Dashboard/WHEELS

WHEELS

OVERVALUED

Wheels India Limited

Others · NSE

↓ 59.9% vs fair value

52W Low

₹577

+63.6% from low

52W High

₹1,109

-14.9% from high

News sentiment (4 articles)

0 bull4 neutral0 bear

✦

Analyst Note

2d ago

Wheels India trades at ₹944, representing a 65.5% premium to its fair value of ₹590.24, signaling overvaluation with high confidence. The company demonstrates resilience with improving ROCE at 20.6% and solid free cash flow of ₹191 Cr, though earnings contracted 9.8% year-on-year despite modest 2.5% revenue growth. Sentiment remains neutral across both 7-day and 30-day periods, while the stock trades near its 52-week high. This profile suits value-conscious investors awaiting a meaningful price correction.

Valuation Gauge

OVERVALUED-59.9% Margin of Safety

OVERVALUEDFAIRLY VALUEDUNDERVALUED

Current Price

₹944

Fair Value

₹590

Fair Value Analysis

₹590

Based on free cash flow projections and balance sheet strength analysis and earnings growth potential for Others sector companies | ROCE improving (latest 21.2%) — capital allocation becoming more efficient. | COVID-resilient: company recovered from COVID trough.

High confidence

Cash Flow Analysis

33% weight

₹810

Balance Sheet Value

33% weight

₹576

Growth Valuation

33% weight

₹384

Price vs Market

WHEELS

Nifty 50

Shareholding Pattern

Stock Health Score

B+

Financially Healthy

7.6 / 10

Profitability

8/10

ROE of 9.8% is acceptable for Others sector (benchmark: 15%)

Debt & Leverage

10/10

D/E ratio of 0.8x is well within the Others sector norm of 0.8x — strong balance sheet

Valuation vs Peers

10/10

P/E of 25.4x trades at a 36% discount to Others sector median (40x) — attractively valued

Cash Flow

4/10

FCF margin of 4.3% — thin cash generation, watch capex trends

Earnings Growth

8/10

5yr EPS CAGR of 13.2% is in line with the Others sector average of 12.0%

Dividend

6/10

Dividend yield of 1.3% provides moderate shareholder returns

Sentiment Trend — Last 30 Days

Historical Returns

Key Ratios & Growth

FCF Yield

7.6%

Free cash flow / market cap

Revenue Growth (YoY)

+7.5%

Year-on-year revenue change

Profit Growth (YoY)

+45.2%

Year-on-year PAT change

Operating Cash Flow

₹400 Cr

TTM cash from operations

Key Financials

EPS (TTM)

₹38.4

P/E Ratio

25.4x

P/B Ratio

2.5x

ROE

9.8%

ROCE

20.7%

Debt / Equity

0.76x

Beta

—

Div Yield

1.3%

FCF (Cr)

₹191 Cr

Revenue (Cr)

₹4,404 Cr

EPS Growth 5Y

13.2%

Mkt Cap (Cr)

₹2,381 Cr

52W High

₹1,109

52W Low

₹577.1

Book Value/Share

₹384.2

Financial History

Period	Revenue	Op Profit	OPM%	PAT	EPS
TTM	₹5.2K Cr	₹390 Cr	8.0%	₹138 Cr	₹55.32
2025-03-31	₹4.7K Cr	₹352 Cr	7.0%	₹112 Cr	₹45.39
2024-03-31	₹5.0K Cr	₹266 Cr	5.0%	₹59 Cr	₹25.69
2023-03-31	₹4.6K Cr	₹221 Cr	5.0%	₹51 Cr	₹23.00
2022-03-31	₹4.0K Cr	₹255 Cr	6.0%	₹74 Cr	₹31.78
2021-03-31	₹2.4K Cr	₹143 Cr	6.0%	₹0 Cr	₹0.76
2020-03-31	₹2.7K Cr	₹172 Cr	6.0%	₹47 Cr	₹20.39
2019-03-31	₹3.4K Cr	₹245 Cr	7.0%	₹76 Cr	₹31.79
2018-03-31	₹2.6K Cr	₹199 Cr	8.0%	₹75 Cr	₹31.15
2017-03-31	₹2.2K Cr	₹186 Cr	9.0%	₹59 Cr	₹24.58
2016-03-31	₹2.0K Cr	₹172 Cr	9.0%	₹41 Cr	₹17.07

Compounded Growth Rates

Sales Growth

3Y+3.7%

5Y+16.5%

10Y+10.1%

Profit Growth

3Y+39.3%

5Y—

10Y+12.9%

EPS Growth

3Y+34.0%

5Y+135.7%

10Y+12.5%

Peer Comparison

Others

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STARPAPER Star Paper Mills Limited	₹132	₹657.4	+79.9%	5.1	44.2%	UNDERVALUED
MUFTI Credo Brands Marketing Limited	₹72.9	₹314.3	+76.8%	10.2	16.4%	UNDERVALUED
HEADSUP Heads UP Ventures Limited	₹7	₹28.8	+75.7%	3.7	—	UNDERVALUED
JINDRILL Jindal Drilling And Industries Limited	₹485.4	₹1,838.1	+73.6%	5.9	13.3%	UNDERVALUED
SHANTIGOLD Shanti Gold International Limited	₹174	₹628	+72.3%	9.5	23.6%	UNDERVALUED
SHANKARA Shankara Building Products Limited	₹120.9	₹417.1	+71.0%	3.8	15.9%	UNDERVALUED
KSOLVES Ksolves India Limited	₹289	₹944.6	+69.4%	22.2	114.6%	UNDERVALUED
SEDEMAC SEDEMAC Mechatronics Limited	₹1,672.5	₹5,216	+67.9%	142.9	20.2%	UNDERVALUED