May 31 2018 | India Opportunities

Wheels India plans capex of Rs 122 crore to meet surge in demand

Wheels India Ltd (WIL) has proposed capex of Rs 122 crore to be used for enhancing capacity in both auto and non-auto segments. The overall capacity is likely to go up by 20 per cent from the current count of 10 million wheels per year. Srivats Ram, Managing Director has said the company is facing capacity constraint due to surge in demand. The company reported a 23 per cent increase in its net profit Rs. 71.8 crore for FY2017-18.