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Steel Strips Wheels Limited (SSWL) reported a monthly net turnover of ~₹480 crores in June 2026

ICICIdirect Research 02 Jul 2026 DISCLAIMER

News:  In a regulatory filing, Steel Strips Wheels Limited (SSWL) reported a monthly net turnover of ~₹480 crores in June 2026, up from ₹ 350 crores in Jun’25, marking a growth of ~37% on YoY basis. Segment-wise analysis reveals healthy performance across segments with passenger car steel sales growing by 11% in volume and 9% in value, while the two and three-wheeler segments grew by 40% in volume and by 74% YoY in value. Tractor sales grew by 27% in volume & 34% in value, while passenger car alloy segment saw growth of 21% in volume and 35% in value. Truck sales witnessed a growth of 39% in volume while growing 54% in value, while overall exports witnessed a decline of -39% in volume but grew 7% in value.

View: SSWL reported healthy monthly prints for June 26. A key operational observation is the positive variance between value growth (+37%) and volume growth (+23%) which demonstrates a systematic transition toward high realization products and benefits from high metal prices. The Truck vertical was a key highlight of the month, sustaining double-digit volume expansion reflecting robust freight demand and a firming commercial vehicle replacement cycle. The 2 & 3Ws segment emerged as a fastest growing engine, a pivotal driving force behind this outperformance is the rapid adoption of EVs in the 2W domain, recording 74% value growth. SSWL, strategic positioning as a preferred supplier of specialized wheels for new-age EV 2W platforms has unlocked substantial volume additions. Overall, we have a positive view on SSWL amid powertrain agnostic product profile (no EV risk), healthy volume growth visibility, increasing share of exports & alloy wheel in overall sales mix, consequent rise in margins & return ratios

Impact: Positive

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