Wheels India plans Rs 100 cr capex in FY22 for wind energy sector

26 May 2021 CW Team

Steel wheels maker Wheels India is planning to invest Rs 100 crore in the wind energy segment in FY22.

Srivats Ram, Managing Director, Wheels India told the media that the city-based company would consider investing a good portion for the second phase of the cast aluminium plant.

He also said that they currently have built up a capacity for 3.50 lakh wheels and would be taking it up to 7.50 lakh wheels. A capital expenditure of Rs 100 crore is being planned by Wheels India that would enter the wind segment to set up a new plant in Thervoy Kandigai near Chennai.

Wheels India has announced its financial performance for the quarter and year ending March 31, 2021.

Compared to Rs 4.6 crore in the same period last year, the company under review registered a net profit of Rs 25.5 crore for the quarter.

Revenues registered during the quarter developed to Rs 853.3 crore compared to Rs 544.7 crore registered during the corresponding period last fiscal. A dividend of Re one per share has been recommended by the board.

Net profits remained at Rs 6.7 crore for the financial year ending March 31, 2021, compared to Rs 54.1 crore registered in the same period last fiscal. Revenues reported for the year ending March 31, 2021, remained at Rs 2,215.50 crore, as against Rs 2,438.70 crore within the corresponding period last year. The company told the media that it began the first shipment of cast aluminium wheels to the US from its facility near Chennai during the third quarter of last year.

Ram told the media on the financial performance that there was strong demand in the latter part of the year with a recovery in most of their business segments by the fourth quarter, while the first quarter of last year was a washout due to the national lockdown.

He also said that they saw growth in export business, while the domestic tractor business showed strong growth within the last three quarters in FY22.

Image Source

Also read: Rajasthan govt attracts RE investments over Rs 167,000 cr

Also read: Renewable energy: IEA notes record RE capacity addition in India

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Steel wheels maker Wheels India is planning to invest Rs 100 crore in the wind energy segment in FY22. Srivats Ram, Managing Director, Wheels India told the media that the city-based company would consider investing a good portion for the second phase of the cast aluminium plant. He also said that they currently have built up a capacity for 3.50 lakh wheels and would be taking it up to 7.50 lakh wheels. A capital expenditure of Rs 100 crore is being planned by Wheels India that would enter the wind segment to set up a new plant in Thervoy Kandigai near Chennai. Wheels India has announced its financial performance for the quarter and year ending March 31, 2021. Compared to Rs 4.6 crore in the same period last year, the company under review registered a net profit of Rs 25.5 crore for the quarter. Revenues registered during the quarter developed to Rs 853.3 crore compared to Rs 544.7 crore registered during the corresponding period last fiscal. A dividend of Re one per share has been recommended by the board. Net profits remained at Rs 6.7 crore for the financial year ending March 31, 2021, compared to Rs 54.1 crore registered in the same period last fiscal. Revenues reported for the year ending March 31, 2021, remained at Rs 2,215.50 crore, as against Rs 2,438.70 crore within the corresponding period last year. The company told the media that it began the first shipment of cast aluminium wheels to the US from its facility near Chennai during the third quarter of last year. Ram told the media on the financial performance that there was strong demand in the latter part of the year with a recovery in most of their business segments by the fourth quarter, while the first quarter of last year was a washout due to the national lockdown. He also said that they saw growth in export business, while the domestic tractor business showed strong growth within the last three quarters in FY22. Image SourceAlso read: Rajasthan govt attracts RE investments over Rs 167,000 cr Also read: Renewable energy: IEA notes record RE capacity addition in India

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..