Steel Strips Wheels

₹209.2 -2.1 | 1%

WEBSITE BSE:513262 NSE : ST.STR.WHEEL 10 May, 16:01

Market Cap ₹3283 Cr.

Stock P/E 15.9

P/B 2.7

Current Price ₹209.2

Book Value ₹ 78.4

Face Value 1

52W High ₹298.9

Dividend Yield 0.48%

52W Low ₹ 146.2

Edit Ratio

Steel Strips Wheels Research see more...

Overview Inc. Year: 1985Industry: Auto Ancillary

Steel Strips Wheels Ltd is engaged within the production of stell wheel rims catering to various segments of automobile industry. The Company operates in Automotive Wheels section and its segments are both inside and Outside of India. Its products consist of metal wheels and alloy wheels, which include steel wheels for two and three wheelers, passenger automobiles, high speed trailers, truck, trailers, tractors and off road vehicles. It offer a range of diameters, widths and finishes, which can be changed as according to utility and wishes of consumer. It has about three manufacturing centres, which are in Punjab, Chennai and Jamshedpur. The Company produces particularly passenger car wheels in Dappar (Punjab) and Oragadam (Chennai), and truck wheels in Jamshedpur (Jharkhand). The Company elements metal wheels to original equipment manufacturers (OEMs). It caters to the auto components and gadget enterprise.

Steel Strips Wheels Share Price

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Peer Comparison

Steel Strips Wheels Quarterly Results

#(Fig in Cr.)	Mar 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	1063	1081	938	1005	1044	1134	1110
Other Income	5	4	2	7	4	3	2
Total Income	1069	1085	940	1012	1049	1137	1112
Total Expenditure	952	964	831	896	931	1009	994
Operating Profit	117	121	110	115	117	127	118
Interest	19	21	22	23	24	26	25
Depreciation	19	20	20	20	22	22	23
Exceptional Income / Expenses	0	0	0	0	0	0	0
Profit Before Tax	78	80	68	73	71	79	71
Provision for Tax	30	25	24	25	24	26	11
Profit After Tax	49	55	44	47	48	52	60
Adjustments	0	0	0	-0	-0	-0	-0
Profit After Adjustments	49	55	44	47	47	52	59
Adjusted Earnings Per Share	3.1	3.5	2.8	3	3	3.3	3.8

Steel Strips Wheels Profit & Loss

#(Fig in Cr.)	Mar 2022	Mar 2023	TTM
Net Sales	3560	4041	4293
Other Income	13	12	16
Total Income	3573	4053	4310
Total Expenditure	3107	3598	3830
Operating Profit	466	455	477
Interest	85	84	98
Depreciation	77	80	87
Exceptional Income / Expenses	0	0	0
Profit Before Tax	304	291	294
Provision for Tax	98	97	86
Profit After Tax	205	194	207
Adjustments	0	0	0
Profit After Adjustments	205	194	205
Adjusted Earnings Per Share	13.2	12.4	13.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	14%	0%	0%	0%
Operating Profit CAGR	-2%	0%	0%	0%
PAT CAGR	-5%	0%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	39%	40%	21%	30%
ROE Average	20%	21%	21%	21%
ROCE Average	22%	23%	23%	23%

Steel Strips Wheels Balance Sheet

#(Fig in Cr.)	Mar 2022	Mar 2023
Shareholder's Funds	952	1135
Minority's Interest	0	0
Borrowings	279	161
Other Non-Current Liabilities	269	270
Total Current Liabilities	1201	1215
Total Liabilities	2702	2781
Fixed Assets	1360	1349
Other Non-Current Assets	137	255
Total Current Assets	1205	1178
Total Assets	2702	2781

Steel Strips Wheels Cash Flow

#(Fig in Cr.)	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	53	58
Cash Flow from Operating Activities	406	348
Cash Flow from Investing Activities	-154	-128
Cash Flow from Financing Activities	-248	-234
Net Cash Inflow / Outflow	5	-14
Closing Cash & Cash Equivalent	58	44

Steel Strips Wheels Ratios

#	Mar 2022	Mar 2023
Earnings Per Share (Rs)	13.16	12.38
CEPS(Rs)	18.09	17.52
DPS(Rs)	0.75	1
Book NAV/Share(Rs)	56.95	68.85
Core EBITDA Margin(%)	12.72	10.96
EBIT Margin(%)	10.93	9.27
Pre Tax Margin(%)	8.53	7.21
PAT Margin (%)	5.77	4.8
Cash Profit Margin (%)	7.93	6.79
ROA(%)	7.61	7.07
ROE(%)	23.11	19.71
ROCE(%)	23.19	22.06
Receivable days	40.23	33.47
Inventory Days	66.34	62.37
Payable days	110	92.77
PER(x)	12.27	11.94
Price/Book(x)	2.84	2.15
Dividend Yield(%)	0.46	0.68
EV/Net Sales(x)	0.91	0.72
EV/Core EBITDA(x)	6.96	6.39
Net Sales Growth(%)	0	13.5
EBIT Growth(%)	0	-3.65
PAT Growth(%)	0	-5.68
EPS Growth(%)	0	-5.93
Debt/Equity(x)	0.88	0.59
Current Ratio(x)	1	0.97
Quick Ratio(x)	0.46	0.37
Interest Cover(x)	4.55	4.49
Total Debt/Mcap(x)	0.31	0.28

Steel Strips Wheels Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	62.77	62.77	62.6	62.6	62.6	62.68	62.68	62.27	61.91	60.98
FII	0.12	0.14	0.07	0.14	5.63	5.63	5.63	6.05	6.07	5.94
DII	0.39	0.44	0.44	0.41	0.63	0.83	1.23	2.24	2.81	4.27
Public	36.72	36.65	36.89	36.85	31.15	30.87	30.46	29.44	29.2	28.8
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.96	1.96	1.96	1.96	9.8	9.81	9.81	9.75	9.72	9.57
FII	0	0	0	0	0.88	0.88	0.88	0.95	0.95	0.93
DII	0.01	0.01	0.01	0.01	0.1	0.13	0.19	0.35	0.44	0.67
Public	1.15	1.14	1.15	1.15	4.88	4.83	4.77	4.61	4.58	4.52
Others	0	0	0	0	0	0	0	0	0	0
Total	3.12	3.12	3.13	3.13	15.65	15.65	15.65	15.65	15.69	15.69

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Debtor days have improved from 110 to 92.77days.
Company has reduced debt.

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.