Wheels India Q2 standalone net rises fourfold to ₹21.92 cr.

Wheels India Ltd. (WIL) reports fourfold rise in Q2 profit, expects export revival, maintains capex for growth.

Wheels India Ltd. (WIL) reported standalone net profit for the September quarter rose fourfold from the year-earlier period to ₹21.92 crore. Last year, the Q2 profit was impacted due to one-off expenses pertaining to pre-delivery inspection charges.

Revenue from operations contracted to ₹1,085 crore from ₹1,189 crore. Export revenue was down by ₹50 crore to ₹258 crore due to slowdown in the U.S. and EU and WIL expects a revival in exports in the next two quarters, MD Srivats Ram told the media.

On the profit growth, he said: “A favorable product mix, notably increase in machining of windmill castings, productivity improvements and cost control measures have resulted in a good growth in profit for the second quarter in succession. These measures will continue into the second half and we are hopeful of maintaining the profit growth in this trajectory, in the current year.”

Talking about the a decline in revenues, he said there was a drop in commercial vehicles and tractor wheel requirements in Q2. There has been a significant drop in lift air suspension systems business for trucks as there is a move away from multi-axle vehicles towards trailers, in the market.”

Mr. Ram said that a slowdown in the U.S. and EU resulted in cut in schedules and a delay in introduction of new products as customers had to wait to exhaust stocks.

“While there will be a reduction in exports this year, we expect that the new products that come into play in FY26 will ensure growth in exports in the next year,” he said.

Asserting that there will not any cut in the planned capex of ₹225 crore for this fiscal, he said that a large part of it would go into expansion of capacity in windmill castings, aluminium casting and hydraulics. WIL will invest in areas where it sees growth opportunities. It is also investing in agri-tractor segment.