Steel Strips Wheels reported a net turnover of ₹485.98 crore for May 2026, registering an 18.43% year-on-year growth from ₹410.35 crore in the same period last year. Gross turnover reached ₹560.03 crore, up 11.84% from ₹500.76 crore in May 2025. The company attributed the top-line trajectory to domestic demand dynamics and a shift towards premium product lines.

The performance highlights a divergence between value and volume growth, with overall value increasing by 18% while volume grew by 4%. This variance indicates a transition toward higher-margin products, particularly in the aluminum wheels vertical, which saw a 30% revenue expansion. The 2 & 3 wheelers segment emerged as a key growth driver, posting a 50% increase in value and a 30% rise in volume, supported by the adoption of Electric Vehicles.

Sectoral Trends & Operational Performance

The Tractor segment demonstrated resilience with a 21% growth in value and 17% in volume, reflecting positive rural cash flows. Conversely, the Passenger Car segment faced inventory corrections, resulting in a 10% decline in value and a 9% drop in volume. Exports were impacted by global shipping constraints, falling by 21% in value and 59% in volume.

The following table summarizes segment-wise year-on-year performance for May 2026:

Operational Outlook

The company stated that the structural shift towards premium products like aluminum wheels positions it to maximize realization trends. Management remains focused on optimizing product-mix margins and utilizing capacity efficiently to navigate market conditions.

Steel Strips Wheels Limited reported its highest ever revenue of ₹5,182.8 Cr for the financial year ended March 31, 2026, representing a 17% YoY growth. The company's Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, during a meeting held on May 29, 2026. The Board recommended a final dividend of 150%, or ₹1.50 per equity share, subject to shareholder approval at the ensuing Annual General Meeting. Despite the revenue growth, Profit After Tax (PAT) declined by 3.7% YoY to ₹202.1 Cr, impacted by margin pressures from a slowdown in exports and rising raw material costs.

FY26 Financial Performance

For the full year, EBITDA stood at ₹511.1 Cr, an increase of 5.0% YoY. The statutory auditors provided an unmodified opinion on the financial results. Net Capex of ₹196 Cr was incurred through FY26 towards incremental capacity expansion, largely focused on aluminium wheels and aluminium knuckles.

Q4 FY26 Results

In the fourth quarter, revenue rose 19.5% YoY to ₹1,474.6 Cr. Q4 PAT increased by 4.5% YoY to ₹64.46 Cr. EBITDA grew to ₹149.3 Cr, with the Q4 EBITDA margin coming in at 10.1% compared to 10.9% in the same period of the prior year. Exports, which typically contribute higher margins, saw a decline of 38% YoY in Q4FY26 and were down 19% YoY in FY26.

Operational Highlights

The company reported volume growth across key segments for FY26. Alloy wheels volumes increased by 19%, tractor wheels by 23%, and truck wheels by 11%. The company expects a ~1.2 million capacity addition in Alloy Wheels aiming to ramp up the total capacity up to 6.96 million units.

The trading window closure, which commenced on April 1, 2026, will remain in effect until 48 hours after the declaration of the audited financial results.