Wheels India (WHEELS) Investor presentation summary

Diversified business and footprint

• FY26 revenue: automotive 4,526.42 Cr (83% of revenue; segment ROCE 25.3%) and industrial products 938.52 Cr (17%; segment ROCE 6.8%).

• Automotive products span passenger, commercial, tractor and off-highway wheels, forged and cast aluminium wheels, air suspension and lift axles; industrial products include hydraulic cylinders and wind and other industrial components.

• Export revenue rose from 1,119.16 Cr in FY24 to 1,341.94 Cr in FY26; Q1 FY27 exports were 379.74 Cr versus 323.66 Cr in Q1 FY26, with customers across 27 countries.

• Manufacturing footprint includes 7 facilities and a NABL-accredited laboratory; the presentation cites 9,000+ employees.

Market position and growth

• FY26 revenue and YoY growth: passenger vehicles 895 Cr and 12%; commercial vehicles 1,016 Cr and 13%; tractors 873 Cr and 21%; alloy wheels 371 Cr and 5%.

• Construction and mining equipment wheels generated FY26 revenue of 817 Cr, up from 705 Cr in FY25.

• Air suspension and lift axles generated FY26 revenue of 556 Cr, up 31% YoY; WILRIDE air suspension is used on 100,000+ buses, supported by 25 service centres and 240 outlets.

• Wind turbine and other industrial components generated FY26 revenue of 738 Cr; hydraulic cylinder revenue rose from 163 Cr in FY24 to 200 Cr in FY26.

Engineering and financial performance

• R&D expenditure was 38.51 Cr in FY26, equal to 0.76% of turnover; capabilities include 100+ engineers and technicians, 50+ international patents and 252+ development projects.

• Revenue from operations rose from 4,744 Cr in FY24 to 5,465 Cr in FY26; EBITDA increased from 282 Cr to 444 Cr and EBITDA margin from 5.7% to 8.1%.

• PAT increased from 59 Cr in FY24 to 158 Cr in FY26; ROCE was 16.4% and ROE 13.2% in FY26.

• Q1 FY27 revenue was 1,491 Cr versus 1,266 Cr in Q1 FY26; EBITDA was 116 Cr versus 98 Cr, and PAT was 39 Cr versus 31 Cr.