Wheels IndiaNSE:WHEELS
Current view Q4 2026
Wheel and parts maker recovering nicely, but the promised double-digit profit margin has been '2 years away' for years and is still stuck near 8%. Rising steel and fuel costs are a fresh worry.
Latest exchange filings last 5 · 5 after Q4 2026
- 18 Sep ’26Outcome of EGM 18 Sep ↗
- 18 Sep ’26Disclosure of Voting results of EGM (Regulation 44(3) of SEBI (LODR) Regulations, 2015) 18 Sep ↗
- 9 Sep ’26Exchange has sought clarification from Wheels India Ltd on September 09, 2026 with reference to significant movement in price, in order to ensure that investors …
- 7 Sep ’26Investor presentation and conference calls with fund managers, analysts and investors from September 7-9, 2026. ↗
- 2 Sep ’26Wheels India schedules analyst and institutional group meetings with ICICI Securities in Mumbai, September 7-9, 2026. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +22.5% | +14.1% | +5.6% | +17.8% |
| Operating profit | ▲ +22.3% | +26.0% | +21.6% | +25.1% |
| EPS | ▲ +52.0% | +61.1% | +40.2% | +142.3% |
| PAT | ▲ +51.3% | +59.5% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +22.5%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average55/100
Growing fast — and the market has noticed. Profit per share grew 40% a year, and buyers now pay more for each rupee of it than they did a year ago. Some of the re-pricing has already happened.
₹2,324 → ₹4,648 needs the P/E at 27× — it is 37× today, and has ranged 13× to 36× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 40× — never traded above 36× in 5 years.
At ₹1,301 the price-tag on its earnings reaches the 21× it is being projected toward — the point where being cheap against that yardstick is used up.
Re-rated already, on growth that doesn't fully back it.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a small-cap at ₹5,174 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 40.2% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 52%.
How it compares with its rivals Auto · 6 of 129 listed
These are the industry's largest names rather than companies of its own size, so the columns are worth reading straight across — a ranking against them would only be restating the size gap.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Wheels India | ₹2,146 | 32.1× | ₹5,243 Cr | 18.8% | +28.2% | +17.8% |
| Samvardh. Mothe. | ₹164 | 38.0× | ₹1.74 L Cr | 13.4% | +81.5% | +16.6% |
| Bosch | ₹47,778 | 59.6× | ₹1.41 L Cr | 21.5% | +5.2% | +22.0% |
| Bharat Forge | ₹1,990 | 94.2× | ₹95,135 Cr | 12.6% | −57.7% | +18.7% |
| Uno Minda | ₹1,241 | 58.6× | ₹71,687 Cr | 19.6% | +1.8% | +23.8% |
| Schaeffler India | ₹4,140 | 50.1× | ₹64,702 Cr | 27.9% | +13.7% | +17.5% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — a little wider than 3 years earlier | operating margin 5% → 8% over 3 years |
|---|---|---|
| Did the profit turn into cash? | more than all of it — reserves released cash too | 124% last year, 125% over three · free cash flow ₹203 cr, positive in 4 of 5 years |
| Is the growth borrowed? | borrowed about as much as it owns | ₹768 cr — 0.74× its own equity (was 0.80×) |
| Is it being collected? | collection is steady | 55 days to collect, down 7 in a year · cash cycle −3 days |
| Who has been buying? | the promoters have held steady | promoters 58.3%, 58.3% → 58.3% over 2.8 years · FIIs 2.0% (+1.4) · DIIs 6.4% (−5.3) · shareholders 16,245 → 29,271 |
| What does it earn on its capital? | earns a fair return on its capital | ROCE 18.8% · ROE 15.8% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company has delivered good profit growth of 143% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 25.6%
Against it
- Company has a low return on equity of 12.4% over last 3 years.
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.