Wheels India is planning to invest around Rs 70 crore in FY16. The company will invest this amount for a range of initiatives including new product development, expanding capacity of forged aluminium wheels for exports and automation for cost efficiency.
The company, which reported a growth of nine percent in revenue to Rs 1,980 crore in 2014-15, expects to grow in single digit. However, it hopes the bottom-line would be better in 2015-16 and this would be achieved through product mix change and cost cutting measures.
Wheels India has grown as a leading manufacturer of steel wheels for passenger cars, utility vehicles, trucks, buses, agricultural tractors and construction equipment in India.
