SSWL - Steel Strips & Wheels Ltd Share Price

Auto Components

₹205.14+0.10(+0.05%)

Market Closed as of Apr 28, 2025, 15:30 IST

What does Steel Strips & Wheels Ltd do?

Auto Components & Equipments•Automobile and AutoComponents•Small Cap

Steel Strips Wheels Limited engages in the design, manufacture, and sale of automotive wheel rims and other auto components in India and internationally. It offers steel wheels rims, alloy wheel rims, and hot rolling mills for two and three wheelers, passenger cars, multi utility vehicles, tractors, commercial vehicles, and OTR vehicles. The company was incorporated in 1985 and is headquartered in Chandigarh, India.

Industry Group:Auto Components

Employees:2,801

Website:sswlindia.com

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Dilution Rank

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Summary of Latest Earnings Report from Steel Strips & Wheels

Summary of Steel Strips & Wheels's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Nov 24

Management Outlook and Major Points

1. Export Recovery & Growth:

Target: Revised export revenue guidance to Rs.600-650 crores (from Rs.650-700 crores) due to global disruptions (freight costs, Middle East/Europe conflicts, U.S. election uncertainty).
Alloy Wheels: Aim for 50% growth in alloy wheel exports (H1 already saw 6% YoY growth). Expect long-term benefits if Trump's policies favor India over China.

2. Domestic Market:

CV Segment: H1 decline of ~16% but expects H2 recovery. Industry may decline 7% FY25, but SSWL targets limiting decline to 1-2%.
Tractor Segment: Strong H1 growth (12% YoY) with market share rising to 41-42% (vs. 36-37% last year). Expects 9-11% FY25 growth.

3. New Product "“ Aluminum Knuckles:

Commercialization: Begins in Q3 FY25; targets SUV segment.
Revenue Targets: Rs.15 crores (FY25), Rs.75-80 crores (FY26), Rs.115-120 crores (FY27). Margins to be double-digit and accretive.
Expansion: Capacity to double to 0.5 million units by FY26, with 7 RFQs in progress.

4. Debt Reduction & CAPEX:

Debt: Reduced by Rs.121 crores in H1; target Rs.825 crores by FY25-end (vs. Rs.1,047 crores in FY24). Plans to repay Rs.300 crores over next two years via internal accruals.
CAPEX: Revised to under Rs.200 crores (from Rs.225 crores) for aluminum/knuckle expansion and solar projects.

5. Margins & Efficiency:

EBITDA/Wheel: Improved to Rs.256 (H1 FY25 vs. Rs.251 YoY). Margins to stabilize with better mix (alloy wheels, tractors) and price negotiations.
Raw Materials: Falling steel prices to offset export pricing pressures.

6. OTR & Future Growth:

OTR Segment: Entering with 65% domestic market share; potential Rs.200-300 crores revenue.
Alloy Wheels: Targeting 10-12% industry growth (vs. 5-6% PV growth). Capacity expansion to 5.4 million units planned.

Key Focus Areas: Export revival, aluminum knuckle scale-up, debt reduction, and margin resilience via operational efficiency.

Q&A Session

Last updated: Nov 24

Major Questions and Answers:

