CHENNAI: Wheels India will invest Rs 280 crore in capex this year, focusing on expanding and debottlenecking existing operations, after reporting a sharp rise in quarterly and annual profits.
The city-based wheel manufacturer posted a 45 per cent jump in net profit for the quarter ended March 31, 2026, at Rs 52 crore compared to Rs 36 crore in the corresponding quarter last year. Revenue for Q4 rose 23 per cent to Rs 1,471 crore from Rs 1,195 crore.
“The capex investment will go into debottlenecking existing lines. Some portion will also go into aluminium wheels, hydraulic cylinders and the windmills machining segment,” its managing director Srivats Ram said on Wednesday.
For FY26, Wheels India crossed the Rs 5,000-crore revenue milestone, reporting Rs 5,124 crore in revenue, up 16 per cent from Rs 4,425 crore in the previous year. Annual net profit rose to Rs 139 crore from Rs 106 crore.
Srivats attributed the growth to “GST 2.0, stable commodity prices for most of the year and lowering of interest rates”. He said exports remained resilient despite tariff uncertainties, growing 20 per cent in Q4.
“Demand is intact. We have had two years of successive growth and better profitability. We believe we can continue this even in these uncertain times,” he said.
The company expects exports to improve further this year, though FY28 is likely to be stronger as it works on new global contracts. Wheels India has also begun securing orders from its new tractor wheel plant at Mambattu near Chennai.
“We are shipping to overseas customers and expect better volumes in FY28 and FY29,” Srivats said.
Consolidated profit, including its passenger car subsidiary, rose to Rs 158 crore in FY26 from Rs 112 crore a year ago. The board recommended a final dividend of Rs 9.14 per share, taking the total dividend for FY26 to Rs 14.44 per share.