Steel Strips Wheels Announces ₹1.50 Dividend, New ₹1,400 Crore Plant, And Senior Leadership Appointment

Mumbai: Steel Strips Wheels Ltd on Friday reported a 125.12 per cent increase in consolidated net profit to ₹186.40 crore for the half-year ended 30 September 2026, compared to ₹82.76 crore in the same period last year.

Half-Year Financial Performance

Consolidated revenue from operations for the half-year rose to ₹3,439.74 crore, up from ₹2,387.35 crore in the corresponding period of the previous fiscal year. Total income for the period increased to ₹3,441.36 crore from ₹2,389.08 crore a year ago.

Total expenses for H1 FY27 stood at ₹3,191.89 crore, compared to ₹2,279.83 crore in H1 FY26. Earnings per share (EPS) for the half-year were ₹11.86, an increase from ₹5.27 reported in H1 FY26.

Quarterly Financial Performance

For the quarter ended 30 September 2026, the company's consolidated net profit was ₹116.95 crore, a rise of 229.38 per cent from ₹35.52 crore in the year-ago quarter. Revenue from operations for the quarter grew to ₹1,929.92 crore from ₹1,200.57 crore in Q2 FY26.

Total expenses for the quarter ended 30 September 2026 were ₹1,774.51 crore, up from ₹1,153.34 crore in the same quarter last year. EPS for the quarter was ₹7.44, compared to ₹2.26 in Q2 FY26.

Interim Dividend Declared

The Board of Directors approved an interim dividend of ₹1.50 per equity share with a face value of ₹1 for the financial year 2026-27. The record date for ascertaining shareholder eligibility for this dividend has been fixed as 30 October 2026, with payment scheduled on or before 21 November 2026.

New Manufacturing Facility

The company's Board approved setting up a greenfield manufacturing facility in Chhatrapati Sambhajinagar (Aurangabad), Maharashtra. This facility will produce alloy wheels, steel wheels for passenger vehicles and OTR, and a hot stamping line.

The estimated project outlay for this facility is ₹1,400 crore, to be spread over 60 months. The project is subject to regulatory approvals and clearances. The estimated capex for alloy wheels is ₹815 crore, for steel wheels is ₹410 crore, and for the hot stamping line is ₹175 crore.

Senior Management Appointment

Sh Pranav Jain has been appointed as Vice-President (Finance & Accounts) and a Senior Management Personnel, effective 23 October 2026. Jain is a Chartered Accountant and commerce graduate who has been with the company for nearly 14 years, overseeing finance, accounts, and commercial functions across corporate and plant operations.

Lease Agreement Renewal

The Board approved the renewal of a lease agreement with AMW Autocomponent Limited (AACL), a wholly owned subsidiary of the company. The lease is for premises on a leasehold basis for a period of up to five years, commencing 26 November 2026, with an option for extension.

Disclaimer: This report is based on the company's filed financial results (standalone or consolidated, as applicable) and is intended solely for informational purposes.