Wheels India Limited (IN:WHEELS)
:WHEELS
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Wheels India Limited
(WHEELS)
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Rating:76Outperform
Price Target:
₹1,364.00
▲(55.72% Upside)
Action:UpgradedDate:04/30/26
The score is driven primarily by strong technical momentum (price well above key moving averages with a positive MACD). Financial performance is solid on growth and operating efficiency but held back by low net margins and only moderate balance-sheet and cash-flow quality. Valuation is reasonable (P/E 14.57) with a modest dividend yield (1.16%).
Positive Factors
Revenue growth and improving gross/EBIT margins
Sustained revenue growth combined with a 30.2% gross margin and stronger EBIT margins indicates durable operational improvement. This suggests better product mix and manufacturing efficiency that support cash generation and reinvestment capacity over the medium term, not a one-off effect.
Negative Factors
Modest net profit margin
A low net margin (2.3%) limits retained earnings and buffers against input-cost shocks. Even with good gross and EBIT metrics, thin net profitability constrains the company’s ability to build equity, support higher ROE, or absorb margin pressure from raw-material volatility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and improving gross/EBIT margins
Sustained revenue growth combined with a 30.2% gross margin and stronger EBIT margins indicates durable operational improvement. This suggests better product mix and manufacturing efficiency that support cash generation and reinvestment capacity over the medium term, not a one-off effect.
Read all positive factors
Wheels India Limited (WHEELS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹30.05B
Dividend Yield1.34%
Average Volume (3M)10.39K
Price to Earnings (P/E)14.6
Beta (1Y)1.36
Revenue Growth9.27%
EPS Growth21.61%
CountryIN
Employees2,511
SectorIndustrials
Sector Strength72
IndustryAuto - Parts
Share Statistics
EPS (TTM)14.76
Shares Outstanding24,433,012
10 Day Avg. Volume7,209
30 Day Avg. Volume10,387
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.60
Price to Sales (P/S)0.31
P/FCF Ratio7.73
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)N/A
Revenue Forecast (FY)N/A
Wheels India Limited Business Overview & Revenue Model
Company Description
Wheels India Limited, together with its subsidiary, engages in the manufacture and sale of automotive and industrial components in India and internationally. The company offers steel wheels for use in heavy and light vehicles, as well as for agric...
How the Company Makes Money
Wheels India Limited primarily makes money by manufacturing and selling automotive components, with revenue largely driven by (1) sales of wheels to vehicle manufacturers (OEM supply) across end markets such as passenger vehicles, commercial vehic...
Wheels India Limited Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
70
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.32B | 47.44B | 49.77B | 46.40B | 39.66B | 24.13B |
| Gross Profit | 15.50B | 14.33B | 13.33B | 6.72B | 5.97B | 4.70B |
| EBITDA | 3.89B | 3.52B | 2.66B | 2.42B | 2.67B | 1.44B |
| Net Income | 1.24B | 1.11B | 627.70M | 553.50M | 764.70M | 18.20M |
Balance Sheet | ||||||
| Total Assets | 33.06B | 31.88B | 31.04B | 30.10B | 29.74B | 24.76B |
| Cash, Cash Equivalents and Short-Term Investments | 327.60M | 82.70M | 68.70M | 25.90M | 63.30M | 27.80M |
| Total Debt | 7.36B | 7.37B | 7.78B | 8.19B | 8.76B | 6.98B |
| Total Liabilities | 23.31B | 22.56B | 22.55B | 22.32B | 22.23B | 17.96B |
| Stockholders Equity | 9.63B | 9.22B | 8.40B | 7.64B | 7.34B | 6.61B |
Cash Flow | ||||||
| Free Cash Flow | 1.16B | 1.91B | 1.79B | 2.21B | -1.08B | 284.00M |
| Operating Cash Flow | 2.30B | 4.00B | 3.29B | 3.73B | 276.10M | 1.48B |
| Investing Cash Flow | -1.34B | -2.13B | -1.50B | -1.48B | -1.20B | -1.18B |
| Financing Cash Flow | -686.70M | -1.88B | -1.46B | -2.11B | 838.10M | -310.80M |
Wheels India Limited Technical Analysis
Positive
875.95
Price Trends
936.99
Positive
880.90
Positive
848.66
Positive
Market Momentum
29.51
Negative
62.53
Neutral
84.37
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WHEELS, the sentiment is Positive. The current price of 875.95 is below the 20-day moving average (MA) of 1008.20, below the 50-day MA of 936.99, and above the 200-day MA of 848.66, indicating a bullish trend. The MACD of 29.51 indicates Negative momentum. The RSI at 62.53 is Neutral, neither overbought nor oversold. The STOCH value of 84.37 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:WHEELS.
Wheels India Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹30.05B | 14.57 | ― | 1.34% | 9.27% | 21.61% | |
76 Outperform | ₹22.01B | 39.75 | ― | 0.44% | 34.43% | 30.27% | |
76 Outperform | ₹18.46B | 10.02 | ― | 0.95% | -5.76% | 13.41% | |
72 Outperform | ₹23.84B | 24.91 | ― | 1.07% | -1.36% | -30.57% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ₹8.88B | 157.48 | ― | 0.87% | -26.48% | -44.64% | |
62 Neutral | ₹15.04B | 42.91 | ― | 0.61% | -18.13% | 379.84% |
* Industrials Sector Average
IN:WHEELS
Wheels India Limited
1,229.95
571.57
86.81%
IN:DIVGIITTS
Divgi TorqTransfer Systems Ltd.
719.75
264.32
58.04%
IN:GNA
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430.00
109.20
34.04%
IN:MMFL
MM Forgings Limited
493.75
150.80
43.97%
IN:PRECAM
Precision Camshafts Ltd.
158.30
-0.09
-0.06%
IN:STERTOOLS
Sterling Tools Limited
244.35
-63.93
-20.74%
Wheels India Limited Corporate Events
Wheels India to Close Trading Window Ahead of FY26 Results
Mar 27, 2026
Wheels India Limited has announced that its trading window for dealing in equity shares will be closed for designated persons and their immediate relatives from April 1, 2026. The window will remain shut until 48 hours after the declaration of the...
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.