Wheels India Ltd Share Price

History of Wheels India Ltd

Wheels India Limited, promoted by the TVS Group Company was started in June, 1960 to manufacture automobile wheels. Company is among the world's largest manufacturers of steel, aluminum, and wire wheels. Since the establishment of the organization in 1960, it has consistently enhanced their engineering capabilities to build and deliver world-class products. It widened the portfolio through strategic diversification to offer bus and truck chassis, suspension products, hydraulic cylinders, custom-fabricated assemblies, and precision components for wind turbines. The Company manufactures wheels in technical and financial collaboration with Dunlop Holdings, UK, (35.91% equity stake). Now, it grew as a leading manufacturer of steel wheels for passenger cars, utility vehicles, trucks, buses, ...agricultural tractors and construction equipment in India. The company supplies 2/3rd of the domestic market requirement and exports 15% of the turnover to North America, Europe, Asia Pacific and South Africa The company has it plant located at Rampur in Uttar Pradesh, at Chennai in Tamil Nadu, at Kancheepuram in Tamilnadu amd at Pune in Maharashtra. The company also has a technical-financial collaboration with Titan Europe During 2003-04, the company commenced supplies of Air Suspension Kits toOEM Customers. During 2004-2005, the company obtained the TS 16949:2002 quality certification. The companies capacity for production of Wheels expanded from 7064000 Nos to 7100000 Nos during 2005-2006 In 2006, the Company started production of Bawal Plant in Haryana. In 2007, it opened Sriperumbudur Plant in Tamil Nadu. In 2009, it opened Pantnagar Plant in Uttarkhand; in 2010, it opened renewable energy components plant in Irungattukottai, Tamil Nadu. In 2012, it opened fabrication plant at Namachivayapuram, in Tamil Nadu. In 2021-22, The TVS Family came to an arrangement to align the ownership and management within different family groups. As a part of TVS Family arrangement, the Hon'ble National Company Law Tribunal (NCLT), vide its order dated December 06, 2021 approved the amalgamation of M/s Southern Roadways Pvt. Ltd. (SRPL) with M/s. T. V. Sundram Iyengar & Sons Pvt. Ltd. (TVSS), promoters of the Company. Consequent to approval of the Composite Scheme of Amalgamation / Arrangement, the holding of 71,43,656 equity shares, representing 29.69% were transferred to / vested in M/s. Trichur Sundaram Santhanam & Family Private Limited (TSSFPL), effective February 04, 2022. Further, SRPL ceased to be a Promoter of the Company effective January 06, 2022 and TSSFPL became Promoter of the Company, effective February 04, 2022. The Company commissioned a state-of-the-art Cast Aluminium Wheel Plant at Thervoy Kandigai, in Tamil Nadu in 2022. In FY 2022-23, M/s. Trichur Sundaram Santhanam & Family Private Limited (TSSFPL), one of the promoters of the Company increased their shareholding from 71,43,656 (29.69%) equity shares to 72,94,514 (30.31%) equity shares as on March 31, 2023. Also, M/s. Sundaram Finance Holdings Limited (SFHL), one of the promoters of the Company increased their shareholding from 56,01,117 (23.28%) equity shares to 57,40,117 (23.85%) equity shares as on March 31, 2023. M/s. Sundaram Hydraulics Limited (SHL) got merged with the Company during the year 2023-24, making the Scheme of Amalgamation effective from September 1, 2023. Company has incorporated a subsidiary, in USA in the name of WIL USA Inc in the State of Delaware, USA on January 26, 2024 in FY 2024-25.