Wheel Maker Stocks and Companies in India

The largest Wheel Maker stocks in India by market value are Steel Strips Wheels (₹8,506 crore), Wheels India (₹6,232 crore) and Enkei Wheels India (₹711 crore), at prices of 6 Nov 2026.

• Steel Strips Wheels: ₹540.25 | market value ₹8,506 crore | P/E 29.0
• Wheels India: ₹2,314.60 | market value ₹6,232 crore | P/E 32.4
• Enkei Wheels India: ₹395 (price from the week of 16 Aug 2026) | market value ₹711 crore | P/E 27.9

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 6 Nov 2026; the score list below uses the weekly figures.

All 3 listed Indian Auto Ancillaries - Wheels companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Auto Ancillaries - Wheels index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Steel Strips Wheels Ltd₹8,370 cr
2. Wheels India Ltd₹6,470 cr
3. Enkei Wheels India Ltd₹711 cr

3 Wheel Maker companies in the Auto Ancillaries - Wheels industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 3 are listed below, largest first. The largest is Steel Strips Wheels (₹8,366 crore) and the smallest with a market value is Enkei Wheels India.

Download all 3 Wheel Maker companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 61% ahead of NIFTY 500. Earnings across its companies grew 29% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 31 weeks running.

Price and the fundamentals both up. 3 of 3 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 31 weeks running; 2 of the 3 companies in the industry index above their 200-day average (no change from four weeks earlier); 3 of those 3 pass the momentum test (no change from four weeks earlier); earnings rising at 3 of the 3 that report earnings.

Ahead of NIFTY 500 for 31 weeks running and +73.8% over a year, with 3 → 3 of 3 stocks participating. Earnings confirming, 3 of 3 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Auto Ancillaries - Wheels has done better than the NIFTY 500 by 112.5% over the last 52 weeks. Over 13 weeks the gap is a lead of 71.5%. Steel Strips Wheels Ltd is the strongest against the sector itself at +18.4%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 70.9 as of 30 October 2026 (narrowing, rising).

Auto Ancillaries - Wheels has done better than the NIFTY 500 by 112.5% over 52 weeks and by 71.5% over 13 weeks. 2 of 3 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (1 has no relative-strength reading yet), and 1 of the 2 with a long enough price history is ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Steel Strips Wheels Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 97% evidence confidence.

Ranked last: too little evidence (1 company)

Under 60% of the evidence behind this score is available, so it ranks after every company above, whatever the score.

Wheels India Ltd has the strongest one-year price move in Auto Ancillaries - Wheels at +125.8%. Steel Strips Wheels Ltd leads on relative strength against the NIFTY, at +103.0%. 2 of 3 companies we track are ahead of the index on that measure (1 has no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Auto Ancillaries - Wheels itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

2 of 3 Auto Ancillaries - Wheels companies held a results call for July to September 2026. Wheels India guided: FY27 capital spending ₹400-450 crore, aluminium ₹200 crore, industrial ₹100 crore, balance ₹100-150 crore for steel plus air suspension.

From the results calls for July to September 2026.

Big funds, foreign and Indian, cut their stake by 0.3 points over the last two quarters. Founders and promoters cut theirs by 0.5 points.

• Spending on new plants and equipment was ₹512 crore in the last 12 months, 8% more than a year before.
• Projects still being built shrank 41% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 3 Auto Ancillaries - Wheels companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Auto Ancillaries - Wheels figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 17 Apr 2026, so the words are older than the numbers. 2 themes are live here, 1 of them rated high severity.

The sector demonstrates fundamental momentum driven by export growth, capacity expansion in higher-margin products, and active deleveraging. Despite the looming geopolitical tariff risks and commodity cost pressures, the aggressive capex upward revision and steady margin profile support a positive trajectory for the constituent.

The Auto Ancillaries - Wheels sector, represented by WHEELS, is currently operating in an IMPROVING demand environment. During Q3 FY26, WHEELS delivered a notable financial performance, with Profit After Tax (PAT) growing 42% year-over-year to INR 32.05 crores. Revenue also saw an upward trajectory, increasing 21.7% year-over-year to INR 1,287.18 crores.

How old this read is: OLD: this read comes from our Auto Ancillaries - Wheels sector brief dated 17 Apr 2026, about 7 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Sources: our Auto Ancillaries - Wheels sector brief, 17 Apr 2026 · company earnings-call transcripts.

Steel Strips Wheels Ltd has the highest Revenue among the 3 Auto Ancillaries - Wheels companies compared here, at ₹6,236 crore. Wheels India Ltd is next at ₹6,137 crore. The same company also has the highest Revenue growth, at 32.8%. 3 of 3 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Steel Strips Wheels Ltd is the largest at ₹6,236 crore, 1.6% ahead of Wheels India Ltd. Steel Strips Wheels Ltd's growth is 32.8% from a ₹6,236 crore base, with 20 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Steel Strips Wheels Ltd is both the largest and the fastest-growing company here; the growth has to turn into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Steel Strips Wheels Ltd's revenue growth slows for two consecutive comparable reports while its operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Steel Strips Wheels Ltd has the highest OPM among the 3 Auto Ancillaries - Wheels companies compared here, at 12%. Enkei Wheels India Ltd is next at 11%. Enkei Wheels India Ltd has the highest Margin change at +4 percentage points, so level and change sit with different companies. Its OPM series carries 20 reported observations across the 20-quarter window.

What the numbers say: Steel Strips Wheels Ltd leads opm at 12%; Enkei Wheels India Ltd leads margin change at +4 percentage points.

What this means: Steel Strips Wheels Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Steel Strips Wheels Ltd has the highest Net profit among the 3 Auto Ancillaries - Wheels companies compared here, at ₹294 crore. Wheels India Ltd is next at ₹195 crore. Wheels India Ltd has the highest Profit growth at 53.5%, so level and change sit with different companies. Its Net profit series carries 20 reported observations across the 20-quarter window.

What the numbers say: Steel Strips Wheels Ltd earns the most, ₹294 crore of profit over the last 12 months, 50.8% above Wheels India Ltd. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Steel Strips Wheels Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

Wheels India Ltd has the highest ROCE among the 3 Auto Ancillaries - Wheels companies compared here, at 18.8%. Steel Strips Wheels Ltd is next at 14.8%. Steel Strips Wheels Ltd has the highest ROCE change at +4.1 percentage points, so level and change sit with different companies.

What the numbers say: Wheels India Ltd leads ROCE at 18.8%, 4 percentage points above Steel Strips Wheels Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: Wheels India Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: Wheels India Ltd (WHEELS): its two data sources disagree by up to 28% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Steel Strips Wheels Ltd has the lowest PEG among the 3 Auto Ancillaries - Wheels companies compared here, at 5.47×. Enkei Wheels India Ltd has the lowest P/E at 27.9×, so level and change sit with different companies. 1 of 3 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Auto Ancillaries - Wheels companies show up on 2 of our India lists. The most are on the momentum stocks list (2 companies).

This Auto Ancillaries - Wheels comparison names 6 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 has second-source figures left out because the two sources disagree. 1 of the 5 ranked sections has fewer than three usable current readings.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 1 company is missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.
• Thin comparisons: Valuation have fewer than three usable current readings.

This comparison is built from the reported filings of 3 Auto Ancillaries - Wheels companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

1 of 3 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Wheels India Ltd (WHEELS): its two data sources disagree by up to 28% on reported income across 15 comparable periods, so its derived ratios are withheld.

These 23 answers restate the Auto Ancillaries - Wheels comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.