Question: What is the revised export revenue guidance for FY25 considering global challenges?
Answer: Initial guidance of Rs.650-700 crores adjusted to Rs.600-650 crores due to geopolitical tensions, freight cost hikes, and U.S. political uncertainty. H1 exports were Rs.273 crores, with optimism post-U.S. election clarity.
Question: What are the growth prospects and targets for the new aluminum knuckles segment?
Answer: Commercialization begins in Q3 FY25, targeting SUV OEMs. Revenue targets: Rs.15 crores (FY25), Rs.75-80 crores (FY26), and Rs.115-120 crores (FY27). Margins expected to be double-digit, enhancing overall profitability.
Question: How is SSWL managing CAPEX and debt reduction?
Answer: FY25 CAPEX revised to under Rs.200 crores (from Rs.225 crores), funded internally. Debt reduced by Rs.121 crores in H1, targeting Rs.825 crores by FY25-end and Rs.300 crores repayment over two years.
Question: What is the outlook for domestic CV and tractor segments?
Answer: CV industry expected to decline 7% FY25; SSWL anticipates 1-2% volume drop. Tractor segment grew 12% in H1, targeting 9-11% FY25 growth with 41-42% market share.
Question: How are margins impacted by pricing actions and steel price volatility?
Answer: EBITDA/wheel improved to Rs.256 (H1 FY25 vs. Rs.251 YoY). Margins face pressure from global dumping but offset by mix shift to higher-margin products (alloy wheels, tractors). Targeted 50 bps margin improvement via efficiency and repricing.
Question: What is the update on OTR wheel segment expansion?
Answer: Domestic OTR market share at 65%; 17 SKUs in testing for exports. Commercialization expected by Q1 FY26, targeting Rs.200-300 crores revenue long-term.
Question: What are the near-term growth drivers for alloy wheels?
Answer: Domestic alloy wheel penetration rose to 41-42% (from 36-37%). Export growth targeted at 50% FY25, with new OEM agreements. Capacity expansion to 5.4 million wheels planned for FY26.

Share Holdings

Understand Steel Strips & Wheels ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
Dheeraj Garg	29.57%
SAB INDUSTRIES LIMITED	8.44%
SAB UDYOG LIMITED	7.28%
Tata Steel Limited	6.93%
Sumitomo Metal Industries Ltd.	5.42%
CHANDIGARH DEVELOPERS PRIVATE LTD	3.85%
Sunena Garg	3.57%
DHG MARKETING PRIVATE LTD	3.19%
MALWA CHEMTEX UDYOG LTD	2.45%
R K Garg	1.95%
Investor Education and protection Fund	1.51%
New Mark Capital Aif Llp	1.15%
Priya Garg	0.54%
CHANDIGARH AIRCRAFT MANAGEMENT SERVICES PRIVATE LIMITED	0.23%
STEEL STRIPS FINANCIERS PVT LTD	0.13%
S J MERCANTILE PVT. LIMITED	0.01%
S S CREDITS (P) LTD	0.01%
MUNAK INTERNATIONAL PVT LTD	0.01%
MUNAK FINANCIERS PVT LTD	0%
INDIAN ACRYLICS LIMITED	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Valuation
Market Cap	3.22 kCr
Price/Earnings (Trailing)	15.74
Price/Sales (Trailing)	0.75
EV/EBITDA	6.4
Price/Free Cashflow	-16.18
MarketCap/EBT	12.07

Fundamentals
Revenue (TTM)	4.28 kCr
Rev. Growth (Yr)	-3.09%
Rev. Growth (Qtr)	-1.64%
Earnings (TTM)	204.5 Cr
Earnings Growth (Yr)	-12.74%
Earnings Growth (Qtr)	12.44%

Profitability
Operating Margin	6.11%
EBT Margin	6.24%
Return on Equity	14.17%
Return on Assets	6.27%
Free Cashflow Yield	-6.18%

Investor Care
Dividend Yield	0.55%
Dividend/Share (TTM)	1
Shares Dilution (1Y)	0.00%
Diluted EPS (TTM)	13.01

Financial Health
Current Ratio	1.02
Debt/Equity	0.64
Debt/Cashflow	0.21

Income Statement for Steel Strips & Wheels

Standalone figures (in Rs. Crores) / View Consolidated Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	-1.8%	1,075	1,095	1,025	1,069	1,110	1,134
Other Income	-9%	2.91	3.1	3.93	7.2	1.69	2.96
Total Income	-1.8%	1,078	1,098	1,029	1,076	1,112	1,137
Cost of Materials	1.7%	717	705	649	676	741	748
Employee Expense	2.1%	97	95	90	90	90	90
Finance costs	-13.8%	26	30	31	28	25	26
Depreciation and Amortization	0%	25	25	25	23	22	22
Other expenses	-7%	175	188	157	169	188	172
Total Expenses	-2.2%	1,008	1,031	967	1,008	1,041	1,058
Profit Before exceptional items and Tax	4.5%	70	67	62	68	71	79
Total profit before tax	4.5%	70	67	62	68	71	79
Current tax	0%	17	17	16	36	5.64	29
Deferred tax	15.4%	0.56	0.48	-0.14	-28.51	5.62	-2.31
Total tax	6.2%	18	17	16	7.4	11	26
Total profit (loss) for period	4.1%	52	50	46	60	60	52
Other comp. income net of taxes	-129.4%	0.61	0.83	-1.6	2.78	-1.38	-0.77
Total Comprehensive Income	2%	52	51	45	63	58	52
Earnings Per Share, Basic	4.5%	3.3	3.2	2.94	3.85	3.8	3.35
Earnings Per Share, Diluted	5%	3.3	3.19	2.94	3.84	3.8	3.34

