Steel Strips Wheels Limited (SSWL), incorporated in 1985 and commencing operations in 1991, is a prominent Indian manufacturer and supplier of Steel Wheel Rims and Alloy Wheels. The company designs, manufactures, and supplies these critical automotive components to a wide array of domestic and international automobile makers. Headquartered in Chandigarh, SSWL is a key entity within the diversified Steel Strips Group. Since 1991, it has established itself as a leading producer of automotive steel wheels, serving both Indian and global manufacturers with a broad spectrum of high-quality products for diverse vehicle types.
The company's core business involves the design and manufacturing of steel and alloy wheel rims, catering to various segments of the automotive industry, including passenger cars, tractors, commercial vehicles, and two/three-wheelers. SSWL operates within India and has a significant international market presence, underscoring its global reach and product acceptance.
Steel Strips Wheels boasts a comprehensive product portfolio designed to meet the demands of multiple automotive industry segments. Their offerings include steel wheel rims, alloy wheel rims, and hot rolling mills. The company manufactures wheels for:
- Two and Three Wheelers
- Passenger Cars
- Multi-Utility Vehicles
- Tractors
- Commercial Vehicles
- Off-the-Road (OTR) Vehicles
SSWL has cultivated expertise in both steel and alloy wheel manufacturing, positioning itself as a holistic solutions provider in the automotive wheel segment.
The company operates 3 production facilities in India with a combined annual production capacity of 17 million wheels. SSWL has a strategic technology partnership with Ring Techs Co. Ltd. (Japan), which highlights its commitment to adopting advanced technologies and enhancing product quality. Its manufacturing infrastructure is equipped with state-of-the-art facilities, leveraging modern technology to adapt to the ever-evolving requirements of the automotive industry.
SSWL serves a distinguished list of clients, including major domestic players like JCB, L&T, Hyundai, and Maruti Suzuki. On the international front, its clientele includes esteemed brands such as BMW, Renault-Nissan, and SsangYong. This extensive and varied client base, spanning both domestic and international markets, is a testament to the company's robust market standing and the recognized quality of its products. The company's ability to cater to passenger vehicles, commercial vehicles, tractors, and specialty vehicles solidifies its position as a comprehensive and significant player in the automotive wheel manufacturing sector.
Steel Strips Wheels Ltd. has a market capitalization of approximately ₹4,050 crore. While the company has demonstrated consistent growth in its operational performance, recent financial results have shown some volatility, largely influenced by exceptional items.
For the full financial year ended March 2025, the company reported a net profit of ₹195.28 crore, a decline of 71.06% compared to ₹674.68 crore in the previous fiscal year ended March 2024. Sales, however, saw a modest increase of 1.65%, reaching ₹4,429.00 crore in FY2025 from ₹4,357.10 crore in FY2024. The significant reduction in net profit was primarily attributed to exceptional items, while revenue remained relatively stable.
In the fourth quarter of FY25, the company's consolidated net profit experienced an 88.23% decrease, falling to ₹60.66 crore compared to ₹515.56 crore in Q4 FY24. Despite this, revenue from operations showed a healthy year-on-year jump of 15.46%, reaching ₹1,233.93 crore for the quarter ending March 31, 2025. The company's board has recommended a final dividend of ₹1.25 per equity share for the financial year 2024-25.
In terms of recent operational performance, Steel Strips Wheels achieved a net turnover of ₹424.11 crore in April 2025, a significant growth of 25.39% compared to ₹338.22 crore in April 2024. Gross turnover also recorded a 25% year-on-year increase, reaching ₹519.02 crore. For May 2025, the company reported a net turnover of ₹470.35 crore, representing a 19.97% year-on-year growth.
Steel Strips Wheels Ltd. has outlined ambitious plans to expand its wheel manufacturing capacity to 5.3 million units by FY26. This expansion is primarily driven by increasing export demand and anticipated orders from key clients like Maruti Suzuki. With a reported revenue of ₹4,429 crore in FY25, the company is strategically focusing on enhancing its alloy wheel production capabilities and doubling its aluminum knuckles capacity. These expansion initiatives underscore SSWL's commitment to meeting escalating market demands and reinforcing its competitive position within the automotive wheel manufacturing sector.
Steel Strips Wheels Limited was listed on the Bombay Stock Exchange (BSE) on August 23, 1989. The company's shares are traded on both the NSE and BSE under the stock symbol SSWL. Promoter holding in Steel Strips Wheels Ltd. has shown an upward trend, increasing to 61.24% as of March 2025 from 60.98% as of June 2024. This steady increase in promoter holding signifies stable confidence and a strong commitment to the company's long-term growth trajectory.
Key competitors for Steel Strips Wheels include prominent players like Accuride Corporation, Dymag, and Superior Industries. The company operates within the highly competitive automotive ancillary industry, where it has carved out a significant niche by offering a comprehensive product range and fostering strong client relationships. Financial analysis suggests that Steel Strips Wheels is financially stable relative to its competitors, with a lower probability of facing bankruptcy or significant financial distress compared to its immediate rivals.
Steel Strips Wheels Limited continues to be a leading and prominent player in India's automotive wheel manufacturing sector. Its strengths lie in its established client relationships, expanding production capacity, and a diversified product portfolio that serves both domestic and international markets effectively.
