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Wheels India Ltd - Stock Valuation and Financial Performance

BSE: 590073 | NSE: WHEELS | Auto Ancillary | Small Cap

Wheels India Share Price

794.45 6.20 0.79%
as on 11-Jul'25 16:59

Wheels India Ltd - Stock Valuation and Financial Performance

BSE: 590073 | NSE: WHEELS | Auto Ancillary | Small Cap

DeciZen - make an informed investing decision on Wheels India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Undervalued

3. Price Trend

Wheels India stock performance -

mw4me loader
P/E Ratio (SA):
18.34
Market Cap:
1,941.1 Cr.
52-wk low:
548
52-wk high:
906.8

Is Wheels India Ltd an attractive stock to invest in?

1. Is Wheels India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Wheels India Ltd is a average quality company.

2. Is Wheels India Ltd undervalued or overvalued?

The key valuation ratios of Wheels India Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

3. Is Wheels India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Wheels India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Wheels India:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Wheels India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 14.6%15.4%17.1%18%9.7%5.2%12.6%12%13.2%16.3%-
Value Creation
Index
0.00.10.20.3-0.3-0.6-0.1-0.2-0.10.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,9872,1732,4603,1812,4292,2123,6874,3214,6074,4154,415
Sales YoY Gr.-9.3%13.2%29.3%-23.7%-8.9%66.7%17.2%6.6%-4.2%-
Adj EPS 16.526.225.132.121.1330.120.526.543.143.3
YoY Gr.-58.8%-4.5%28.1%-34.3%-86%920.7%-31.9%29.2%62.5%-
BVPS (₹) 169.6191.9214.2236.3248.3249.1280.6292.8325356.7356.7
Adj Net
Profit
39.863.260.377.250.87.172.549.464.8105106
Cash Flow from Ops. 148155117175159138-16.4359314400-
Debt/CF from Ops. 2.62.43.12.63.64.4-49.42.12.31.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.3%12.7%6.2%-4.2%
Adj EPS 11.2%15.3%12.7%62.5%
BVPS8.6%7.5%8.3%9.8%
Share Price 2.7% 12.6% 5.4% -7.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
10.114.512.414.38.71.211.478.512.612.1
Op. Profit
Mgn %
8.78.97.87.46.86.36.85.25.77.47.4
Net Profit
Mgn %
22.92.52.42.10.321.11.42.42.4
Debt to
Equity
10.80.70.8111.21.10.90.80.3
Working Cap
Days
12211912912717119916015414214765
Cash Conv.
Cycle
35324137536351493831-1

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 12.10%

Net Profit is growing at healthy rate in last 3 years 12.67%

Debt to equity has declined versus last 3 years average to 0.81

Sales growth has been subdued in last 3 years 6.20%

Sales growth is not so good in last 4 quarters at -4.16%

Latest Financials - Wheels India Ltd.

Standalone Consolidated
TTM EPS (₹) 43.3 45.4
TTM Sales (₹ Cr.) 4,415 4,744
BVPS (₹.) 356.7 377.4
Reserves (₹ Cr.) 847 898
P/BV 2.23 2.11
PE 18.34 17.50
From the Market
52 Week Low / High (₹) 548.00 / 906.80
All Time Low / High (₹) 26.39 / 1345.00
Market Cap (₹ Cr.) 1,941
Equity (₹ Cr.) 24.4
Face Value (₹) 10
Industry PE 46

Management X-Ray of Wheels India:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

No data found!

Key Ratios of Wheels India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,9872,1732,4603,1812,4292,2123,6874,3214,6074,415
Operating Expenses 1,8151,9872,2692,9482,2622,0733,4364,0994,3434,089
Manufacturing Costs188190207255180175275360353325
Material Costs1,2931,4291,6852,2351,6751,5272,6823,1393,3133,087
Employee Cost 232253260308284275352427479475
Other Costs 10211511715112396127173197201
Operating Profit 173186191233166139250223264327
Operating Profit Margin (%) 8.7%8.5%7.8%7.3%6.8%6.3%6.8%5.1%5.7%7.4%
Other Income 239810414241210
Interest 5848456262536396108110
Depreciation 60646770708195687986
Exceptional Items 00120000000
Profit Before Tax 567710110845101078289141
Tax 16183033-10327202135
Profit After Tax 40587276547806268106
PAT Margin (%) 2.0%2.7%2.9%2.4%2.2%0.3%2.2%1.4%1.5%2.4%
Adjusted EPS (₹)16.624.329.831.522.52.833.226.027.843.3
Dividend Payout Ratio (%)27%27%25%25%25%36%25%27%27%27%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 408462515569597599675704794871
Share Capital 12121224242424242424
Reserves 396450503545573575651680770847
Minority Interest0000000000
Debt336273292385459518674603659580
Long Term Debt189127134168236304238187252288
Short Term Debt147146158217223214436417407292
Trade Payables3684224725854417949601,0211,0601,118
Others Liabilities 178207253361345306420476349438
Total Liabilities 1,2901,3631,5331,9001,8422,2182,7292,8052,8613,008

Fixed Assets

Gross Block1,1061,1641,1081,2791,3931,6031,6631,8892,0082,262
Accumulated Depreciation5886386186787458218919561,0311,088
Net Fixed Assets5185264916006487837729339781,174
CWIP 172236421344385707546
Investments 1112161717171491224
Inventories298279349403388512770850848742
Trade Receivables346436478558458706868756723800
Cash Equivalents 5977433444
Others Assets9579154272193155217183221217
Total Assets 1,2901,3631,5331,9001,8422,2182,7292,8052,8613,008

