Wheels India posts Q4 net of ₹25.5-cr. as revenue rises 57%

MD Srivats Ram sees demand for tractors remaining stable

Auto parts maker Wheels India on Friday reported a standalone fourth-quarter net profit of ₹25.54 crore, as against a profit of ₹4.62 crore in the year-earlier period, and said it expects demand for tractors to be stable as all the major factors driving rural demand continue to remain strong despite the second wave of the pandemic. “If the rural side gets hit, definitely there will be an impact [on tractor sales] but if you look at all the factors that drive demand, they are still very strong,” Srivats Ram, MD, Wheels India said. “The MSPs [minimum support prices] are strong, the water levels are fairly good, there is an expectation of good to normal monsoon, finance availability is there for the segment,” he said. “So, given all these factors we believe that demand for tractors will continue to at least be stable if not strong,” he added.