Wheels India has earmarked a capital budget of INR 200 crore for the current financial year. This significant investment is aimed at enhancing their offload tractor, fabrication, and machining capacity for cast aluminium sections used in windmill castings. This move highlights Wheels India's commitment to advancing its manufacturing capabilities and staying competitive in the aluminium industry.
As a prominent manufacturer of steel and aluminium wheels for trucks, agricultural tractors, passenger vehicles, and construction machinery, Wheels India projects a positive outlook for FY25. The company's strategic investments are expected to drive growth and improve operational efficiencies, aligning with the global shift towards sustainable manufacturing practices.
In FY24, Wheels India experienced robust export growth of 24.5%, fueled by strong performance in key markets, including the US. Additionally, the company has seen notable growth in the water sector, contributing to its overall profitability.
Looking ahead, Wheels India plans to launch new programs with global customers in the fourth quarter of this year. These initiatives are expected to further enhance their market presence and drive sustained growth in the aluminium sector. The company's proactive approach to customer engagement and innovation is set to strengthen its position as a leading player in the industry. If you wish to learn more about the aluminium industry at large, have a look at AL Circle's special report, Global Aluminium Industry Key Trends to 2030.
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