Steel Strips Wheels Ltd
SSWLSteel Strips Wheels Ltd's price has outrun its earnings. +43.1% in a year against EPS −2.7% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +43.1% in a year while annual EPS moved −2.7% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (8 weeks in) while the P/E sits at the 98th percentile of its own 3-year range. Underneath, the last four quarters read improving — profit +46.8% year on year, and 98% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has 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.
Steel Strips Wheels Ltd trades at ₹310, in a confirmed uptrend and 8 weeks into that stage. That is +38.5% against its own 200-day average. It sits at 100% of a 52-week range of ₹179 to ₹310. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 15 straight weeks.
Today the stock is in a confirmed uptrend — week 8 of stage 2, confirmed. At ₹310 it trades +38.5% versus its 200-day average and sits at 100% of its 52-week range (₹179–₹310).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +842% while the NIFTY 500 moved +276% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 15 straight weeks — 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.
Steel Strips Wheels Ltd trades at 23.0× P/E, about the priciest it has ever traded. Its long-run median P/E is 17.0×, measured across 3.2 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 23.0× is about the priciest it has ever traded, against a long-run median of 17.0× measured over 3.2 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 −2.7% against a +43.1% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 3y, of the +7.0%/yr price move, ~+3.0%/yr came from earnings growth and ~+4.0 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 full against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Improving 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).
Steel Strips Wheels Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 4 quarters ago at −70.9% and has held its recovery at +5.4%, ROCE holding at 19.6%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +17.0% | +8.7% | — | — |
| Profit | −2.6% | −0.7% | — | — |
| EPS | −2.7% | −0.8% | — | — |
| Share price | +43.1% | +7.0% | +17.9% | +19.9% |
4-Factor Sector Score
51.8/100 — rank 2 of 3 in Auto Ancillaries - Wheels · 91% evidence confidence
Steel Strips Wheels Ltd scores 51.8 out of 100 against the 3 companies it is compared with in Auto Ancillaries - Wheels, ranking 2. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 19.9 + 11.4 + 12.5 + 8 = 51.8. 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.
Steel Strips Wheels Ltd reported ₹1,510 Cr of revenue in the Jun 26 quarter, +27.2% year on year. That is the 6th straight quarter of year-on-year growth. Over 4 years it has compounded at 9.8% a year. The last full year, FY26, came in at ₹5,183 Cr. The last four reported quarters add to ₹5,507 Cr.
FY26 revenue came in at ₹5,183 Cr (+17.0% on the year), capping 4 years at 9.8% compound. The latest quarter (Jun 26) printed ₹1,510 Cr, +27.2% year on year — the 6th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +19.8% growth against the decade's 9.8% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +20.0% over the last 4 quarters against +12.7%/yr over the last 8 — accelerating; TTM profit +5.4% vs −43.5%/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.
Steel Strips Wheels Ltd's operating margin is 11.0% in the Jun 26 quarter, +1.0 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 10.0% to 13.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 11.0%, +1.0 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 10.0%–13.0%.
Why the margin moved: operating margin went +0.5 pp year on year while gross margin went −0.3 pp — the gain came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Steel Strips Wheels Ltd earned ₹69.0 Cr of net profit in the Jun 26 quarter, +46.8% year on year. Full-year FY26 profit was ₹190 Cr. The 4-year compound rate is −1.9%. That is 4.6% of the quarter's revenue. The same quarter a year earlier earned ₹47.0 Cr.
Jun 26 profit was ₹69.0 Cr, +46.8% year on year. On the full year, FY26 printed ₹190 Cr (−2.6%), and the 4-year compound rate is −1.9%.
Why profit moved: revenue contributed +27.2% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +5.7% vs revenue +19.8%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
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 98% of Steel Strips Wheels Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹332 Cr of operating cash against ₹190 Cr of profit. After ₹191 Cr of capital spending, ₹141 Cr was left as free cash.
FY26: operating cash of ₹332 Cr against reported profit of ₹190 Cr, leaving free cash of ₹141 Cr after ₹191 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 98% 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 98%: the cash cycle held roughly steady between FY22 and FY26 — so conversion tracks profitability rather than the cycle.
