Steel Strips Wheels Ltd · NSE:SSWL
Steel Strips Wheels — H1 FY26 Earnings Presentation
33 slides from Steel Strips Wheels's earnings presentation, November 2025
Slide 1: Steel Strips Wheels Limited Investor Presentation
STEEL STRIPS WHEELS LIMITED Delivering Value; Seeking Excellence Investor Presentation November 2025
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Steel Strips Wheels Limited (the “Company”), have bee n prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 3: Company Overview
‘cl sees Strips Wheels Limited Company Overview
Slide 4: Company Overview
Company Overview SSWL is a leader in designing & manufacturing Automotive wheels – both Steel & Alloy Wheels category SSWL aspires to be the Preferred Global Brand of Wheel Solution provider committed to excellence Wheel Plants Strategic Partnerships - 5 Operations Founded Excellence Operational Div
Slide 5: Our Journey
Our Journey Commencement of First Steel Wheels Commercial Production at Dappar Plant, Punjab 1991 Start of 2W & Tractor Wheels Production 2002 Start of LCV Wheels Commercial Production 2006 Start of Commercial Production for Exports Market by supplies of PV to PSA 2007 Peugeot Citroen, France & HCV
Slide 6: Strategic Partnerships
Strategic Partnerships • Tata Steel Limited (through its then wholly -owned subsidiary Company namely Kalimati Investment Company Ltd, which has now merged with Tata Steel Ltd) had TATA Steel Limited, India entered into a Strategic Alliance Agreement in January 2008 with SSWL • Through this relation
Slide 7: Our Products
Our Products I n c l . E xp o r t s a n d s c r a p s Steel Wheels – Rs. 1,493.5 crores (~63%) (H1 FY26 Revenues) Competitive Pricing Suitability Quick Maintenance Robust Wheel More flexible, absorbs Competitively priced; have Requires nothing more Steel Wheels are robust, more shock, thus suitable
Slide 8: Product Capacities & Utilization
Product Capacities & Utilization 77% 72% 78% 75% 65% STEEL WHEELS Phased addition of additional 5 205 205 205 205 210 lakh steel wheel 186 capacity by FY26 FY22 FY23 FY24 FY25 H1 FY26 FY26E 96% 82% 80% 73% 64% A L L OY W H E E L S 50 50 42 36 30 30 FY22 FY23 FY24 FY25 H1 FY26 FY26E 8 In Lakh Units I
Slide 9: State-of-the-Art Facilities
State-of-the-Art Facilities Wheel Capac ity (Mn) Catering to PV, MUV, Dappar, Punjab 10.8 Tractor & OTR Corporate Office, Chandigarh 6+1.5 Dappar, Punjab Chennai, Tamil Nadu PV & CV 7.5 Jamshedpur, Jharkhand 2.2 HCV / LCV Bhuj, Gujarat* HCV, Tractor, Jamshedpur, Jharkhand Bhuj, Gujarat 7.0*^ PV Mehs
Slide 10: Clientele
Clientele 10 T h e B r a n d Na m e s a n d L o g o s m e n t i o n e d a r e t h e p r o p e r t y o f t h e i r r e s p e c t i v e o w n e r s a n d a r e u s e d h e r e f o r i d e n t i f i c a t i o n p u r p o s e s o n l y .
