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Steel Strips Wheels

NSEI:SSWL
Snowflake Description

Proven track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SSWL
NSEI
₹12B
Market Cap
  1. Home
  2. IN
  3. Automobiles
Company description

Steel Strips Wheels Limited designs, manufactures, and sells automotive steel wheels in India and internationally. The last earnings update was 30 days ago. More info.


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SSWL Share Price and Events
7 Day Returns
-0%
NSEI:SSWL
0.3%
IN Auto Components
1%
IN Market
1 Year Returns
-33%
NSEI:SSWL
-22.3%
IN Auto Components
1%
IN Market
SSWL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Steel Strips Wheels (SSWL) -0% -2.9% -7.3% -33% 75.4% 187.1%
IN Auto Components 0.3% -4.9% -10.5% -22.3% 12.1% 53.4%
IN Market 1% -2.1% -0.7% 1% 30.4% 35.1%
1 Year Return vs Industry and Market
  • SSWL underperformed the Auto Components industry which returned -22.3% over the past year.
  • SSWL underperformed the Market in India which returned 1% over the past year.
Price Volatility
SSWL
Industry
5yr Volatility vs Market

SSWL Value

 Is Steel Strips Wheels undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Steel Strips Wheels to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Steel Strips Wheels.

NSEI:SSWL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 20.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:SSWL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.2
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.205 (1 + (1- 35%) (69.29%))
1.501
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.5
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.501 * 8.6%)
20.46%

Discounted Cash Flow Calculation for NSEI:SSWL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Steel Strips Wheels is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:SSWL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 20.46%)
2019 -120.48 Est @ 26.41% -100.02
2020 1,342.00 Analyst x1 924.91
2021 1,901.00 Analyst x1 1,087.69
2022 2,295.54 Est @ 20.75% 1,090.38
2023 2,681.02 Est @ 16.79% 1,057.23
2024 3,056.90 Est @ 14.02% 1,000.75
2025 3,426.14 Est @ 12.08% 931.16
2026 3,793.44 Est @ 10.72% 855.90
2027 4,164.03 Est @ 9.77% 779.97
2028 4,543.10 Est @ 9.1% 706.46
Present value of next 10 years cash flows ₹8,334.42
NSEI:SSWL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹4,543.10 × (1 + 7.55%) ÷ (20.46% – 7.55%)
₹37,860.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹37,860.93 ÷ (1 + 20.46%)10
₹5,887.48
NSEI:SSWL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹8,334.42 + ₹5,887.48
₹14,221.90
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹14,221.90 / 15.59
₹912.26
NSEI:SSWL Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:SSWL represents 0.99956x of BSE:513262
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99956x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 912.26 x 0.99956
₹911.86
Value per share (INR) From above. ₹911.86
Current discount Discount to share price of ₹787.05
= -1 x (₹787.05 - ₹911.86) / ₹911.86
13.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Steel Strips Wheels is available for.
Intrinsic value
14%
Share price is ₹787.05 vs Future cash flow value of ₹911.86
Current Discount Checks
For Steel Strips Wheels to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Steel Strips Wheels's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Steel Strips Wheels's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Steel Strips Wheels's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Steel Strips Wheels's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:SSWL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹52.88
BSE:513262 Share Price ** BSE (2019-06-26) in INR ₹787.4
India Auto Components Industry PE Ratio Median Figure of 102 Publicly-Listed Auto Components Companies 14.97x
India Market PE Ratio Median Figure of 2,825 Publicly-Listed Companies 15.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Steel Strips Wheels.

