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25 Apr 2017
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Wheels
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ICICI Securities Limited
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740.80
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1343.15
(-44.85%)
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Mgmt Note
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We recently met the management of Wheels India (WIL) to understand its business model. WIL is a part of the TVS group (holding 40.8%) and is among the largest steel wheel rims manufacturers in the world. It has an aggregate capacity of >15 mn wheels & caters to CV (accounting ~28% of sales), PV (~21% of sales) & tractors (~15% of sales). Despite the increasing trend of cast aluminium wheels in PV space, the management believes that the margins & ROI generated on them are not attractive. However, the management believes that forged aluminium wheels have...
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18 Jan 2016
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Wheels
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HDFC Securities
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740.80
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978.35
(-24.28%)
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Buy
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Buy Steel Strips Wheels India Ltd CMP at Rs.345 and add on dips to Rs.300 - Rs.315 for the target of Rs.402 - Rs.430
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16 Sep 2015
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Wheels
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Way2Wealth
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740.80
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1170.00
(-36.68%)
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40% Market share in India: Wheels India (WIL) is a leading manufacturer of steel wheels in India with ~40% market share in the domestic 4W industry. Currently TVS group holds 40% stake in company followed by Titan Europe...
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