Steel Strips Wheels has scheduled its 40th Annual General Meeting for September 30, 2026. The Board of Directors also approved a revised borrowing limit of ₹3,500 crore and re-appointed key directors in its meeting on September 3, 2026.

Leadership and management updates

The re-appointment of Dheeraj Garg as Managing Director marks a reaffirmation of the company's confidence in its existing leadership structure. Garg's continuation in the role is expected to maintain strategic and operational consistency at Steel Strips Wheels. Additionally, Non-Executive Director Sanjay Garg has been re-appointed.

The company also appointed two senior management personnel effective September 3, 2026:

• Vineet Aggarwal designated as Executive Director (Operations)
• Amit Kumar Sharma designated as Vice-President (Personnel & Administration)

Financial and governance approvals

The Board enhanced the borrowing limits under Section 180(1)(c) of the Companies Act, 2013, from the current limit of ₹2,000 crore to ₹3,500 crore. This increase applies apart from temporary loans obtained from the company's banker in the ordinary course of business. The Board also approved the creation of security on assets for borrowings under Section 180(1)(a).

These resolutions require approval from members at the ensuing Annual General Meeting (AGM). The Board also approved the Board's Report for the financial year 2025-26.

AGM schedule

The company has scheduled its 40th Annual General Meeting for September 30, 2026. Shareholders on record as of September 23, 2026 will be eligible for dividend entitlement and voting rights. The meeting will be held in physical mode at the company's registered office in Mohali, Punjab. Sushil Kumar Sikka has been appointed as the scrutinizer for the voting process.

Steel Strips Wheels Limited reported its highest-ever monthly net turnover of ₹592.92 crore for August 2026, a 54% YoY increase from ₹385.98 crore in the same period last year. The company also recorded a gross turnover of ₹687.51 crore, up 45% YoY from ₹475.06 crore in August 2025.

The results reflect improved capacity utilization and strengthened OEM relationships across manufacturing facilities. This marks the second consecutive month of record sales for the auto component manufacturer.

Segment Performance

Growth was broad-based across key verticals, with the aluminum products segment leading value expansion.

The truck segment saw a 53% value rise, supported by sustained commercial vehicle offtake. The two- and three-wheeler segment grew 61% by value, indicating strong demand traction. Passenger car steel and tractor segments posted more modest gains of 21% and 16% by value, respectively.

Export Growth

Exports contributed significantly to the top-line expansion, growing 63% YoY by value despite a modest 7% volume increase. This divergence suggests higher average selling prices or a shift toward higher-value export markets.

What the Numbers Show

The disparity between volume and value growth across segments highlights pricing power and mix shifts. In the aluminum products segment, value growth of 73% outpaced volume growth of 30%, suggesting successful ramp-up of higher-margin EV and passenger vehicle platforms. Similarly, exports saw value surge 63% against only 7% volume growth, indicating favorable realization rates abroad.