MoneyWorks4Me

Wheels India to shut down operations at Pantnagar plant

07 Nov 2017 Evaluate

Wheels India has decided to close down its operations at Pantnagar. This unit has contributed Rs 198.90 crore, which is 9.10 per cent of the total turnover in 2016-17. The unit will be closed before the end of 2017-18.

Meanwhile, the company has formed a JV with Japan-based Topy Industries to set up a plant Gujarat.

Wheels India is company promoted by the TVS Group, India’s largest auto component manufacturers. It is one of the largest steel wheel manufacturers in the world.

Peers
Company Name CMP
SamvardhanaMotherson 163.65
Tube Investments 2588.85
Bosch 47904.00
UNO Minda 1230.25
Bombay Burmah Trdg. 1462.50
View more..