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    Auto - Parts
Wheels India Limited

Wheels India Limited

WHEELS.BO
Wheels India LimitedIN flagBombay Stock Exchange
1,500.60
INR
-17.50
- -
36.66BMarket Cap
Wheels India Limited
WHEELS.BO
(Bombay Stock Exchange)

Recent

price

1,500.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
430.82
525.57
487.39
868.3
822.73
825.8
838.68
981.47
1,306.59
1,034.33
922.06
1,502.2
1,738.38
1,875.59
1,941.82
- -
2,236.58
Revenue per Share
6.92
9.64
8.95
13.53
12.36
17.09
24.62
31.2
31.79
20.39
0.76
31.78
22.65
25.69
45.39
- -
63.45
Basic EPS, GAAP
25.66
13.39
11.36
32.4
6.03
29.56
31.49
-33.68
-23.86
-25.13
11.8
-44.74
87.98
73.29
78.26
- -
- -
Free Cash Flow per Basic Share
1.25
2.91
1.66
5.69
3.6
4
6.32
8.39
9.32
9.33
2.66
1.02
11.11
3.93
11.85
- -
- -
Dividend per Share
2.77
2.77
2.77
5.73
5
18.04
25.95
36.26
50.41
52.31
49.59
80.36
88.04
109.98
143.48
- -
10
Book Value per Share
60.05
65.87
71.7
172.09
157.43
176.01
194
252.38
272.99
282.48
281.16
310.78
312.27
332.87
367.26
- -
416.69
Tangible Book Value per Share
36
36
36
21
24
24
24
24
24
24
24
24
24
24
24
- -
24
Basic Weighted Avg Shares
15,347
18,723
17,363
18,232
19,799
19,872
20,182
23,619
31,442
24,891
22,189
36,150
42,474
45,826
47,444
54,649
54,649
Sales/Revenue/Turnover
9.11
6.05
5.6
5.06
4.85
5.65
6.38
5.42
5.37
3.78
2.61
4.25
3.44
4.32
5.46
5.44
5.44
Operating Margin (%)
461
505
536
553
541
604
639
704
786
779
856
1,010
721
849
932
1,153
1,153
Depreciation Expense
246
343
319
284
297
411
592
751
765
491
18
765
554
628
1,109
1,550
1,550
Net Income, GAAP
0.61
36.58
28.45
26.89
24.79
29.01
23.76
28.75
29.65
- -
85
24.15
21.91
21.31
24.65
24.41
24.41
Effective Tax Rate (%)
1.61
1.83
1.84
1.56
1.5
2.07
2.94
3.18
2.43
1.97
0.08
2.12
1.3
1.37
2.34
2.84
2.84
Profit Margin (%)
-171
-115
136
-40
336
1,034
701
1,323
953
193
360
-234
-1,603
-1,105
-1,339
-2,590
-2,590
Working Capital
1,840
1,765
2,047
1,222
1,631
1,873
1,266
1,337
2,004
2,902
3,496
2,692
2,174
2,983
3,079
3,138
3,138
LT Debt
2,175
2,391
2,589
3,636
3,811
4,252
4,687
6,100
6,632
6,847
6,800
7,507
7,973
8,489
9,324
10,549
10,549
Total Equity
28.48
13.96
10.66
10.38
10.94
10.53
11.87
10.08
11.16
- -
0.64
7.71
7.01
9.59
11.87
12.86
12.86
Return on Invested Capital (%)
16.79
11.62
7.71
17.85
22.49
20.58
22.12
23.49
22.07
- -
1.49
13.89
13.29
15.47
18.69
25.48
25.55
Return on Capital (%)
249.63
348.04
322.98
259.46
247.22
148.35
111.91
100.31
73.37
39.69
1.48
48.91
27.1
25.95
35.82
82.67
82.68
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
4,578
- -
4,544
LT Borrowings
2,746
- -
2,573
LT Finance Leases
39
- -
565
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
24
- -
24
Market Capitalization
22,100
21,039
24,349

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
17,779
- -
18,043
Cash, Cash Equivalents & STI
328
- -
156
Accounts Receivable, Net
7,534
- -
8,177
Inventories
8,181
- -
7,464
Total Current Liabilities
19,803
- -
20,633
Payables & Accruals
- -
- -
- -
ST Debt
4,578
- -
4,544
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.77%
9.21%
13.14%
Free Cash Flow
-115.5%
-156.75%
4.9%
Net Income, GAAP
414.44%
840.78%
39.77%
Sales/Revenue/Turnover
12.71%
21.4%
15.19%
Total Cash Common Dividend
111.75%
217.41%
3.83%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
12,116
12,838
12,104
8,768
45,826
2025
11,659
11,765
11,249
12,772
47,444
2026
12,655
12,640
13,714
15,640
54,649

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4.01
1.78
4.14
- -
25.69
2025
9.66
9.82
10.25
15.66
45.39
2026
12.23
12.68
14.76
23.78
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
3.93
2025
- -
- -
- -
- -
11.85
2026
- -
- -
- -
- -
- -
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Business
Wheels India Limited, a TVS Group company headquartered in Chennai, Tamil Nadu, India, and founded in 1960, ranks among the world's largest manufacturers of steel, aluminum, and wire wheels for passenger cars, utility vehicles, trucks, buses, tractors, construction and earth-moving equipment, and defense vehicles; the company also produces air suspension kits and lift axles for trucks and buses, bus and truck chassis systems, hydraulic cylinders, custom-fabricated assemblies, precision components for wind turbines, railway products, and fabricated products for heavy engineering applications, serving global OEMs including Ford, Hyundai, Tata, Caterpillar, John Deere, Komatsu, and Case New Holland with operations spanning multiple manufacturing facilities in Tamil Nadu, Maharashtra, Uttar Pradesh, and Uttarakhand, and exporting over 15% of its turnover primarily from construction equipment segments to international markets. The company operates through key divisions encompassing automotive wheels, construction equipment (wheels, fabrications, hydraulic cylinders), energy products (wind turbines, railways), and air suspension & lift axles, with its subsidiary WCWL focusing on steel wheels for light passenger vehicles. Recent strategic developments include a June 2025 acquisition of 7.64 lakh equity shares in Axles India Limited from Forge 2000 Pvt Ltd for ₹23 crore, increasing its stake from 9.51% to 12.51%; a September 2025 technology transfer agreement with South Korea's SHPAC to bolster hydraulic cylinder business growth globally; establishment of a European subsidiary in July 2025 with €50,000 share capital to enhance regional presence over three to five years alongside its U.S. arm; a ₹250 crore capital expenditure plan for FY26 targeting expansions in windmill components, aluminum wheels, balancing equipment, and hydraulics; and strong performance in Q2 FY26 with revenues up 8.63% to ₹1,179 crore driven by air suspension, tractor wheels, and exports.