Wheels India (WIL) has earmarked an investment of Rs 200 crore in FY24, a huge jump from the last year’s capex investment of Rs 143 crore.
The Rs 200 crore of capex will be used for ramping up production and expansion focused on commercial vehicles, tractors, aluminium wheels, and windmills machining segments.
With increased government investment in the infrastructure and increasing demand for commercial vehicles, the capex will aid in bolstering the company’s growth plans.
The organisation is positive about growth in the cast aluminium wheels business. it is fortifying itself for supplying to its global customers which are primarily vehicle makers.
WIL is looking to clock single-digit growth while exports may see double-digit growth.