Wheels India Q2 net profit nearly doubles to Rs 53.4 crore
Chennai-based auto components maker Wheels India Ltd reported a 92% year-on-year jump in net profit to Rs 53.4 crore for Q2 ended September 30, 2026, compared to Rs 27.8 crore last year. Revenue grew 36% to Rs 1,598 crore from Rs 1,179 crore.
Exports rose 30% YoY to Rs 388 crore in the September quarter, with the US emerging as a key growth driver. Sales to the US increased by an estimated 50%, Chairman and Managing Director Srivats Ram said.
The growth was driven by strong demand for earthmover wheels, which are largely exported, and air suspension systems used in Indian buses. Domestic demand for car, truck and tractor wheels also remained strong.
The company has also benefited indirectly from the US data-centre construction boom, which has boosted demand for construction equipment.
For H1 FY27, net profit rose 67% to Rs 90.5 crore from Rs 54.2 crore, while revenue grew 26% to Rs 2,984 crore.
On capex, Wheels India plans to spend Rs 400–450 crore in FY27, significantly higher than its annual spending of around Rs 250 crore over the past couple of years.”In July, we said Rs 300 crores. But, every board meeting subsequently, including the one that was concluded today, we have asked for additional CapEx,” Ram said during the earnings call, citing strong customer demand and need to expand capacity.
The company raised Rs 430 crore during the quarter through a Rs 180-crore preferential issue and a Rs 250-crore QIP, primarily to reduce debt. The proceeds were used to repay working-capital borrowings by end-September, with lower interest costs expected to reflect from the December quarter.