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 148155117175159138-16359314400
PBT 56587476518786670106
Adjustment 120135119168114139185174233236
Changes in Working Capital -18-18-46-455-20-2521303968
Tax Paid -11-20-30-23-1110-27-11-28-10
Cash Flow From Investing Activity -69-75-40-183-199-110-116-145-141-255
Capex -74-77-97-186-200-111-116-147-141-249
Net Investments 405400000-4-12
Others 1233221246
Cash Flow From Financing Activity -82-75-74052-27122-210-140-146
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 8-15-233611643-20-44-37110
Interest Paid -56-46-46-63-57-54-61-93-106-101
Dividend Paid -10-15-20-22-22-6-2-27-10-29
Others -241154915-9206-4613-126
Net Cash Flow -253-8121-104330
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)10.1313.4214.6913.969.281.1312.529.069.0612.71
ROCE (%)14.5615.3817.1317.989.685.2412.5911.9513.216.29
Asset Turnover Ratio1.691.771.731.851.31.091.491.561.631.5
PAT to CFO Conversion(x)3.72.671.632.32.9419.71-0.25.794.623.77
Working Capital Days
Receivable Days61616759769678695963
Inventory Days46454643597463686766
Payable Days1021019786112148119115115129

Wheels India Ltd Stock News

Wheels India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Wheels India on 11-Jul-2025 16:59 is ₹794.5.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 11-Jul-2025 16:59 the market cap of Wheels India stood at ₹1,941.1.
The latest P/E ratio of Wheels India as of 11-Jul-2025 16:59 is 18.34.
The latest P/B ratio of Wheels India as of 11-Jul-2025 16:59 is 2.23.
The 52-week high of Wheels India is ₹906.8 and the 52-week low is ₹548.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Wheels India is ₹4,415 ( Cr.) .

About Wheels India Ltd

Wheels India, incorporated in 1960, is promoted by the TVS Group and was started in the early sixties to manufacture automobile wheels. Today, Wheels India has grown as a leading manufacturer of steel wheels for passenger cars, utility vehicles, trucks, buses, agricultural tractors and construction equipment in India. The company supplies 2/3rd of the domestic market requirement and exports 18% of the turnover to North America, Europe, Asia Pacific and South Africa. The company also has a technical-financial collaboration with Titan Europe.

The company's manufacturing units have received ISO 9001:2000 and ISO/TS 16949:2002 for quality management.

Wheels India has developed 'Air Suspension Systems' which are being marketed under the brand name TVS-WILRIDE. TVS-WILRIDE is the pioneer in Air Suspension Systems in India. It has been specially designed for Indian road conditions. There are approximately 1000 buses on the roads using TVS-WILRIDE Air Suspension Systems. The initial technical know-how was acquired from Dunlop, UK. TVS-WILRIDE Air Suspension Systems are currently being manufactured by Wheels India Limited, in a technical agreement with TRELLEBORG. 

Wheels India Limited engages in the design, manufacture, and sale of automobile wheels in India. It offers steel wheels for heavy vehicles, such as trucks, buses, light commercial vehicles, trailers, and tippers; light vehicles, including passenger cars, mini vans, sport utility vehicles, and multi utility vehicles; agricultural applications consisting of tractors, combines, and farm equipments; and off-road construction equipments, as well as wire wheels for contemporary and classic cars, sport utility vehicles, and multi utility vehicles.

Manufacturing locations:

Padi - The unit located in Padi, Chennai is engaged in manufacturing of wheels for trucks & buses, passenger cars and utility vehicles, off-road construction equipment, agricultural tractors and farm equipment, tracked vehicles and wire wheels. This unit stretches across 29 acres of land.

Pune - This unit located at Pune is spread across 15 acres of land manufacturing wheels for wheels for passenger cars and utility vehicles, agricultural tractors and farm equipment and truck (LCV) wheels.

Rampur - The unit located at Rampur, Uttar Pradesh is spread across 14 acres of land. The company manufactures wheels for agricultural tractors and farm equipment.

Bawal - The unit located Bawal, Haryana manufactures wheels for passenger cars and utility vehicles, agriculture tractors and farms equipment.

Wheel India is planning to set up a plant in Maharashtra spread across in 30 acres of land. The plant will undertake manufacturing of steel structural parts for power plant projects. The plant is anticipated to start its production in second quarter of 2009-10.

Products:

• Wheels for Heavy Vehicles (Trucks, Buses, Light Commercial Vehicles, Trailers, Tippers etc.)  

• Wheels for Light Vehicles (Passenger Cars, Mini Vans, SUVs & MUVs)  

• Wheels for Agricultural Applications (Tractors, Combines, Farm Equipments etc.) 

• Wheels for Off-Road Construction Equipments  

• Wire Wheels (For Contemporary & Classic Cars, MUVs & SUVs)  

• Air Suspension

Customers:

Export Customers: â€¢ CATERPILLAR - various plants  • KOMATSU - various plants  • VOLVO  • JCB  • TCM  • Shin Caterpillar Mitsubishi • Kawasaki Heavy Industries  • Hyundai Heavy Industries  • Mitsubishi Heavy Industries  • DOOSAN INFRACORE  • Case New Holland  • BELL Equipment  • KATO 

Domestic Customers: â€¢ Caterpillar India • Komatsu India Private India • JCB India  • Barath Earth Movers • Telecon  • Hindustan Motors  • Ingersoll Rand  • L&T  • Escorts  • TIL  • PL Haulwel Trailers  • INDITAL  • L&T CASE Equipment

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