Auto Parts company Wheels India announced Q4FY22 results: Q4 Net Profit up 9% at Rs. 27.8 crore Q4 Revenues up 29% at Rs.1101 crore Exports cross Rs. 1000 crore in FY22 Board recommends Dividend of Rs. 8.30 per share FY22 Net Profit at Rs. 79.8 crores The Company registered a net profit of Rs. 79.8 crore as compared to Rs 6.7 crore registered in FY21. Revenues for FY22 went up 67% to Rs.3686.7 crore. Commenting on the performance, Srivats Ram, MD, Wheels India said, "Revenue growth was driven by successive quarters of export growth where we crossed a significant milestone of Rs. 1000 crore for the year." On the outlook for the year, Srivats said, "We expect the positive trend in the CV segment seen in Q4 of FY22 to continue this year, benefitting both our wheel and suspension business. While the demand outlook is positive, there continues to be industrial inflation. The positive trend of export growth is likely to continue this year." Result PDF
Auto Parts & Equipment company Wheels India declares Q3FY22 result: Wheels India Q3 Net Profit up 72% at Rs. 20.6 crores Wheels India has registered a 72% rise in its Net Profit for the Q3 ended 31t December 2021 at Rs. 20.60 crores as compared to Rs.12 crores registered in the corresponding quarter of the previous year. Revenues for Q3 ended 31 December 2021 went up 57% to Rs.1007.18 crores as compared to Rs. 641.74 crores registered in Q3 ended 31st December 2020. Contribution from exports continued to rise and stood at just over 26% of the overall sales at the end of Q3. Commenting on the performance, Srivats Ram, MD, Wheels India Ltd., said "the company has had the fifth sequential quarter of growth in exports, with good growth in Q3 exports across segments. We expect the growth trend in exports to continue. On the domestic front, while the Tractor and CV segment saw a slowdown in November and December, we expect the CV business to improve in Q4." Result PDF
Conference Call with Wheels India Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Highlights: Wheels India Q2 Net Profit up 186% at Rs. 21.2 crores Revenues up 78% at Rs. 911.2 crores Half Year Net Profit at Rs.31.3 crores Revenues for the half year: Rs. 1585.8 crores Commenting on the performance, Srivats Ram, MD, Wheels India Ltd., said “The quarterly sales growth on a year on year basis was across all industry segments. The growth in the export business was strong in the construction equipment, agricultural equipment and windmill industries. This trend, in terms of growth of exports, is likely to sustain.” On the outlook, Srivats said, “There is some sign of improvement in the commercial vehicle segment from a low base in the previous year. Export schedules are not affected by the semiconductor shortages, as the segments the Company serves are not affected by this. The Company is making further investments to service export requirements in the coming year. There is a concern that rising commodity prices continue to be a challenge.” Result PDF