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Last Updated: April 2, 2026, 3:56 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 590073 | NSE: WHEELS

Wheels India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹715.20Overvalued by 27.61%vs CMP ₹988.00

P/E (17.8) × ROE (12.6%) × BV (₹394.00) × DY (1.17%)

₹758.37Overvalued by 23.24%vs CMP ₹988.00
MoS: -30.3% (Negative)Confidence: 54/100 (Moderate)Models: 1 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹799.0526%Over (-19.1%)
Graham NumberEarnings₹700.2918%Over (-29.1%)
DCFCash Flow₹704.6215%Over (-28.7%)
Net Asset ValueAssets₹394.308%Over (-60.1%)
EV/EBITDAEnterprise₹1,520.6910%Under (+53.9%)
Earnings YieldEarnings₹553.208%Over (-44%)
ROCE CapitalReturns₹319.428%Over (-67.7%)
Revenue MultipleRevenue₹971.216%Fair (-1.7%)
Consensus (8 models)₹758.37100%Overvalued
Key Drivers: Wide model spread (₹319–₹1,521) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.7%

*Investments are subject to market risks

Investment Snapshot

68
Wheels India Ltd scores 68/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health65/100 · Strong
ROCE 16.4% GoodROE 12.6% GoodD/E 0.86 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.80% (6mo) Slight increaseDII holding down 1.87% MF sellingPromoter holding at 58.3% Stable
Earnings Quality60/100 · Moderate
OPM stable around 6% SteadyWorking capital: -11 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +9% YoY GrowingProfit (4Q): +25% YoY Strong
Industry Rank85/100 · Strong
P/E 17.8 vs industry 42.7 Cheaper than peersROCE 16.4% vs industry 13.5% Above peersROE 12.6% vs industry 10.0% Above peers3Y sales CAGR: 6% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:56 am

Market Cap 2,413 Cr.
Current Price 988
Intrinsic Value₹758.37
High / Low 1,109/571
Stock P/E17.8
Book Value 394
Dividend Yield1.17 %
ROCE16.4 %
ROE12.6 %
Face Value 10.0
PEG Ratio1.52

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Wheels India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Wheels India Ltd 2,413 Cr. 988 1,109/57117.8 3941.17 %16.4 %12.6 % 10.0
Steel Strips Wheels Ltd 2,953 Cr. 188 280/16914.8 1040.67 %16.8 %14.5 % 1.00
Enkei Wheels India Ltd 663 Cr. 369 568/35795.4 1270.00 %7.34 %2.95 % 5.00
Industry Average2,009.67 Cr515.0042.67208.330.61%13.51%10.02%5.33

All Competitor Stocks of Wheels India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,0781,2511,2121,2841,2101,2711,1661,1761,1251,2771,2661,2641,371
Expenses 1,0331,1811,1531,2361,1501,1741,0861,0931,0401,1741,1721,1711,271
Operating Profit 4570584860977983851039493100
OPM % 4%6%5%4%5%8%7%7%8%8%7%7%7%
Other Income 15647254233478
Interest 27303130303129313130313030
Depreciation 18192021212223232424262729
Profit before tax 1426113115031323352414249
Tax % 26%17%21%-12%19%24%25%25%24%25%25%25%24%
Net Profit 11219393824242539313237
EPS in Rs 4.989.284.071.784.1415.769.669.8210.2515.6512.2312.6814.76

Last Updated: February 3, 2026, 2:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 11:43 am

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,9872,1732,5633,4412,6722,4133,9664,6404,9774,7445,178
Expenses 1,8151,9872,3643,1962,5002,2703,7124,4204,7114,3924,788
Operating Profit 172186199245172143255221266352390
OPM % 9%9%8%7%6%6%6%5%5%7%8%
Other Income 24238821626161122
Interest 58484566675971106122122121
Depreciation 606470797886101748593107
Profit before tax 5678106108361986675149183
Tax % 29%24%29%30%-33%85%24%22%21%25%
Net Profit 41597576470745159112138
EPS in Rs 17.0724.5831.1531.7920.390.7631.7823.0025.6945.3955.32
Dividend Payout % 26%26%24%25%28%132%26%30%29%25%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212022-20232023-20242024-2025
YoY Net Profit Growth (%)43.90%27.12%1.33%-38.16%-100.00%-31.08%15.69%89.83%
Change in YoY Net Profit Growth (%)0.00%-16.78%-25.79%-39.49%-61.84%68.92%46.77%74.14%

