Chennai headquartered leading Steel Wheels Manufacturer, Wheels India Ltd has registered a net profit ofRs. 40.7Cr for the first half year ended 30thS eptember 2018 as compared to Rs. 39.4 Cr registered in the corresponding period last year. Revenues for the first half year ended 30th September 2018 increased to Rs.1542.1 cr as compared to Rs. 1216.3 cr in the corresponding period last year, registering a growth of 27%.
Over 60% of the Company’s revenues come from the automotive wheels for Commercial Vehicles, Cars, and Agricultural Tractors, while the balance comes from Wheels/Components for Construction & Mining Equipment, Air Suspension for Commercial Vehicles and Components for Energy Equipment.
Q2 Net Profit at Rs. 22.7cr
Wheels India registered a Net Profit of Rs. 22.7Cr for Q2 ended 30th September 2018 as compared to Rs. 26.4 Cr registered in the corresponding period last year. The profits of Q2 of last year (July- Sept 2017) included an exceptional item – profit on slump sale of its passenger car steel wheel business to its subsidiary WIL Car Wheels Ltd.
Revenues for Q2 ended 30th September 2018 increased to Rs. 795.8 Cr as compared to Rs 604.8 Cr in the corresponding period last year, registering a growth of 32%.
About Wheels India Ltd
Wheels India Ltd., is a leading manufacturer of steel wheels for trucks, buses, utility vehicles, passenger cars, agricultural tractors and construction equipment. The Company has manufacturing plants at 5 locations with a combined overall annual capacity of 10 million wheels. Wheels India has a diversified customer base with over 40 customers globally. While around 80% of the Company’s business comes from the domestic Indian market, the company exports wheels for off-road construction equipment and agricultural applications to Japan, Korea, US, Brazil, Europe and the UK.