Wheels India, a TVS group company, has drawn up a Rs. 122-crore capital expenditure programme for the current financial year.
�We will be investing this towards capacity expansion. After 2011-12, this is the first year when we are seeing capacity expansion in all the segments we are present in, all at the same time,� Srivats Ram, MD, told the media on Tuesday.

�It is also the first time in many years that we are seeing successive years of such strong growth. We are full on capacity, and ramping up capacity is a challenge.�

The capacity addition should be on stream in the second half of this year, he said. �The sudden pace of shift to higher tonnage [in commercial vehicles] in the second half of last year was a surprise.�

�We expect strong growth to continue in CV and construction segments. Mining is also showing signs of life, and we are positive [about] growth in this segment as well,� he added.

Wind energy prospects

He said he saw a pick-up in exports in wind energy. �The outlook is promising. Demand is quite strong. Direction towards growth is seen in all segments. We are targeting double-digit growth this year. We grew exports by 10% last year, and expect exports to do well this year,� Mr. Ram said.

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