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Wheels India Ltd

₹ 869-1.75%
05 Jan – close price
🔗wheelsindia.com•BSE: 590073•NSE: WHEELS
Market Cap₹ 2,124 Cr.
Current Price₹ 869
High / Low₹ 979
Stock P/E18.8
Book Value₹ 371
Dividend Yield1.33 %
ROCE16.1 %
ROE12.7 %
Face Value₹ 10.0
Sales₹ 4,605 Cr.
OPM7.49 %
Mar Cap₹ 2,124 Cr.

ABOUT

Wheels India is engaged in the Business of Manufacture of Road Wheels , Parts & Accessories for Machinery / Equipments used by construction and mining industries and Wind Turbine Parts.[1]

KEY POINTS

Product Portfolio[1]Automotive Wheels Division(covering cars, trucks, and tractors),Construction Equipment Division(which provides for wheels, fabrications, and hydraulic cylinders),Energy Products Division(focused on the wind turbine sector and railways), andAir Suspension & Lift Axle Division. Additionally, their subsidiary, WCWL, manufactures steel wheels for light passenger vehicle

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsCapacity Expansion And ProductsLarge Order ReceiptsJv Partnerships Acquisitions

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Samvardh. Mothe.121.8138.39128563.670.47845.63-3.2530172.978.4913.66117367.728.863348.88851.183.464.600.53
2.Bosch39170.0050.86115526.591.31554.2010.824794.809.1121.1118959.7013.112271.53554.208.2410.700.01
3.Uno Minda1336.6070.5477128.720.17322.7927.144814.0313.4118.8318015.4311.541093.46303.9912.389.360.46
4.Bharat Forge1482.3065.5670867.080.57299.2822.834031.939.3112.1815268.8317.661080.93299.207.574.720.71
5.Schaeffler India3821.7053.4559734.570.73306.6524.082360.1413.8625.678834.5718.981117.62306.6510.8514.850.01
6.Tube Investments2530.0078.1148957.950.14302.05-9.735522.6412.1521.8020793.889.22626.78186.666.517.330.09
7.Endurance Tech.2548.4041.0335846.520.39227.2711.973582.8223.0117.2612724.3613.48873.65227.275.739.210.20
8.Wheels India869.2518.832123.841.3327.7726.691173.028.2216.144604.757.49112.7727.772.343.610.79
–Median: 125 Co.459.830.271336.060.3812.9210.9213.1511.1114.96827.2412.0638.9110.773.186.560.38

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
1,0041,1301,0571,1281,0831,1831,1681,1641,1921,1031,1841,0841,173
Expenses
9561,0699781,0691,0091,0981,0991,0711,0951,0451,1361,0081,089
Operating Profit
48627959748570939758487684
Other Income
14115644332516
Profit before tax
2016301733362949481962937
Tax %
25%23%25%22%23%26%22%25%26%25%19%25%25%
Net Profit
1513231325262237361552228
EPS in Rs
6.385.159.245.4910.3810.829.3015.0714.736.042.148.9711.37

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,8231,9801,9872,1732,4603,1812,4292,2123,6874,3214,6074,4154,605
Expenses
1,6761,8301,8151,9872,2692,9482,2622,0733,4364,0994,3434,0894,260
Operating Profit
148150172186191233166139250223264327345
Other Income
23232281041424121014
Interest
55595848456262536396108110113
Depreciation
55546064677070819568798694
Profit before tax
3940567710110845101078289141152
Net Profit
283040587276547806268106113
EPS in Rs
11.7912.3416.5924.2229.7831.4422.492.8033.1625.9627.7843.3246.16
Dividend Payout %
35%30%27%27%25%25%25%36%25%27%27%27%–

