Wheels India Ltd., one of India’s leading manufacturers of wheels for commercial vehicles, tractors, and passenger cars, posted a 56% increase in net profit for FY2024–25, crossing the ₹100 crore milestone for the first time. The strong profit growth was driven by strategic cost control, a favourable product mix, and easing commodity prices.
FY25 Performance: Profit Milestone and Steady Revenue
For the year ended March 31, 2025, the company reported net profit of ₹105.9 crore, up from ₹67.9 crore in the previous fiscal. Total revenue stood at ₹4,425 crore, marginally lower than the ₹4,619 crore reported in FY24.
Q4 FY25 revenues rose 2.4% to ₹1,195 crore compared to ₹1,167 crore in Q4 FY24. Quarterly net profit was ₹36 crore, nearly flat against ₹36.8 crore in the year-ago period.
“Our focus on cost control measures, a favourable product mix, and lower commodity prices led to a strong profit growth in FY25,” said Srivats Ram, Managing Director, Wheels India. “Crossing ₹100 crore in net profit is a significant milestone. We also achieved a turnaround in profitability at our passenger car steel wheel subsidiary, which is encouraging.”
The company invested ₹250 crore in FY25 as part of its capital expenditure plan, with the largest investment directed toward a new facility for larger wheels in the tractor segment. A similar capex outlay is planned for FY26, focused on expanding capacity for manufacturing windmill components, indicating a strategic shift toward higher-value export products.
Building Export Momentum
Exports contributed to overall performance in FY25, led by windmill components. Srivats noted that while the current base is modest, the company is actively laying the foundation for sustained international growth.
“We are setting the groundwork for export expansion over the next three years,” he said.
“The lead time for winning and developing a wider range of products is over a year, but the building blocks are in place.”
Demand Outlook: Positive Sentiment Ahead
Domestically, demand for tractor wheels provided support to topline performance. “There was marginal topline growth, but momentum is building,” Srivats added. “Strong demand for tractor wheels and steady growth in windmill component exports are positive signals as we look ahead.”