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	7.8%	4,357	4,041	3,560	1,749	1,563	2,041
Other Income	36.4%	16	12	13	16	22	17
Total Income	7.9%	4,373	4,053	3,573	1,766	1,585	2,059
Cost of Materials	6.2%	2,854	2,688	2,222	1,082	973	1,354
Employee Expense	26.1%	358	284	219	153	156	188
Finance costs	22.9%	103	84	85	84	89	93
Depreciation and Amortization	12.7%	90	80	77	72	72	62
Other expenses	7.4%	698	650	701	294	270	303
Total Expenses	8.6%	4,085	3,762	3,269	1,702	1,553	1,950
Profit Before exceptional items and Tax	-0.7%	289	291	304	64	33	109
Total profit before tax	-0.7%	289	291	304	64	33	109
Current tax	-1.1%	94	95	90	4.54	0	5.72
Deferred tax	-2146.1%	-25.19	2.28	8.44	10	11	20
Total tax	-29.2%	69	97	98	15	11	25
Total profit (loss) for period	13.5%	220	194	205	49	23	82
Other comp. income net of taxes	103.8%	1.14	-2.66	-2.57	0.1	-0.36	-0.22
Total Comprehensive Income	15.8%	221	191	203	49	23	82
Earnings Per Share, Basic	14.5%	14.04	12.39	13.162	3.158	1.504	5.288
Earnings Per Share, Diluted	14.7%	14.02	12.35	13.13	3.152	1.457	5.074

Consolidated figures (in Rs. Crores) / View Standalone Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	-1.8%	1,075	1,095	1,025	1,069	1,110	1,134
Other Income	-23.5%	0.37	0.49	1.3	4.8	1.69	2.96
Total Income	-1.9%	1,075	1,096	1,027	1,073	1,112	1,137
Cost of Materials	1.7%	717	705	649	676	741	748
Employee Expense	2.1%	97	95	90	90	90	90
Finance costs	-13.8%	26	30	31	28	25	26
Depreciation and Amortization	-3.7%	27	28	29	37	22	22
Other expenses	-6.9%	176	189	158	170	188	172
Total Expenses	-2.2%	1,011	1,034	972	1,024	1,041	1,058
Profit Before exceptional items and Tax	4.9%	65	62	55	50	71	79
Exceptional items before tax	-	0	0	0	473	0	0
Total profit before tax	4.9%	65	62	55	523	71	79
Current tax	7.7%	15	14	14	36	5.64	29
Deferred tax	0%	1.32	1.32	0.34	-28.51	5.62	-2.31
Total tax	6.7%	17	16	14	7.4	11	26
Total profit (loss) for period	4.4%	48	46	41	516	59	52
Other comp. income net of taxes	-129.4%	0.61	0.83	-1.6	2.78	-1.38	-0.77
Total Comprehensive Income	2.2%	48	47	39	518	58	52
Earnings Per Share, Basic	5.2%	3.04	2.94	2.6	32.85	3.79	3.34
Earnings Per Share, Diluted	5.7%	3.04	2.93	2.6	32.8	3.79	3.33

