Wheels India signs technical agreement with South Korean firm for Hydraulics Cylinder business

Wheels India has signed a significant technical agreement with SHPAC, a leading hydraulics cylinder manufacturer in South Korea whereby there will be a technology transfer in manufacturing. Wheels India has identified hydraulic cylinders as one of the strategic growth areas and this pact is expected to drive its growth further in this segment.

Commenting on the Hydraulics Cylinder business, Srivats Ram, MD, Wheels India said, "It has been our stated intent to focus and grow the hydraulics cylinder business significantly over the next few years. We believe this business segment has potential to be an important growth driver for Wheels India globally, going forward. Wheels India, which is a leading manufacturer of wheels for the construction equipment global industry, has been expanding its presence in Europe and North America. We expect to leverage the technology transfer by accessing existing customers and will continue to invest in the hydraulic cylinder business as opportunities arise."

Specifically on the agreement, Srivats said, "SHPAC is a leading manufacturer of hydraulic cylinders in South Korea with a successful track record over the last few decades in this business exporting their products worldwide. Our technical technology transfer agreement with them is expected to create new growth opportunities for Wheels India in the global hydraulic cylinder industry and we expect this to give a fillip to our drive to grow this business over the next few years."

Last year, the company crossed the milestone of Rs. 100crores in Net Profit. For Q1 ended 30th June 2025, Wheels India registered Net Profit of Rs. 26.44crores on revenues of Rs. 1187crores with export revenues crossing the Rs. 300crores mark.

Wheels India is a leading manufacturer of wheels for trucks, agricultural tractors, passenger vehicles and construction equipment; air suspension systems for trucks and buses, and industrial components for the construction and windmill industry with manufacturing plants in Tamil Nadu, Maharashtra, Uttar Pradesh and Uttarakhand.

Shares of Wheels India Limited was last trading in BSE at Rs. 904.55 as compared to the previous close of Rs. 899.30. The total number of shares traded during the day was 17091 in over 1109 trades.

The stock hit an intraday high of Rs. 932.75 and intraday low of 895.00. The net turnover during the day was Rs. 15607891.00.

Source : Equity Bulls

Keywords

WheelsIndia INE715A01015 TechnicalAgreement SouthKoreanCompany HydraulicsCylinderBusiness