Expanding Horizons: Wheels India Boosts European Presence with New Subsidiary

Wheels India Ltd, known for manufacturing steel and cast iron wheels, announced an investment of 50,000 euros into its newly formed subsidiary, WIL Europe GmbH. The Chennai-based company revealed this strategic move in a regulatory filing on Sunday.

WIL Europe GmbH, still in the process of formation, marks Wheels India's efforts to expand its business activities in Europe. The subsidiary will focus on automotive and non-automotive services, including supply chain management and related services.

This financial commitment comes as part of Wheels India's broader strategy, which includes a capital expenditure of Rs 250 crore for the current fiscal year, largely directed towards manufacturing windmill components. For the year ending March 31, 2025, Wheels India reported a net profit of Rs 105.9 crore, up from Rs 67.9 crore the previous year.

(With inputs from agencies.)