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	7.8%	4,357	4,041	-	-	-	-
Other Income	18.2%	14	12	-	-	-	-
Total Income	7.8%	4,371	4,053	-	-	-	-
Cost of Materials	6.2%	2,854	2,688	-	-	-	-
Employee Expense	26.1%	358	284	-	-	-	-
Finance costs	22.9%	103	84	-	-	-	-
Depreciation and Amortization	30.4%	104	80	-	-	-	-
Other expenses	7.6%	699	650	-	-	-	-
Total Expenses	9%	4,100	3,762	-	-	-	-
Profit Before exceptional items and Tax	-6.9%	271	291	-	-	-	-
Exceptional items before tax	-	473	0	-	-	-	-
Total profit before tax	156.2%	744	291	-	-	-	-
Current tax	-1.1%	94	95	-	-	-	-
Deferred tax	-2146.1%	-25.19	2.28	-	-	-	-
Total tax	-29.2%	69	97	-	-	-	-
Total profit (loss) for period	249.2%	675	194	-	-	-	-
Other comp. income net of taxes	103.8%	1.14	-2.66	-	-	-	-
Total Comprehensive Income	255.3%	676	191	-	-	-	-
Earnings Per Share, Basic	269.4%	43.07	12.39	-	-	-	-
Earnings Per Share, Diluted	270%	43	12.35	-	-	-	-

Balance Sheet for Steel Strips & Wheels

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-102.6%	0.3	28	11	18	23	23
Loans, current	2.9%	144	140	6.31	4.76	4.75	4.12
Total current financial assets	4.4%	637	610	508	398	556	454
Inventories	-3.7%	671	697	706	734	596	647
Current tax assets	-38.9%	0	0.28	-	3.9	0	0
Total current assets	-0.4%	1,320	1,325	1,249	1,178	1,209	1,205
Property, plant and equipment	-3.6%	1,402	1,455	1,302	1,347	1,317	1,358
Capital work-in-progress	31.9%	456	346	353	163	135	97
Non-current investments	0%	9.15	9.15	4.15	4.15	0.19	0.19
Loans, non-current	4.5%	24	23	22	22	22	22
Total non-current financial assets	4.7%	46	44	39	37	31	30
Total non-current assets	1%	1,939	1,919	1,750	1,603	1,515	1,497
Total assets	0.4%	3,259	3,245	3,000	2,781	2,724	2,702
Borrowings, non-current	-14.7%	325	381	282	161	272	279
Total non-current financial liabilities	-14%	345	401	333	229	346	354
Provisions, non-current	6.1%	36	34	32	31	24	23
Total non-current liabilities	-9.3%	528	582	534	431	543	548
Borrowings, current	-9.9%	601	667	554	477	610	404
Total current financial liabilities	-3.7%	1,220	1,267	1,199	1,172	1,070	1,158
Provisions, current	-5.4%	5.87	6.15	6.19	0	5.08	4.56
Current tax liabilities	-	5.26	-	5.56	5.08	2.4	37
Total current liabilities	-2.2%	1,288	1,317	1,242	1,215	1,137	1,201
Total liabilities	-4.4%	1,816	1,899	1,776	1,647	1,681	1,750
Equity share capital	0%	16	16	16	16	16	16
Total equity	7.3%	1,444	1,346	1,223	1,135	1,044	952
Total equity and liabilities	0.4%	3,259	3,245	3,000	2,781	2,724	2,702

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-82.9%	7.66	40	11	18	-	-
Loans, current	-19.9%	3.69	4.36	6.31	4.76	-	-
Total current financial assets	3.5%	504	487	508	398	-	-
Inventories	-3.7%	671	697	706	734	-	-
Current tax assets	-38.9%	0	0.28	0	3.9	-	-
Total current assets	-1.2%	1,187	1,202	1,249	1,178	-	-
Property, plant and equipment	-3.6%	1,567	1,626	1,302	1,347	-	-
Capital work-in-progress	30.4%	473	363	353	163	-	-
Non-current investments	4.4%	3.82	3.7	3.84	4.15	-	-
Loans, non-current	4.5%	24	23	22	22	-	-
Total non-current financial assets	5.3%	41	39	38	37	-	-
Total non-current assets	0.7%	2,116	2,102	1,750	1,603	-	-
Total assets	0%	3,303	3,304	2,999	2,781	-	-
Borrowings, non-current	-14.7%	325	381	282	161	-	-
Total non-current financial liabilities	-14%	345	401	333	229	-	-
Provisions, non-current	6.1%	36	34	32	31	-	-
Total non-current liabilities	-9.9%	483	536	534	431	-	-
Borrowings, current	-9.9%	601	667	554	477	-	-
Total current financial liabilities	-3.7%	1,220	1,267	1,199	1,172	-	-
Provisions, current	-5.4%	5.87	6.15	6.19	5.08	-	-
Current tax liabilities	-	62	-	5.56	0	-	-
Total current liabilities	-2.6%	1,290	1,325	1,242	1,215	-	-
Total liabilities	-4.7%	1,773	1,861	1,776	1,647	-	-
Equity share capital	0%	16	16	16	16	-	-
Total equity	6.2%	1,531	1,442	1,223	1,135	-	-
Total equity and liabilities	0%	3,303	3,304	2,999	2,781	-	-