Slide 11: Steel Wheels
Steel Wheels Domestic Market Share Key Customers Key Platforms Share of Business S t e e l W h e e l S a l e s Vo l u m e 34% Maruti Suzuki Ciaz, Baleno, Scross, Brezza, Celerio 34% (in Lakh Units) Hyundai Venue, Grandi10, Verna 25% I n c l . E xp o r t s Mahindra Scorpio, TUV, XUV, Scorpio N 61% Ho
Slide 12: Scaling up Capacity for Aluminium Knuckles
Aluminium Knuckles Scaling up Capacity for Aluminium Knuckles Knuckles In Lakh Units Capacity 10.0 5.0 3.0 Q2 FY26 FY26E FY27E Currently, we are working with 2 leading In H1 FY26 we sold ~124k Knuckles which OEM’s and as we keep increasing our generated revenue of Rs. 33.2 Crores capacity we would i
Slide 13: Export Profile
Export Profile Exports Revenue (Rs. Crs) FY25 FY26 273 271 Russia UK Germany Poland Canada Netherlands Slovakia 150 USA France Romania Japan 111 Austria Hungary Spain S Korea Italy Morocco Egypt U.A.E. Q2 FY26 H1 FY26 Thailand Region Wise Export Revenue Contribution % Colombia 74% 71% Brazil 64% 64%
Slide 14: Growth Drivers
‘cl sees Strips Wheels Limited Growth Drivers
Slide 15: Growth Drivers
Growth Drivers Sales Mix Shift Shift of Sales Mix towards High Margin Accretive Segments – Alloy Wheel & Exports Operations Optimization Development of Robotic Automated Operation process for Operating Cost Rationalization Diversifying into Aluminium Product Portfolio Exploring various avenues to fo
Slide 16: Shift of Sales Mix to High Margin Alloy Wheels Segment
Shift of Sales Mix to High Margin Alloy Wheels Segment I n c r e a s e d Vo l u m e s f r o m A l l o y W h e e l S a l e s Leading to Increased Contribution to Sales (in Lakh Units) I n c l . E xp o r t s Volume Contribution to Total Sales Volume 33 30 Value Contribution to Total Sales Contribution
Slide 17: Shift of Sales Mix to High Margin Exports Segment
Shift of Sales Mix to High Margin Exports Segment Vo l u m e s f r o m E x p o r t s Revenues from Exports (in Lakh Units) (Rs. Crs.) H1 FY26 Alloy Wheel Volume H1 FY26 Alloy Wheel Revenue 1.32 Lakhs unit Rs. 67.08 Crs. 55 829 634 37 561 30 294 271 15 12 FY22 FY23 FY24 FY25 H1 FY26 FY22 FY23 FY24 FY
Slide 18: Balance Sheet KPIs
Balance Sheet KPIs Cash Accruals (Rs. in Crs.) Long Term Debt (Rs. in Crs.) RoCE RoE 310 311 487 22.9% 282 274 25.9% 24.0% 374 371 17.9% 20.3% 297 20.0% 17.0% 149 222 17.7% 14.1% 11.2% FY22 FY23 FY24 FY25 H1 FY26 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1 FY26 FY22 FY23 FY24 FY25 H1 FY26 I n
Slide 19: Dividend Payout History
Dividend Payout History Dividend 15 % 15 % 20 % 30 % 30 % 40 % 40 % 0% 20 % 75 % 100 % 100 % 125 % Declared % 19.6 15.7 15.7 11.7 Dividend 6.2 6.2 Paid (Rs in Cr) 4.7 4.7 2.3 2.3 3.1 3.1 0.0 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 ^ FY21 FY22 FY23 FY24 FY25 C o n s i ste nt D i v i d e n d p a i d b
Slide 20: Q2 & H1FY26 Financials
‘cl sees Strips Wheels Limited Q2 & H1FY26 Financials
Slide 21: Q2 & H1FY26 Financial Performance Snapshot
Q2 & H1FY26 Financial Performance Snapshot Revenues from EBITDA (Rs. Crs.) PAT (Rs. Crs.) Volumes (in Lakh Revenue Mix operations (Rs. Crs.) EBITDA Margins % PAT Margins % units) 11.0 % 9.3 % 4.6 % 3.2 % Alloy Wheel Steel Wheel Aluminium Knuckles +9.7% -2% -6.7% -23.3% 1,201 120 50 48 47 1,095 112 Q
