Steel Strips Wheels Q1 profit jumps 43% to ₹71.5 cr
Revenue climbs 27% to ₹1,509.82 cr, putting the FY27 EBITDA target of ₹650 cr within reach. A strong start to the year, though the market expected a solid quarter.
— 4 earlier stories on Steel Strips Wheels Ltd. →What's new
- Standalone net profit surged 43% YoY to ₹71.51 cr in Q1 FY27.
- Revenue from operations rose 27% to ₹1,509.82 cr.
- Consolidated net profit climbed 47% to ₹69.45 cr.
Why this matters
The quarter marks a strong opening to FY27, building on the ₹61 cr profit in Q4 FY26. This trajectory keeps management's ₹650 cr EBITDA target credible, though the filing offers no strategic surprises beyond the numbers.
What we're watching
- Whether the growth pace persists into Q2, given the base effect.
- Progress on the planned ₹500 cr Bhuj plant expansion.
- Any update on the Customs notice paid in June.
The full read
Strong. Steel Strips Wheels kicked off FY27 with standalone net profit of ₹71.51 crore, up 43% from a year ago, on revenue of ₹1,509.82 crore (up 27%). Consolidated profit rose 47% to ₹69.45 crore. The quarter builds on the ₹61 crore profit in Q4 FY26, keeping management's ₹650 crore EBITDA target for the year on track and supporting the rationale for the planned ₹500 crore Bhuj plant expansion. No surprises here. The stock trades at 19x trailing earnings and 12% ROE. The next test is whether this growth rate holds as the base normalises.
Questions answered
- How does Q1 profit compare to the previous quarter?
- Standalone net profit of ₹71.51 cr was up from ₹61 cr in Q4 FY26. Revenue grew from ₹1,475 cr.
- What is the FY27 EBITDA target and how does Q1 fit in?
- Management targets ₹650 cr EBITDA for FY27. With a strong Q1, the company is on track, but the filing does not break out EBITDA.
- Are these results a surprise to the market?
- No. The analyst note describes them as a standard quarterly release with no material deviation from established trends. The market would have broadly anticipated these numbers.
- What about the recent Customs notice?
- In June, SSWL paid ₹1.70 cr in alleged duty drawback and RoDTEP violations before a formal notice was issued. The Q1 results do not mention any further liability.
- How does the valuation look after this quarter?
- At a trailing P/E of 19x and ROE of 12%, the stock is reasonably valued for an auto ancillary. The 43% profit growth could improve multiples if sustained.
Steel Strips Wheels Ltd.
Latest quarter · Jun 2026
Strength & growth
Story so far
All notes on SSWL →- 15 Jul 2026 · 1:15 PM IST Steel Strips Wheels Q1 profit jumps 43% to ₹71.5 cr
- today Steel Strips Wheels sees steel wheel revival, lifts capex to ₹650 cr, delays knuckle
- 1d ago Steel Strips Wheels Q1 profit jumps 43% to ₹71.5 cr
- 29d ago Steel Strips Wheels pays ₹1.7 cr Customs notice before it's even issued
- 41d ago SSWL sets ₹650 cr EBITDA target for FY27, plans ₹500 cr Bhuj plant