Wheels India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 17, 2025
WHEELS · price
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Wheels India Limited held its 66th AGM on July 17, 2025 via video conferencing, attended by 83 members including directors. Shareholders transacted all business items, including adoption of FY25 audited financial statements, declaration and confirmation of dividend for FY24-25, re-appointment of Mr. S Viji as director, ratification of cost auditor remuneration, appointment of secretarial auditor for 5 years, and approval of commission to non-executive directors. In his speech, the Chairman noted India's GDP growth at 6.5% for FY25 (vs 9.2% in FY24) and highlighted that the domestic tractor segment grew 8%, with a new tractor wheel line commissioned in March 2025. The company began supplying aluminum wheels to one of India's big four car manufacturers, while exports to the US saw a de-growth though the firm set up a US subsidiary (WIL USA Inc.) with a European subsidiary planned soon. Subsidiary WIL Car Wheels Limited returned to profitability in FY25.
Routine AGM proceedings with no contentious items; the dividend confirmation and the new US/European subsidiaries signal management's focus on export growth despite tariff headwinds, while the new tractor line and entry into a top-4 car maker's supply chain support the medium-term growth story.