Compounded Profit Growth

10 Years:13%
5 Years:14%
3 Years:10%
TTM:17%

Compounded Sales Growth

10 Years:8%
5 Years:13%
3 Years:6%
TTM:3%

Return on Equity

10 Years:10%
5 Years:9%
3 Years:10%
Last Year:13%

Stock Price CAGR

10 Years:5%
5 Years:12%
3 Years:15%
1 Year:25%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
12121212122424242424242424
Reserves
352369402450503545573575651680770847882
Borrowings
332389386369359453584630838776727716718
Other Liabilities
4374734955326507815809891,2161,3251,3411,4201,473
Total Liabilities
1,1321,2441,2951,3621,5241,8031,7622,2182,7292,8052,8613,0083,097
Fixed Assets
4655105185264916006487837729339781,1741,208
Gross Block
941.521,042.171,106.481,164.191,108.401,278.671,392.651,603.431,663.361,888.862,008.362,262.31–
Accumulated Depreciation
476.18532.63588.07637.85617.56678.23744.79820.75890.94956.311,030.521,088.24–
CWIP
481217223642134438570754662
Investments
1716171216171717149122449
Other Assets
6027067438029801,1449631,3761,8571,7931,7961,7631,779
Total Assets
1,1321,2441,2951,3621,5241,8031,7622,2182,7292,8052,8613,0083,097

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
14684148155117175159138-16359314400
Cash from Investing Activity
-75-66-69-75-40-183-199-110-116-145-141-255
Cash from Financing Activity
-70-14-82-75-74-052-27122-210-140-146
Net Cash Flow
14-253-8121-10433-0

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
6168647371646911786645766
Inventory Days
70658471766685122105999388
Days Payable
93981041081029696190131119117132
Cash Conversion Cycle
383544374434574960443422
Working Capital Days
-15151020129177-40-4
ROCE %
14%13%14%15%16%18%10%5%12%12%13%16%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
58.10%58.73%58.73%58.31%58.31%58.31%58.31%58.31%58.31%58.31%58.31%58.31%
FIIs
0.40%0.42%0.21%0.26%0.19%0.29%0.81%0.42%0.34%0.38%0.57%1.08%
DIIs
20.02%20.02%20.02%18.81%18.32%13.13%12.16%11.99%11.68%11.68%11.64%10.68%
Public
21.48%20.83%21.04%22.61%23.18%28.27%28.72%29.28%29.67%29.63%29.48%29.93%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Wheels India Files SEBI Compliance Certificate for Q4 FY26 Dematerialisation

6th April 2026, 11:22 pm

Wheels India Limited: Chairman S Ram Resigns Effective March 30, 2026

1st April 2026, 5:34 pm

Wheels India Appoints New Chairman, Reconstitutes Board Committee

30th March 2026, 8:18 pm

Wheels India to close trading window from April 1, 2026

27th March 2026, 5:46 pm

Wheels India Limited: India Ratings Upgrades Long-Term Facilities, Affirms Short-Term Ratings

21st February 2026, 12:06 am

Published by Other Websites

External media mentions & references

Pharma & Auto Stocks: Analyst Picks for Today's Trading Gains

27th March 2026, 6:46 am

Market Crash: Nifty, Sensex Plunge; Select Stocks Hit 52-Week Highs

19th March 2026, 5:25 pm

Q3 Earnings Radar: Marico Invests, Trent Surges, Cummins Dips Feb 5

5th February 2026, 7:38 am

Wheels India's Profit Surge: Policy Tailwinds & Cost Pressures

29th January 2026, 3:54 pm

Wheels India Strikes Gold: Mega Tech Deal with Japan's Topy Industries to Revolutionize Alloy Wheel Production!

15th December 2025, 3:44 pm

News Articles

Editorial & research coverage

Wheels India's Profit Surge: Policy Tailwinds & Cost Pressures
Wheels India's Profit Surge: Policy Tailwinds & Cost Pressures

29th January 2026, 3:54 pm

Wheels India Skyrockets on Japan Tech Tie-Up! Hyundai & VW Orders Fueling Growth Surge!
Wheels India Skyrockets on Japan Tech Tie-Up! Hyundai & VW Orders Fueling Growth Surge!

