Wheels India to invest Rs 41 crore in windmill parts business

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CHENNAI: Wheels India is planning to invest Rs 41 crore in its wind mill business as part of the Rs 72 crore capex lined up for the second half of this financial year.
“The windmill capex will happen in the latter part of Q4. We make 85 mass volume parts for windmill majors and we supply both domestically and globally to top companies like Vestas, Siemens Gamesa, Nordex and GE. Our exports go to Europe, North America, Brazil and to a small extent China,” said Srivats Ram, MD, Wheels India.
The windmill segment in particular and the industrial segment in general has done well for Wheels India. “Almost 20% of revenue in the first six months has come from the industrial components division like railways and windmill parts and there has been very strong demand for our windmill products even during lockdown,” said Ram. “We expect this to continue in H2 as well,” he added.
Wheels India earned a net profit of Rs 7.4 crore for the Q2 of FY20-21 on revenues of Rs 28.7 crore.



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