the product range and increase its presence in domestic and international markets.
In the passenger vehicle segment, Ram said that the utility vehicles contribute to 65 per cent of the units sold. With penetration of aluminium wheels coming close to 40 per cent of the fitment, the company started supplies to one of the big four car manufacturers in FY25.
The construction and mining segment, where the company supplies wheels, welded structural components and hydraulic cylinders, is expected to grow as infra-activity picks up both in India and in the global markets.
Making inroads
Answering shareholders’ questions, Ram said that the company has made inroads in the construction and tractor segment in overseas markets and the prospects look good. While there was uncertainty, the company was positive overall on the exports front, he said.
On the aluminium wheels segment, he said that the company has been supplying to original equipment manufacturers (OEMs) and hoped to add another OEM in Q4 this year.
On the air suspension segment, Ram said that the company not only supplied to traditional manufacturers and OEMs but is also a significant supplier to EVs.
Wheels India is a leading manufacturer of wheels for trucks, agricultural tractors, passenger vehicles and construction equipment; air suspension systems for trucks and buses, and industrial components for the construction and windmill industry with manufacturing plants in Tamil Nadu, Maharashtra, Uttar Pradesh and Uttarakhand, says a release.
