Wheels India has chalked out a capex plan of Rs 225 crore for the current financial year. The autoparts maker seeks to ramp up capacity in its product segments to support the emerging demand.

The proposed capex is expected to be spent on machining large castings, aluminium wheels, earthmoving wheels, tractor wheels, and hydraulic cylinders, among other things.

The production capacity of aluminium wheels will be ramped up from 25,000 wheels a month now to 40,000 wheels a month this year. This came about during the 65th Annual General Meeting of the company.

The company's hydraulic cylinder business has grown and become profitable, post merger of Sundaram Hydraulics with Wheels India in FY24. The business supplying wheels to the construction equipment industry in the last FY saw with an increase in volumes with most customers.

In non-auto business, the windmill components segment could see ramp up of machining large windmill castings production. The mix of products would help it improve its revenue also.

Furthermore, the Rs 4,619 crore company’s export business grew considerably in FY24, in earthmover wheels and aluminium wheels.