Front Wave Research

Results

Steel Strips Wheels — Q1 FY26: margin story on schedule

08 Aug 2025·SSWL·Buy·Auto Ancillary

Since we called it

₹374 at close

Called ₹216 · 08 Aug 2025SSWL: called at ₹216 on 08 Aug 2025, ₹374 at last close on 10 Sept 2026.

The print

An auto ancillary with high-growth triggers — the alloy-wheel mix shift, an EV platform pipeline, and export ramp. Q1 supports the thesis with visible margin expansion.

Where we stand

Buy. The mix story is executing; exports are the next leg to watch.

Front Wave Research LLP · SEBI Registered Research Analyst · INH000018407. This note is research, not investment advice. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.