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Steel Strips Wheels Ltd
(SSWL)
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Rating:62Neutral
Price Target:
₹262.00
▲(24.11% Upside)
Action:Reiterated
Date:07/02/26
The score is driven primarily by improving balance-sheet leverage and strong revenue scaling, but is held back by inconsistent cash generation and recent margin compression. Technicals are a supportive secondary factor with price trending above key moving averages, while valuation is only moderately attractive due to a mid-range P/E and low dividend yield.
Positive Factors
Multi-year revenue scaling
Revenue roughly tripling since FY2021 and a solid FY2026 growth rate indicate durable demand and successful scale-up across OEM, aftermarket and export channels. Greater scale supports fixed-cost absorption, long-term supplier/customer relationships and incremental margin expansion potential.
Negative Factors
Uneven cash generation
Operating cash covering ~20% of sales and swingy free cash flow indicates unstable cash conversion, likely from working-capital swings or uneven capex timing. This undermines self-funding ability for capex, constrains discretionary returns, and raises reliance on external financing in stress periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue scaling
Revenue roughly tripling since FY2021 and a solid FY2026 growth rate indicate durable demand and successful scale-up across OEM, aftermarket and export channels. Greater scale supports fixed-cost absorption, long-term supplier/customer relationships and incremental margin expansion potential.
Read all positive factors
Steel Strips Wheels Ltd (SSWL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹37.72B
Dividend Yield0.65%
Average Volume (3M)13.64K
Price to Earnings (P/E)20.3
Beta (1Y)1.22
Revenue Growth15.91%
EPS Growth-70.79%
CountryIN
Employees2,801
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)12.11
Shares Outstanding157,180,420
10 Day Avg. Volume6,866
30 Day Avg. Volume13,636
Financial Highlights & Ratios
PEG Ratio-5.68
Price to Book (P/B)1.64
Price to Sales (P/S)0.57
P/FCF Ratio21.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.9
Revenue Forecast (FY)₹62.50B
Steel Strips Wheels Ltd Business Overview & Revenue Model
Company Description
Steel Strips Wheels Limited is a leading company involved in the design, manufacturing, and distribution of both steel and alloy wheel rims for the automotive industry. Its products are sold both domestically within India and in international mark...
How the Company Makes Money
SSWL primarily makes money by manufacturing and selling vehicle wheels (steel and alloy) to customers in the automotive value chain. Its key revenue streams are: (1) OEM supply: sales of wheels directly to vehicle manufacturers under supply agreem...
Steel Strips Wheels Ltd Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
63
Positive
Cash Flow
48
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 51.83B | 44.29B | 43.57B | 40.41B | 35.60B |
| Gross Profit | 17.84B | 15.71B | 15.21B | 13.77B | 9.78B |
| EBITDA | 5.13B | 4.84B | 9.51B | 4.55B | 4.66B |
| Net Income | 1.90B | 1.95B | 6.75B | 1.94B | 2.05B |
Balance Sheet | |||||
| Total Assets | 38.31B | 33.99B | 33.04B | 27.81B | 27.02B |
| Cash, Cash Equivalents and Short-Term Investments | 114.64M | 100.95M | 422.35M | 435.66M | 232.09M |
| Total Debt | 8.28B | 8.28B | 10.48B | 6.38B | 7.78B |
| Total Liabilities | 20.27B | 17.73B | 18.61B | 16.47B | 17.50B |
| Stockholders Equity | 18.05B | 16.26B | 14.42B | 11.35B | 9.52B |
Cash Flow | |||||
| Free Cash Flow | 1.39B | 3.04B | -1.90B | 2.11B | 2.37B |
| Operating Cash Flow | 3.32B | 5.17B | 1.93B | 3.48B | 4.06B |
| Investing Cash Flow | -1.86B | -1.96B | -3.65B | -1.28B | -1.54B |
| Financing Cash Flow | -1.44B | -3.54B | 1.71B | -2.34B | -2.48B |
Steel Strips Wheels Ltd Technical Analysis
Positive
211.10
Price Trends
221.94
Positive
212.52
Positive
211.04
Positive
Market Momentum
6.23
Positive
57.01
Neutral
44.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SSWL, the sentiment is Positive. The current price of 211.1 is below the 20-day moving average (MA) of 235.47, below the 50-day MA of 221.94, and above the 200-day MA of 211.04, indicating a bullish trend. The MACD of 6.23 indicates Positive momentum. The RSI at 57.01 is Neutral, neither overbought nor oversold. The STOCH value of 44.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SSWL.
Steel Strips Wheels Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹49.97B | 14.42 | ― | 2.75% | 19.75% | 9.69% | |
68 Neutral | ₹49.67B | 15.79 | ― | 1.07% | 19.29% | 5.17% | |
64 Neutral | ₹20.08B | 17.45 | ― | 0.95% | -3.98% | 9.20% | |
63 Neutral | ₹35.26B | 23.85 | ― | 1.34% | 15.19% | 39.81% | |
62 Neutral | ₹37.72B | 20.32 | ― | 0.65% | 15.91% | -70.79% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹31.67B | 44.72 | ― | 0.40% | 11.97% | 245.60% |
* General Sector Average
IN:SSWL
Steel Strips Wheels Ltd
245.95
-1.37
-0.55%
IN:GNA
GNA Axles Ltd
475.40
155.89
48.79%
IN:LGBBROSLTD
L.G. Balakrishnan & Bros Ltd.
1,587.55
311.47
24.41%
IN:SHARDAMOTR
Sharda Motor Industries Ltd.
869.00
-182.95
-17.39%
IN:TVSSRICHAK
TVS Srichakra Limited
4,150.65
1,033.24
33.14%
IN:WHEELS
Wheels India Limited
1,513.15
728.13
92.75%
Steel Strips Wheels Ltd Corporate Events
Steel Strips Wheels posts Q4 FY26 earnings call recording for investors
Jun 2, 2026
Steel Strips Wheels Ltd. has notified stock exchanges that the audio recording of its Q4 FY26 earnings conference call with analysts and institutional investors, held on June 2, 2025, has been made available on the company’s website. The com...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.