Router verdict: the bigger cash user is investment — capital spending ran 2.7× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
Steel Strips Wheels Ltd's cash conversion cycle runs 38 days in FY26, down from 38 days in FY22. Capital spending ran ₹964 Cr over the last 3 years. At FY26 sales of ₹5,183 Cr each day of that cycle holds about ₹14.2 Cr, so roughly ₹540 Cr sits inside the business at any moment.
FY26: debtors at 43 days, inventory at 102 days — roughly 3.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 38 days, tighter than FY22's 38.
The full loop: cash goes out to suppliers and production on day 0; stock waits 102 days to sell; customers pay about 43 days after that; and suppliers themselves are paid at 108 days — netting out to the 38-day cycle.
In money terms: at FY26 sales of ₹5,183 Cr, each day of the cycle holds about ₹14.2 Cr — so the 38-day loop keeps roughly ₹540 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹964 Cr over the last 3 fiscal years against ₹351 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹154 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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.
Steel Strips Wheels Ltd earns a ROCE of 15% in FY26. That is up from a trough of 15% in FY25. Return on invested capital clears the cost of that capital by −0.4 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 3.7% net margin on 1.35× asset turns.
FY26 ROCE is 15%, recovered from a FY25 trough of 15% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 3.7% net margin × 1.35× asset turns × 2.12× balance-sheet leverage ≈ 10.6% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 11.6% − 12.0% = a −0.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Steel Strips Wheels Ltd carries total debt of ₹828 Cr against shareholder equity of ₹1,805 Cr as of Jun 26, a debt-to-equity of 0.46. On the annual view that ratio went from 0.82 in FY22 to 0.46 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Jun 26: total debt of ₹828 Cr against shareholder equity of ₹1,805 Cr — a debt-to-equity of 0.46. On the annual view, debt-to-equity went from 0.82 (FY22) to 0.46 (FY26). Read the returns on this page with that leverage in mind.
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.
Foreign institutions added 2.3 points of Steel Strips Wheels Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 8.6% of the company. Domestic institutions moved −0.9 points over the same window, to 3.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +2.3 points over 8 quarters to 8.6%; Domestic institutions: −0.9 points over 8 quarters to 3.1%; Promoters: +0.2 points over 8 quarters to 61.1%.
Why the register moved: foreign institutions drove it (+2.3 points), absorbed on the other side by domestic institutions (−0.9 points) — steady accumulation by institutions reading the same numbers this page reads.
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.
Steel Strips Wheels 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 Ltdthis pageSSWL | 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 LtdENKEIWHEL | 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 Steel Strips Wheels Ltd's share price today?
Steel Strips Wheels Ltd trades at ₹310, +43.1% over the past year. The company is valued at ₹4,881 Cr. The stock sits at 100% of its 52-week range of ₹179–₹310, +38.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 8 weeks in. — as of 31 July 2026.
What were Steel Strips Wheels Ltd's latest quarterly results?
Steel Strips Wheels Ltd reported revenue of ₹1,510 Cr and net profit of ₹69.0 Cr for the Jun 26 quarter. Revenue rose 27.2% and profit rose 46.8% year on year. Earnings per share were ₹4.42. The operating margin was 11.0%, 1.0 pp higher than a year earlier. — as of 31 July 2026.
What is Steel Strips Wheels Ltd's revenue?
Steel Strips Wheels Ltd reported revenue of ₹1,510 Cr in the Jun 26 quarter, +27.2% year on year. For the full FY26 fiscal year, revenue was ₹5,183 Cr (+17.0%). Over the last 4 years revenue compounded at 9.8% a year. — as of 31 July 2026.
What is Steel Strips Wheels Ltd's profit?
Steel Strips Wheels Ltd earned ₹69.0 Cr of net profit in the Jun 26 quarter, +46.8% year on year. Full-year FY26 profit was ₹190 Cr. The operating margin ran 11.0% in the latest quarter. — as of 31 July 2026.
