Enkei Wheels India Ltd
ENKEIWHELEnkei Wheels India Ltd's earnings have outrun its stock. EPS grew +92.6% in a year against a −22.6% price move.
The sharpest disagreement: annual EPS moved +92.6% against a −22.6% price move — the market has not yet caught up with the delivery.
The price is in a downtrend (55 weeks in) while the P/E sits at the 55th percentile of its own 10-year range. Underneath, the last four quarters read improving, and 620% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Enkei Wheels India Ltd trades at ₹431, in a downtrend and 55 weeks into that stage. That is −13.4% against its own 200-day average. It sits at 0% of a 52-week range of ₹431 to ₹543. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (7 weeks and counting).
Today the stock is in a downtrend — week 55 of stage 4, confirmed. At ₹431 it trades −13.4% versus its 200-day average and sits at 0% of its 52-week range (₹431–₹543).
Against the market, two honest reads. Cumulative: over the last 10.0 years the stock moved +190% while the NIFTY 500 moved +260% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (7 weeks and counting; last ahead the week of 2026-01-16) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Enkei Wheels India Ltd trades at 111.0× P/E, mid-range by its own standards (55th percentile). Its long-run median P/E is 99.3×, measured across 10.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 111.0× is mid-range by its own standards (55th percentile), against a long-run median of 99.3× measured over 10.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +92.6% against a −22.6% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 10y, of the +11.2%/yr price move, ~−1.3%/yr came from earnings growth and ~+12.5 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Enkei Wheels India Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 9 quarters across 2 curves, on partial evidence.
Why it matters: with too little history, an honest page says so instead of guessing a trajectory.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +15.2% | +13.6% | +32.8% | +9.7% |
| Profit | +66.7% | +7.7% | — | +9.6% |
| EPS | +92.6% | +11.4% | — | +5.3% |
| Share price | −22.6% | −2.6% | +9.8% | +11.2% |
4-Factor Sector Score
36.7/100 — rank 3 of 3 in Auto Ancillaries - Wheels · 42% evidence confidence · provisional, ranked below fully-evidenced peers
Enkei Wheels India Ltd scores 36.7 out of 100 against the 3 companies it is compared with in Auto Ancillaries - Wheels, ranking 3. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
The four contributions add to the total exactly: 17.2 + 6.5 + 10 + 3 = 36.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Enkei Wheels India Ltd reported ₹245 Cr of revenue in the Dec 25 quarter, +25.7% year on year. That is the 4th straight quarter of year-on-year growth. Over 9 years it has compounded at 10.8% a year. The last full year, FY25, came in at ₹972 Cr. The last four reported quarters add to ₹972 Cr.
FY25 revenue came in at ₹972 Cr (+15.2% on the year), capping 9 years at 10.8% compound. The latest quarter (Dec 25) printed ₹245 Cr, +25.7% year on year — the 4th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +15.8% growth against the decade's 10.8% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +15.1% over the last 4 quarters against +16.5%/yr over the last 8 — stabilising; TTM profit +94.0% vs −33.7%/yr — accelerating.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Enkei Wheels India Ltd's operating margin is 10.0% in the Dec 25 quarter, +6.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −1.0% to 10.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 10.0%, +6.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −1.0%–10.0%.
Why the margin moved: operating margin went +6.0 pp year on year while gross margin went −0.3 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Enkei Wheels India Ltd earned ₹4.2 Cr of net profit in the Dec 25 quarter. Full-year FY25 profit was ₹5.0 Cr. That is 1.7% of the quarter's revenue. The same quarter a year earlier lost ₹3.0 Cr. 5 of the last 12 reported quarters were loss-making.
Dec 25 profit was ₹4.2 Cr, null year on year. On the full year, FY25 printed ₹5.0 Cr (+66.7%).
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 620% of Enkei Wheels India Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was ₹44.0 Cr of operating cash against ₹5.0 Cr of profit. Cash resolution here is annual, because quarterly cash statements are not published.
