Manufactures steel and aluminium (alloy) wheels, plus aluminium knuckles, supplying Indian auto OEMs and overseas customers. The product mix spans wheels for trucks, tractors, passenger cars, two- and three-wheelers, with alloy wheels accounting for 35% of revenue and premium products (alloy, knuckles, truck and tractor wheels) at about 70% of revenue. In Q1 FY27, revenue was ₹1,509.8 cr (+27% YoY) on EBITDA per wheel of ₹314, against ₹262 in Q1 FY26, with PAT at ₹71.5 cr. The steel wheel business is sold out of capacity industry-wide and SSWL is expanding steel wheel capacity from 24 million to 26 million wheels, while a new Bhuj facility will add 1.2 million alloy wheels and 1.1 million aluminium knuckles, lifting total aluminium wheel capacity to about 6.2 million. Aluminium knuckles, currently running at 100% utilisation, are targeted to nearly double FY27 revenue to ₹110-130 cr from about ₹60 cr in FY26. Exports are recovering after US tariff normalisation, with a ₹600 cr FY27 target, and FY27 capex is set at ₹500-600 cr. Raw materials (steel, aluminium) are the largest cost at 66.8% of FY26 revenue, with employees at 8.3% and other opex at 16.3%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Alloy (aluminium) wheels (35%), Steel wheels — truck and commercial vehicle, Steel wheels — tractor and agri, Steel wheels — passenger car and 2/3 wheelers, Aluminium knuckles, Exports. Cyclical auto-component manufacturer with structural demand tailwinds in CV, tractor and steel wheels
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 4,041 | 4,357 | 4,429 | 5,183 |
| EBITDA (ex other income) | 443 | 937 | 484 | 510 |
| margin % | 11.0 | 21.5 | 10.9 | 9.8 |
| Owners' profit | 0 | 0 | 0 | 190 |
| EPS, as reported (₹) | 12.39 | 43.07 | 12.44 | 12.11 |
| ROE % · ROCE % | 17.1 · 23.9 | 46.8 · 42.8 | 12.0 · 18.6 | 10.5 · 17.1 |
| Debt / equity (x) | 0.56 | 0.73 | 0.51 | 0.46 |
| Cash from operations | 348 | 193 | 517 | 332 |
| Capex | (137) | (383) | (212) | (193) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,095 | 1,075 | 1,234 | 1,187 | 1,201 | 1,321 | 1,475 | 1,510 |
| Profit before tax | 62 | 65 | 78 | 61 | 48 | 62 | 83 | 93 |
| Net profit | 46 | 48 | 61 | 47 | 36 | 47 | 61 | 69 |
| EPS (₹) | 2.94 | 3.04 | 3.87 | 3.01 | 2.26 | 2.97 | 3.87 | 4.42 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,73,567 | 39.6 | 3.98 | 15.4 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,42,736 | 60.4 | 9.61 | 35.1 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 92,992 | 131.7 | 9.73 | 33.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 69,386 | 57.6 | 9.56 | 31.7 | 17.7 | 15.7 | 25.3 | 10.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Promoter Sunena Garg buys 48000 shares of Steel Strips Wheels | ownership changes | medium | — | — |
| 7 Sept 2026 · Newspaper publication of 40th AGM notice | compliance | minimal | — | — |
| 5 Sept 2026 · 40th AGM notice web-link sent to shareholders without registered emails | compliance | minimal | — | — |
| 3 Sept 2026 · Steel Strips Wheels files BRSR report for FY2025-26 with reasonable assurance | compliance | low | — | — |
| 3 Sept 2026 · SSWL files FY26 Annual Report, sets Sep 30 AGM with Rs 1.50 dividend | board shareholder meetings | low | — | — |
| 3 Sept 2026 · AGM Notice Sept 30, 2026; Rs 1.50 Dividend; Borrowing Limit Hike to Rs 3,500 Cr | board shareholder meetings | low | — | — |
| 3 Sept 2026 · 40th AGM on Sep 30, 2026; record date Sep 23, book closure Sep 24-30 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Dividend record date fixed at 23 September 2026 | corporate actions | high | — | — |
| 3 Sept 2026 · Board approves director re-appointments and raises borrowing limit to Rs 3,500 crore | management changes | medium | — | — |
| 3 Sept 2026 · Steel Strips Wheels board clears re-appointments, raises borrowing limit to Rs 3,500 cr | management changes | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| SCHAEFFLER INDIA LIMITED | 61,739 | 49.3 | 10.04 | — | 10.4 | 14.1 | — | 19.4 |
| TUBE INVEST OF INDIA LTD | 50,454 | 83.1 | 3.55 | 19.5 | 7.9 | 12.4 | 30.3 | 10.6 |
| SONA BLW PRECISION FRGS L | 49,016 | 70.4 | 7.99 | 42.6 | 10.3 | 12.9 | — | 25.1 |
| ENDURANCE TECHNO. LTD. | 37,964 | 39.1 | 5.55 | 18.6 | 13.9 | 15.6 | 17.4 | 13.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 27.4 | 26.7 | 66 of 123 | 47% |
| P/B | 3.2 | 3.5 | 57 of 116 | 51% |
| ROCE | 11.5 | 12.6 | 70 of 125 | 44% |
| ROE | 10.5 | 11.6 | 67 of 119 | 44% |
| Debt / Equity | 0.5 | 0.3 | 74 of 119 | 38% |
| EBITDA margin | 10.8 | 12.2 | 71 of 118 | 40% |
| Revenue growth | 27.2 | 20.2 | 36 of 113 | 69% |
| Profit growth | 47.0 | 24.4 | 39 of 115 | 67% |
| Market cap | 5831 | 1542 | 34 of 125 | 73% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
