| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 1,711 | 1,264 | +35.4% |
| EBITDA | 128 | 92.6 | +38.5% |
| EBITDA margin | 7.5% | 7.3% | +0.2 pts |
| Profit before tax | 75.6 | 40.1 | +88.5% |
| Net profit | 60.2 | 31.8 | +89.3% |
| EPS | ₹24.21 | ₹12.68 | +90.9% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 5,367 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 28.0 | 3.6 | 4.2 | 4.8 | 4.0 | ||
| 14.9 | 13.5 | 10.4 | 9.2 | 13.0 | ||
| 690 | 690 | 725 | 770 | 785 | ||
| 6,043 | — | — | — | — | ||
| 6,137 | 5,465 | 4,744 | 4,977 | 4,651 | ||
| — | +15.2% | −4.7% | +7.0% | — | ||
| 467 | 413 | 352 | 266 | 218 | ||
| 7.6% | 7.6% | 7.4% | 5.3% | 4.7% | ||
| 339 | 298 | 259 | 181 | 146 | ||
| 195 | 158 | 112 | 58.9 | 54.2 | ||
| 3.2% | 2.9% | 2.4% | 1.2% | 1.2% | ||
| ₹79.74 | ₹64.70 | ₹45.92 | ₹25.69 | ₹23.77 | ||
| — | +40.9% | +78.7% | +8.1% | — | ||
| — | 477 | 400 | 329 | 373 | ||
| — | −277 | −209 | −150 | −151 | ||
| 201 | 201 | 191 | 179 | 221 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 5,366.8 | |
| - Cash, Equiv & ST Investments | 4.0 | 4.8 | 4.2 | 3.6 | 28.0 | |
| + Minority Interest | 13.0 | 9.2 | 10.4 | 13.5 | 14.9 | |
| + Total Debt | 785.3 | 770.0 | 724.7 | 689.7 | 689.7 | |
| Enterprise Value | — | — | — | — | 6,043.3 | |
| Revenue | 4,651.2 | 4,977.3 | 4,744.4 | 5,464.9 | 6,137.4 | |
| Growth %, YoY | — | +7.0 | -4.7 | +15.2 | — | |
| EBITDA | 218.5 | 265.9 | 352.5 | 412.8 | 466.6 | |
| Margin % | 4.70 | 5.34 | 7.43 | 7.55 | 7.60 | |
| EBIT | 146.3 | 181.0 | 259.3 | 297.5 | 338.5 | |
| Net Income | 54.2 | 58.9 | 112.2 | 158.1 | 194.8 | |
| Margin % | 1.16 | 1.18 | 2.36 | 2.89 | 3.17 | |
| EPS, Adj (current shares) | 23.77 | 25.69 | 45.92 | 64.70 | 79.74 | |
| Growth %, YoY | — | +8.1 | +78.7 | +40.9 | — | |
| Cash from Operations | 372.7 | 329.4 | 400.5 | 477.4 | — | |
| Capital Expenditures | -151.3 | -150.3 | -209.3 | -276.8 | — | |
| Free Cash Flow | 221.4 | 179.1 | 191.2 | 200.6 | 200.6 | |
Prices at the previous close · figures from the company's filings with NSE
Wheels India (NSE: WHEELS) had a market capitalisation of ₹5,901 crore at the previous close (₹2,196.80 a share), a PE ratio of 30.3 on the last four quarters' profit and a price-to-book ratio of 3.91. In FY26 its consolidated net profit was ₹158 crore on revenue of ₹5,465 crore; in Q2 FY27 (July–September 2026) it was ₹60.2 crore, up 94.1% year on year. Its debt-to-equity ratio was 0.45 on 30 September 2026. Promoters held 56.86% of the shares on 30 September 2026.
Wheels India's PE ratio is 30.3 at the previous close (₹2,196.80 a share): a market capitalisation of ₹5,901 crore divided by consolidated net profit of ₹195 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit (₹158 crore) it is 37.3.
Wheels India's net worth — shareholders' equity in its consolidated balance sheet — was ₹1,510 crore on 30 September 2026, up 56.8% from ₹963 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹5,901 crore at the previous close.