Slide 22: Profit & Loss
Profit & Loss Particulars (Rs. in Crs) Q2 FY26 Q2 FY25 Y-o-Y H1 FY26 H1 FY25 Y-o-Y Revenue from Operations 1,200.6 1,095.1 9.6% 2,387.4 2,120.4 12.6% Cost of Materials Consumed 764.9 704.9 1,583.6 1,353.9 Changes in Inventory 8.9 -12.9 -38.7 2.2 Gross Profit 426.7 403.0 5.9% 842.4 764.3 10.2% • The
Slide 23: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. in Crs) Sep-25 Mar-25 Equity & Liabilities (Rs. in Crs) Sep-25 Mar-25 Non - Current Assets 2,014.4 1,957.6 Total Equity 1,635.2 1,543.8 Share Capital 15.7 15.7 Property Plant & Equipments 1,562.3 1,626.1 Other Equity 1,619.5 1,528.1 CWIP 389.0 271.1 Non-Current L
Slide 24: Cash Flow Statement
Cash Flow Statement Particulars (Rs. in Crs) Sep-25 Sep-24 Net Profit Before Tax 118 129 Adjustments for: Non -Cash Items / Other Investment or Financial Items 118 107 Operating profit before working capital changes 237 236 Changes in working capital -116 44 Cash generated from Operations 120 280 Di
Slide 25: Performance Ratios
Performance Ratios Return on Equity (RoE) Return on Capital Employed (RoCE) Fixed Asset Turnover Ratio 23% 26% 3.0 3.0 3.1 24% 2.6 2.7 18% 17% 20% 20% 18% 14% 11% FY22 FY23 FY24 FY25 H1 FY26 FY22 FY23 FY24 FY25 H1 FY26 FY22 FY23 FY24 FY25 H1 FY26 Debt / EBITDA Debt / Equity Current Ratio 2.11 0.76 0
Slide 26: Historical Financials
‘cl sees Strips Wheels Limited Historical Financials
Slide 27: Historical Profit and Loss
Historical Profit and Loss Profit and Loss (Rs in Crs) FY25 FY24 FY23 FY22 FY21 Revenue from Operations 4,429.0 4,357.1 4,040.5 3,560.0 1,749.4 Cost of Materials Consumed 2,878.1 2,854.3 2,688.3 2,221.6 1,082.4 Changes in Inventory -19.9 -18.3 -24.7 -34.5 16.7 Gross Profit 1570.8 1,521.0 1,376.9 1,3
Slide 28: Balance Sheet
Balance Sheet Assets (Rs. in Crs) FY25 FY24 FY23 FY22 FY21 Equity & Liabilities (Rs. in Crs) FY25 FY24 FY23 FY22 FY21 Non - Current Assets 1,957.6 1,919.4 1,603.1 1,497.0 1,425.9 Total Equity 1543.8 1345.7 1,134.7 951.8 749.3 Share Capital 15.7 15.7 15.7 15.6 15.6 Property Plant & Equipments 1,626.1
Slide 29: Cash Flow - Snapshot
Cash Flow - Snapshot Particulars (Rs. in Crs) FY25 FY24 FY23 FY22 FY21 Net Profit Before Tax 282.0 288.6 291.2 300.9 63.9 Adjustments for: Non -Cash Items / Other Investment or Financial Items 209.7 183.1 152.1 150.9 144.5 Operating profit before working capital changes 491.7 471.7 443.4 451.8 208.4
Slide 30: CSR, ESG & Awards
‘cl sees Strips Wheels Limited CSR,ESG & Awards
Slide 31: CSR
CSR Promotion of Education by strengthening government schools & helping poor students by providing Financial Assistance & providing access to education to Orphan Children who Promotion of nationally recognized lost their parents due to Covid -19 sports Ensuring environment sustainability through Co
Slide 32: Awards
Awards Gus Strips Wheels Limited melee MQH FIRST RUNNER-UP CERTIFICATE in quality manage the overall compet
Slide 33: Thank You
Steel Strips Wheels Limited THANK YOU Company: Steel Strips Wheels Limited Investor Relations: Strategic Growth Advisors (SGA) CIN: L27107PB1985PLC006159 CIN: U74140MH2010PTC204285 Mr. Mohan Joshi (DMD) Mr. Deven Dhruva / Mr. Deep Hemani info@sswlindia.com deven.dhruva@sgapl.net / deep.hemani@sgapl.