NSEI:SSWL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:513262 Share Price ÷ EPS (both in INR)

= 787.4 ÷ 52.88

14.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Steel Strips Wheels is good value based on earnings compared to the IN Auto Components industry average.
  • Steel Strips Wheels is good value based on earnings compared to the India market.
Price based on expected Growth
Does Steel Strips Wheels's expected growth come at a high price?
Raw Data
NSEI:SSWL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
16.4%per year
India Auto Components Industry PEG Ratio Median Figure of 32 Publicly-Listed Auto Components Companies 1.24x
India Market PEG Ratio Median Figure of 523 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

NSEI:SSWL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.89x ÷ 16.4%

0.91x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Steel Strips Wheels is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Steel Strips Wheels's assets?
Raw Data
NSEI:SSWL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹437.38
BSE:513262 Share Price * BSE (2019-06-26) in INR ₹787.4
India Auto Components Industry PB Ratio Median Figure of 112 Publicly-Listed Auto Components Companies 1.63x
India Market PB Ratio Median Figure of 3,653 Publicly-Listed Companies 0.96x
NSEI:SSWL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:513262 Share Price ÷ Book Value per Share (both in INR)

= 787.4 ÷ 437.38

1.8x

* Primary Listing of Steel Strips Wheels.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Steel Strips Wheels is overvalued based on assets compared to the IN Auto Components industry average.
X
Value checks
We assess Steel Strips Wheels's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check)
  5. Steel Strips Wheels has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SSWL Future Performance

 How is Steel Strips Wheels expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Steel Strips Wheels expected to grow at an attractive rate?
  • Steel Strips Wheels's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Steel Strips Wheels's earnings growth is positive but not above the India market average.
  • Steel Strips Wheels's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:SSWL Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:SSWL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 16.4%
NSEI:SSWL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 10.2%
India Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 13.9%
India Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 9.2%
India Market Earnings Growth Rate Market Cap Weighted Average 16.7%
India Market Revenue Growth Rate Market Cap Weighted Average 9.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:SSWL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:SSWL Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 25,021 2,401 1,141 1
2020-03-31 23,136 2,160 1,055 1
NSEI:SSWL Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 20,412 824
2018-12-31 19,456 848
2018-09-30 18,604 833
2018-06-30 17,071 802
2018-03-31 15,182 2,511 751
2017-12-31 14,685 780
2017-09-30 14,038 725
2017-06-30 13,175 702
2017-03-31 13,300 1,211 557
2016-12-31 12,604 688
2016-09-30 12,064 706
2016-06-30 12,147 676

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Steel Strips Wheels's earnings are expected to grow by 16.4% yearly, however this is not considered high growth (20% yearly).
  • Steel Strips Wheels's revenue is expected to grow by 10.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:SSWL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Steel Strips Wheels Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:SSWL Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 73.20 73.20 73.20 1.00
2020-03-31 67.70 67.70 67.70 1.00
NSEI:SSWL Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 52.88
2018-12-31 54.50
2018-09-30 53.54
2018-06-30 51.56
2018-03-31 48.28
2017-12-31 50.13
2017-09-30 46.46
2017-06-30 45.16
2017-03-31 35.98
2016-12-31 44.64
2016-09-30 46.03
2016-06-30 44.28

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Steel Strips Wheels is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Steel Strips Wheels's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Steel Strips Wheels has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SSWL Past Performance

