Date: October 29, 2026

Quarterly Financial Performance (Q2 FY2026 ended 30th September 2026)

Profitability:

  • Net Profit for Q2 FY2026 was Rs. 53.4 crores, a significant increase from Rs. 27.8 crores in the corresponding quarter of the previous year (Q2 FY2025).

Revenue:

  • Total Revenue for Q2 FY2026 grew by 36% to Rs. 1,598 crores, compared to Rs. 1,179 crores registered in the same period last year.
  • Export revenues were a key contributor, growing to Rs. 388 crores in Q2 FY2026 from Rs. 299 crores in the same quarter of last year.

Half-Yearly Financial Performance (H1 FY2026 ended 30th September 2026)

Profitability:

  • Net Profit for H1 FY2026 was Rs. 90.5 crores, up from Rs. 54.2 crores registered in H1 FY2026.

Revenue:

  • Total Revenue for H1 FY2026 increased by 26% to Rs. 2,984 crores, compared to Rs. 2,366 crores registered in H1 FY2026.

Fundraising and Capital Structure

  • The company raised a total of Rs. 430 crores in Q2 FY2026.
  • The fundraising was structured through two instruments: Rs. 180 crores was raised via a preferential issue and Rs. 250 crores was raised through a Qualified Institutions Placement (QIP).
  • The stated objective of this fundraising was debt reduction.
  • The entire process of fund raising and the subsequent debt reduction was completed by the end of September 2026.

Management Commentary

Performance Drivers (Q2 FY2026):

Srivats Ram, Chairman and Managing Director, attributed the strong sales growth in the second quarter to three key segments:

1. Earthmover wheels

2. Air suspension systems

3. The domestic Indian markets for cars, trucks, and tractors

Outlook (H2 FY2026):

Management provided a cautious outlook for the second half of the financial year, citing two primary concerns:

1. Inflation is a concern.

2. Growth will be affected by a higher base effect. This base effect is attributed to a GST 2.0 demand push that benefited the company in H2 of the previous financial year (H2 FY2025).

Business Description

Wheels India is described as a leading manufacturer of:

  • Wheels for trucks, agricultural tractors, passenger vehicles, and construction equipment.
  • Air suspension systems for trucks and buses.
  • Industrial components for the construction and windmill industry.

The company has manufacturing plants located in Tamil Nadu, Maharashtra, Uttar Pradesh, Uttarakhand, and Andhra Pradesh.

The announcement also includes background on the Trichur Santhanam Family (TSF) Group, noting that Wheels India is part of this group which has interests in automotive and financial services sectors with combined revenue of over Rs. 36,800 crore.