Auto Parts & Equipment company Wheels India announced Q3FY25 results Q3FY25 Financial Highlights: Net Profit for Q3FY25 at Rs 22.57 crore compared to Rs 12.58 crore registered in Q3FY24. Revenues of Rs 1,058 crore for Q3FY25 as compared to Rs 1,131 crore in Q3FY24. Srivats Ram, MD, Wheels India, said: “In terms of the strong profit growth in Q3, we continued to be benefitted by lower raw material prices, favorable product mix and productivity & cost improvements.” “We expect the domestic demand to improve in the CV wheel segment in Q4. While our exports have fallen this year due to cyclicity in off-road product ranges, we hope to grow our exports in the coming year, through new product programs” Result PDF
Auto Parts & Equipment company Wheels India announced Q2FY25 results Net Profit for the Q2FY25 at Rs 21.92 crore as compared to Rs 5.24 crore registered in the Q2FY24. Revenues of Rs 1,085 crore for the Q2FY25 as compared to Rs 1,189 crore registered in the Q2FY24. Srivats Ram, MD, Wheels India 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.” “There was a drop in CV 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 in the market away from multi-axle vehicles and towards trailers. On exports as we had indicated earlier, the slowdown in the US and EU has not only resulted in cut in schedules but also 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.” “We are hopeful that CV, tractor and aluminum wheels will pick up in Q4.” Result PDF
Auto Parts & Equipments company Wheels India announced Q1FY25 results: Wheels India has registered an increase in its net profit at Rs 25.37 crore for the Q1 ended 30th June 2024 as compared to Rs 13.22 crore registered in the comparative quarter of the previous year. Gross Revenues for Q1 ended 30th June 2024 stood at Rs 1,088.20 crore as compared to Rs 1,133.02 crore registered in the Q1 ended 30th June 2023. Commenting on the performance, Srivats Ram, MD, Wheels India said, “A change in product mix, our increased focus on cost control, and some improvement in the CV business has contributed to the strong profit growth in Q1.” On the immediate growth prospects, Srivats said, “While the overall growth prospects on domestic and export business are muted, we expect the hydraulic cylinder business and cast aluminium wheel business to grow in the second half of the year.” Result PDF
Auto Parts & Equipment company Wheels India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: The company registered a 64.3% rise in its Net Profit for Q4FY24 at Rs 36.8 crore compared to Rs 22.4 crore registered in the corresponding quarter of the previous year. The company registered revenues of Rs 1,167 crore for Q4FY24 compared to Rs 1,172 crore in the Q4FY23 FY24 Financial Highlights: The net profit for the FY24 was up 8.6% at Rs 67.9 crore as compared to Rs 62.5 crore registered in the previous year ended 31st March 2023. Revenues for the FY24 increased 6.3% to Rs 4,619 crore compared to Rs 4,345 crore registered in the previous year ended 31st March 2023. The Board of the Company has recommended a dividend of Rs 7.39 per share. Commenting on the performance, Srivats Ram, MD, Wheels India, said, “Exports did well for us in FY24 registering a 24.5% growth. Earthmover wheels, aluminium wheels and hydraulic cylinders were the prime drivers of growth on the export front. The company’s air suspension business did well along with growth in the bus market” On the newer segments for Wheels India, Srivats said “We have been able to profitably ramp up machining of windmill castings and will continue to grow this. Another area with a lot of promise for growth, both in the domestic and export markets, is hydraulic cylinders.” On the Outlook, Srivats said, “We are cautiously optimistic about the prospects for FY25. New programmes with global customers are likely to begin in Q4 of this year.” Result PDF