Wheels India Ltd, a prominent manufacturer of steel wheels catering to trucks, agricultural tractors, passenger vehicles, and construction equipment, has outlined a capital expenditure of Rs 200 crore for the current financial year, announced the company's Managing Director, Srivats Ram.
The investment will primarily target enhancing capacities for offload tractor uploading, as well as fabrication and machining capabilities for cast aluminum sections crucial in windmill castings.
With an optimistic outlook for FY25, Wheels India anticipates sustained growth, buoyed by robust export performance, which surged by 24.5 percent in FY24, driven notably by strong demand in key markets like the US.
Additionally, the company has witnessed commendable growth in profits within the water sector. Looking forward, Wheels India is gearing up to introduce new initiatives in collaboration with global customers, slated for launch in the fourth quarter of this fiscal year.
