Steel Strips Wheels Ltd Q3 FY26 Earnings Analysis
Published 22 Aug 2026 | Auto Components | Market Cap: ₹5.0K Cr
Price
₹295
Market Cap
₹5.0K Cr
P/E Ratio
22.5
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Compare Steel Strips Wheels Ltd against every Auto Components company this quarter on revenue, margins and earnings-call signals.
Steel Strips Wheels Ltd — Quarterly revenue & net profit
Revenue Net Profit
Sep 2024
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹49 Cr.
Full financials →Earnings Summary
Steel Strips Wheels Limited expects approximately 20% revenue growth in FY 2027, targeting a turnover of Rs. Company targets Rs.
📊 Revenue & Sales Performance
- →Steel Strips Wheels Limited expects approximately 20% revenue growth in FY 2027, targeting a turnover of Rs. 6,000 crores from existing assets.
- →If U.S. tariffs are resolved, an additional Rs. 500 crores revenue from American exports is anticipated, potentially pushing total revenue to Rs. 6,500 crores.
- →Aluminum wheels segment is fully sold out for the next two years, supporting sustained growth.
- →Truck and tractor wheel segments are projected to see significant growth due to rising demand.
- →Capacity expansion in commercial vehicle wheels at Jamshedpur is fully sold out, supporting record production and sales.
- →The new Bhuj facility is expected to start contributing around Diwali but is not counted for significant revenue in FY 2027 initially.
- →Export markets in Europe, accounting for over 58% of export revenue, are set to grow and offset subdued U.S. demand in the near term.
📈 Profitability & Margins
- →Company targets Rs. 270 EBITDA per wheel in Q4 FY 2026, with expectations to surpass this in the next 12 months.
- →Forecasts 20% revenue growth for FY 2027, targeting Rs. 6,000 crores from existing assets, potentially Rs. 6,500 crores if U.S. tariffs normalize.
- →New Bhuj facility (1.2 million aluminum wheels, 0.6 million knuckles) to start contributing post-Diwali FY 2027, peak revenue expected ~Rs. 600 crores (wheels) + Rs. 200 crores (knuckles).
- →EBITDA and PAT expected to see a breakout starting this quarter due to full utilization and strong order book.
- →Investments in digitalization and AI aimed at future readiness, supporting operational excellence and margins.
- →Export market growth, especially in Europe, anticipated to offset U.S. tariff impact over time.
- →Overall earnings, profitability, and margins expected to improve with higher volumes, cost optimization, and premiumization.
🏗️ Capital Expenditure Plans
- →Ongoing CAPEX in Bhuj at the AMW factory site focusing on aluminum wheels and aluminum knuckles, totaling around Rs. 420 crores.
- →Additional brownfield maintenance CAPEX of approximately Rs. 40 crores for FY 2027.
- →Previous year (FY 2026) CAPEX spend was about Rs. 225-250 crores, part of the above-mentioned larger project spread over three years.
- →New aluminum wheel capacity being set up at AMW: 1.2 million wheels and 0.6 million knuckles.
- →The expansion aims to cover a broad category of aluminum wheels globally and knuckles for European markets.
- →Peak revenue from new aluminum wheels facility expected to be about Rs. 600-700 crores; aluminum knuckles about Rs. 200 crores.
- →Funding mix of debt and internal accruals, with net debt addition expected to be around Rs. 200 crores.
- →Minimal CAPEX expected beyond these, with a small potential paint shop investment around Rs. 10-15 crores for steel wheels.
💰 Fundraising & Capital Structure
- The company plans CAPEX of around Rs. 420 crores for expansion in alloy wheels and aluminum knuckles in FY 2027.
- Funding for this CAPEX will be a mix of debt and internal accruals.
- Net debt addition is expected to be around Rs. 200 crores, possibly less.
- No specific mention of equity fundraising in the discussed sections.
- Existing debt cost averages around 8% to 8.5%.
- Maintenance CAPEX is around Rs. 40 crores.
- FY 2026 CAPEX is about Rs. 225-250 crores, with part of the Rs. 420 crores CAPEX spread over FY 2026 to FY 2028.
In summary, the company is planning to raise some additional debt (approx Rs. 200 crores) to fund part of its CAPEX, alongside using internal accruals, but no equity fundraising is indicated at this time.
📋 Order Book & Pipeline
- →The aluminum wheels segment order book is completely sold out for the next two years.
- →Strong order visibility exists across key domestic segments such as tractor wheels, aluminum wheels, and commercial vehicles.
- →Full order book reported, indicating robust demand and capacity utilization.
- →Capacity expansions are underway, with new facilities expected to start before Diwali 2026, enhancing order fulfillment capability.
- →The company expects a turnover of around Rs. 6,000 crores next year from existing assets with potential upside from the new Bhuj facility.
- →Export market diversification, especially into Europe (accounting for over 58% of exports), supports sustained demand despite U.S. tariff challenges.
Key Metrics
Frequently Asked Questions
What were Steel Strips Wheels Ltd Q3 FY26 results?
Steel Strips Wheels Limited expects approximately 20% revenue growth in FY 2027, targeting a turnover of Rs. Company targets Rs.
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?
Ongoing CAPEX in Bhuj at the AMW factory site focusing on aluminum wheels and aluminum knuckles, totaling around Rs.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.