About Steel Strips Wheels Limited

Steel Strips Wheels Limited (SSWL) is an Indian auto-component manufacturer incorporated on February 28, 1985. The company produces steel wheel rims, alloy wheel rims, and aluminium steering knuckles—collectively constituting 100% of its turnover, as reported in the annual business activity and product disclosures. SSWL operates primarily within India, serving both domestic and export markets, and aligns its business reporting by geography into domestic and exports. The company runs five manufacturing plants and maintains 24 offices (including 20 warehouses) across India. Manufacturing facilities are located at Village Somalheri/Lehli, SAS Nagar (Mohali), Punjab; Oragadam, Kancheepuram, Tamil Nadu; Jojobera, East Singhbhum, Jharkhand; Martoli/Tejpura, Mehsana, Gujarat; and Muria, Seraikela-Kharsawan, Jharkhand.

As of March 31, 2025, SSWL had one subsidiary, and its consolidated financial statements include the parent company, this subsidiary, and one associate. A key milestone in the company’s diversification was achieved with the commercial launch of aluminium steering knuckles on November 5, 2024, at its Mehsana, Gujarat facility. Earlier, in FY 2023–24, the National Company Law Tribunal, Ahmedabad, approved SSWL’s resolution plan to acquire AMW Autocomponent Limited on October 12, 2023, under the Insolvency and Bankruptcy Code, 2016—expanding the company’s manufacturing footprint and product base.

Key Milestones of Steel Strips Wheels Limited

• Successful acquisition of AMW Autocomponent Limited under a resolution plan approved by NCLT Ahmedabad on October 12, 2023.
• Commercial commencement of aluminium steering knuckles production at Mehsana, Gujarat, on November 5, 2024.
• Board approval on August 1, 2025, to form a Wholly Owned Subsidiary in the European Union to enhance service and expand in global markets.
• Implementation of ESOS 2021 and subsequent equity allotments to employee shareholders, reinforcing talent retention strategy.
• Ongoing investments in manufacturing capacity and sustainable energy initiatives via equity participation in Clean Max Astria Private Limited.

Steel Strips Wheels Limited Business Segment

SSWL’s operations comprise the design, manufacture, and supply of steel and alloy wheel rims and aluminium steering knuckles to original equipment manufacturers (OEMs) and the replacement market. The company reports a single operating segment covering all product lines, with no separate vertical or geographical revenue breakdown disclosed in the annual report. Geographically, operations are divided for reporting purposes into domestic and export categories.

Plant Network:

• Village Somalheri/Lehli, SAS Nagar (Mohali), Punjab
• Oragadam, Kancheepuram, Tamil Nadu
• Jojobera, East Singhbhum, Jharkhand
• Martoli/Tejpura, Mehsana, Gujarat
• Muria, Seraikela-Kharsawan, Jharkhand

SSWL also manages 24 offices across India, including 20 warehouses strategically positioned for distribution efficiency and customer proximity.

SSWL operates as a single integrated segment encompassing the manufacturing of steel wheel rims, alloy wheel rims, and aluminium steering knuckles. The company’s presence across multiple vehicle categories and customer segments provides diversification within the automobile components space. It serves both domestic and export customers, and its expansion into aluminium component manufacturing marks a major advancement in technology and product innovation. 

Steel Strips Wheels Limited Key Management

• Rajinder Kumar Garg – Chairman (Non-Executive)
• Dheeraj Garg – Managing Director
• Mohan Joshi – Deputy Managing Director
• Manohar Lal Jain – Executive Director
• Naveen Sorot – Chief Financial Officer
• Ms. Kanika Sapra – Company Secretary & Compliance Officer

Latest Updates on Steel Strips Wheels Limited

• Product diversification: The company began commercial production of aluminium steering knuckles at Mehsana, Gujarat, on November 5, 2024, extending its portfolio beyond wheel rims.
• Global expansion: On August 1, 2025, the Board approved the formation of a Wholly Owned Subsidiary in the European Union to improve service to European customers and to strengthen international business development.
• Energy partnership: During FY 2024–25, the company invested Rs. 693.10 Lakh in Clean Max Astria Private Limited through a rights issue, increasing its holding to 26% (57,151 equity shares of face value Rs. 10 each).
• Employee ownership: Under the “ESOS 2021” scheme, SSWL granted 5,00,000 stock options on March 13, 2025, and subsequently allotted 2,51,100 equity shares at an exercise price of Rs. 20 per share on June 23, 2025, to employees who exercised their options.
• Capacity build-out: On a standalone basis, capital expenditure during the year amounted to Rs. 21,225.88 Lakh, including investment in a new line for manufacturing knuckles at Mehsana, Gujarat.