Steel Strips Wheels Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 13 Jun 2026 | Auto Components | Market Cap: ₹5.0K Cr
Expecting utilization of 95% across all assets, first time in company history (Q4 FY26 onwards). Projected PAT growth for FY26 is about 15-20%, driven by strong domestic and export demand.
From Steel Strips Wheels Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹295
Market Cap
₹5.0K Cr
P/E Ratio
22.5
How does Steel Strips Wheels Ltd rank in Auto Components?
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
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹49 Cr.
Full financials →📊 Revenue & Sales Performance
- →Expecting utilization of 95% across all assets, first time in company history (Q4 FY26 onwards).
- →Next financial year revenue projected close to INR 6,500 crores versus INR 5,143 crores in FY26.
- →Addition of INR 700-800 crores revenue from new Bhuj facility at full utilization expected from FY27.
- →Aluminum wheel capacity to reach about 6.2 million; aluminum knuckles capacity to cross 1.1 million units by year-end.
- →Tractor segment sales grew ~19% and expected to continue strong growth.
- →Steel wheel capacity in tractor segment to increase by 15-20% with new paint shops adding capacity.
- →Export revenue expected around INR 600 crores in current year, stronger due to diversified markets.
- →EV scooter wheels business growing rapidly, with ~80% market share.
- →Overall 15-20% PAT growth projected for FY27 driven by volume increases and cost recoveries.
📈 Profitability & Margins
- →Projected PAT growth for FY26 is about 15-20%, driven by strong domestic and export demand.
- →EBITDA per wheel is expected to increase from INR 282 in Q4 to close to INR 300 for FY26, roughly a 10% improvement.
- →EBITDA for FY26 is estimated around INR 650 crores, with potential upside towards INR 700-750 crores in FY27.
- →Expansion projects, including Bhuj facility adding INR 700-800 crores revenue at full utilization, will boost top-line and profitability in FY27 and beyond.
- →Efficiency gains from near 95-100% asset utilization and automation will improve margins and reduce labor cost impact.
- →Steel wheel business is expected to turnaround, improving margins due to better pricing negotiation.
- →Export growth is strong, targeted INR 600 crores for FY26, supported by improved market access and diversification.
- →Overall, sustained volume growth, premium product mix, and operational leverage are key drivers of future earnings growth.
🏗️ Capital Expenditure Plans
- →INR 500 crore Capex for expansion at Bhuj facility, covering two projects:
- → - Aluminum wheels capacity close to 1.2 million wheels.
- → - Aluminum knuckles capacity about 1.1 million wheels (also planned in two phases, with an additional 0.5 million next year).
- →Trial productions for these Bhuj projects expected to start around October, with approvals by January next year.
- →Brownfield expansions increasing tractor steel wheel capacity by 15-20%, addition of two paint shops, and a new rim line expected between October and December.
- →Overall capacity expected to reach about 6.2 million aluminum wheels by the end of this financial year.
- →Possible further capacity additions in steel wheels, especially in the car line, under discussion.
- →Expansion plans delayed by 4-5 months but strong confidence on achieving 80-100% utilization by FY28.
- →Projected debt increase of around INR 200 crore linked to Capex expansions.
💰 Fundraising & Capital Structure
- →Steel Strips Wheel Limited projects an increase in debt by approximately INR 200 crore for FY27 due to ongoing Capex and brownfield expansions (~INR 550 crore total Capex).
- →Current debt stands around INR 800 crore and is expected to rise to INR 1,000 crore plus next year.
- →Debt projections will be reviewed at the end of September and are subject to margins evolution.
- →No mention of any new equity fundraising in the disclosed transcripts.
- →The company focuses on funding expansion through debt while monitoring business performance.
📋 Order Book & Pipeline
- →The company is almost sold out for the current year in the aluminum segment, indicating a strong existing order book.
- →New businesses have been won in the knuckles segment, with expectations to further expand this capacity, suggesting healthy pending orders.
- →The Bhuj facility expansion is expected to add INR 700-800 crore in top-line revenue at full utilization, with projections of about 70% utilization by FY28, reflecting robust future orders.
- →Export orders have increased with a diversified portfolio including US, European, Latin American, and Asian markets, targeting INR 600 crore in exports for the current year.
- →Steel wheel segment is set for a turnaround with increased pricing power and expected 95% utilization of existing assets, implying strong order inflow.
- →Demand is strong across segments—passenger cars (54%), commercial vehicles (28%), tractors (13%), EV scooters (about 80% market share), and knuckles for EVs.
- →Overall, the company anticipates close to 100% utilization of assets, implying a very healthy order book and backlog.
Key Metrics
Frequently Asked Questions
What were Steel Strips Wheels Ltd Q4 FY26 results?
Expecting utilization of 95% across all assets, first time in company history (Q4 FY26 onwards). Projected PAT growth for FY26 is about 15-20%, driven by strong domestic and export demand.
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?
INR 500 crore Capex for expansion at Bhuj facility, covering two projects: - Aluminum wheels capacity close to 1.2 million wheels.
Keep Steel Strips Wheels Ltd on your radar — track it to get its next earnings analysis in your feed.
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.