  How has Steel Strips Wheels performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Steel Strips Wheels's growth in the last year to its industry (Auto Components).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Steel Strips Wheels has delivered over 20% year on year earnings growth in the past 5 years.
  • Steel Strips Wheels's 1-year earnings growth is less than its 5-year average (9.7% vs 21.1%)
  • Steel Strips Wheels's earnings growth has exceeded the IN Auto Components industry average in the past year (9.7% vs 5.5%).
Earnings and Revenue History
Steel Strips Wheels's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Steel Strips Wheels Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:SSWL Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 20,411.88 823.56 1,882.69
2018-12-31 19,456.21 848.33 1,832.51
2018-09-30 18,604.08 833.19 1,689.88
2018-06-30 17,071.43 801.98 1,500.97
2018-03-31 15,181.91 750.91 1,417.09
2017-12-31 14,685.03 779.50 1,287.23
2017-09-30 14,038.38 724.56 1,257.95
2017-06-30 13,174.97 701.55 1,206.14
2017-03-31 13,299.60 556.83 1,225.62
2016-12-31 12,604.00 687.84 1,228.93
2016-09-30 12,064.19 706.13 1,146.74
2016-06-30 12,147.41 676.27 1,068.39
2016-03-31 11,818.88 611.81 1,060.76
2015-12-31 11,670.97 546.08 1,893.80 26.14
2015-09-30 11,525.62 486.38 1,851.22 26.14
2015-06-30 11,689.15 453.25 910.79
2015-03-31 11,528.16 394.04 897.66
2014-12-31 11,642.28 317.60 1,754.84 28.42
2014-09-30 11,462.52 287.90 1,734.61 28.42
2014-06-30 10,951.90 243.60 804.50
2014-03-31 10,638.32 243.30 1,655.41 28.42
2013-12-31 9,851.83 287.47 1,396.97 17.59
2013-09-30 9,637.83 262.87 1,344.87 17.59
2013-06-30 9,562.00 245.30 640.30
2013-03-31 9,699.33 250.47 1,289.07 17.59
2012-12-31 9,996.70 230.54 1,235.09 15.76
2012-09-30 10,096.42 229.82 1,224.86 15.76
2012-06-30 9,859.73 239.39 564.94

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Steel Strips Wheels has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Steel Strips Wheels used its assets more efficiently than the IN Auto Components industry average last year based on Return on Assets.
  • Steel Strips Wheels has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Steel Strips Wheels's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Steel Strips Wheels has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SSWL Health

 How is Steel Strips Wheels's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Steel Strips Wheels's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Steel Strips Wheels's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Steel Strips Wheels's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Steel Strips Wheels's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Steel Strips Wheels Company Filings, last reported 2 months ago.

NSEI:SSWL Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 6,816.88 8,509.97 1,210.01
2018-12-31 6,491.62 8,493.66 990.69
2018-09-30 6,491.62 8,493.66 990.69
2018-06-30 5,842.77 11,029.92 1,310.25
2018-03-31 5,842.77 10,200.49 335.63
2017-12-31 5,886.44 10,304.89 1,052.99
2017-09-30 5,886.44 10,304.89 1,052.99
2017-06-30 5,413.53 9,846.04 1,207.29
2017-03-31 5,120.21 8,603.00 500.75
2016-12-31 5,097.37 7,365.14 1,238.43
2016-09-30 5,097.37 7,365.14 1,238.43
2016-06-30 4,590.64 6,899.11 1,218.01
2016-03-31 4,590.64 6,525.67 1,218.01
2015-12-31 4,231.19 6,041.26 775.04
2015-09-30 4,231.19 6,041.26 775.04
2015-06-30 3,986.89 5,602.91 1,000.91
2015-03-31 3,986.89 6,134.12 1,000.91
2014-12-31 3,781.84 6,018.22 337.35
2014-09-30 3,781.84 6,018.22 337.35
2014-06-30 3,646.69 6,578.16 454.99
2014-03-31 3,642.49 6,578.16 454.99
2013-12-31 3,559.20 5,838.89 438.76
2013-09-30 3,559.20 5,838.89 438.76
2013-06-30 3,424.30 6,119.51 536.72
2013-03-31 3,424.30 6,119.51 636.72
2012-12-31 3,322.93 5,065.80 456.59
2012-09-30 3,322.93 5,065.80 456.59
2012-06-30 3,090.90 5,049.37 227.63
  • Steel Strips Wheels's level of debt (124.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (180.6% vs 124.8% today).
  • Debt is well covered by operating cash flow (29.5%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Steel Strips Wheels's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Steel Strips Wheels has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SSWL Dividends

