Auto Parts & Equipment firm Wheels India announced Q4FY23 & FY23 results: Net profit of Rs 24.8 crore for the Q4FY23 as compared to Rs 27.9 crore registered in the corresponding Q4FY22 Revenues for Q4FY23 went up 6% to Rs 1,169.2 crore as compared to Rs 1,101.3 crore registered in the Q4FY22. The Board of Wheels India has recommended a final dividend of Rs 3.97 per share. The company had in January 2023 declared an interim dividend of Rs 3 per share for FY23. Net profit of Rs 65.2 crore for FY23 as compared to Rs 79.8 crore registered in the same period the previous year. Revenues for FY23 went up 18% to Rs 4,332.1 crore as compared to Rs 3,686.7 crore in FY22. Commenting on the performance, Srivats Ram, MD, Wheels India said, “We registered significant growth in Air Suspension Division during FY 2023. The CV and Earth Mover Wheel business also did well in FY23. Machining of large castings which was commissioned in September 2022 was ramped-up towards the end of FY 2023.” On the outlook, Srivats said, “Despite the uncertain global environment, exports are showing positive signs. We are confident that strong relationship with customers will ensure export growth this year.” Result PDF
Auto parts & equipment firm Wheels India announced Q3FY23 results: Q3FY23: Net profit of Rs 14.54 crore for Q3FY23. The company registered a net profit of Rs 20.60 crore for the same period last year. Revenues for Q3FY23 increased by 1% to Rs 1,016.58 crores from Rs 1,007.18 crore registered in the corresponding quarter of the previous year. Air suspension and the fabrication business have grown by 120% and 102% respectively in Q3. 9MFY23: Wheels India registered a net profit of Rs 40.34 crore as compared to Rs 51.93 crore for the same period of the previous year. Revenues for 9MFY23, went up by 23% to Rs 3,182.50 crore as compared to Rs 2,593.01 crore registered in 9MFY22. Commenting on the performance, Srivats Ram, MD, Wheels India Ltd, said, “There has been strong growth of our air suspension orders servicing regular and EV buses, which helped us offset the slowdown in exports.” Result PDF
Auto Parts & Equipment company Wheels India announced Q2FY23 results: Wheels India Q2 Net Profit at Rs. 15.14 crore. Revenues up 22 % at Rs. 1,109.2 crores Wheels India registered a Net Profit of Rs. 25.8 crores as compared to Rs. 31.3 crores in H1FY23 H1FY23 Revenues are up 37% at Rs. 2,166 crores as compared to Rs.1586 crores registered in H1FY23 Commenting on the performance, Srivats Ram, MD, Wheels India Ltd., said, “The revenue growth was driven by a good recovery in the domestic CV market. Exports have been impacted especially in retail segments in the US & EU.” On the outlook, Srivats said, “We expect Air Suspension business to do well in the second half on the back of the recovery in the bus segment. It is expected that Q4 revenues will be decent across segments.” Result PDF