Wheels India Limited (WHEELS) AI Stock Analysis

• Market Cap: ₹22.41B
• Dividend Yield: 1.28%
• Average Volume (3M): 10.39K
• Price to Earnings (P/E): 18.1
• Beta (1Y): 1.36
• Revenue Growth: 2.22%
• EPS Growth: 29.00%
• Country: IN
• Employees: 2,511
• Sector: Industrials
• Sector Strength: 72
• Industry: Auto - Parts
• EPS (TTM): 12.68
• Shares Outstanding: 24,433,012
• 10 Day Avg. Volume: 7,209
• 30 Day Avg. Volume: 10,387
• PEG Ratio: 0.17
• Price to Book (P/B): 1.60
• Price to Sales (P/S): 0.31
• P/FCF Ratio: 7.73
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ₹1,077.00 ▲(19.06% Upside)

The overall stock score of 74 reflects strong technical momentum and solid financial performance, despite modest profitability and valuation metrics. The stock's bullish trend and operational efficiency are key strengths, while profitability and dividend yield are areas for potential improvement.

Wheels India Limited Business Overview & Revenue Model

Company Description

Wheels India Limited (WHEELS) is a leading manufacturer of steel wheels in India, primarily serving the automotive and industrial sectors. Established in 1968, the company has expanded its product portfolio to include wheels for passenger vehicles, commercial vehicles, and agricultural equipment. WHEELS also engages in the production of value-added products such as wheel rims and other automotive components, catering to both domestic and international markets.

How the Company Makes Money

Wheels India Limited generates revenue through the manufacturing and sale of steel wheels and related components. The company's primary revenue streams include sales to original equipment manufacturers (OEMs) in the automotive sector, where they supply wheels for passenger cars and commercial vehicles. Additionally, WHEELS earns income from aftermarket sales, providing replacement wheels and parts to consumers. The company has established significant partnerships with major automotive manufacturers, which secure long-term contracts and contribute to stable revenue. Furthermore, WHEELS benefits from its diversified product offerings and a growing presence in export markets, enhancing its earnings potential.

Wheels India Limited Financial Statement Overview

Summary

Wheels India Limited shows strong revenue growth and operational efficiency with a gross profit margin of 30.2%. However, net profit margins and ROE are modest, indicating room for improvement in profitability and shareholder returns.

Income Statement

Wheels India Limited exhibits a strong revenue growth trajectory, with significant improvements in gross and EBIT margins over the years. The gross profit margin has reached 30.2% in the latest year, showcasing improved operational efficiency. However, net profit margins remain modest at 2.3%, indicating room for improvement in cost management and profitability.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.8, reflecting a balanced approach to leveraging. The equity ratio stands at 28.9%, suggesting a fair level of financial stability. Return on equity is relatively low at 12%, indicating potential for enhanced shareholder returns with better net income management.

Cash Flow

Free cash flow growth has been positive, with a 6.8% increase year-on-year. The operating cash flow to net income ratio is robust at 3.6, reflecting strong cash generation capability. However, the free cash flow to net income ratio is 1.72, indicating that while cash generation is healthy, there may be inefficiencies in converting earnings into free cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	48.44B	47.44B	49.77B	46.40B	39.66B	24.13B
Gross Profit	13.42B	14.33B	13.33B	6.72B	5.97B	4.70B
EBITDA	3.75B	3.52B	2.66B	2.42B	2.67B	1.45B
Net Income	1.17B	1.11B	627.70M	553.50M	764.70M	18.20M
Balance Sheet
Total Assets	0.00	31.88B	31.04B	30.10B	29.74B	24.76B
Cash, Cash Equivalents and Short-Term Investments	42.00M	82.70M	68.70M	25.90M	63.30M	27.80M
Total Debt	0.00	7.37B	7.78B	8.19B	8.76B	6.98B
Total Liabilities	-9.32B	22.56B	22.55B	22.32B	22.23B	17.96B
Stockholders Equity	9.32B	9.22B	8.40B	7.64B	7.34B	6.61B
Cash Flow
Free Cash Flow	0.00	1.91B	1.79B	2.21B	-1.08B	284.00M
Operating Cash Flow	0.00	4.00B	3.29B	3.73B	276.10M	1.48B
Investing Cash Flow	0.00	-2.13B	-1.50B	-1.48B	-1.20B	-1.18B
Financing Cash Flow	0.00	-1.88B	-1.46B	-2.11B	838.10M	-310.80M

Wheels India Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 904.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WHEELS, the sentiment is Neutral. The current price of 904.6 is below the 20-day moving average (MA) of 928.71, above the 50-day MA of 852.74, and above the 200-day MA of 734.93, indicating a neutral trend. The MACD of 15.11 indicates Positive momentum. The RSI at 50.11 is Neutral, neither overbought nor oversold. The STOCH value of 43.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:WHEELS.

Wheels India Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GNA	76 Outperform	₹13.75B	13.10	―	0.95%	-4.65%	9.95%
WHEELS	74 Outperform	₹22.41B	18.05	―	1.28%	2.22%	29.00%
STERTOOLS	72 Outperform	₹11.07B	22.59	―	0.87%	-5.67%	-19.62%
MMFL	68 Neutral	₹14.93B	13.46	―	1.33%	-4.47%	-17.62%
PRECAM	64 Neutral	₹17.45B	28.46	―	0.56%	-21.36%	28.08%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DIVGIITTS	61 Neutral	₹18.90B	69.08	―	0.42%	-5.86%	-22.41%