Wheels India Ltd., (WIL) has announced a capex of ₹225 crore for FY25 along with raising production of its aluminium wheel business and machining for large windmill castings.
WIL’s TN-based plant will raise its aluminium wheels production from 25,000 wheels to 40,000 a month this year, MD Srivats Ram said.
The auto component maker a posted 25% growth in its export business in FY24, driven by exports of earth mover and aluminium wheels.
The firm has plans to form a European subsidiary to expand its market there. It already has a U.S. incorporated subsidiary.
Addressing the 65th Annual General Meeting Chairman S. Ram said the hydraulic cylinder business has grown reasonably and become profitable following the merger of Sundaram Hydraulics Ltd. with WIL in FY24.
Mr. Ram said demand for windmill components was muted in FY24, but said the large windmill castings plant recently turned profitable.
