Wheels India has entered into a technical agreement with South Korean hydraulics cylinder manufacturer SHPAC to enable technology transfer in hydraulic cylinder production. The move is aimed at expanding Wheels India’s operations in the hydraulic cylinder segment.
“It has been our stated intent to focus and grow the hydraulics cylinder business significantly over the next few years. We believe this business segment has potential to be an important growth driver for Wheels India globally, going forward. Our technical technology transfer agreement with [SHPAC] is expected to create new growth opportunities for Wheels India in the global hydraulic cylinder industry and we expect this to give a fillip to our drive to grow this business over the next few years,” said Srivats Ram, MD of Wheels India.
In the financial year prior, Wheels India reported a net profit exceeding INR 1 billion. For the quarter ended 30 June 2025, the company recorded a net profit of INR 264.4 million on revenues of INR 11.87 billion, with export revenues surpassing INR 3 billion.
Wheels India manufactures wheels for trucks, agricultural tractors, passenger vehicles, and construction equipment. The company also produces air suspension systems for trucks and buses, and industrial components for construction and windmill industries, with manufacturing facilities in Tamil Nadu, Maharashtra, Uttar Pradesh, and Uttarakhand.
The company is part of the TSF (Trichur Santhanam Family) Group, which has interests in automotive and financial services sectors. The group has combined revenues exceeding INR 260 billion, operates 36 factories, 1,200 branches, and employs around 42,000 people. In automotive, it is involved in component manufacturing, parts distribution, vehicle dealerships, and vehicle financing, while its financial services operations include automotive lending, general insurance, housing loans, and asset management.