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Wheels India (WHEELS)₹2,388+1.50%Auto Components & Equipments
In the Sep 2026 quarter (consolidated), Wheels India reported sales of ₹1,713 Cr, up 35.2% from Sep 2025, and net profit of ₹59.91 Cr, up 87.5% year on year. For the year to Mar 2026, sales were ₹5,477 Cr and net profit ₹158 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 | 1,212 | 1,273 | 1,169 | 1,178 | 1,127 | 1,279 | 1,269 | 1,267 | 1,373 | 1,568 | 1,493 | 1,713 |
| Expenses | 1,149 | 1,172 | 1,083 | 1,092 | 1,038 | 1,171 | 1,171 | 1,169 | 1,268 | 1,435 | 1,376 | 1,579 |
| Operating Profit | 59.78 | 96.58 | 78.68 | 82.72 | 84.67 | 103 | 93.62 | 92.58 | 99.69 | 126 | 112 | 128 |
| OPM % | 5.0% | 8.0% | 7.0% | 7.0% | 8.0% | 8.0% | 7.0% | 7.0% | 7.0% | 8.0% | 8.0% | 7.0% |
| Other Income | 2.01 | 5.01 | 4.01 | 2.01 | 3.01 | 3.01 | 4.02 | 7.02 | 8.02 | 12.04 | 4.01 | 16.05 |
| Interest | 30.08 | 31.06 | 29.07 | 31.08 | 31.05 | 30.09 | 31.05 | 30.07 | 30.08 | 29.06 | 29.08 | 31.08 |
| Depreciation | 20.99 | 21.98 | 22.98 | 22.99 | 23.98 | 23.99 | 25.98 | 26.97 | 28.97 | 31.96 | 32.97 | 33.99 |
| Profit before tax | 10.98 | 49.87 | 30.94 | 31.96 | 32.92 | 51.92 | 40.93 | 41.92 | 48.91 | 76.80 | 54.93 | 78.81 |
| Tax % | 18.9% | 24.0% | 24.9% | 24.9% | 24.0% | 24.9% | 24.9% | 24.9% | 24.0% | 24.0% | 28.9% | 23.9% |
| Net Profit | 8.99 | 37.92 | 23.95 | 23.97 | 24.97 | 38.91 | 30.96 | 31.96 | 36.91 | 58.90 | 38.94 | 59.91 |
| EPS (Rs) | 4.15 | 15.79 | 9.68 | 9.84 | 10.27 | 15.69 | 12.26 | 12.67 | 14.79 | 23.84 | 15.72 | 22.18 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,990 | 2,176 | 2,566 | 3,444 | 2,678 | 2,418 | 3,973 | 4,648 | 4,984 | 4,750 | 5,477 | 6,146 |
| Expenses | 1,813 | 1,983 | 2,359 | 3,189 | 2,494 | 2,266 | 3,704 | 4,410 | 4,704 | 4,382 | 5,040 | 5,658 |
| Operating Profit | 171 | 185 | 198 | 244 | 171 | 142 | 254 | 220 | 265 | 351 | 411 | 464 |
| OPM % | 9.0% | 9.0% | 8.0% | 7.0% | 6.0% | 6.0% | 6.0% | 4.8% | 5.0% | 7.0% | 8.0% | 7.6% |
| Other Income | 2.01 | 4.01 | 23.07 | 8.03 | 8.03 | 2.01 | 16.05 | 26.08 | 16.05 | 11.04 | 31.09 | 40.12 |
| Interest | 58.09 | 48.11 | 45.07 | 66.16 | 67.15 | 59.14 | 71.20 | 106 | 122 | 122 | 120 | 119 |
| Depreciation | 59.97 | 63.99 | 69.98 | 78.97 | 77.90 | 85.93 | 101 | 73.99 | 84.94 | 92.98 | 115 | 128 |
| Profit before tax | 55.87 | 77.82 | 106 | 108 | 35.95 | 0.99 | 97.76 | 65.83 | 74.81 | 149 | 208 | 259 |
| Tax % | 28.9% | 24.0% | 28.9% | 29.9% | −33.1% | 84.9% | 23.9% | 21.9% | 21.0% | 24.9% | 24.0% | — |
| Exceptional items | 0.00 | 0.00 | 8.96 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Net Profit | 40.90 | 58.91 | 74.89 | 75.85 | 46.96 | 0.00 | 73.82 | 50.89 | 58.88 | 112 | 158 | 195 |
| EPS (Rs) | 17.10 | 24.63 | 31.22 | 31.86 | 20.42 | 0.77 | 31.83 | 23.06 | 25.74 | 45.51 | 63.60 | 76.53 |
| Dividend payout % | 26.0% | 26.0% | 24.0% | 25.0% | 28.0% | 132.0% | 26.0% | 30.0% | 29.0% | 25.0% | 23.0% | — |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11.95 | 11.96 | 11.96 | 23.89 | 23.91 | 23.92 | 23.89 | 23.91 | 23.92 | 23.91 | 23.89 |
