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Employees: 8,683
Size Wheels India (WHEELS.NS) is an India Consumer Discretionary company (Auto Parts: OEM) with a market value of $597M, the 779th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,315 on 6 Nov 2026.
Performance Over six months the shares gained 74.3%, against -15.2% for the median peer and 0.0% for the India market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 17.5% over the last twelve months (peer median +4.4%); the operating margin is 5.4% (peer median 5.7%).
Valuation It trades at 1.0× enterprise value to sales against a peer median of 1.6× (8th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 11.6 points above its cost of capital (10.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹56.9B | ₹54.6B | ₹47.4B | ₹49.8B | ₹46.4B |
| Revenue growth | — | +15% | -5% | +7% | — |
| Gross profit | ₹10.9B | ₹6.26B | ₹4.78B | ₹4.05B | ₹3.59B |
| EBITDA | ₹4.31B | ₹4.23B | ₹3.54B | ₹2.67B | ₹2.22B |
| Net income | ₹1.63B | ₹1.55B | ₹1.11B | ₹628M | ₹554M |
| Free cash flow | n/a | ₹1.78B | ₹1.68B | ₹630M | ₹1.13B |
| Capital expenditure | n/a | ₹2.77B | ₹2.09B | ₹1.50B | ₹1.55B |
| Total debt | n/a | ₹7.68B | ₹7.37B | ₹7.78B | ₹8.19B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WHEELS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.3% | -5.6% | 2nd highest of 21 |
| 6-month return | +74.3% | -15.2% | highest of 21 |
| Distance from 52-week high | -8.0% | -34.9% | highest of 21 |
| Revenue growth (TTM) | +17.5% | +4.4% | 2nd highest of 21 |
| Operating margin | 5.4% | 5.7% | 9th lowest of 21 |
| EV / Sales | 1.0× | 1.6× | 8th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 10.4% | 2.3% | 5th most demanding of 15 |
| Growth delivered (Del g) | +17.8% | +7.8% | 3rd highest of 15 |
| Hurdle (Req g minus delivered) | -7.4 pp | -3.8 pp | 7th least demanding of 15 |
| ROIC minus cost of capital | +11.6 pp | -1.8 pp | 2nd highest of 21 |
| EV / EBITDA | 13.1× | 4.6× | 2nd most expensive of 8 |
| Net debt / EBITDA | 1.8× | -0.1× | 2nd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wheels India WHEELS.NS | India | $597M | +74% | +17% | 5% | 1.0× | 10.4% | +17.8% |
| Jiangsu Nonghua Intelligent Agriculture Technology 000816.SZ | China | $597M | -15% | +14% | 6% | 2.9× | n/a | n/a |
| Harbin Dongan Auto Engine 600178.SS | China | $603M | -15% | +4% | -3% | 1.0× | 14.4% | +1.3% |
| GSP Automotive Group Wenzhou 605088.SS | China | $590M | -45% | +15% | 8% | 0.8× | n/a | n/a |
| BeijingWest Industries International 2339.HK | Hong Kong | $589M | -23% | -3% | 1% | 1.6× | n/a | n/a |
| Shenzhen Kaizhong Precision Technology 002823.SZ | China | $585M | -27% | +10% | 8% | 1.6× | -3.3% | +8.8% |
| Shandong Meichen Technology 300237.SZ | China | $613M | +23% | -3% | -7% | 3.2× | 2.6% | -10.1% |
| Jamna Auto Industries JAMNAAUTO.NS | India | $580M | +4% | +16% | 13% | 2.1× | 11.8% | +19.3% |
| ActBlue 300816.SZ | China | $577M | -34% | +30% | 7% | 3.0× | 21.5% | +9.9% |
| TPR 6463.T | Japan | $620M | +23% | +1% | 6% | 0.6× | -0.4% | +4.6% |
| Dalian Demaishi Precision Technology 301007.SZ | China | $571M | -31% | 0% | 6% | 6.1× | 34.5% | +7.6% |
| G-Tekt 5970.T | Japan | $570M | +16% | +5% | 5% | 0.3× | n/a | n/a |
| Chongqing Qin'an M&E 603758.SS | China | $567M | -25% | -1% | 6% | 2.5× | 8.8% | +8.2% |
| Jiangsu Changshu Automotive Trim 603035.SS | China | $567M | -23% | +17% | 2% | 0.8× | -8.4% | +26.2% |
| Npr-riken 6209.T | Japan | $630M | -5% | -3% | 7% | 0.6× | 2.1% | -3.1% |
| Zhongjie (Jiangsu) Technology 301072.SZ | China | $630M | +63% | +11% | -6% | 5.0× | n/a | n/a |
| Bando Chemical Industries 5195.T | Japan | $632M | +17% | +6% | 9% | 0.7× | -0.1% | +7.9% |
| Burelle BUR.PA | France | $635M | -23% | -3% | 2% | 0.3× | -4.4% | +7.6% |
| Landai Technology 002765.SZ | China | $637M | -31% | -2% | -1% | 1.6× | n/a | n/a |
| Hamaton Automotive Technology 300643.SZ | China | $559M | -10% | +7% | 18% | 2.6× | 6.4% | +9.1% |
| Depo Auto Parts Industrial 6605.TW | Taiwan | $642M | -1% | -6% | 15% | 1.2× | -12.3% | +6.4% |