Steel Strips Wheels Jumps 12% on Strong Q1 Profit

Shares of Steel Strips Wheels surged as much as 12% intraday on Wednesday, hitting Rs 283.00 on the NSE, after a sharp jump in Q1 profit.

The numbers behind the rally look solid. Net profit for the quarter rose 47% year-on-year to Rs 69.45 crore, while revenue from operations climbed 27.2% to Rs 1,509.8 crore.

Gross EBITDA grew 34% to Rs 162.95 crore, and the EBITDA margin improved to 10.8% from 10.2% a year earlier, pointing to better efficiency on the shop floor.

There’s more recent context too. The company’s June 2026 business update showed net turnover up 36.8% year-on-year to Rs 479.87 crore, with gross turnover rising 30% to Rs 554.10 crore. Alloy wheel sales by volume grew 23% during the month.

One segment stood out in particular. The 2 and 3 wheeler business was the fastest growing part of the company in June, with value up 74% and volume up 40% compared to a year ago.

The company linked this jump to rising EV adoption and a shift towards higher value products. The June quarter marks a turnaround from how the company closed the previous financial year.

In Q4 FY26, net profit had stayed flat at Rs 61 crore even as revenue grew 19.5% to Rs 1,474 crore. EBITDA margin had actually narrowed to 10.2% from 11% in that quarter, making this quarter’s improvement stand out more.

Shares of Steel Strips Wheels closed at Rs 262.46, up 4.84% on the NSE on Wednesday, as investors responded positively to the earnings beat and the strong momentum in the EV-linked wheel segment.

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