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Wheels India Overview

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.

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Wheels India Key Financials

Market Cap ₹3249 Cr.

Stock P/E 29

P/B 3.3

Current Price ₹1329.6

Book Value ₹ 408.7

Face Value 10

52W High ₹1359

Dividend Yield 0.87%

52W Low ₹ 635.6

Wheels India Share Price

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Volume
Price

Wheels India Quarterly Price

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Wheels India Peer Comparison

Wheels India Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 1284 1210 1271 1166 1176 1125 1277 1266 1264 1371
Other Income 4 1 3 2 1 2 1 3 5 6
Total Income 1288 1211 1275 1168 1177 1127 1278 1269 1269 1378
Total Expenditure 1236 1150 1174 1086 1093 1040 1174 1172 1171 1271
Operating Profit 52 61 100 81 84 87 104 97 97 107
Interest 30 30 31 29 31 31 30 31 30 30
Depreciation 21 21 22 23 23 24 24 26 27 29
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 9 48 29 31 32 50 40 40 47
Provision for Tax -0 2 12 8 8 8 13 10 11 12
Profit After Tax 1 7 36 22 23 24 37 29 30 35
Adjustments 4 3 3 2 1 1 1 1 1 1
Profit After Adjustments 4 10 39 24 24 25 38 30 31 36
Adjusted Earnings Per Share 1.8 4.1 15.8 9.7 9.8 10.3 15.7 12.2 12.7 14.8

Wheels India Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1987 2173 2563 3441 2672 2413 3966 4640 4977 4744 5178
Other Income 2 3 8 6 8 2 12 21 8 5 15
Total Income 1989 2176 2571 3447 2680 2416 3979 4661 4985 4749 5194
Total Expenditure 1815 1987 2364 3196 2500 2270 3712 4420 4711 4392 4788
Operating Profit 174 189 207 251 180 145 267 242 274 357 405
Interest 58 48 45 66 67 59 71 106 123 122 121
Depreciation 60 64 70 79 78 86 101 74 85 93 106
Exceptional Income / Expenses 0 0 12 0 0 0 0 0 0 0 0
Profit Before Tax 56 78 106 108 36 1 98 66 75 149 177
Provision for Tax 16 18 30 32 -12 1 24 14 16 37 46
Profit After Tax 40 59 75 76 47 0 74 51 59 112 131
Adjustments 1 0 -0 0 2 2 2 4 4 -1 4
Profit After Adjustments 41 59 75 77 49 2 76 55 63 111 135
Adjusted Earnings Per Share 17.1 24.6 31.2 31.8 20.4 0.8 31.8 23 25.7 45.4 55.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -5% 6% 12% 0%
Operating Profit CAGR 30% 10% 15% 0%
PAT CAGR 90% 15% 19% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 105% 36% 23% 11%
ROE Average 13% 9% 8% 9%
ROCE Average 17% 13% 11% 13%

Wheels India Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 414 469 587 640 664 661 734 784 840 922
Minority's Interest 0 0 23 23 21 19 17 13 9 10
Borrowings 189 127 134 200 283 335 252 206 288 303
Other Non-Current Liabilities 72 63 61 75 59 69 67 66 69 73
Total Current Liabilities 620 712 866 1173 1041 1393 1904 1978 1898 1880
Total Liabilities 1296 1370 1672 2112 2068 2476 2974 3048 3104 3188
Fixed Assets 518 526 557 710 753 883 903 1060 1149 1295
Other Non-Current Assets 72 62 115 133 254 164 190 169 167 147
Total Current Assets 705 782 999 1269 1061 1429 1881 1818 1788 1746
Total Assets 1296 1370 1672 2112 2068 2476 2974 3048 3104 3188

Wheels India Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 7 -5 0 6 -3 8 8 -8 -5 28
Cash Flow from Operating Activities 148 155 131 184 184 148 28 370 329 400
Cash Flow from Investing Activities -69 -75 -135 -230 -242 -118 -120 -152 -150 -213
Cash Flow from Financing Activities -82 -75 9 38 70 -31 84 -216 -146 -188
Net Cash Inflow / Outflow -2 5 5 -9 12 -0 -9 3 34 -0
Closing Cash & Cash Equivalent 5 0 6 -3 8 8 -1 -5 28 28

