Steel Strips Wheels LimitedQ2 FY27 Results & Financial Update
Steel Strips Wheels Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,929.92 Cr, PAT ₹116.95 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Steel Strips Wheels Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the quarter ended September 30, 2026 (Q2 FY27), Steel Strips Wheels Limited reported consolidated revenue from operations of INR 1,929.92 crore, reflecting a notable sequential expansion compared to INR 1,509.82 crore in the preceding quarter (Q1 FY27).
Total income for Q2 FY27 stood at INR 1,930.70 crore, inclusive of INR 0.77 crore in other income, moving up from INR 1,510.66 crore in Q1 FY27.
Profitability expanded at a faster pace than revenue sequentially, with profit before tax (PBT) reaching INR 156.19 crore compared to INR 93.28 crore in the previous quarter.
Profit after tax (PAT) for the quarter came in at INR 116.95 crore, compared to INR 69.45 crore reported in Q1 FY27, resulting in a PAT margin of approximately 6.06% for Q2 FY27.
Basic and diluted earnings per share (EPS) for the current quarter rose to INR 7.44, up from INR 4.42 in the previous quarter.
Finance costs for the quarter were recorded at INR 35.22 crore, while depreciation and amortization expenses stood at INR 45.21 crore.
Tax expenses for Q2 FY27 were registered at INR 39.39 crore, and provisions stood at INR 2.89 crore.
Steel Strips Wheels Limited posted consolidated revenue from operations of INR 1,929.92 crore for Q2 FY27, reflecting a notable sequential expansion compared to the INR 1,509.82 crore reported in the preceding quarter (Q1 FY27).
01 · Business model
What does Steel Strips Wheels do?
Steel Strips Wheels Limited (SSWL) is a prominent automotive components manufacturer specializing in the production of steel, alloy, and aluminum wheels for various vehicle segments.
The company's primary revenue engine revolves around supplying OEM customers across passenger vehicles, commercial vehicles, tractors, and two-wheelers, catering to both domestic and international markets.
SSWL operates manufacturing facilities designed to handle high-volume stamping, rolling, and finishing processes required for complex automotive wheel applications.
The business model depends heavily on automotive production cycles, capacity utilization, raw material cost pass-through mechanisms, and operational efficiencies in wheel manufacturing.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹1,929.92 Cr | ₹1,509.82 Cr |
| Total income | ₹1,930.70 Cr | ₹1,510.66 Cr |
| Profit before tax | ₹156.19 Cr | ₹93.28 Cr |
| Profit after tax | ₹116.95 Cr | ₹69.45 Cr |
| EPS | ₹7.44 | ₹4.42 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 6.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 8.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹0.77 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations grew to INR 1,929.92 crore in Q2 FY27 from INR 1,509.82 crore in Q1 FY27, supported by higher volume off-take.
What drove margins
PAT margin expanded to 6.06% in Q2 FY27 from 4.60% in Q1 FY27, reflecting improved operating leverage on higher revenue.
PAT margin improved by approximately 146 basis points sequentially, moving from 4.60% in Q1 FY27 to 6.06% in Q2 FY27, aided by higher operating scale.
04 · Reported developments
What changed operationally
Both PBT and PAT demonstrated strong sequential growth, with PBT rising to INR 156.19 crore and PAT reaching INR 116.95 crore.
PAT rose by 68.39% quarter-on-quarter to reach INR 116.95 crore, reflecting strong sequential earnings momentum.
05 · Items worth noticing
The line items that can distort a quick read
The company reported provisions of INR 2.89 crore for the quarter ended September 30, 2026.
The company reported provisions amounting to INR 2.89 crore during the quarter.
06 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Finance cost for Q2 FY27 was recorded at INR 35.22 crore, compared to INR 32.26 crore in the preceding quarter.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Filing Disclosure
Financial results for Q2 FY27 were reviewed by the audit committee and approved by the board of directors in October 2026.
08 · Previous-quarter changes
What changed since the previous quarter
Revenue increased by 27.82% sequentially from INR 1,509.82 crore in Q1 FY27 to INR 1,929.92 crore in Q2 FY27.
Compared to Q1 FY27, revenue increased by 27.82% and PAT expanded by 68.39%.
09 · Key Q&A
The quarter, answered directly
What does Steel Strips Wheels do?
Steel Strips Wheels Limited (SSWL) is a prominent automotive components manufacturer specializing in the production of steel, alloy, and aluminum wheels for various vehicle segments.
What is the clearest takeaway from Q2 FY27?
During the quarter ended September 30, 2026 (Q2 FY27), Steel Strips Wheels Limited reported consolidated revenue from operations of INR 1,929.92 crore, reflecting a notable sequential expansion compared to INR 1,509.82 crore in the preceding quarter (Q1 FY27).
What drove revenue or demand?
Revenue from operations grew to INR 1,929.92 crore in Q2 FY27 from INR 1,509.82 crore in Q1 FY27, supported by higher volume off-take.
What mattered most for margins or profitability?
PAT margin expanded to 6.06% in Q2 FY27 from 4.60% in Q1 FY27, reflecting improved operating leverage on higher revenue.
What changed operationally beyond the headline numbers?
Financial results for Q2 FY27 were reviewed by the audit committee and approved by the board of directors in October 2026.
What should the next disclosure help confirm?
Monitor upcoming quarterly financial filings for revenue trajectory and margin stability.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Subsequent Quarter Performance: Monitor upcoming quarterly financial filings for revenue trajectory and margin stability.
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