Cash Flow for Steel Strips & Wheels

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	22.9%	103	84	85
Change in inventories	140.9%	37	-86.96	-150.51
Depreciation	12.7%	90	80	77
Adjustments for interest income	18.2%	14	12	11
Share-based payments	-	4.74	0	0
Net Cashflows from Operations	-68.1%	127	396	452
Income taxes paid (refund)	29.8%	62	48	46
Net Cashflows From Operating Activities	-81.6%	65	348	406
Cashflows used in obtaining control of subsidiaries	35.1%	5	3.96	0
Proceeds from sales of PPE	1593.7%	3.39	0.84	4.82
Purchase of property, plant and equipment	180.9%	383	137	169
Interest received	18.2%	14	12	11
Net Cashflows From Investing Activities	-187.7%	-369.99	-127.94	-153.51
Proceeds from issuing shares	-6.3%	0.83	0.84	0
Proceeds from borrowings	300%	485	122	137
Repayments of borrowings	-71.6%	75	262	296
Payments of lease liabilities	-	0.3	0	0
Dividends paid	36.4%	16	12	3.12
Interest paid	22.9%	103	84	85
Net Cashflows from Financing Activities	223.8%	292	-234.09	-247.88
Net change in cash and cash eq.	5.6%	-13.08	-13.91	4.71

Consolidated figures (in Rs. Crores) / View Standalone Data

Finance costs	22.9%
Change in inventories	140.9%
Depreciation	30.4%
Adjustments for interest income	0%
Share-based payments	-
Net Cashflows from Operations	-35.7%
Income taxes paid (refund)	29.8%
Net Cashflows From Operating Activities	-44.7%
Cashflows used in obtaining control of subsidiaries	-133.8%
Proceeds from sales of PPE	1593.7%
Purchase of property, plant and equipment	180.9%
Interest received	18.2%
Net Cashflows From Investing Activities	-183.8%
Proceeds from issuing shares	-6.3%
Proceeds from borrowings	300%
Repayments of borrowings	-36.4%
Payments of lease liabilities	-
Dividends paid	36.4%
Interest paid	22.9%
Other inflows (outflows) of cash	-
Net Cashflows from Financing Activities	172.3%
Net change in cash and cash eq.	85.8%

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
BHARATFORG	Bharat ForgeAuto Components & Equipments	53.41 kCr	15.64 kCr	-4.45%	-14.72%	62.26	3.41	+1.71%	+5.79%
SUNDRMFAST	Sundram FastenersAuto Components & Equipments	19.34 kCr	5.92 kCr	+0.80%	-16.56%	35.06	3.27	+4.03%	+6.36%
AUTOAXLES	Automotive AxlesAuto Components & Equipments	2.49 kCr	2.11 kCr	+2.34%	-11.80%	16.21	1.18	-10.54%	-11.09%
WHEELS	WHEELS INDIAAuto Components & Equipments	1.68 kCr	4.75 kCr	+18.55%	+17.94%	15	0.35	-4.38%	+154.07%

SSWL - Steel Strips & Wheels Ltd Share Price

What does Steel Strips & Wheels Ltd do?

Summary of Latest Earnings Report from Steel Strips & Wheels

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Valuation

Fundamentals

Profitability

Investor Care

Financial Health

Income Statement for Steel Strips & Wheels

Balance Sheet for Steel Strips & Wheels

Cash Flow for Steel Strips & Wheels

Is Steel Strips & Wheels Better than it's peers?

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)