Wheels India

₹589 3 | 0.5%

WEBSITE BSE:590073 NSE : WHEELS INDIA 18 May, 12:50

Market Cap ₹1439 Cr.

Stock P/E 29.3

P/B 1.8

Current Price ₹589

Book Value ₹ 326.1

Face Value 10

52W High ₹854

Dividend Yield 1.18%

52W Low ₹ 545

Edit Ratio

Wheels India Research see more...

Overview Inc. Year: 1960Industry: Auto Ancillary

Wheels India Ltd is an India-based holding organisation. The Company operates via its subsidiary, WIL Car Wheels Ltd. and manufactures auto components. The Company's products include wheels, air suspension division, energy device part department, heavy engineering department and fab department. Its range of wheels comprises heavy and light vehicle wheel, agricultural application wheel, off road construction wheel, wire wheel and forged aluminium wheel. The organisation additionally manufactures air suspension kits for trucks and buses.

Wheels India Share Price

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Peer Comparison

Wheels India Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	973	1077	1188	1134	1185	1078	1252	1207	1284	1210
Other Income	1	1	6	4	0	14	3	2	4	1
Total Income	974	1078	1194	1138	1185	1091	1255	1209	1288	1211
Total Expenditure	906	1010	1116	1086	1127	1033	1180	1150	1236	1150
Operating Profit	68	68	78	52	57	58	75	59	52	61
Interest	16	19	20	22	26	27	29	30	30	30
Depreciation	26	26	26	18	19	18	18	20	21	21
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	26	23	33	12	13	13	27	9	0	9
Provision for Tax	7	5	8	3	3	4	6	2	-0	2
Profit After Tax	20	18	25	9	9	9	21	7	1	7
Adjustments	1	2	2	1	2	3	3	3	4	3
Profit After Adjustments	21	19	27	10	11	12	24	10	4	10
Adjusted Earnings Per Share	8.6	8.1	11.1	4.2	4.7	5	10.1	4.1	1.8	4.1

Wheels India Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1987	2173	2563	3441	2672	2413	3966	4651	4953
Other Income	2	3	8	6	8	2	12	21	10
Total Income	1989	2176	2571	3447	2680	2416	3979	4672	4963
Total Expenditure	1815	1987	2364	3196	2500	2270	3712	4433	4716
Operating Profit	174	189	207	251	180	145	267	239	247
Interest	58	48	45	66	67	59	71	103	119
Depreciation	60	64	70	79	78	86	101	72	80
Exceptional Income / Expenses	0	0	12	0	0	0	0	0	0
Profit Before Tax	56	78	106	108	36	1	98	69	45
Provision for Tax	16	18	30	32	-12	1	24	15	10
Profit After Tax	40	59	75	76	47	0	74	54	36
Adjustments	1	0	-0	0	2	2	2	4	13
Profit After Adjustments	41	59	75	77	49	2	76	58	48
Adjusted Earnings Per Share	17.1	24.6	31.2	31.8	20.4	0.8	31.8	24.1	20.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	17%	20%	13%	0%
Operating Profit CAGR	-10%	10%	3%	0%
PAT CAGR	-27%	5%	-6%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	7%	6%	-7%	7%
ROE Average	7%	6%	8%	9%
ROCE Average	11%	9%	10%	12%

Wheels India Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	414	469	587	640	664	661	734	764
Minority's Interest	0	0	23	23	21	19	17	13
Borrowings	189	127	134	200	283	335	252	203
Other Non-Current Liabilities	72	63	61	75	59	69	67	64
Total Current Liabilities	620	712	866	1173	1041	1393	1904	1965
Total Liabilities	1296	1370	1672	2112	2068	2476	2974	3010
Fixed Assets	518	526	557	710	753	883	903	1000
Other Non-Current Assets	72	62	115	133	254	164	190	174
Total Current Assets	705	782	999	1269	1061	1429	1881	1835
Total Assets	1296	1370	1672	2112	2068	2476	2974	3010

Wheels India Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	7	-5	0	6	-3	8	8	-1
Cash Flow from Operating Activities	148	155	131	184	184	148	28	373
Cash Flow from Investing Activities	-69	-75	-135	-230	-242	-118	-120	-148
Cash Flow from Financing Activities	-82	-75	9	38	70	-31	84	-211
Net Cash Inflow / Outflow	-2	5	5	-9	12	-0	-9	14
Closing Cash & Cash Equivalent	5	0	6	-3	8	8	-1	13