FY25: operating cash of ₹44.0 Cr against reported profit of ₹5.0 Cr. Across the last 3 fiscal years the conversion rate is 620% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 620%: the cash cycle tightened 77 days between FY19 and FY24 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Enkei Wheels India Ltd's cash conversion cycle runs 49 days in FY24, down from 126 days in FY19. Capital spending ran ₹150 Cr over the last 3 years. At FY25 sales of ₹972 Cr each day of that cycle holds about ₹2.7 Cr, so roughly ₹130 Cr sits inside the business at any moment.
FY24: debtors at 40 days, inventory at 57 days — roughly 1.9 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 49 days, tighter than FY19's 126.
The full loop: cash goes out to suppliers and production on day 0; stock waits 57 days to sell; customers pay about 40 days after that; and suppliers themselves are paid at 49 days — netting out to the 49-day cycle.
In money terms: at FY25 sales of ₹972 Cr, each day of the cycle holds about ₹2.7 Cr — so the 49-day loop keeps roughly ₹130 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹150 Cr over the last 3 fiscal years against ₹121 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹43.0 Cr (FY24) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Enkei Wheels India Ltd earns a ROCE of 4% in FY24. That is up from a trough of −9% in FY19. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 0.4% net margin on 1.50× asset turns.
FY24 ROCE is 4%, recovered from a FY19 trough of −9% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY24): 0.4% net margin × 1.50× asset turns × 2.40× balance-sheet leverage ≈ 1.4% on equity. Margin does its share; leverage is a meaningful part of the equation.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Enkei Wheels India Ltd carries ₹206 Cr of borrowings against ₹235 Cr of equity in FY24, a debt-to-equity of 0.88. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹152 Cr to ₹206 Cr. Capital spending ran ₹150 Cr across the last 3 of those years.
FY24: borrowings of ₹206 Cr against equity of ₹235 Cr — a debt-to-equity of 0.88. Operating profit covers the interest bill 4×. Over 5 years borrowings went from ₹152 Cr to ₹206 Cr while capital spending ran ₹150 Cr in just the last 3 — part of the build-out is riding on borrowed money.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Enkei Wheels India Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.0 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: +0.0 points over 8 quarters to 75.0%; Foreign institutions: +0.0 points over 8 quarters to 0.0%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Enkei Wheels India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Wheels India LtdWHEELS | 69.6/100Favorable setup79% evidence | LEADER | 29.4/35 Revenue 17.5% · PAT 40.3% · OPM change 1 pp 95% evidence | 16.4/25 ROCE 18.8% · OPM 8% 76% evidence | 10.6/20 P/E 21.1× · PEG — 35% evidence | 13.2/20 RS sector 4.2% · RS bench 33.2% · 1Y 76.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 29.4 + 16.4 + 10.6 + 13.2 = 69.6 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Steel Strips Wheels LtdSSWL | 51.8/100Mixed-positive evidence91% evidence | TURNING | 19.9/35 Revenue 19.9% · PAT 5.5% · OPM change 1 pp 100% evidence | 11.4/25 ROCE 14.8% · OPM 11% 100% evidence | 12.5/20 P/E 23× · PEG 0.41 85% evidence | 8.0/20 RS sector -19.3% · RS bench 41.4% · 1Y 28.9%7 of 10 weeks ahead 70% evidence |
| Exact sum: 19.9 + 11.4 + 12.5 + 8 = 51.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Enkei Wheels India Ltdthis pageENKEIWHEL | 36.7/100Thin evidence · provisional42% evidence | 17.2/35 Revenue 15.1% · PAT 94% · OPM change 6 pp 40% evidence | 6.5/25 ROCE 7.3% · OPM 10% 57% evidence | 10.0/20 P/E 111× · PEG — 0% evidence | 3.0/20 RS sector -11.6% · RS bench -11.9% · 1Y -18.3%0 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 17.2 + 6.5 + 10 + 3 = 36.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Enkei Wheels India Ltd's share price today?
Enkei Wheels India Ltd trades at ₹431, −22.6% over the past year. The company is valued at ₹774 Cr. The stock sits at 0% of its 52-week range of ₹431–₹543, −13.4% versus its 200-day average. On the tape, the price is in a downtrend, 55 weeks in. — as of 31 July 2026.
What were Enkei Wheels India Ltd's latest quarterly results?