 What is Steel Strips Wheels's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.51%
Current annual income from Steel Strips Wheels dividends. Estimated to be 0.65% next year.
If you bought ₹2,000 of Steel Strips Wheels shares you are expected to receive ₹10 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Steel Strips Wheels's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.55%).
  • Steel Strips Wheels's dividend is below the markets top 25% of dividend payers in India (2.08%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:SSWL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
India Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 81 Stocks 1%
India Market Average Dividend Yield Market Cap Weighted Average of 1447 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:SSWL Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 5.30 1.00
2020-03-31 4.90 1.00
NSEI:SSWL Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-27 4.000 0.504
2018-09-05 4.000 0.433
2017-09-29 3.000 0.275
2016-10-28 3.000 0.399
2015-10-23 3.000 0.723
2015-09-04 2.000 0.593
2015-04-24 2.000 0.652
2014-09-08 1.500 0.472
2014-05-30 1.500 0.617
2013-09-11 1.500 1.084
2013-05-29 1.500 1.140
2012-08-31 1.500 0.824
2012-05-29 1.500 0.825
2011-08-03 1.500 0.701
2011-05-30 1.500 0.551
2010-06-22 1.000 0.372
2010-04-12 0.000 0.000
2010-02-01 0.000 0.000
2009-03-31 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Steel Strips Wheels has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Steel Strips Wheels only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Steel Strips Wheels's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (13.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (13.8x coverage).
X
Income/ dividend checks
We assess Steel Strips Wheels's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Steel Strips Wheels afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Steel Strips Wheels has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SSWL Management

 What is the CEO of Steel Strips Wheels's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dheeraj Garg
COMPENSATION ₹51,643,000
AGE 46
TENURE AS CEO 26 years
CEO Bio

Shri. Dheeraj Garg has been the Managing Director of Steel Strips Wheels Limited since June 26, 1993 and has been its Executive Director since April 29, 1993. Shri. Garg serves as Managing Director of Steel Strips Wheels Ltd. Shri. Garg serves as Additional Managing Director of Indian Acrylics Ltd. Shri. Garg has been a Whole-Time Director of Indian Acrylics Ltd. since November 29, 1997. Shri. Garg has been associated with Steel Strips Wheels Limited for more than 21 years. His leadership and the valuable guidance, has contributed immensely to the growth of the Steel Strips Wheels which is evident from the financial results there of. Over the years, he has been able to build a highly motivated and effective management team, which hasfully alignedand focused priorities. He has B.Sc. (Finance) from U.S.A.

CEO Compensation
  • Dheeraj's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dheeraj's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Steel Strips Wheels management team in years:

10.4
Average Tenure
54.5
Average Age
  • The average tenure for the Steel Strips Wheels management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dheeraj Garg

TITLE
MD & Executive Director
COMPENSATION
₹52M
AGE
46
TENURE
26 yrs

Shaman Jindal

TITLE
CGM & Company Secretary
COMPENSATION
₹3M

Andra Unnikrishnan

TITLE
Deputy MD & Executive Director
COMPENSATION
₹5M
AGE
63
TENURE
10.4 yrs

Manohar Jain

TITLE
Executive Director
COMPENSATION
₹5M
AGE
63

Ayush Thareja

TITLE
Chief Financial Officer
AGE
31
TENURE
0.3 yrs

Mohan Joshi

TITLE
Chief Investor Relations Officer
Board of Directors Tenure

Average tenure and age of the Steel Strips Wheels board of directors in years:

10.4
Average Tenure
67
Average Age
  • The average tenure for the Steel Strips Wheels board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Rajinder Garg

TITLE
Chairman
COMPENSATION
₹60K
AGE
75

Dheeraj Garg

TITLE
MD & Executive Director
COMPENSATION
₹52M
AGE
46
TENURE
26 yrs

Andra Unnikrishnan

TITLE
Deputy MD & Executive Director
COMPENSATION
₹5M
AGE
63
TENURE
10.4 yrs

Manohar Jain

TITLE
Executive Director
COMPENSATION
₹5M
AGE
63
TENURE
3.9 yrs

Sudhanshu Jha

TITLE
Independent Non Executive Director
COMPENSATION
₹80K
AGE
75
TENURE
13.8 yrs

Surinder Bansal

TITLE
Independent Non-Executive Director
COMPENSATION
₹50K
AGE
72
TENURE
13.8 yrs

