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Employees: 10,214
Size Steel Strips Wheels (SSWL.NS) is an India Consumer Discretionary company (Auto Parts: OEM) with a market value of $898M, the 626th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹540.25 on 6 Nov 2026.
Performance Over six months the shares gained 152.6%, against -25.3% for the median peer and 0.0% for the India market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 32.8% over the last twelve months (peer median +3.5%); the operating margin is 8.4% (peer median 5.9%).
Valuation It trades at 20.4× forward earnings against a peer median of 15.7× (7th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.6 points below its cost of capital (14.2% WACC).
Next results Next results expected around 27 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹62.4B | ₹51.8B | ₹44.2B | ₹43.4B | ₹40.3B |
| Revenue growth | — | +17% | +2% | +8% | — |
| Gross profit | ₹14.7B | ₹6.76B | ₹6.37B | ₹6.27B | ₹6.12B |
| EBITDA | ₹6.76B | ₹5.25B | ₹4.90B | ₹4.69B | ₹4.62B |
| Net income | ₹2.94B | ₹1.90B | ₹1.95B | ₹6.75B | ₹1.94B |
| Free cash flow | n/a | ₹169M | ₹1.89B | -₹2.78B | ₹1.40B |
| Capital expenditure | n/a | ₹1.93B | ₹2.12B | ₹3.83B | ₹1.37B |
| Total debt | ₹9.14B | ₹8.28B | ₹8.28B | ₹10.5B | ₹6.38B |
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| Measure | SSWL.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +27.4% | -1.8% | highest of 21 |
| 6-month return | +152.6% | -25.3% | highest of 21 |
| Distance from 52-week high | -3.3% | -41.7% | highest of 21 |
| Revenue growth (TTM) | +32.8% | +3.5% | 3rd highest of 21 |
| Operating margin | 8.4% | 5.9% | 6th highest of 21 |
| Forward P/E | 20.4× | 15.7× | 7th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 25.4% | 7.3% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +24.3% | +9.1% | 2nd highest of 11 |
| Hurdle (Req g minus delivered) | +1.1 pp | -8.1 pp | 4th most demanding of 11 |
| ROIC minus cost of capital | -0.6 pp | +0.5 pp | 10th lowest of 20 |
| EV / EBITDA | 13.9× | 7.2× | 3rd most expensive of 6 |
| Net debt / EBITDA | 1.3× | 1.1× | 4th least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Steel Strips Wheels SSWL.NS | India | $898M | +153% | +33% | 8% | 20.4× | 25.4% | +24.3% |
| FAWER Automotive Parts 000030.SZ | China | $897M | -28% | -7% | 0% | n/a | 4.9% | +9.4% |
| Autoneum AUTN.SW | Switzerland | $896M | +7% | -1% | 6% | 11.7× | -7.5% | +5.6% |
| ZYNP Corporation 002448.SZ | China | $896M | -32% | +26% | 13% | 10.8× | -3.0% | +16.9% |
| Chuzhou Duoli Automotive Technology 001311.SZ | China | $894M | -36% | +45% | 7% | 15.6× | n/a | n/a |
| Jiangsu Riying Electronics 603286.SS | China | $891M | -22% | +1% | -5% | n/a | n/a | n/a |
| Pricol PRICOLLTD.NS | India | $916M | +15% | +39% | 9% | 29.7× | n/a | n/a |
| Hunan Tyen Machinery 600698.SS | China | $918M | -5% | +17% | -7% | n/a | n/a | n/a |
| Zhejiang ZhaoFeng Mechanical & Electric 300695.SZ | China | $875M | -6% | +4% | 11% | 56.5× | n/a | n/a |
| Fujian Longxi Bearing (Group) 600592.SS | China | $926M | -19% | -2% | 11% | 28.9× | 14.0% | +3.0% |
| Changchun FAWAY Group Automobile Components 600742.SS | China | $863M | -18% | -20% | 2% | 11.2× | n/a | n/a |
| Musashi Seimitsu Industry 7220.T | Japan | $861M | -52% | +4% | 6% | 15.9× | 9.7% | +11.1% |
| Nishikawa Rubber 5161.T | Japan | $852M | +15% | +3% | 8% | n/a | -2.9% | +8.8% |
| Wuxi Longsheng Technology 300680.SZ | China | $849M | -37% | +4% | 7% | 25.4× | 12.1% | +35.6% |
| Ningbo TIP Rubber Technology 605255.SS | China | $959M | -53% | -9% | 5% | n/a | 47.5% | +0.9% |
| Shanghai Baolong Automotive 603197.SS | China | $840M | -23% | +26% | 5% | 14.5× | n/a | n/a |
| Xinzhi 002664.SZ | China | $839M | -32% | +16% | 2% | 54.6× | n/a | n/a |
| Hyundai Wia 011210.KS | South Korea | $962M | -41% | +12% | 2% | 10.2× | -11.0% | +5.2% |
| Aisan Industry 7283.T | Japan | $828M | +18% | +2% | 6% | 8.3× | n/a | n/a |
| Wuhu Atech Automotive 603293.SS | China | $819M | -39% | +4% | 7% | n/a | n/a | n/a |
| Wuhan Lincontrol Automotive Electronics 688667.SS | China | $809M | -31% | -19% | 12% | 33.1× | 26.5% | +9.4% |