Enkei Wheels India Ltd reported revenue of ₹245 Cr and net profit of ₹4.2 Cr for the Dec 25 quarter. Earnings per share were ₹2.34. The operating margin was 10.0%, 6.0 pp higher than a year earlier. — as of 31 July 2026.
What is Enkei Wheels India Ltd's revenue?
Enkei Wheels India Ltd reported revenue of ₹245 Cr in the Dec 25 quarter, +25.7% year on year. For the full FY25 fiscal year, revenue was ₹972 Cr (+15.2%). Over the last 9 years revenue compounded at 10.8% a year. — as of 31 July 2026.
What is Enkei Wheels India Ltd's profit?
Enkei Wheels India Ltd earned ₹4.2 Cr of net profit in the Dec 25 quarter. Full-year FY25 profit was ₹5.0 Cr. The operating margin ran 10.0% in the latest quarter. — as of 31 July 2026.
What is Enkei Wheels India Ltd's market cap?
Enkei Wheels India Ltd's market capitalisation is ₹774 Cr at a share price of ₹431. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Enkei Wheels India Ltd's P/E ratio?
Enkei Wheels India Ltd trades at a P/E of 111.0×, at the 55th percentile of its own 10-year range, against a long-run median of 99.3×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Enkei Wheels India Ltd pay a dividend?
No — Enkei Wheels India Ltd has recorded a dividend payout of 0% of profit in each of its last 12 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 31 July 2026.
Is Enkei Wheels India Ltd overvalued?
On its own history, Enkei Wheels India Ltd looks mid-range against its own history: its P/E of 111.0× sits at the 55th percentile of its 10-year range (long-run median 99.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.
How is Enkei Wheels India Ltd performing?
Enkei Wheels India Ltd is in a downtrend, 55 weeks in. Against the NIFTY 500 it has been behind on a trailing-13-week view for 7 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
Is Enkei Wheels India Ltd in an uptrend?
No — the price is in a downtrend (week 55 of stage 4), trading −13.4% versus its 200-day average and at 0% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.
Is Enkei Wheels India Ltd beating the market?
Not lately — on a trailing-13-week view Enkei Wheels India Ltd is currently behind the NIFTY 500 (7 weeks and counting; last ahead the week of 2026-01-16), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.0 years the stock moved +190% against the NIFTY 500's +260% — behind the index over the full window. — as of 31 July 2026.
Will Enkei Wheels India Ltd's share price go up?
This page publishes no price forecast for Enkei Wheels India Ltd. What it measures instead: the share price is ₹431, the price is in a downtrend 55 weeks in. Its P/E of 111.0× sits at the 55th percentile of its own 10-year range. — as of 31 July 2026.
Who owns Enkei Wheels India Ltd?
Promoters hold 75.0% of Enkei Wheels India Ltd, foreign institutions 0.0%, domestic institutions null% and the public 25.0% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 31 July 2026.
Does Enkei Wheels India Ltd have too much debt?
It is moderate — Enkei Wheels India Ltd's debt-to-equity is 0.88, and operating profit covers the interest bill 4×. FY24 borrowings were ₹206 Cr against equity of ₹235 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is Enkei Wheels India Ltd's capex?
Enkei Wheels India Ltd spent ₹150 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY24 alone that was ₹62.0 Cr, with ₹43.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Enkei Wheels India Ltd's cash flow?
Enkei Wheels India Ltd generated ₹44.0 Cr of operating cash flow in FY25. Reported profit that year was ₹5.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Enkei Wheels India Ltd's profit real cash?
Yes — over the last 3 fiscal years, 620% of Enkei Wheels India Ltd's reported profit arrived as operating cash. In FY25, operating cash was ₹44.0 Cr against reported profit of ₹5.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 31 July 2026.
Where is Enkei Wheels India Ltd in its business cycle?
Enkei Wheels India Ltd's FY25 operating margin was 9.0%, against a 12-year band of −1.0%–10.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 10.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Enkei Wheels India Ltd story?
The sharpest disagreement: annual EPS moved +92.6% against a −22.6% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.
Is Enkei Wheels India Ltd a stock worth studying right now?
This is not investment advice. The machine read: Enkei Wheels India Ltd's earnings have outrun its stock. EPS grew +92.6% in a year against a −22.6% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.