📌 At a glance:
- FY25 PAT: ₹105.9 crore (+56% YoY)
- FY25 Revenue: ₹4,425 crore (–4.2%)
- Q4 Revenue: ₹1,195 crore (+2.4%)
- Q4 PAT: ₹36 crore (flat YoY)
- CMP: ₹740.00 (–4.23% today)
🏭 About the Company
Wheels India Ltd is a TVS Group company that manufactures wheels for commercial vehicles, passenger cars, tractors, railways, air suspension systems, and now even windmill components. Basically, if it moves, they probably make the wheels for it.
👔 Key Managerial Personnel
- MD: Srivats Ram
📊 FY25 Financials
| Metric | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Revenue | ₹4,425 cr | ₹4,619 cr | –4.2% |
| PAT | ₹105.9 cr | ₹67.9 cr | +56% |
| EBITDA | ₹325 cr | ₹275 cr | +18% |
| EBITDA Margin | 7.3% | 6.0% | +130 bps |
🔋 Capex & Growth Plans
- ₹250 crore spent in FY25, similar budgeted for FY26
- ₹100 cr focused on windmill component capacity
- Launch of aluminium wheels, growing exports
📈 Forward Fair Value (FV) Estimate
- FY27E PAT (15% CAGR) ≈ ₹160 crore
- Target P/E = 16x → Market Cap = ₹2,560 cr
- Shares Outstanding ~19.75 lakh → FV/share ≈ ₹1,295
- CMP = ₹740 → ~75% upside potential if they deliver
🌍 Industry & Outlook
- Rising demand in exports + EV shift = opportunity for aluminum and wind wheel products
- Domestic CV demand under pressure, but offset by exports
- Renewable energy exposure could become a major moat
🧠 EduInvesting Take
- Profit zooms 56%, margins improve, capex bold — yet stock tanks 4% today. What gives?
- Likely profit-booking, or Mr. Market’s classic “kya hi naya kiya?” mood
- Verdict: “WHEELS is rolling, but investors got motion sickness. Perfect time to hop on before the next acceleration.”
