Steel Strips Wheels lifts standalone profit 208.5% to 118.8 crore rupees
Key Facts
Steel Strips Wheels reported a 208.5% year-on-year rise in standalone net profit in the second quarter of fiscal 2027, to 118.8 crore rupees, according to a company filing with the Bombay Stock Exchange cited by ScoutQuest. Standalone operating revenue was 1,929.9 crore rupees, up 60.7% from the same period. The company also recorded EBITDA of 234.8 crore rupees. The metric's margin rose to 12.2%, compared with 9.3% a year earlier. The results show profit growing faster than revenue, alongside an improvement in the reported operating margin.
In the first six months of fiscal 2027, standalone operating revenue was 3,439.7 crore rupees, up 44.1% year on year, while standalone net profit reached 190.3 crore rupees, according to the filing cited by ScoutQuest. That places the second-quarter figures within a half-year period of revenue expansion, with revenue growing more slowly in the first half than the company recorded in the second quarter. On a consolidated basis, first-half revenue was 3,439.74 crore rupees, compared with 2,387.35 crore rupees in the first half of fiscal 2026, Autocar Professional reported. Consolidated first-half net profit was 186.40 crore rupees, compared with 82.76 crore rupees a year earlier. These figures differ from the company's standalone results, as each basis covers a different scope of calculation.
In the second quarter, consolidated EBITDA was 231.34 crore rupees, compared with 112.48 crore rupees in the same period of fiscal 2026, according to Business Standard. The consolidated EBITDA margin rose to 11.98% from 9.37% a year earlier. The comparison supports a picture of improving margins on both accounting bases, standalone and consolidated, though their figures differ. The company attributed the margin expansion to a favorable product mix, a higher export contribution and cost improvements, according to its filing cited by ScoutQuest. The company also said return on capital employed was 24% in September 2026, compared with 16% in fiscal 2026. As reported by the company, this indicator compares the September level with the result recorded in the previous fiscal year.
The board approved a project to build a new plant in Chhatrapati Sambhajinagar, Maharashtra, to produce alloy and steel wheels and establish a hot-stamping line, at an estimated total cost of 1,400 crore rupees. The company filing said spending would be spread over an estimated 60 months, with execution subject to the required approvals and permits. Under the plan details reported by Business Standard, 815 crore rupees was allocated to alloy wheels, 410 crore rupees to passenger-vehicle and off-highway wheels, and 175 crore rupees to stamping passenger-car body parts. Production capacity is expected to be added within 60 months of the start of execution, subject to obtaining approvals and permits. The company said the project would be funded through a mix of debt and internal resources. The plan represents a multi-year investment commitment, while the timing of execution remains linked to completion of the required approvals.
The results announcement coincided with a 19% rise in the company's shares to 467.30 rupees during trading on 23 October 2026, a record level at the time, according to Business Standard. The stock surpassed its previous peak of 434.05 rupees, recorded on 6 October 2026. Investors also traded 16.63 million shares on the NSE and BSE during intraday trading, equivalent to 10.6% of the company's total shares. The fiscal 2026 annual report said electric passenger-vehicle registrations rose by more than 80% in fiscal 2025-2026. The report said multi-year spending plans by original equipment manufacturers support expectations of continued volume growth in fiscal 2026-2027 and beyond. At the same time, the annual report said higher oil prices and supply-chain disruptions are pressuring fuel, freight and input costs, while rising protectionism in export markets poses a risk to Indian auto exports.