Madan Chopra

TITLE
Independent Non-Executive Director
COMPENSATION
₹40K
AGE
85
TENURE
24.6 yrs

Jaspreet Takhar

TITLE
Independent Director
COMPENSATION
₹40K
AGE
59
TENURE
4.3 yrs

Sanjay Sahni

TITLE
Nominee Director
TENURE
0.6 yrs

Virander Arya

TITLE
Additional Non-Executive Independent Director
AGE
67
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Steel Strips Wheels individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
22. Jun 19 Buy Sanjay Garg Individual 20. Jun 19 20. Jun 19 9,252 ₹790.82 ₹7,316,652
20. Jun 19 Buy Ajay Jain Individual 19. Jun 19 19. Jun 19 150 ₹787.85 ₹118,177
18. Jun 19 Buy Sanjay Garg Individual 17. Jun 19 17. Jun 19 6,550 ₹794.46 ₹5,203,722
17. Jun 19 Buy Sanjay Garg Individual 14. Jun 19 14. Jun 19 13,000 ₹794.49 ₹10,328,399
14. Jun 19 Buy Sanjay Garg Individual 12. Jun 19 13. Jun 19 8,972 ₹795.13 ₹7,133,865
12. Jun 19 Buy Sanjay Garg Individual 11. Jun 19 11. Jun 19 1,205 ₹794.64 ₹957,538
11. Jun 19 Buy Sanjay Garg Individual 10. Jun 19 10. Jun 19 736 ₹796.81 ₹586,452
04. Jun 19 Buy Sanjay Garg Individual 03. Jun 19 03. Jun 19 5,136 ₹799.86 ₹4,108,071
03. Jun 19 Buy Sanjay Garg Individual 31. May 19 31. May 19 8,082 ₹803.19 ₹6,491,379
31. May 19 Buy Sanjay Garg Individual 30. May 19 30. May 19 2,000 ₹813.57 ₹1,627,135
29. Mar 19 Buy Mohan Joshi Individual 28. Mar 19 28. Mar 19 5,000 ₹862.05 ₹4,310,241
29. Mar 19 Buy Sanjay Garg Individual 28. Mar 19 28. Mar 19 12,894 ₹856.13 ₹11,038,876
28. Mar 19 Buy Mohan Joshi Individual 27. Mar 19 27. Mar 19 5,000 ₹857.19 ₹4,285,955
27. Mar 19 Buy Mohan Joshi Individual 25. Mar 19 26. Mar 19 10,000 ₹856.63 ₹8,566,274
27. Mar 19 Buy Sanjay Garg Individual 26. Mar 19 26. Mar 19 7,021 ₹861.31 ₹6,047,290
26. Mar 19 Buy Sanjay Garg Individual 25. Mar 19 25. Mar 19 14,981 ₹858.37 ₹12,859,183
23. Mar 19 Buy Sanjay Garg Individual 22. Mar 19 22. Mar 19 4,673 ₹862.40 ₹4,030,003
02. Mar 19 Buy Sanjay Garg Individual 01. Mar 19 01. Mar 19 2,500 ₹867.12 ₹2,167,796
27. Feb 19 Buy Sanjay Garg Individual 26. Feb 19 26. Feb 19 4,160 ₹869.50 ₹3,617,138
26. Feb 19 Buy Sanjay Garg Individual 25. Feb 19 25. Feb 19 3,102 ₹867.81 ₹2,691,934
21. Feb 19 Buy Sanjay Garg Individual 20. Feb 19 20. Feb 19 8,797 ₹854.74 ₹7,519,165
20. Feb 19 Buy Sanjay Garg Individual 19. Feb 19 19. Feb 19 14,513 ₹866.12 ₹12,570,045
19. Feb 19 Sell Ajay Jain Individual 18. Feb 19 18. Feb 19 -500 ₹842.77 ₹-421,387
19. Feb 19 Buy Sanjay Garg Individual 18. Feb 19 18. Feb 19 46,189 ₹860.25 ₹39,734,013
23. Jan 19 Buy Vinod Mittal Individual 17. Jan 19 21. Jan 19 5,025 ₹898.61 ₹4,506,814
23. Jan 19 Sell Ajay Jain Individual 21. Jan 19 22. Jan 19 -112 ₹883.98 ₹-99,005
15. Jan 19 Sell Ajay Jain Individual 10. Jan 19 14. Jan 19 -100 ₹906.08 ₹-90,397
06. Dec 18 Buy Sanjay Garg Individual 04. Dec 18 04. Dec 18 3,000 ₹973.49 ₹2,920,477
29. Sep 18 Buy Chandigarh Aircraft Management Services Pvt Ltd Company 27. Sep 18 28. Sep 18 15,630 ₹1,068.89 ₹16,625,855
12. Sep 18 Sell Naveen Sorot Individual 11. Sep 18 11. Sep 18 -150 ₹1,150.21 ₹-172,532
12. Sep 18 Sell Mohan Joshi Individual 11. Sep 18 11. Sep 18 -2,000 ₹1,146.79 ₹-2,278,388
X
Management checks
We assess Steel Strips Wheels's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Steel Strips Wheels has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SSWL News

