Wheels India Limited · NSE:WHEELS
Wheels India — Q2 FY27 Earnings Presentation
25 slides from Wheels India's earnings presentation, October 2026
Slide 1: Wheels India Limited Investor Presentation Q2 FY27
Wheels India Limited Investor Presentation Q2 FY27 111
Slide 2: TSF Group Overview
TSF Group Overview • Companies part of the T S Santhanam family with lineage from the erstwhile TVS Group ~$3.9 Bn. Consolidated • Diversified portfolio across Auto components, Turnover FY26 Dealerships & Distribution and Financial services 1936 Since 15 • Global supply chain partner with strong 36+
Slide 3: TSF Group Companies
TSF Group Companies TSF Group Auto Components Auto Distribution & Dealerships Finance and Insurance Brakes India Sundaram Finance India Motor Parts & Accessories Wheels India Limited Royal Sundaram General Insurance Turbo Energy Sundaram Motors Sundaram Home Finance Axles India Madras Auto Sundaram
Slide 4: Promoters & Value system of TSF
Promoters & Value system of TSF ▪ Wheels India Limited (WIL) is part of the TSF Group and was established in 1960. ▪ WIL is a listed Company, wherein Promoters hold 56.86 % of the equity capital. ▪ Value systems of WIL are Relationships, Integrity, Customer Centricity and Excellence. 4
Slide 5: Wheels India Ltd - Company Profile
Wheels India Ltd - Company Profile Tractor & Earth mover wheels Automotive - Steel & Aluminium Wheels 1960 Establishment Components for Wind Turbines Air suspension & Lift axles ~8,900 Workforce 10 Units Manufacturing plants Fab Sector Hydraulic Cylinders $ 540 Million $ 141 Million (Exports) WIL Ca
Slide 6: Journey of Wheels
Journey of Wheels WIL RENEWABLE CAST ALLOY ESTABLISHED CHASSIS AND ENERGY WHEELS PLANT, AT PADI, CONSTRUCTION EARTHMOVER FORGED SUSPENSION COMPONENTS, THERVOY AGRI CHENNAI, PASSENGER EQUIPMENT WHEELS ALLUMINIUM PRODUCTS IRUNGATTUKOTT KANDIGAI, WHEELS TAMIL NADU CAR WHEELS WHEELS – - 1996 WHEELS PADI
Slide 7: Manufacturing Capability
Manufacturing Capability Passenger Car / UV Car / UV Wire Wheels CV – Tube type Commercial Vehicle CV - Tubeless Forged Aluminium Wheels Aluminium Wheels Cast Aluminium Wheels Off Road & Tractor Wheels Tractor Construction wheels Air Air Suspension Suspension Lift Axles Fab & Fabrication for CE Hydr
Slide 8: Plant Locations
Plant Locations Padi - CV, TR, LP, EM, AS, WW & Rampur - CV , LP , EM & TR Pune - CV, TR & LP Sriperumbudur - EM, SPDC & AS FAW Namachivayapuram - FAB Irungattukottai - WTC Pukkathurai - WTC Thervoy Kandigai - CAW Legend CV Commercial Vehicles TR Tractor LP Light Passenger Vehicle EM Earth mover Whe
Slide 9: Key Customers
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Slide 10: Accreditations/Awards
Accreditations/Awards Won the Gold Award for Environmental Action from Daimler India Ecovadis – Silver Climate C Gold Certification Top 15% - Global Rating Water B- Global Rating CII Greenco Rating 10
Slide 11: Accreditations/Awards
Accreditations/Awards Won the Best Supplier Award at Award for Cybersecurity from TAFE MSIL Partnership and Quality Award from Best Overall Partnership and Escorts Kubota Limited Collaboration award at VECV 11
Slide 12: Accreditations/Awards contd…
Accreditations/Awards contd… Komastsu – Significant support for cost kaizen Value Leadership Award from Tata Motors for FY 2025-26 passengers vehicle ltd Komatsu Caterpillar John Deere Best Performance in Supplier Supplier of the Quality for Dump Truck Excellence (2025) year (2025) (2025) 12
Slide 13: Business Overview
Business Overview WIL a leader in automotive wheels business, operates in two business segments, namely automotive products and industrial products. WIL has the following businesses in its fold; ▪ Automotive wheels division – cars, truck and tractors ▪ Construction equipment division comprising whee
Slide 14: Sales growth & Export sales growth
Sales growth & Export sales growth Values in INR Cr / % Sales 5124.40 Q2 2026-27 4619.03 4424.86 4355.56 Sales 1597.60 3701.07 Export 387.82 (24.28%) Export revenues have grown by 30% yoy in Q2FY27 H1 2026-27 2021-22 2022-23 2023-24 2024-25 2025-26 Sales 2983.57 Export 767.56 Export sales (25.73%) 1
Slide 15: Q2 FY27 Summary Financials (standalone)
Q2 FY27 Summary Financials(standalone) Values in INR Cr / % Quarter ended Year ended Key Financials GOLY% Q2 FY 27 Q2 FY 26 31-03-2026 Gross revenues 1,597.60 1,178.95 5,124.40 35.5% EBITDA 130.74 90.11 403.74 45.1% Interest 28.78 27.51 111.82 4.6% Depreciation 31.60 25.38 106.51 24.5% PBT 70.36 37.
