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Steel Strips Wheels Ltd
(SSWL)
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Rating:60Neutral
Price Target:
₹380.00
▲(28.88% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily held back by inconsistent cash flow generation and earnings variability despite strong revenue growth and improving leverage. Technicals are a key support (strong uptrend and positive momentum), but the setup looks extended, and valuation is only moderate given the ~26.8x P/E and low dividend yield.
Positive Factors
Revenue Scaling
Strong multi-year revenue expansion indicates growing demand for SSWL’s automotive wheels across OEM, replacement, and export channels. Continued top-line progress can support operating scale, customer reach, and reinvestment, although its durability will depend on sustaining vehicle-production and replacement-market volumes.
Negative Factors
Uneven Cash Conversion
Volatile free cash flow indicates that reported earnings do not consistently translate into cash available for debt reduction, investment, or shareholder returns. The swings may reflect changing working-capital or capital-expenditure needs, making financial planning and funding growth less predictable over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scaling
Strong multi-year revenue expansion indicates growing demand for SSWL’s automotive wheels across OEM, replacement, and export channels. Continued top-line progress can support operating scale, customer reach, and reinvestment, although its durability will depend on sustaining vehicle-production and replacement-market volumes.
Read all positive factors
Steel Strips Wheels Ltd (SSWL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹56.91B
Dividend Yield0.35%
Average Volume (3M)91.84K
Price to Earnings (P/E)26.7
Beta (1Y)1.13
Revenue Growth19.94%
EPS Growth5.14%
CountryIN
Employees2,801
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)13.52
Shares Outstanding157,265,100
10 Day Avg. Volume197,741
30 Day Avg. Volume91,842
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)17.15
Revenue Forecast (FY)₹62.29B
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 automotive wheels. Its revenue model is product-led, with sales generated from (1) OEM supply: wheels sold directly to vehicle manufacturers under supply agreements for fitment on new vehicle...
Steel Strips Wheels Ltd Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
63
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 55.06B | 51.83B | 44.29B | 43.57B | 40.41B | 35.60B |
| Gross Profit | 19.60B | 17.84B | 15.84B | 15.21B | 12.49B | 13.63B |
| EBITDA | 5.55B | 5.13B | 4.84B | 9.47B | 4.55B | 4.66B |
| Net Income | 2.12B | 1.90B | 1.95B | 6.75B | 1.94B | 2.05B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 38.31B | 33.98B | 32.92B | 27.81B | 27.02B |
| Cash, Cash Equivalents and Short-Term Investments | 114.00M | 114.64M | 95.41M | 422.35M | 183.31M | 232.04M |
| Total Debt | 0.00 | 8.28B | 8.28B | 10.48B | 6.38B | 7.78B |
| Total Liabilities | -18.05B | 20.27B | 17.73B | 18.46B | 16.47B | 17.50B |
| Stockholders Equity | 18.05B | 18.05B | 16.25B | 14.42B | 11.35B | 9.52B |
Cash Flow | ||||||
| Free Cash Flow | -182.32M | 1.39B | 3.04B | -1.90B | 2.11B | 2.37B |
| Operating Cash Flow | 992.17M | 3.32B | 5.17B | 1.93B | 3.48B | 4.06B |
| Investing Cash Flow | -1.12B | -1.86B | -1.96B | -3.65B | -1.28B | -1.54B |
| Financing Cash Flow | 152.96M | -1.44B | -3.54B | 1.71B | -2.34B | -2.48B |
Steel Strips Wheels Ltd Technical Analysis
Positive
294.85
Price Trends
290.14
Positive
253.61
Positive
226.27
Positive
Market Momentum
15.35
Negative
74.27
Negative
88.85
Negative
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 294.85 is below the 20-day moving average (MA) of 315.77, above the 50-day MA of 290.14, and above the 200-day MA of 226.27, indicating a bullish trend. The MACD of 15.35 indicates Negative momentum. The RSI at 74.27 is Negative, neither overbought nor oversold. The STOCH value of 88.85 is Negative, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹23.72B | 17.99 | ― | 0.54% | 8.11% | 29.23% | |
73 Outperform | ₹50.64B | 15.26 | ― | 1.84% | 25.60% | -1.79% | |
65 Neutral | ₹54.23B | 16.92 | ― | 1.29% | 20.77% | 4.95% | |
63 Neutral | ₹42.07B | 25.78 | ― | 0.84% | 17.47% | 39.52% | |
60 Neutral | ₹56.91B | 26.69 | ― | 0.35% | 19.94% | 5.14% | |
58 Neutral | ₹40.09B | 43.27 | ― | 0.32% | 18.56% | 244.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:SSWL
Steel Strips Wheels Ltd
361.85
121.55
50.58%
IN:GNA
GNA Axles Ltd
552.45
240.54
77.12%
IN:LGBBROSLTD
L.G. Balakrishnan & Bros Ltd.
1,700.40
363.82
27.22%
IN:SHARDAMOTR
Sharda Motor Industries Ltd.
882.10
-181.70
-17.08%
IN:TVSSRICHAK
TVS Srichakra Limited
5,235.15
2,243.45
74.99%
IN:WHEELS
Wheels India Limited
1,721.65
981.54
132.62%
Steel Strips Wheels Ltd Corporate Events
Steel Strips Wheels Publishes Notice on Transfer of Shares to IEPF
Aug 3, 2026
Steel Strips Wheels Ltd notified exchanges that it has published a shareholder notice regarding the proposed transfer of certain equity shares to the Investor Education and Protection Fund Authority, in line with SEBI’s listing and disclosur...
Steel Strips Wheels releases July 2026 investor presentation
Jul 15, 2026
Steel Strips Wheels Ltd. has notified the National Stock Exchange of India and BSE that it has released an investor presentation for July 2026, in line with regulatory disclosure requirements. The filing, signed by the company secretary and compli...
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.