Indian products in the wheel export segment are in strong demand in the international market, especially construction wheels and forged aluminum wheels with an export value of Rs. 6.1 billion.

Chennai:Chennai-based auto component maker Wheelss India, which is part of the 85 TVS worth $100 million group, will start production of 14,000 cars near Chennai, Chairman S Ram said at the company’s annual general meeting today. Export market.

The company has also invested in modernizing its plants. As the domestic market begins to slow down, Wheels India is strengthening its presence in the export market,” Wheels India said in a press release. “With few exceptions, all sectors from passenger cars to commercial vehicles have been affected. “Light commercial vehicles, light commercial vehicles and utility vehicles have shown reasonable growth in the last fiscal. We are hopeful that the sentiment in the rural market improves after the normal monsoon, which will increase our preference for these vehicles,” Ram said.” The plea for a regular AGM continues. ‘

The company expects the windmill business, which supplies components to wind turbine manufacturers, to continue to grow. The domestic business is expected to continue to grow and new exports are also expected to increase. Good results are also expected in other business areas such as supply of bogies for Indian Railways and air suspension systems for buses. Wheels India also plans to offer product testing services at its testing facility to test its own products.

The international market has witnessed a strong demand for Wheels India’s products in the export sector with exports of Rs. 6.1 billion, especially construction wheels and forged aluminum wheels.

Wheels India operating profit declined to Rs. 7.12 billion from Rs. 7.462 billion in the June quarter. Net profit declined by 55% to Rs 116.2 crore.

Despite the positive export outlook, Lim said the company faced a “difficult year” due to an overall slowdown in demand for commercial vehicles, construction equipment and mining trucks. Lin said, “Given these challenges, we will focus on reducing costs and streamlining our internal operations.”