Wheels India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2016-2017 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:12%
3 Years:6%
TTM:-2%
Compounded Profit Growth
10 Years:%
5 Years:18%
3 Years:13%
TTM:54%
Stock Price CAGR
10 Years:3%
5 Years:12%
3 Years:3%
1 Year:-10%
Return on Equity
10 Years:%
5 Years:8%
3 Years:9%
Last Year:13%

Last Updated: September 5, 2025, 1:56 pm

Balance Sheet

Last Updated: December 4, 2025, 2:13 am

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 1212122424242424242424
Reserves 402457575616640637710731815898939
Borrowings 386369359495650698876819778737736
Other Liabilities 4955327188806741,1181,3641,4741,4871,5301,607
Total Liabilities 1,2951,3691,6632,0151,9872,4762,9743,0483,1043,1883,306
Fixed Assets 5185265577107538839031,0601,1491,2951,330
CWIP 17226565198114126114775063
Investments 1719212323232422324673
Other Assets 7438021,0191,2161,0131,4561,9211,8511,8451,7971,841
Total Assets 1,2951,3691,6632,0151,9872,4762,9743,0483,1043,1883,306

Reserves and Borrowings Chart

Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 14815513118418414828370329400
Cash from Investing Activity + -69-75-135-230-242-118-120-152-150-213
Cash from Financing Activity + -82-7593870-3184-216-146-188
Net Cash Flow -255-912-0-9334-0
Free Cash Flow 7478-64-50-6029-94217179192
CFO/OP 92%94%81%84%114%96%22%173%134%117%

Free Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-214.00-183.00-160.00-250.00-478.00-555.00-621.00-598.00-512.00-385.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 647369626511282605362
Inventory Days 8471786681119101958985
Days Payable 1041081039799195136124121135
Cash Conversion Cycle 44374431463646312112
Working Capital Days 151017925-3-13-8-11
ROCE %15%15%16%8%4%11%11%12%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 58.73%58.73%58.31%58.31%58.31%58.31%58.31%58.31%58.31%58.31%58.31%58.31%
FIIs 0.42%0.21%0.26%0.19%0.29%0.81%0.42%0.34%0.38%0.57%1.08%1.18%
DIIs 20.02%20.02%18.81%18.32%13.13%12.16%11.99%11.68%11.68%11.64%10.68%9.81%
Public 20.83%21.04%22.61%23.18%28.27%28.72%29.28%29.67%29.63%29.48%29.93%30.70%
No. of Shareholders 15,58715,35216,24516,77520,43421,22622,68623,19323,65722,87322,55822,678

