Wheels India eyes growth in Europe with new subsidiary: Official

Wheels India Ltd on Tuesday said its decision to establish a subsidiary in Europe is aimed at driving business growth in the region over the next three to five years.

In July, the company announced plans to set up a European arm with a share capital of 50,000 Euros to support its expansion strategy and strengthen customer engagement in the region.

Commenting on the move, Wheels India Managing Director Srivats Ram said, ''The subsidiaries in the United States and Europe are part of our long-term strategy to focus on and leverage opportunities in these two geographies, across both auto and non-auto segments.'' ''While we already have customers in these markets, we believe a local presence will enable us to better meet their requirements and build a foundation for sustained growth over the next 3-5 years,'' he said in a press release.

Earlier in the day, the Chennai-based manufacturer reported a 4 per cent increase in net profit for the April-June 2025 quarter at Rs 26.44 crore, up from Rs 25.37 crore in the same period last year. The growth was driven by increased demand across product segments.

Looking ahead, Ram expressed optimism about domestic demand, particularly in the agricultural sector. ''We expect strong tractor demand this year, supported by the forecast of a good monsoon,'' he said.

On the exports front, he noted, ''Given the headwinds related to US tariffs, we will have to wait and watch how the situation evolves in the short term. However, we remain positive about export growth prospects in the long run.'' Wheels India currently operates manufacturing facilities across Tamil Nadu, Maharashtra, Uttar Pradesh, and Uttarakhand.

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