Wheels India Ltd. professes heavy growth in the aluminium wheel sector in 2022

On Thursday, Wheels India Ltd. authorities made it absolutely known that the demand for cast aluminium wheels will vehemently increase this year. The company produces wheels for use in the automobile industry.

Wheels India Ltd. was able to approach the landmark of Rs.1,000 crores through exports the previous year. The Chairman, S Ram addressed the shareholders of the company at the 63rd annual general body meeting and assured them that a primary framework had been laid to harvest the exports department, with growing customer bases in the upcoming years.

Wheels India has successfully heightened its manufacturing rate of forged aluminium wheels to be sold in the United States and Europe, according to Chairman S Ram.

Chairman of Wheels India, S Ram in his own words, illustrated: "Last year, we saw the first full year of production of cast aluminium wheels from the new plant at Thervoy Kandigai (near Chennai). The wheels are sold to the largest aftermarket distributor of cast aluminium wheels in the world. The demand is expected to grow this year.”

Last year the company recorded a rigid awakening around the construction equipment sector as the world economy was coming back to its former glory gradually after the Covid-19 risks had subsided, Ram added.

Though at present, Europe is suffering from an energy crisis for the inactive wind-mill generation camps and the prevailing Russia-Ukraine dilemma, the chairman seemed hopeful about the company’s prospects abroad. He vouched that this crisis situation in Europe might have potential for Wheels India to expand its customer bases.

The pandemic had halted the growth of the company for two years but as soon as the restrictions were removed, Wheels India started witnessing rising demand for small, light, intermediate and heavy commercial transport along with substantial growth in the commercial vehicle market.

S Ram also notified that the automobile industry must witness an enhancement this year with ‘moderation commodity inflation’ and ‘improving availability’ of components, he stated.

After complete attestation by the board, Sundaram Hydraulics has collaborated with Wheels India and chairman S ram now claims that the former would be blessed with the latter's connections to remain entangled in a solid bond with the customers.