TVS Group's steel wheel manufacturing company, Wheels India Ltd, has reported a net profit of Rs 7.05 crore for the fourth quarter ended March 31, 2012. Its net profit stood at Rs 11.29 crore during the same period last year.
The company plans to invest Rs 80 crore in the current fiscal, mainly to increase capacities in the construction and mining equipment segment. The company plans to raise funds through a mix of debt and equity internally. Around 80 per cent of the company's business comes from the domestic market. It exports wheels for off-road construction equipment and agricultural applications to Japan, Korea, the US, Brazil, Belgium, South Africa, China and Indonesia.