What is Steel Strips Wheels Ltd's market cap?
Steel Strips Wheels Ltd's market capitalisation is ₹4,881 Cr at a share price of ₹310. 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 Steel Strips Wheels Ltd's P/E ratio?
Steel Strips Wheels Ltd trades at a P/E of 23.0×, at the 98th percentile of its own 3-year range, against a long-run median of 17.0×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Steel Strips Wheels Ltd pay a dividend?
Not in its latest year — Steel Strips Wheels Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 4 of its last 5 reported fiscal years, so there is a history but no current dividend. — as of 31 July 2026.
Is Steel Strips Wheels Ltd overvalued?
On its own history, Steel Strips Wheels Ltd looks expensive against its own history: its P/E of 23.0× sits at the 98th percentile of its 3-year range (long-run median 17.0×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.
Is Steel Strips Wheels Ltd growing?
Yes — Steel Strips Wheels Ltd is growing: latest-quarter revenue +27.2% year on year, profit +46.8%, and the margin +1.0 pp at 11.0%. The 4-year compound rates are 9.8% (revenue) and −1.9% (profit). The earnings engine currently reads: improving — as of 31 July 2026.
How is Steel Strips Wheels Ltd performing?
Steel Strips Wheels Ltd is in a confirmed uptrend, 8 weeks in. Its latest quarter's revenue rose 27.2% and profit rose 46.8% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 15 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Steel Strips Wheels Ltd in?
Improving — profit growth bottomed 4 quarters ago at −70.9% and has held its recovery at +5.4%, ROCE holding at 19.6%. The read comes from the last 12 quarters of growth (revenue growth +20.0% latest, profit growth +5.4% latest, eps growth +5.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Steel Strips Wheels Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 8 of stage 2), trading +38.5% versus its 200-day average and at 100% 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 Steel Strips Wheels Ltd beating the market?
On recent form, yes — Steel Strips Wheels Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 15 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +842% against the NIFTY 500's +276% — ahead of the index over the full window. — as of 31 July 2026.
Will Steel Strips Wheels Ltd's share price go up?
This page publishes no price forecast for Steel Strips Wheels Ltd. What it measures instead: the share price is ₹310, the price is in a confirmed uptrend 8 weeks in. Its P/E of 23.0× sits at the 98th percentile of its own 3-year range. — as of 31 July 2026.
Who owns Steel Strips Wheels Ltd?
Promoters hold 61.1% of Steel Strips Wheels Ltd, foreign institutions 8.6%, domestic institutions 3.1% and the public 27.1% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 2.3 points over 8 quarters. — as of 31 July 2026.
Does Steel Strips Wheels Ltd have too much debt?
It is moderate — Steel Strips Wheels Ltd's debt-to-equity is 0.46, and operating profit covers the interest bill 4×. FY26 borrowings were ₹828 Cr against equity of ₹1,805 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is Steel Strips Wheels Ltd's capex?
Steel Strips Wheels Ltd spent ₹964 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹191 Cr, with ₹154 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Steel Strips Wheels Ltd's cash flow?
Steel Strips Wheels Ltd generated ₹332 Cr of operating cash flow in FY26 and ₹141 Cr of free cash flow after ₹191 Cr of capital spending. Reported profit that year was ₹190 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Steel Strips Wheels Ltd's profit real cash?
Yes — over the last 3 fiscal years, 98% of Steel Strips Wheels Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹332 Cr against reported profit of ₹190 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 31 July 2026.
Where is Steel Strips Wheels Ltd in its business cycle?
Steel Strips Wheels Ltd's FY26 operating margin was 10.0%, against a 5-year band of 10.0%–13.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 11.0%. 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 Steel Strips Wheels Ltd story?
The sharpest disagreement: the price moved +43.1% in a year while annual EPS moved −2.7% — the difference is re-rating, and re-rating has to be repaid with earnings. 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 Steel Strips Wheels Ltd a stock worth studying right now?
This is not investment advice. The machine read: Steel Strips Wheels Ltd's price has outrun its earnings. +43.1% in a year against EPS −2.7% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has 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.