Wheels India Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	17.09	24.62	31.21	31.8	20.39	0.76	31.78	24.14
CEPS(Rs)	41.75	51.19	60.66	64.34	52.05	35.63	72.79	52.49
DPS(Rs)	4.5	6.5	7.5	8	5.65	1	8.3	6.97
Book NAV/Share(Rs)	172.14	194.8	243.82	266.14	275.86	274.6	304.94	317.61
Core EBITDA Margin(%)	8.04	7.93	7.61	7.13	6.44	5.93	6.42	4.7
EBIT Margin(%)	5.31	5.37	5.78	5.06	3.82	2.47	4.27	3.7
Pre Tax Margin(%)	2.62	3.32	4.06	3.15	1.33	0.03	2.47	1.49
PAT Margin (%)	1.86	2.53	2.89	2.21	1.77	0	1.87	1.16
Cash Profit Margin (%)	4.68	5.26	5.59	4.5	4.69	3.55	4.42	2.72
ROA(%)	3.09	4.44	4.96	4.03	2.26	0.01	2.72	1.81
ROE(%)	9.66	13.42	14.31	12.41	7.26	0.02	10.64	7.23
ROCE(%)	14.23	15.37	16.92	16.74	8.37	4.52	11.59	11.06
Receivable days	58.82	60.91	64.28	56.74	72.33	91.76	75.1	67.51
Inventory Days	50.61	44.94	45.69	42.93	57.85	72.56	62.01	64.51
Payable days	103.76	100.78	95.39	85.78	112.96	152.63	124.61	119.84
PER(x)	28.15	26.81	36.21	28.46	15.25	599.62	16.1	18.72
Price/Book(x)	2.8	3.39	4.63	3.4	1.13	1.65	1.68	1.42
Dividend Yield(%)	0.94	0.98	0.66	0.88	1.82	0.22	1.62	1.54
EV/Net Sales(x)	0.77	0.9	1.2	0.77	0.52	0.73	0.52	0.4
EV/Core EBITDA(x)	8.83	10.31	14.85	10.61	7.68	12.14	7.77	7.72
Net Sales Growth(%)	0	9.34	17.94	34.29	-22.37	-9.67	64.35	17.26
EBIT Growth(%)	0	10.49	19.82	15.48	-40.78	-41.53	183.71	1.67
PAT Growth(%)	0	48.14	27.43	0.87	-36.33	-99.75	0	-27
EPS Growth(%)	0	44.03	26.74	1.9	-35.88	-96.29	4101.88	-24.06
Debt/Equity(x)	0.93	0.79	0.61	0.77	0.96	1.02	1.16	1
Current Ratio(x)	1.14	1.1	1.15	1.08	1.02	1.03	0.99	0.93
Quick Ratio(x)	0.66	0.71	0.72	0.71	0.62	0.63	0.57	0.5
Interest Cover(x)	1.98	2.61	3.36	2.64	1.53	1.01	2.37	1.67
Total Debt/Mcap(x)	0.33	0.23	0.13	0.23	0.86	0.62	0.69	0.7

Wheels India Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	57.53	57.53	57.53	57.53	58.1	58.73	58.73	58.31	58.31	58.31
FII	0.27	0.27	0.33	0.4	0.4	0.42	0.21	0.26	0.19	0.29
DII	19.88	19.93	19.95	19.98	20.02	20.02	20.02	18.81	18.32	13.13
Public	22.32	22.27	22.19	22.09	21.48	20.83	21.04	22.61	23.18	28.27
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	1.38	1.38	1.38	1.38	1.4	1.41	1.41	1.42	1.42	1.42
FII	0.01	0.01	0.01	0.01	0.01	0.01	0	0.01	0	0.01
DII	0.48	0.48	0.48	0.48	0.48	0.48	0.48	0.46	0.45	0.32
Public	0.54	0.54	0.53	0.53	0.52	0.5	0.51	0.55	0.57	0.69
Others	0	0	0	0	0	0	0	0	0	0
Total	2.41	2.41	2.41	2.41	2.41	2.41	2.41	2.44	2.44	2.44

Pros

Debtor days have improved from 124.61 to 119.84days.
Company has reduced debt.

Cons

Company has a low return on equity of 6% over the last 3 years.
The company has delivered a poor profit growth of -6% over past five years.

* 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.