Wheels India & SHPAC Sign Tech Pact to Drive Hydraulics Growth

• Wheels India partners with SHPAC for hydraulic cylinder technology transfer
• Aims to scale up global presence in hydraulics segment
• Sees strong growth potential in Europe and North America

Wheels India has entered into a key technical agreement with SHPAC, a South Korean leader in hydraulic cylinder manufacturing. The partnership involves technology transfer, allowing Wheels India to enhance its manufacturing capabilities and expand its hydraulics business globally.

Srivats Ram, Managing Director of Wheels India, said the company has identified hydraulic cylinders as a strategic growth area and expects this segment to play a major role in its international expansion. He added, “We aim to grow the hydraulics business significantly in the coming years and will continue investing as new opportunities arise".

He added that the technology from SHPAC, which has a solid track record of exporting hydraulic cylinders worldwide, will help Wheels India tap into new markets and existing customer networks more effectively. “This collaboration will give a major boost to our long-term strategy of becoming a key global player in the hydraulics industry”, he noted.

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Wheels India, known for manufacturing wheels for trucks, tractors, and construction equipment, also produces air suspension systems and industrial components for sectors like construction and wind energy. With plants across Tamil Nadu, Maharashtra, Uttar Pradesh, and Uttarakhand, the company is growing its footprint in Europe and North America.

Financially, Wheels India has shown strong performance. In Q1 FY25, it reported a net profit of Rs 26.44 crore on revenues of Rs 1,187 crore, with exports crossing Rs 300 crore. The company’s stock also rose 2% to Rs 882.40 on the NSE following the announcement.

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