Wheels India's export performance boosts Q2 net up

CHENNAI: Wheels India's focus on exports has paid off, clocking Rs 299 crore in Q2, working out to 26 per cent contribution to the overall revenues of Rs 1,179 cr.

The Chennai-based entity has registered a 26.69 per cent rise in its net profit for the Q2 ended September 30, 2025 at Rs 28 crore as compared to Rs 22 crore registered in the corresponding quarter of the previous year.

Revenues for Q2 ended September 30, 2025 went up 8.63 per cent to Rs 1,179 crore against Rs 1,085 crore registered in the Q2 ended September 30, 2024.

Wheels India's export revenues were Rs 299 crore in Q2, a growth of 15.6 per cent over the same quarter in the previous year. "Despite the global uncertainty and lack of clarity on how the tariff issue will play out, we achieved a 20 per cent exports growth in the first half. We expect this to continue in the second half of the year. There has not been much of a negative impact because of the tariff issue," Srivats Ram, MD, Wheels India, said, noting that major contribution is from the US, at 45 per cent.

For Wheels India, US has grown more than any other overseas market in the first half. "Demand for our products is strong in the US."

On capex plans, he said company is sticking to the capex of Rs 250 crore for the year. "We have already spent over Rs 100 crore in the first half and based on our demand pipeline, we expect to spend the rest in the second half," he added.

Srivats also said the company is cost competitive with good customer access in the construction equipment and agri tractor segment. "We believe we can get Rs 500 crore of additional business in the international market in this segment. We have a started a tractor wheels plant in Mambattu and expect to start exports from this plant in Q3," he said.

Wheels India is also investing Rs 100 crore in capex in the machining of large castings in the wind mill segment besides investing in equipment related to large wind mills in Europe. "Exports will start kicking in next year. We also have opportunities in the domestic market in the wind mill segment," he said