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Wheels India Ltd plans to invest around INR 300 crore during FY27 to expand its presence across the tractor, wind energy, hydraulic cylinder and air suspension businesses. Speaking at the company's 67th Annual General Meeting, Chairman and Managing Director Srivats Ram said the air suspension segment recorded strong double-digit growth in FY26, supported by higher electric vehicle (EV) adoption, fleet modernisation, intercity transport expansion and increased demand for air-conditioned sleeper buses. The company also expects continued momentum in its car wheels business and remains optimistic about growth in wind energy components despite concerns over commodity price inflation linked to geopolitical tensions in West Asia.
Wheels India Ltd will invest around INR 300 crore during FY27 to strengthen its manufacturing capabilities across key business segments, including tractors, wind energy, hydraulic cylinders and air suspension systems, Chairman and Managing Director Srivats Ram said during the company's 67th Annual General Meeting held via video conference.
Ram said the company's air suspension business recorded strong double-digit growth during FY26, driven by multiple demand factors, including the growing penetration of electric vehicles (EVs), increasing intercity bus operations, rising adoption of air-conditioned sleeper coaches and fleet modernisation programmes undertaken by state transport undertakings (STUs). He added that higher component content per vehicle also contributed to the segment's growth.
The company expects the positive momentum in the air suspension business to continue during the current financial year, supported by ongoing investments in public transport and commercial vehicle upgrades.
Commenting on the alloy wheels business, Ram said Wheels India continues to invest in expanding the segment and aims to achieve higher production volumes in the coming years.
The company also expects growth in its components business serving the wind energy sector. Ram said revenues from the windmill segment increased by 14% in FY26, supported by new business from offshore wind projects. He added that demand is expected to remain favourable in both domestic and international markets, while the company continues to expand its machining operations for large castings used in the sector.
Wheels India's subsidiary, WIL Car Wheels Ltd, reported improved profitability during the previous financial year on the back of higher production volumes, improved capacity utilisation and operational efficiencies. According to Ram, the business is expected to maintain its growth trajectory during FY27.
He, however, cautioned that commodity price inflation arising from geopolitical tensions in West Asia could create cost pressures in the near term, although he expressed confidence that prices would stabilise as the year progresses.
Responding to shareholders' queries, Ram said the planned INR 300 crore capital expenditure would primarily support capacity expansion across the tractor, wind energy, hydraulic cylinder and air suspension businesses. He added that the company intends to strengthen its global presence in both the construction equipment and agricultural tractor segments, where it sees significant long-term growth opportunities.
Ram said Wheels India already holds a leadership position in the construction equipment wheels segment and aims to build a similar position globally in agricultural tractor wheels.
Discussing the company's broader growth strategy, he said Wheels India plans to expand its machining capacity for large castings and scale up its cast aluminium business, which is currently operating from a relatively small base. The company has secured new orders from several Indian original equipment manufacturers (OEMs) and expects the business to grow during the current financial year.
He also identified hydraulic cylinders as another business with significant expansion potential, while reiterating confidence in sustaining growth in the air suspension segment. In addition, the company introduced around 250 new products during the year as part of its product development programme.
For FY26, Wheels India reported a net profit of INR 139 crore on revenue of INR 5,124 crore. The company manufactures wheels for trucks, passenger vehicles, agricultural tractors and construction equipment, along with air suspension systems and industrial components, through manufacturing facilities located across Tamil Nadu, Maharashtra, Uttar Pradesh, Uttarakhand and Andhra Pradesh.
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