Simply Wall St News

Is Steel Strips Wheels Limited's (NSE:SSWL) ROE Of 14% Impressive?

Our data shows Steel Strips Wheels has a return on equity of 14% for the last year. … One way to conceptualize this, is that for each ₹1 of shareholders' equity it has, the company made ₹0.14 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Understanding Your Return On Investment In Steel Strips Wheels Limited (NSE:SSWL)

and want a simplistic look at the return on Steel Strips Wheels Limited (NSE:SSWL) stock. … Thus, to understand how your money can grow by investing in Steel Strips Wheels, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE) … Steel Strips Wheels's Return On Capital Employed

Simply Wall St -

With An ROE Of 12.85%, Can Steel Strips Wheels Limited (NSE:SSWL) Catch Up To The Industry?

and want to begin learning the link between Steel Strips Wheels Limited (NSE:SSWL)’s return fundamentals and stock market performance. … Steel Strips Wheels Limited (NSE:SSWL) performed in line with its auto parts and equipment industry on the basis of its ROE – producing a return of 12.85% relative to the peer average of 13.99% over the past 12 months. … But what is more interesting is whether SSWL can sustain or improve on this level of return

Simply Wall St -

When Should You Buy Steel Strips Wheels Limited (NSE:SSWL)?

Steel Strips Wheels Limited (NSE:SSWL), a auto components company based in India,. … Let’s take a look at Steel Strips Wheels’s outlook and value based on the most recent financial data to see if the opportunity still exists? … Steel Strips Wheels appears to be overvalued by 61.73% at the moment, based on my discounted cash flow valuation

Simply Wall St -

SSWL Company Info

Description

Steel Strips Wheels Limited designs, manufactures, and sells automotive steel wheels in India and internationally. It offers wheels for two and three wheelers, passenger cars, multi utility vehicles, tractors, trucks, and off road vehicles, as well as provides alloy wheels for passenger cars, and MUV's and caravan vehicles. Steel Strips Wheels Limited was incorporated in 1985 and is headquartered in Chandigarh, India.

Details
Name: Steel Strips Wheels Limited
SSWL
Exchange: NSEI
Founded: 1985
₹12,281,581,416
15,589,720
Website: http://www.sswlindia.com
Address: Steel Strips Wheels Limited
SCO 49-50,
Sector 26,
Chandigarh,
Chandigarh, 160019,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 513262 Equity Shares Mumbai Stock Exchange IN INR 31. Dec 2001
NSEI SSWL Equity Shares National Stock Exchange of India IN INR 31. Dec 2001
Number of employees
Current staff
Staff numbers
2,511
Steel Strips Wheels employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 12:49
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/05/30
Last earnings filing: 2019/05/27
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.