Chennai-based Wheels India, part of the TSF Group, strengthened its focus on innovation during FY26 by securing 26 new design patents, taking its total patent portfolio to 125. It increased its research and development expenditure to 0.76 per cent of turnover in FY26 from 0.53 per cent in the previous year, according to Chairman and Managing Director Srivats Ram’s message in the 2025-26 annual report.
As part of its product development efforts, Wheels India introduced new styles of flex wheels in multiple sizes for passenger car applications. The technology is expected to enable the company to offer both steel and alloy wheels with enhanced designs.
Wheels India has planned capital expenditure of more than ₹280 crore in FY27, higher than the approximately ₹260 crore invested in the previous year.
For FY26, the company reported a net profit of ₹139 crore on revenues of ₹5,124 crore.
Wheels India operates 14 manufacturing plants across India, including two wheel and tyre assembly facilities, catering to commercial vehicles (CVs), passenger vehicles (PVs), tractors and construction equipment manufacturers. Its customer base spans India, the US, Japan, Europe, Korea, Brazil, the UK and Mexico.
The company said business conditions improved during FY26, aided by GST 2.0 reforms and stronger rural incomes, which boosted demand across PVs, CVs and agricultural tractors. All three segments recorded growth of over 10 per cent during the year.
On the export front, Wheels India said it remained cautiously optimistic despite tariff-related disruptions. Strong demand from the US market supported growth in its wheels, structural fabrication and hydraulic cylinder businesses. The company expects export growth to continue, backed by new business under development across segments.
In the wind energy segment, Wheels India expanded supplies of fabricated and machined components to offshore wind turbine manufacturers globally and plans to widen its customer base further during the current year.
The company, however, flagged risks arising from geopolitical tensions in West Asia, including potential supply-chain disruptions and higher commodity and energy prices. It said operational efficiencies would remain a key focus area to mitigate these challenges.
Published on June 9, 2026