15th December 2025, 11:19 am

Wheels India Posts Robust Q3 Results, Profit Surges 42% YoY
Wheels India Posts Robust Q3 Results, Profit Surges 42% YoY

Documents

Announcements

Closure of Trading Window

29 Dec - Trading window closed from Jan 1, 2026 until 48 hours after unaudited Q3/9M results for Dec 31, 2025.

Wheels India signs technical agreement with Japan's Topy Industries

15 Dec - Signed technical agreement with Topy; new Hyundai & Volkswagen orders; capacity 5→7 lakh next quarter, 10 lakh by FY27.

Newspaper Advertisement - Regulation 47 of the SEBI (LODR) Regulations, 2015 (''SEBI LODR'')

12 Dec - Newspaper ads (Dec 12, 2025) about proposed transfer of Wheels India shares to IEPF.

Newspaper Advertisement

5 Dec 2025 - Ad published in Financial Express and Hindu Tamil on Dec 5, 2025 per SEBI LODR Reg.47

Intimation of Analysts/ Institutional meet

21 Nov 2025 - Analysts/institutional meeting on Nov 27, 2025 with ICICI Securities group, in-person group meeting in Chennai.

Annual Reports

Financial Year 2024

(from web)

Financial Year 2023

(from web)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2012

(from nse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

21 Feb 2025 from fitch

Rating update

24 Jan 2025 from icra

Rating update

28 Mar 2024 from icra

Rating update

23 Feb 2024 from fitch

Rating update

20 Mar 2023 from icra

Rating update

27 Jan 2023 from icra

Concalls

Oct 2025

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Aug 2025

PPT

May 2025

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Jan 2025

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Oct 2024

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Jul 2024

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May 2024

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Nov 2023

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Sep 2023

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Jun 2023

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Nov 2022

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Aug 2021

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May 2021

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Stock Analysis

Description

Wheels India Limited is a manufacturer of automotive and industrial components, specializing in road wheels, construction and mining equipment parts, wind turbine components, and air suspension systems.

Key Growth Triggers

  1. Strategic technical agreements with global players like Japan's Topy Industries for aluminium wheel production and South Korea's SHPAC for hydraulic cylinders are set to enhance product capabilities.
  2. Planned capacity expansions and a focus on growing export markets are expected to drive future revenue streams.

Order Book

Currently no data available for Order Book.

Key Red Flags

  1. The company has shown a relatively low return on equity (ROE) of 12.7% in the latest reported period, and historically averaged around 10.4% over the last three years, indicating potential for improvement in profitability relative to shareholder equity.

Key Dates To Watch

  1. The company submitted a compliance certificate for the quarter ended December 31, 2025, on January 7, 2026.

Corporate Announcements

6th Apr 26
Impact Rating: 3
Wheels India Limited has filed a SEBI compliance certificate for the quarter ended March 31, 2026. Its registrar confirmed correct processing and cancellation of dematerialised securities as per regulations.
1st Apr 26
Impact Rating: 7
Wheels India Limited's Chairman, Mr. S Ram, has resigned effective March 30, 2026, citing his age. The company filed the disclosure with the exchanges on March 31, 2026.
30th Mar 26
Impact Rating: 7
Following a board meeting on March 30, 2026, Wheels India Limited's Mr. S Ram resigned as Chairman. Mr. Srivats Ram will take over as Chairman and Managing Director from March 31, 2026.
27th Mar 26
Impact Rating: 6
Wheels India Limited will close its trading window for designated persons and their immediate relatives from April 1, 2026, until 48 hours after the declaration of financial results for the quarter/year ended March 31, 2026.
20th Feb 26
Impact Rating: 6
Wheels India Limited announced credit rating updates from India Ratings. Long-term facilities (₹1,200 Cr) are upgraded to 'IND A+/Stable', with short-term facilities affirmed at 'IND A1'.