Steel Strips Wheels Ltd
Steel Strips Wheels Q1 FY26 earnings call: Revenue & Margins
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Domestic alloy wheel segment expected to grow at ~11-12% in the current year (Page 7). PAT growth has been flat over the last 3-4 years primarily due to increased depreciation and finance costs from back-to-back capex (alloy wheel expansion, knuckles facility) (Page 16-17). - Depreciation increased from ~INR25 crores to about INR30 crores per quarter; annualized depreciation is now ~INR120 crores vs.
From Steel Strips Wheels Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Domestic alloy wheel segment expected to grow at ~11-12% in the current year (Page 7).
- Export alloy wheel volumes anticipated to grow around 18-20%, with Europe showing strong inquiries and South America having healthy potential (Pages 7-8).
- Overall company volume growth expected to be around 9-10%, with value growth higher due to increased alloy and CV segments, plus export growth (Page 6).
- Alloy wheels penetration in PV segment projected to increase from 38-39% to around 48-50% over 2-3 years (Page 14).
- Aluminum knuckles expected to grow at 30-35% over 5 years due to low base and EV safety trends (Page 18).
2 more points management made on revenue & sales performance
Profitability & Margins
See what Steel Strips Wheels Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Current FY capex is approximately INR 280-300 crores, focused on alloy wheels and knuckles expansion (Page 15).
- Expansion of AMW capacity: 0.5 million capacity shifted to Jamshedpur; added 0.35-0.4 million capacity in Dappar for tractor capability; remaining 0.5 million capacity usage plans to be clarified next quarter (Pages 13-15).
- New knuckle capacity of 1 million expected by March/April 2026, adding to existing 0.5 million capacity, with order book of ~900,000 units for FY '26-27 (Page 17).
- Long-term and short-term debt expected to be INR 850-900 crores by year-end to support capex; long-term around INR 450 crores at 7-7.5% cost (Page 20).
2 more points management made on capital expenditure plans
Top-ranked in Auto Components
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Steel Strips Wheels Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The company is actively discussing the order book and developments with both domestic and international market customers.
- Current annual manufacturing capacity is 1.5 million units, with plans to expand beyond based on demand.
- The pace of capacity utilization is ramping up, targeting 65,000 to 75,000 units per month by January-March 2027.
- For aluminum knuckles, current revenue outlook includes approximately 900,000 units for FY '26-'27.
- There are ongoing discussions regarding utilization of a 5 million smaller wheels capacity, presently underutilized but expected to be optimized.
- Recent allocation includes a nomination for close to INR 300 crores business from European OEMs.
2 more points management made on order book & pipeline
Steel Strips Wheels Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹49 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Steel Strips Wheels Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
- Q4 FY23 earnings call →
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Frequently Asked Questions
What were Steel Strips Wheels Ltd Q1 FY26 results?
Domestic alloy wheel segment expected to grow at ~11-12% in the current year (Page 7). PAT growth has been flat over the last 3-4 years primarily due to increased depreciation and finance costs from back-to-back capex (alloy wheel expansion, knuckles facility) (Page 16-17). - Depreciation increased from ~INR25 crores to about INR30 crores per quarter; annualized depreciation is now ~INR120 crores vs.
What is Steel Strips Wheels Ltd share price analysis?
Steel Strips Wheels Ltd currently shows a neutral. The stock trades at a P/E of 22.5 with a market cap of ₹5,032 Cr. Investors should review the full earnings analysis for detailed insights.
Is Steel Strips Wheels Ltd planning capital expenditure?
Current FY capex is approximately INR 280-300 crores, focused on alloy wheels and knuckles expansion (Page 15).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.