Steel Strips Wheels Limited (SSWL) has reported strong financial performance for November 2025, showcasing significant year-over-year growth in both gross and net turnover.

Key Financial Highlights

Growth Analysis

SSWL's financial results for November 2025 demonstrate a robust growth trajectory:

• Net Turnover Growth: The company achieved a 17.93% year-over-year increase in net turnover, rising from ₹371.52 crore in November 2024 to ₹438.13 crore in November 2025.
• Gross Turnover Expansion: Gross turnover also saw growth, increasing by 10.98% from ₹455.05 crore in the previous year to ₹505.02 crore in November 2025.
• Growth Momentum: The difference between net and gross turnover growth rates suggests improved operational efficiency or favorable market conditions, as net turnover growth outpaced gross turnover growth.

Company Performance

The financial results indicate that SSWL has maintained its growth in the automotive wheel manufacturing sector. The company's double-digit growth in both gross and net turnover reflects positively on its market position and operational strategies.

Market Implications

These results may be viewed favorably by investors and market analysts, as they demonstrate SSWL's growth in the automotive components industry. The company's performance could indicate positive trends in the sector or SSWL's success in capturing market share.

Investors may monitor future performance to assess the sustainability of this growth trajectory and its implications for long-term value creation.

Steel Strips Wheels Limited (SSWL) has reported a 13% year-on-year revenue growth to INR 2,387.00 crores for the first half of fiscal year 2026, despite facing headwinds in its U.S. export business. The company's performance reflects resilience in domestic markets and strategic shifts in its product mix.

Financial Highlights

• Revenue: INR 2,387.00 crores (13% YoY growth)
• EBITDA: INR 234.00 crores (flat YoY)
• U.S. Exports: 26% decline due to tariff impacts

Segment Performance

Alloy Wheels

The alloy wheels segment emerged as a standout performer for SSWL:

• Revenue Contribution: 36% of total revenue
• Volume: 18 lakh units sold

Aluminum Knuckles

SSWL's new aluminum knuckles business showed promising results:

• Revenue: INR 33.00 crores
• Volume: 1.24 lakh units

Export Challenges and Market Shift

SSWL faced significant challenges in its U.S. export business due to tariff impacts. However, the company has been proactively addressing this issue by:

1. Increasing focus on European markets
2. Diversifying its export portfolio

The shift in export strategy is evident from the following data:

Future Outlook

1. Capacity Expansion:

   • Alloy Wheels: Plans to expand from 4.2 million to 5 million wheels
   • Aluminum Knuckles: Increasing capacity from 2.5 lakhs to 5 lakhs

2. Capex Plans:

   • Total planned capex for FY26: INR 250.00 crores
   • Major focus on alloy wheels and knuckles segments

3. Domestic Market:

   • Positive outlook supported by GST reforms
   • Strong performance expected in two-wheeler and passenger vehicle segments

4. Export Strategy:

   • Continued focus on European market expansion
   • Monitoring U.S. tariff situation for potential recovery

SSWL's Deputy Managing Director, Mr. Mohan Joshi, commented on the results, stating, "Despite challenges in our U.S. export business, we've seen strong growth in our alloy wheels segment and promising results from our new aluminum knuckles business. We're actively diversifying our export markets and investing in capacity expansion to drive future growth."

As SSWL navigates through export challenges, its focus on product diversification and market expansion appears to be a strategic move to ensure sustained growth in the coming quarters.