Steel Strips Wheels Limited recorded net turnover of ₹385.98 crores in August 2025, marking a 6.3% increase from ₹363.10 crores in the same month last year. The Chandigarh-based automotive component manufacturer achieved this growth despite facing significant headwinds in its export business.
The company's gross turnover reached ₹475.06 crores, up 7.44% from ₹442.15 crores in August 2024. However, the overall performance masked divergent trends across different business segments, with domestic operations compensating for weak international sales.
Whereas, the tractor segment emerged as the standout performer, achieving what the company described as its highest-ever monthly sales with 10% growth by value year-on-year. This performance aligns with broader trends in India's agricultural machinery sector, where domestic tractor sales grew by 8.05% in July 2025, with 64,322 units sold compared to 59,530 units in July 2024.
Meanwhile, the aluminium products division recorded 30% growth in value terms, though volume growth was more modest at 21%. The truck segment also contributed positively with 9% value growth, despite volume increasing by just 1.4%.
Export Challenges
The company's export business faced substantial pressure, declining 29% by value and 58% by volume compared to August 2024. This downturn contrasts sharply with the broader Indian automotive export trends, where automobile exports from India surged by 19% to over 5.3 million units in FY25, driven by strong demand for passenger vehicles, two-wheelers, and commercial vehicles in international markets.
The passenger car steel segment also struggled, declining 37% by value and 22% by volume, while the two and three-wheeler segment remained flat with minimal 1% volume growth.
The company maintains a market capitalisation of ₹3,397 crores, positioning it as a significant player in India's automotive components industry. The company engages in the design, manufacture, and sale of automotive wheel rims and other auto components in India and internationally, serving both domestic and global automobile manufacturers.
The mixed performance reflects the complex dynamics facing India's automotive component suppliers, who must navigate varying demand patterns across different vehicle categories while managing global market pressures. The strong tractor performance particularly benefits from India's agricultural sector momentum, even as passenger vehicle components face different market conditions.