September 29, 2025 — Wheels India Limited has entered into a technical agreement with SHPAC, a leading hydraulic cylinder manufacturer from South Korea. The deal involves technology transfer that will strengthen Wheels India’s presence in the global hydraulics market.
The company has identified hydraulic cylinders as a key growth area. With this agreement, Wheels India aims to expand its customer base, especially in Europe and North America, while also investing further in this business.
Commenting on the development, Srivats Ram, Managing Director of Wheels India, said:
“We see hydraulic cylinders as a major growth driver for the company in the coming years. Partnering with SHPAC, which has decades of global experience in this space, will open new opportunities and boost our international expansion.”
Wheels India has already been growing steadily. In the first quarter ended June 30, 2025, the company reported a net profit of ₹26.44 crore on revenues of ₹1,187 crore, with exports crossing the ₹300 crore mark. Last year, it crossed the milestone of ₹100 crore net profit.
Wheels India is part of the TSF (Trichur Santhanam Family) Group, which has a strong presence in automotive and financial services. The group, tracing its roots back to 1936, has revenues of over ₹26,000 crore, 42,000 employees, and 36 factories.
The company manufactures wheels for trucks, tractors, passenger cars, and construction equipment, along with air suspension systems and industrial components for construction and wind energy industries. Its plants are spread across Tamil Nadu, Maharashtra, Uttar Pradesh, and Uttarakhand.
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