Slide 16: H1 FY27 Summary Financials (standalone)
H1 FY27 Summary Financials(standalone) Values in INR Cr / % Quarter ended Year ended Key Financials GOLY% H1 FY 27 H1 FY 26 31-03-2026 Gross revenues 2,983.57 2,365.99 5,124.40 26.1% EBITDA 238.65 179.27 403.74 33.1% Interest 55.62 56.27 111.82 -1.2% Depreciation 62.36 49.95 106.51 24.8% PBT 120.67
Slide 17: Q2 FY27 Consolidated Summary Financials
Q2 FY27 Consolidated Summary Financials Values in INR Cr / % Quarter ended Year ended Key Financials GOLY% Q2 FY 27 Q2 FY 26 31.03.2026 Gross revenues 1,722.96 1,268.53 5,487.46 35.8% EBITDA 143.98 99.28 444.07 45.0% Interest 30.83 29.58 119.76 4.2% Depreciation 33.84 27.49 115.28 23.1% PBT 79.31 42
Slide 18: H1 FY27 Consolidated Summary Financials
H1 FY27 Consolidated Summary Financials Values in INR Cr / % Quarter ended Year ended Key Financials GOLY% H1 FY 27 H1 FY 26 31.03.2026 Gross revenues 3,215.75 2,537.14 5,487.46 26.7% EBITDA 260.25 197.44 444.07 31.8% Interest 59.40 60.31 119.76 -1.5% Depreciation 66.75 53.95 115.28 23.7% PBT 134.10
Slide 19: Segment details Q2 FY27 Consolidated
Segment details Q2 FY27 Consolidated Values in INR Cr / % Segmental Revenue Q2 FY 27 Q2 FY 26 GOLY % Automotive components 1,446 1,032 40% Industrial components 265 232 14% Revenue from operations 1,711 1,264 35% Segmental EBIT Q2 FY 27 Q2 FY 26 GOLY % Automotive components 102.80 60.62 70% Industri
Slide 20: Segment details H1 FY27 Consolidated
Segment details H1 FY27 Consolidated Values in INR Cr / % Segmental Revenue H1 FY 27 H1 FY 26 GOLY % Automotive components 2,700 2,109 28% Industrial components 502 420 19% Revenue from operations 3,202 2,529 27% Segmental EBIT H1 FY 26 H1 FY 26 GOLY % Automotive components 178.41 130.14 37% Industr
Slide 21: Capex
Capex Values in INR Cr Capex 261.84 249.03 148.13 141.53 129.63 2021-22 2022-23 2023-24 2024-25 2025-26 Capex FY27 Capex of FY27 is estimated to be in the region of Rs 400 to Rs 450 crs This capex is towards expansion of capacity in auto steel wheels, cast alloy wheels, energy products division incl
Slide 22: Key metrics (standalone)
Key metrics (standalone) Values in INR Cr / % DEBT Debt Equity 1.08 755.20 0.93 0.84 0.72 708.52 704.10 0.48 674.88 681.23 2022-23 2023-24 2024-25 2025-26 2026-27 Q2 2022-23 2023-24 2024-25 2025-26 2026-27 Q2 Debt is maintained at Q1 FY27 levels. Debt equity is dropped in Q2 FY27. Debt to EBITDA 111
Slide 23: Key metrics (consolidated)
Key metrics (consolidated) Values in INR Cr / % Particulars 30.09.2026 30.09.2025 31.03.2026 Debt (Rs. In Crs.) 693 727 690 Debt Equity (Times) 0.47 0.78 0.68 Debt to EBITDA * (Times) 1.33 1.84 1.55 ROCE* 19.32% 16.72% 18.67% RONW* 15.93% 13.37% 15.65% * Annualised 23 23
Slide 24: Key strategies & focus areas, going forward …ROCE & RONW
Key strategies & focus areas, going forward …ROCE & RONW ▪ Grow exports of wheels for construction equipment and agricultural tractors ▪ Ramp-up the expanded facility for machining of large castings for windmills; Also Step up the capacity and volumes of the fabricated, structural parts for windmill
Slide 25: Thank you
Thank you 25