Steel Strips Wheels Ltd
NSE:SSWL
Steel Strips Wheels Ltd
Steel Strips Wheels Ltd. engages in the manufacture of wheel rims. The company is headquartered in Chandigarh, Chandigarh. The company went IPO on 2005-06-06. The firm's products include steel wheels, alloy wheels and hot rolling mill. Its products under the steel wheel category include tubeless, multi-piece, high vent wheels, semi-full face and weight-optimized (flow formed). The company provides steel wheels and alloy wheels for two and three-wheelers, car and multipurpose utility vehicle (MUV) wheels, commercial vehicle wheels, high-speed trailer and caravan wheels, tractor wheels, and others. The firm operates primarily in India and has a presence in international markets as well. The firm has manufacturing facilities at Dappar (Punjab), Oragadam (Chennai), Jamshedpur(Jharkhand), Mehsana (Gujarat) and Saraikela (Jharkhand).
Steel Strips Wheels Ltd. engages in the manufacture of wheel rims. The company is headquartered in Chandigarh, Chandigarh. The company went IPO on 2005-06-06. The firm's products include steel wheels, alloy wheels and hot rolling mill. Its products under the steel wheel category include tubeless, multi-piece, high vent wheels, semi-full face and weight-optimized (flow formed). The company provides steel wheels and alloy wheels for two and three-wheelers, car and multipurpose utility vehicle (MUV) wheels, commercial vehicle wheels, high-speed trailer and caravan wheels, tractor wheels, and others. The firm operates primarily in India and has a presence in international markets as well. The firm has manufacturing facilities at Dappar (Punjab), Oragadam (Chennai), Jamshedpur(Jharkhand), Mehsana (Gujarat) and Saraikela (Jharkhand).
Revenue Growth: Steel Strips Wheels reported Q3 FY26 revenue of INR 1,321 crores, up 23% year-on-year, driven by strong domestic demand and record sales in November and December.
EBITDA Performance: Q3 EBITDA rose 8% to INR 128 crores, with per-wheel EBITDA reaching INR 260 despite ongoing export headwinds.
Export Challenges: Export sales, particularly in the US, remain subdued due to tariffs, impacting high-margin steel wheel business by INR 300–400 crores annually.
Domestic Strength: Robust growth in aluminum wheels, commercial vehicles, and tractors offset export weakness; capacity utilization is at or above 100% in key segments.
CapEx & Expansion: Ongoing and planned capacity additions in alloy wheels and aluminum knuckles (~INR 420 crores in FY27), with further expansions funded by a mix of debt and internal accruals.
Margin Outlook: Management expects margin improvement and targets EBITDA per wheel of INR 270 in Q4, with INR 300 per wheel seen as achievable as market and product mix evolve.
Guidance: Management projects FY27 revenue of at least INR 6,000 crores, with upside potential to INR 6,500 crores if US tariffs are resolved.