Wheels India's book value per share was ₹562.32 on 30 September 2026: shareholders' equity of ₹1,510 crore divided by the 2.69 crore shares in issue, up 42.6% from ₹394.35 a year earlier. The share price at the previous close was ₹2,196.80.
Wheels India's price-to-book (PB) ratio is 3.91 at the previous close: a market capitalisation of ₹5,901 crore divided by shareholders' equity (book value) of ₹1,510 crore on 30 September 2026. That is a book value of ₹562.32 per share against a share price of ₹2,196.80.
In FY26, Wheels India's return on equity (ROE) was 16.1% and its return on capital employed (ROCE) was 21.5%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 12.7% and ROCE 20.6%.
Wheels India's dividend yield is 0.66% at the previous close: dividends of ₹14.44 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹2,196.80. They were ₹9.14 on 24 June 2026 and ₹5.30 on 5 February 2026 (interim).
Wheels India's market capitalisation was ₹5,901 crore at the previous close: 2.69 crore shares at ₹2,196.80 each.
No. Wheels India had borrowings of ₹693 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.45. Its cash and current investments were ₹28.6 crore, so its net debt was ₹664 crore.
Wheels India's basic earnings per share (EPS) were ₹63.44 in FY26, against ₹45.39 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹78.43.
Wheels India's debt-to-equity ratio was 0.45 on 30 September 2026: borrowings of ₹693 crore against total equity of ₹1,525 crore. A year earlier, on 30 September 2025, it was 0.75.
In 2026, Wheels India has declared two dividends totalling ₹14.44 a share: ₹5.30 (interim) with record date 5 February 2026 and ₹9.14 with record date 24 June 2026.
Promoters held 56.86% of Wheels India on 30 September 2026, down 1.45 percentage points from 58.31% the previous quarter and down 1.45 percentage points from 58.31% a year earlier, according to the shareholding pattern filed with NSE.
On 30 September 2026, Wheels India's shares were held by promoters 56.86%, foreign portfolio investors (FII/FPI) 2.57%, domestic institutions (DII) 7.23% (including mutual funds at 4.41%) and retail and other non-institutional investors 33.34%. Over the year, FII holding was up 1.49 percentage points from 1.08% and DII holding was down 3.45 percentage points from 10.68%.
Wheels India's latest results are for Q2 FY27 (July–September 2026), filed on 29 October 2026: consolidated net profit ₹60.2 crore, up 94.1% from ₹31 crore in Q2 FY26; revenue from operations ₹1,711 crore, up 35.4% year on year.
In FY26, Wheels India earned net profit of ₹158 crore on revenue of ₹5,465 crore, against ₹46.9 crore on ₹353 crore for Divgi Torqtransfer Systems. Wheels India's operating margin was 5.4% (Divgi Torqtransfer Systems 11.6%) and its return on equity 16.1% (Divgi Torqtransfer Systems 7.6%).
In FY26, Wheels India generated ₹477 crore of cash from operations and spent ₹277 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹201 crore. In FY25 it was ₹191 crore.
In FY26 (April 2025–March 2026), Wheels India's consolidated net profit was ₹158 crore, up 40.9% from ₹112 crore in FY25, on revenue from operations of ₹5,465 crore (up 15.2%). Over three years, from FY23, net profit was up 172.2%.
Wheels India has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On FY26 consolidated figures, against Divgi Torqtransfer Systems, Sandhar Technologies and Uniparts India: Wheels India's operating margin of 5.4% is the third highest of the four (Divgi Torqtransfer Systems 11.6%, Sandhar Technologies 5.0%, Uniparts India 17.3%; peer average 11.3%); its return on equity of 16.1% is the second highest of the four (Divgi Torqtransfer Systems 7.6%, Sandhar Technologies 16.1%, Uniparts India 18.0%; peer average 13.9%); its revenue growth over three years of 5.5% a year is the third highest of the four (Divgi Torqtransfer Systems 9.2% a year, Sandhar Technologies 18.6% a year, Uniparts India −5.0% a year; peer average 7.6% a year).
From Wheels India's own consolidated results, balance sheets and shareholding patterns filed with NSE. Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.