Shareholding Pattern Chart

No. of Shareholders

Wheels India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Multi Cap Fund 1,134,390 0.52 102.3N/AN/AN/A
Nippon India ELSS Tax Saver Fund 1,041,294 0.63 93.91,074,0032026-02-23 01:17:47-3.05%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 45.3925.6924.1331.780.76
Diluted EPS (Rs.) 45.3925.6924.1331.780.76
Cash EPS (Rs.) 81.4155.5150.4171.4535.66
Book Value[Excl.RevalReserv]/Share (Rs.) 377.40343.74317.61312.01282.63
Book Value[Incl.RevalReserv]/Share (Rs.) 377.40343.74317.61312.01282.63
Revenue From Operations / Share (Rs.) 1942.042037.371933.151648.581003.06
PBDIT / Share (Rs.) 146.19112.1899.43110.9960.41
PBIT / Share (Rs.) 108.0477.4269.4569.0224.84
PBT / Share (Rs.) 58.2827.2826.7039.310.36
Net Profit / Share (Rs.) 43.2520.7520.4229.490.08
NP After MI And SOA / Share (Rs.) 45.4025.6924.1431.780.75
PBDIT Margin (%) 7.525.505.146.736.02
PBIT Margin (%) 5.563.803.594.182.47
PBT Margin (%) 3.001.331.382.380.03
Net Profit Margin (%) 2.221.011.051.780.00
NP After MI And SOA Margin (%) 2.331.261.241.920.07
Return on Networth / Equity (%) 12.027.477.5910.420.27
Return on Capital Employeed (%) 20.1715.6815.9915.525.51
Return On Assets (%) 3.472.021.922.570.07
Long Term Debt / Equity (X) 0.320.340.260.340.50
Total Debt / Equity (X) 0.780.901.001.160.86
Asset Turnover Ratio (%) 1.511.631.551.421.05
Current Ratio (X) 0.920.940.930.981.03
Quick Ratio (X) 0.510.470.500.560.63
Inventory Turnover Ratio (X) 5.754.164.234.293.35
Dividend Payout Ratio (NP) (%) 9.9015.2112.433.15350.54
Dividend Payout Ratio (CP) (%) 5.386.465.541.357.29
Earning Retention Ratio (%) 90.1084.7987.5796.85-250.54
Cash Earning Retention Ratio (%) 94.6293.5494.4698.6592.71
Interest Coverage Ratio (X) 2.942.242.333.742.47
Interest Coverage Ratio (Post Tax) (X) 1.871.411.481.991.00
Enterprise Value (Cr.) 2148.242222.411859.922092.561676.77
EV / Net Operating Revenue (X) 0.450.440.390.520.69
EV / EBITDA (X) 6.018.117.777.8411.54
MarketCap / Net Operating Revenue (X) 0.290.290.230.310.45
Retention Ratios (%) 90.0984.7887.5696.84-250.54
Price / BV (X) 1.541.741.421.681.65
Price / Net Operating Revenue (X) 0.290.290.230.310.45
EarningsYield 0.070.040.050.060.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Wheels India Ltd. is a Public Limited Listed company incorporated on 13/06/1960 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L35921TN1960PLC004175 and registration number is 004175. Currently Company is involved in the business activities of Manufacture of diverse parts and accessories for motor vehecles sucs as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes etc.. Company's Total Operating Revenue is Rs. 4415.33 Cr. and Equity Capital is Rs. 24.43 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - Dr. Trans & Steer - WheelsNo.21, Patullos Road, Chennai (Madras) Tamil Nadu 600002Contact not found
Management
NamePosition Held
Mr. S RamChairman
Mr. Srivats RamManaging Director
Mr. S VijiDirector
Ms. Sumithra GomatamDirector
Mr. R Raghuttama RaoDirector
Mr. Rishikesha T KrishnanDirector
Mr. M P Vijay KumarDirector

FAQ

What is the intrinsic value of Wheels India Ltd and is it undervalued?

As of 14 April 2026, Wheels India Ltd's intrinsic value is ₹758.37, which is 23.24% lower than the current market price of ₹988.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (12.6 %), book value (₹394), dividend yield (1.17 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Wheels India Ltd?

Wheels India Ltd is trading at ₹988.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,109 and low of ₹571. The stock is currently near its 52-week high. Market cap stands at ₹2,413 Cr..

How does Wheels India Ltd's P/E ratio compare to its industry?

Wheels India Ltd has a P/E ratio of 17.8, which is below the industry average of 42.67. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Wheels India Ltd financially healthy?

Key indicators for Wheels India Ltd: ROCE of 16.4 % indicates efficient capital utilization. Dividend yield is 1.17 %.

Is Wheels India Ltd profitable and how is the profit trend?

Wheels India Ltd reported a net profit of ₹112 Cr in Mar 2025 on revenue of ₹4,744 Cr. Compared to ₹74 Cr in Mar 2022, the net profit shows an improving trend.

Does Wheels India Ltd pay dividends?

Wheels India Ltd has a dividend yield of 1.17 % at the current price of ₹988.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Wheels India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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