Steel Strips Wheels Limited — Investor Meet, 19-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

SSWL's H1 FY26 saw revenue at INR2,387 Cr (+13%) but flat EBITDA at INR234 Cr and PAT of INR88 Cr, pressured by lower export volumes. Alloy wheels contributed 36% of revenue; new aluminum knuckles added INR33 Cr. Export revenue fell 26% to INR111 Cr due to US tariffs, prompting a European market shift. Management aims for INR260-265 EBITDA per wheel, targeting INR300 in 2-3 years. FY26 volume growth is now estimated at 2-3%, with flat EBITDA (INR470-480 Cr). INR250 Cr capex is planned for alloy wheels and knuckles capacity. The company shows confidence in domestic growth and new segments, but remains cautious on global export issues.