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Steel Strips Wheels (SSWL)₹548.95−0.72%Auto Components & Equipments
In the Sep 2026 quarter (consolidated), Steel Strips Wheels reported sales of ₹1,923 Cr, up 60.6% from Sep 2025, and net profit of ₹117 Cr, up 225.2% year on year. For the year to Mar 2026, sales were ₹5,160 Cr and net profit ₹190 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,106 | 1,065 | 1,021 | 1,090 | 1,070 | 1,229 | 1,183 | 1,197 | 1,315 | 1,468 | 1,504 | 1,923 |
| Expenses | 996 | 962 | 915 | 980 | 959 | 1,103 | 1,069 | 1,092 | 1,196 | 1,329 | 1,351 | 1,700 |
| Operating Profit | 117 | 110 | 113 | 119 | 118 | 134 | 122 | 111 | 127 | 150 | 163 | 236 |
| OPM % | 10.0% | 9.9% | 10.9% | 11.0% | 10.9% | 10.9% | 9.9% | 8.9% | 9.9% | 10.0% | 10.9% | 11.9% |
| Other Income | 1.99 | 476 | 0.99 | 0.99 | 0.00 | 0.99 | 0.99 | 0.99 | 0.00 | 0.99 | 0.99 | 0.99 |
| Interest | 24.98 | 27.99 | 30.99 | 30.02 | 25.98 | 29.02 | 28.98 | 31.98 | 32.02 | 31.01 | 31.99 | 35.01 |
| Depreciation | 22.01 | 36.99 | 29.02 | 28.04 | 27.01 | 28.02 | 32.03 | 32.02 | 35.02 | 36.99 | 38.03 | 45.06 |
| Profit before tax | 70.87 | 522 | 54.92 | 61.90 | 63.83 | 77.84 | 60.84 | 47.86 | 61.87 | 82.76 | 92.73 | 156 |
| Tax % | 16.0% | 1.0% | 25.0% | 26.0% | 26.0% | 22.0% | 23.0% | 26.0% | 24.0% | 27.0% | 26.0% | 25.0% |
| Exceptional items | 0.00 | 442 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 58.84 | 515 | 40.90 | 45.88 | 47.86 | 60.81 | 46.85 | 35.87 | 46.87 | 60.84 | 68.83 | 117 |
| EPS (Rs) | 3.78 | 32.89 | 2.61 | 2.93 | 3.03 | 3.86 | 3.02 | 2.27 | 2.98 | 3.86 | 4.41 | 7.45 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales | 3,548 | 4,029 | 4,339 | 4,412 | 5,160 | 6,211 |
| Expenses | 3,118 | 3,609 | 3,907 | 3,955 | 4,687 | 5,575 |
| Operating Profit | 453 | 443 | 464 | 484 | 510 | 676 |
| OPM % | 12.9% | 11.0% | 10.9% | 10.9% | 10.0% | 10.9% |
| Other Income | 12.95 | 11.95 | 485 | 2.99 | 2.99 | 2.97 |
| Interest | 84.95 | 83.97 | 103 | 117 | 123 | 130 |
| Depreciation | 77.01 | 80.01 | 104 | 111 | 136 | 155 |
| Profit before tax | 303 | 290 | 742 | 258 | 253 | 393 |
| Tax % | 32.0% | 33.0% | 9.0% | 25.0% | 25.0% | — |
| Exceptional items | 0.00 | 0.00 | 415 | 0.00 | 2.01 | 0.00 |
| Net Profit | 204 | 193 | 673 | 194 | 190 | 293 |
| EPS (Rs) | 13.17 | 12.37 | 43.04 | 12.43 | 12.09 | 18.70 |
| Dividend payout % | 6.0% | 8.0% | 2.0% | 10.0% | 12.1% | — |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 16.01 | 16.02 | 16.01 | 16.03 | 16.03 |
| Reserves | 936 | 1,120 | 1,428 | 1,612 | 1,791 |
| Borrowings | 781 | 641 | 1,051 | 831 | 831 |
| Other Liabilities | 977 | 1,013 | 806 | 951 | 1,204 |
| Total Liabilities | 2,710 | 2,789 | 3,301 | 3,408 | 3,841 |
| Fixed Assets | 1,364 | 1,354 | 1,633 | 1,789 | 1,977 |
| CWIP | 96.87 | 163 | 362 | 287 | 154 |
| Investments | 0.00 | 3.99 | 3.99 | 9.97 | 9.98 |
| Other Assets | 1,249 | 1,269 | 1,302 | 1,321 | 1,700 |
| Inventories | 646 | 734 | 697 | 743 | 952 |
| Trade receivables | 392 | 349 | 439 | 485 | 608 |
| Cash & equivalents | 57.94 | 43.92 | 42.92 | 9.99 | 10.99 |
| Total Assets | 2,710 | 2,789 | 3,301 | 3,408 | 3,841 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from operating activity | 404 | 347 | 192 | 515 | 331 |
| Cash from investing activity | −153 | −128 | −363 | −195 | −185 |
| Cash from financing activity | −249 | −235 | 172 | −355 | −145 |
| Net cash flow | 4.98 | −13.96 | −0.99 | −32.91 | 0.99 |
| Capex | 168 | 137 | 382 | 211 | 192 |
| Free cash flow | 241 | 212 | −188 | 326 | 143 |
| CFO / OP % | 100.0% | 89.0% | 55.0% | 120.0% | 73.0% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor days | 40 | 32 | 37 | 40 | 43 |
| Inventory days | 107 | 100 | 89 | 94 | 101 |
| Days payable | 110 | 95 | 77 | 96 | 108 |
| Cash conversion cycle | 39 | 38 | 50 | 40 | 39 |
| Working capital days | −7 | −8 | −15 | −10 | 0 |
| ROCE % | — | 21.1% | 17.1% | 15.0% | 15.0% |
For the Sep 2026 quarter, Steel Strips Wheels reported sales of ₹1,923 Cr, up 60.6% year on year and net profit of ₹117 Cr, up 225.2% year on year. The operating margin was 11.9%.
Steel Strips Wheels' sales for the year to Mar 2026 were ₹5,160 Cr; over the last twelve months they were ₹6,211 Cr.
Net profit for the year to Mar 2026 was ₹190 Cr, and ₹293 Cr over the last twelve months. Earnings per share over the same trailing period were ₹18.70.
Steel Strips Wheels reported borrowings of ₹831 Cr at Mar 2026, against cash and equivalents of ₹10.99 Cr.
Cash from operations was ₹331 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹143 Cr.