Steel Strips zooms 19%, hits record high on heavy volume post Q2 results

A combined 16.63 million shares representing 10.6 per cent of SSWL's total equity, changed hands on the NSE and BSE in Friday's intraday deals.

Steel Strips Wheels share price movement

 

Share price of Steel Strips Wheels (SSWL) moved higher by 19 per cent to ₹467.30, hitting a record high on the BSE in Friday’s intraday deals amid heavy volume in an otherwise weak market after the company reported strong earnings for the quarter ended September 2026 (Q2FY27).

 

The stock price of the auto parts & equipment company surpassed its previous high of ₹434.05 touched on October 6, 2026. Thus far in the calendar year 2026, SSWL's market price has zoomed 141 per cent, compared to a 14.6 per cent decline in the BSE Sensex.

 

At 01:21 PM, SSWL quoted 15.5 per cent higher at ₹452, as against a 1 per cent fall in the benchmark index. The average trading volume at the counter surged multiple-fold, with a combined 16.63 million shares representing 10.6 per cent of total equity of SSWL changing hands on the NSE and BSE.

 

 

SSWL – Q2 results

 

SSWL reported a strong performance in Q2FY27 with consolidated revenue growth of 60.75 per cent year-on-year (YoY) at ₹1,929.92 crore. Earnings before interest, tax, depreciation and amortization (EBIDTA) more than doubled YoY at ₹231.34 crore, against ₹112.48 crore in Q2FY26. EBITDA margin improved to 11.98 per cent from 9.37 per cent in the year ago quarter. Profit after tax jumped to ₹116.94 from ₹35.52 crore.

 

SSWL is the leader in designing & manufacturing automotive wheel rims under both steel & alloy categories. It sells its products across the globe, and the company’s products cater to various customers engaged in manufacturing automotive and auto components.

 

SSWL - capex plan, product launch

 

SSWL has a capital expenditure (capex) plan of ₹1,400 crore for alloy wheels (₹815 crore), steel wheels of passenger vehicle (PV) & Off-The-Road (OTR) (₹410 crore) and hot stamping for structural body parts of PV (₹175 crore).

 

The capacity is expected to be added within a period of 60 months, subject to receipt of necessary approvals and clearance. The company will finance with a combination of debt and internal accruals.

 

Meanwhile, the board launched Hot Stamping for structural body parts of PV. The board has given in-principle approval for setting up of Hot Stamping line at the proposed greenfield manufacturing facility.

 

SSWL – Opportunities & Threats

 

Electric passenger vehicle registrations rose over 80 per cent in FY25-26, supported by PM E-DRIVE, the Production-Linked Incentive (PLI) scheme for auto and auto components, and expanding charging infrastructure. The EV ecosystem represents a multi-billion dollar investment opportunity through 2030, with India positioning itself as a manufacturing and export base for electric mobility.

 

Major original equipment manufacturers (OEMs) — Hyundai, Tata Motors, Maruti Suzuki, and others — have committed large multi-year capex programmes to expand production capacity, launch new models, and localise components, positioning the industry for sustained volume growth well into FY26-27 (FY27) and beyond, SSWL said in its FY26 annual report.

 

However, the prolonged West Asia conflict has already driven up crude oil prices and disrupted global supply chains, with knock-on effects for fuel prices, freight rates, and input costs across the auto value chain. The rising protectionism in key export markets, including proposed US tariff actions, poses a risk to India’s growing auto export base, particularly for OEMs with meaningful exposure to North American and Western markets, the company said.

 

Factor of global growth has become a key linkage between economies and the consumer sentiment. Global growth is still limping on a weak wicket and manufacturing output is still shrinking for a large part of the globe. World economies are currently facing large headwinds on account of geopolitical and trade tariff issues popping up over the past year. The uncertainties will restrict investments and surely hurt demand sentiments across the globe. In the near term, hazy outlooks will restrict growth opportunities for all the automobile industry, it added.