Wheels India Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 17.09 24.62 31.21 31.8 20.39 0.76 31.78 23.01 25.69 45.4
CEPS(Rs) 41.75 51.19 60.66 64.34 52.05 35.63 72.79 52.29 58.87 84.08
DPS(Rs) 4.5 6.5 7.5 8 5.65 1 8.3 6.97 7.39 11.53
Book NAV/Share(Rs) 172.14 194.8 243.82 266.14 275.86 274.6 304.94 313.79 343.74 377.4
Core EBITDA Margin(%) 8.04 7.93 7.61 7.13 6.44 5.93 6.42 4.75 5.34 7.43
EBIT Margin(%) 5.31 5.37 5.78 5.06 3.82 2.47 4.27 3.71 3.97 5.7
Pre Tax Margin(%) 2.62 3.32 4.06 3.15 1.33 0.03 2.47 1.42 1.5 3.14
PAT Margin (%) 1.86 2.53 2.89 2.21 1.77 0 1.87 1.11 1.18 2.36
Cash Profit Margin (%) 4.68 5.26 5.59 4.5 4.69 3.55 4.42 2.71 2.89 4.33
ROA(%) 3.09 4.44 4.96 4.03 2.26 0.01 2.72 1.71 1.91 3.57
ROE(%) 9.66 13.42 14.31 12.41 7.26 0.02 10.64 6.91 7.39 12.74
ROCE(%) 14.23 15.37 16.92 16.74 8.37 4.52 11.59 10.89 12.41 16.67
Receivable days 58.82 60.91 64.28 56.74 72.33 91.76 75.1 65.3 54.83 58.74
Inventory Days 50.61 44.94 45.69 42.93 57.85 72.56 62.01 66.23 64.77 63.53
Payable days 103.76 100.78 95.39 85.78 112.96 152.63 124.61 120.42 118.97 133.28
PER(x) 28.15 26.81 36.21 28.46 15.25 599.62 16.1 19.64 23.25 12.79
Price/Book(x) 2.8 3.39 4.63 3.4 1.13 1.65 1.68 1.44 1.74 1.54
Dividend Yield(%) 0.94 0.98 0.66 0.88 1.82 0.22 1.62 1.54 1.24 1.99
EV/Net Sales(x) 0.77 0.9 1.2 0.77 0.52 0.73 0.52 0.41 0.44 0.45
EV/Core EBITDA(x) 8.83 10.31 14.85 10.61 7.68 12.14 7.77 7.78 8.08 5.99
Net Sales Growth(%) 0 9.34 17.94 34.29 -22.37 -9.67 64.35 16.99 7.26 -4.68
EBIT Growth(%) 0 10.49 19.82 15.48 -40.78 -41.53 183.71 1.77 14.55 37.05
PAT Growth(%) 0 48.14 27.43 0.87 -36.33 -99.75 0 -30.67 14.52 90.48
EPS Growth(%) 0 44.03 26.74 1.9 -35.88 -96.29 4101.88 -27.62 11.69 76.68
Debt/Equity(x) 0.93 0.79 0.61 0.77 0.96 1.02 1.16 1.06 0.9 0.79
Current Ratio(x) 1.14 1.1 1.15 1.08 1.02 1.03 0.99 0.92 0.94 0.93
Quick Ratio(x) 0.66 0.71 0.72 0.71 0.62 0.63 0.57 0.47 0.48 0.52
Interest Cover(x) 1.98 2.61 3.36 2.64 1.53 1.01 2.37 1.62 1.61 2.22
Total Debt/Mcap(x) 0.33 0.23 0.13 0.23 0.86 0.62 0.69 0.73 0.52 0.51

Wheels India Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 58.31 58.31 58.31 58.31 58.31 58.31 58.31 58.31 58.31 58.31
FII 0.19 0.29 0.81 0.42 0.34 0.38 0.57 1.08 1.18 1.15
DII 18.32 13.13 12.16 11.99 11.68 11.68 11.64 10.68 9.81 9.64
Public 23.18 28.27 28.72 29.28 29.67 29.63 29.48 29.93 30.7 30.91
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Wheels India News

Wheels India Pros & Cons

Pros

Cons

  • Company has a low return on equity of 9% over the last 3 years.
  • Debtor days have increased from 118.97 to 133.28days.
  • Stock is trading at 3.3 times its book value.
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