Steel Strips Wheels Limited (SSWL), a prominent player in the automotive wheel manufacturing sector, has announced robust financial performance for August 2025, showcasing growth across multiple segments.

Revenue Highlights

SSWL reported a net turnover of ₹385.98 crores in August 2025, marking a 6.3% year-over-year increase from ₹363.10 crores in August 2024. The company's gross turnover also saw a significant uptick, reaching ₹475.06 crores, up 7.44% from ₹442.15 crores in the same month last year.

Segment-wise Performance

The company's growth was driven by strong performances across various segments:

• Aluminium Products: Demonstrated exceptional growth with a 30% increase in value and a 21% rise in volume year-over-year.
• Tractor Segment: Achieved its highest-ever monthly sales, growing by 10% in value and 17% in volume.
• Truck Segment: Showed solid growth with a 9% increase in value and a 14% rise in volume.
• Two and Three-Wheeler Segment: Maintained stability with no change in value but a slight 1% increase in volume.

However, the passenger car steel wheel segment faced challenges, experiencing a decline of 37% in value and 22% in volume.

Export Performance

Despite the overall positive domestic performance, SSWL's exports saw a significant decline, with a 29% decrease in value and a 58% reduction in volume compared to the previous year.

Market Implications

The diverse performance across segments highlights SSWL's ability to navigate varying market conditions. The strong growth in aluminium products and the tractor segment, in particular, demonstrates the company's adaptability and strength in these areas.

While the passenger car steel wheel segment and exports faced headwinds, the overall revenue growth suggests that SSWL's diversified product portfolio has helped mitigate these challenges.

As Steel Strips Wheels continues to navigate the dynamic automotive market, investors and industry observers will be keen to see how the company leverages its strengths in the growing segments while addressing the areas of decline in the coming months.

Steel Strips Wheels Limited (SSWL) reported strong financial results for the first quarter, with revenue growing 15% year-on-year. The company's performance was driven by robust growth in exports and the alloy wheel segment, while also securing new business opportunities in Europe.

Financial Highlights

• Revenue increased by 15% year-on-year
• Profit after tax rose 8% from INR 46.00 crores to INR 50.00 crores
• EBITDA stood at INR 125.00 crores, marking a 6.1% year-on-year growth
• Export revenue surged 30% from INR 123.00 crores to INR 160.00 crores

Segment Performance

The alloy wheel segment emerged as a standout performer, with its contribution to overall revenue increasing from 29% to 35% year-on-year. The company expects this upward trend to continue in the coming quarters.

The tractor segment also saw decent growth, primarily due to favorable monsoon conditions and sustained export momentum. However, the commercial vehicle (CV) segment faced challenges due to regulatory changes requiring AC cabins in all newly manufactured medium and heavy commercial vehicles from October 1, 2025.

Export Strategy and European Expansion

SSWL is implementing a derisking strategy to reduce its dependence on the U.S. market, focusing on Europe and South America. The company's U.S. export share has already been reduced from 70% to 52%.

In a significant development, SSWL announced receiving nominations worth INR 300.00 crores from European OEMs for steel wheels. The company is also in the process of incorporating a wholly-owned subsidiary in the European Union to cater to the growing demand in the region.

Aluminum Knuckle Segment

The company's new aluminum knuckle segment, which commenced commercialization in the third quarter of last year, sold approximately 50,000 knuckles to multiple OEMs, generating revenue of INR 13.20 crores in Q1.

Future Outlook

Despite uncertainties surrounding U.S. tariffs, SSWL remains optimistic about its growth prospects. The company is expanding its alloy wheel and knuckle capacities, with plans to reach a production pace of 65,000 to 75,000 knuckles per month by January-March 2027.

SSWL expects to maintain its EBITDA per wheel at current levels, with potential for improvement as the alloy wheel and knuckle segments gain more prominence in the overall revenue mix.

The company anticipates closing the fiscal year with a combined long-term and short-term debt in the range of INR 850.00 crores to INR 900.00 crores, with a cost of debt between 7% to 7.5%.

As Steel Strips Wheels Limited continues to diversify its product portfolio and expand its global footprint, the company appears well-positioned to capitalize on emerging opportunities in the automotive wheel market, particularly in Europe and South America.