Wheels India Ltd, a manufacturer of wheels and automotive components, reported a 92% year-on-year increase in net profit to ₹53.4 crore for the second quarter of FY27, compared with ₹27.8 crore in the corresponding quarter of the previous financial year, supported by strong sales growth across key product segments and domestic markets.
Revenue from operations rose 36% to ₹1,598 crore in the July-September quarter, against ₹1,179 crore in Q2FY26.
Export revenue increased to ₹388 crore from ₹299 crore in the year-ago quarter, reflecting growth in the company’s overseas business alongside higher domestic demand.
Earthmover wheels and suspension drive growth
The strong quarterly performance was supported by sales growth in earthmover wheels and air suspension systems, as well as demand in the domestic passenger vehicle, truck and tractor markets.
“The second quarter saw strong sales growth coming from earthmover wheels, air suspension and the domestic Indian markets for cars, trucks and tractors,” said Wheels India Chairman and Managing Director Srivats Ram.
The company’s product portfolio includes wheels for commercial vehicles, agricultural tractors, passenger vehicles and construction equipment, along with air suspension systems for trucks and buses and industrial components for the construction and windmill industries.
H1 net profit rises 67%
For the first half of FY27, Wheels India’s net profit increased 67% to ₹90.5 crore from ₹54.2 crore in H1FY26.
Revenue for the six months ended September 30, 2026, grew 26% to ₹2,984 crore from ₹2,366 crore in the corresponding period of the previous financial year.
The company thus recorded stronger year-on-year growth in both revenue and profit during the first half, with the second quarter contributing significantly to the improvement.
₹430 crore raised for debt reduction
Wheels India completed a ₹430 crore fundraise by the end of September 2026 to reduce its debt.
The fundraising comprised ₹180 crore through a preferential issue and ₹250 crore through a qualified institutional placement (QIP). The company said the fundraising and associated debt reduction had been completed by the end of the quarter.
The capital-raising exercise is aimed at strengthening the company’s balance sheet by reducing debt.
Inflation, high base may weigh on H2 growth
Despite the strong first-half performance, the company expects inflationary pressures and a higher base of comparison to affect growth in the second half of FY27.
“Inflation is a concern. Growth will also be affected by a higher base effect arising out of GST 2.0 demand push that we benefited from in H2 last year,” Srivats Ram said.
The outlook points to a potentially more challenging operating environment in the coming quarters, even as the company benefits from demand across its automotive and industrial product segments.
Wheels India operates manufacturing facilities across Tamil Nadu, Maharashtra, Uttar Pradesh, Uttarakhand and Andhra Pradesh. It is part of the Trichur Santhanam Family (TSF) Group, whose interests span automotive manufacturing and financial services.