Wheels India breaches ₹100-cr mark in FY25 net profit

Our focus on cost control measures, a favourable product mix, and lower commodity prices led to strong profit growth in FY25, enabling us to cross ₹100 crore in net profits last year, says Srivats Ram.
| Photo Credit: cueapi

Manufacturer of wheels for trucks, agricultural tractors, and passenger vehicles, Wheels India Ltd., has crossed the ₹100-crore mark in net profit for the financial year ending March 31, 2025, reporting ₹105.9 crore.

The city-based company had registered a net profit of ₹67.9 crore during the previous financial year.

For the January-March 2025 quarter, the company’s net profit remained flat at ₹36 crore, compared to ₹36.8 crore in the same quarter of the previous financial year.

Revenues for the year ending March 31, 2025, stood at ₹4,425 crore, down from ₹4,619 crore recorded in the year-ago period.

For the quarter under review, the company’s revenue grew to ₹1,195 crore from ₹1,167 crore earned during the same quarter last year.

Briefing reporters, Wheels India MD Srivats Ram said, “Our focus on cost control measures, a favourable product mix, and lower commodity prices led to strong profit growth in FY25, enabling us to cross ₹100 crore in net profits last year.” The decline in revenue for the financial year ending March 31, 2025, was due to a slowdown in exports during the second quarter, while the commercial vehicle industry also saw a downturn during the period, Ram said in response to a query.

Looking ahead, he said, “We have achieved a turnaround in profitability in our passenger car steel wheel subsidiary. There was marginal growth in topline with increased domestic sales driven by strong tractor wheel demand and export growth led by windmill components. We see some momentum in demand going forward.” Observing strong demand for the company’s air suspension business from both traditional players and new entrants in the EV bus industry, he added, “We may also see slightly higher growth in the trucks and passenger vehicles segments in the current financial year.” The Board of Directors has recommended a final dividend of ₹7.03 per share, subject to shareholders’ approval.