| Reserves | 402 | 457 | 576 | 617 | 640 | 637 | 710 | 732 | 816 | 898 | 1,018 |
| Borrowings | 388 | 371 | 360 | 497 | 652 | 700 | 879 | 822 | 781 | 740 | 771 |
| Other Liabilities | 493 | 530 | 716 | 878 | 671 | 1,116 | 1,361 | 1,469 | 1,482 | 1,526 | 1,698 |
| Total Liabilities | 1,295 | 1,369 | 1,663 | 2,015 | 1,986 | 2,477 | 2,974 | 3,047 | 3,103 | 3,187 | 3,511 |
| Fixed Assets | 516 | 524 | 556 | 708 | 751 | 881 | 901 | 1,056 | 1,146 | 1,292 | 1,501 |
| CWIP | 17.01 | 22.01 | 65.01 | 64.99 | 198 | 114 | 126 | 114 | 77.03 | 50.03 | 69.06 |
| Investments | 17.01 | 19.01 | 21.04 | 23.04 | 23.02 | 23.02 | 24.03 | 22.04 | 32.04 | 46.05 | 78.14 |
| Other Assets | 744 | 804 | 1,021 | 1,218 | 1,014 | 1,459 | 1,924 | 1,853 | 1,847 | 1,798 | 1,863 |
| Inventories | 298 | 279 | 375 | 436 | 412 | 548 | 801 | 886 | 883 | 770 | 747 |
| Trade receivables | 346 | 436 | 482 | 585 | 472 | 741 | 890 | 768 | 726 | 800 | 818 |
| Cash & equivalents | 5.01 | 9.01 | 10.01 | 9.01 | 6.01 | 3.01 | 4.01 | 5.01 | 5.01 | 4.99 | 4.01 |
| Total Assets | 1,295 | 1,369 | 1,663 | 2,015 | 1,986 | 2,477 | 2,974 | 3,047 | 3,103 | 3,187 | 3,511 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 148 | 156 | 131 | 185 | 185 | 149 | 28.07 | 371 | 330 | 401 | 478 |
| Cash from investing activity | −68.89 | −74.88 | −135 | −229 | −241 | −118 | −120 | −152 | −150 | −213 | −291 |
| Cash from financing activity | −81.80 | −74.82 | 8.97 | 37.86 | 69.76 | −30.89 | 83.72 | −215 | −145 | −187 | −175 |
| Net cash flow | −1.99 | 4.99 | 4.99 | −8.99 | 11.99 | 0.00 | −8.99 | 2.99 | 33.97 | 0.00 | 10.98 |
| Capex | 76.97 | 78.98 | 212 | 241 | 244 | 120 | 135 | 155 | 150 | 209 | 277 |
| Free cash flow | 74.31 | 78.27 | −64.28 | −50.16 | −60.22 | 29.13 | −94.39 | 218 | 180 | 193 | 204 |
| CFO / OP % | 92.0% | 93.9% | 81.0% | 84.0% | 113.9% | 96.0% | 22.0% | 172.9% | 133.9% | 117.0% | 124.0% |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 63 | 72 | 68 | 61 | 64 | 111 | 81 | 59 | 52 | 61 | 54 |
| Inventory days | 83 | 70 | 77 | 65 | 80 | 118 | 100 | 94 | 88 | 84 | 72 |
| Days payable | 104 | 108 | 103 | 97 | 99 | 195 | 136 | 124 | 121 | 135 | 131 |
| Cash conversion cycle | 43 | 36 | 43 | 30 | 45 | 35 | 45 | 30 | 20 | 11 | −4 |
| Working capital days | 15 | 10 | 17 | 9 | 2 | 5 | −3 | −13 | −8 | −11 | −18 |
| ROCE % | — | 15.0% | 15.1% | 16.1% | 8.0% | 4.0% | 11.0% | 11.0% | 12.0% | 16.0% | 19.0% |
For the Sep 2026 quarter, Wheels India reported sales of ₹1,713 Cr, up 35.2% year on year and net profit of ₹59.91 Cr, up 87.5% year on year. The operating margin was 7.0%.
Wheels India's sales for the year to Mar 2026 were ₹5,477 Cr; over the last twelve months they were ₹6,146 Cr.
Net profit for the year to Mar 2026 was ₹158 Cr, and ₹195 Cr over the last twelve months. Earnings per share over the same trailing period were ₹76.53.
Wheels India reported borrowings of ₹771 Cr at Mar 2026, against cash and equivalents of ₹4.01 Cr.
Cash from operations was ₹478 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹204 Cr.