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

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

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..