Multibagger small cap stock: Shares of Steel Strips Wheels (SSWL), a leading player in the automotive wheel manufacturing sector, surged 6% in intraday trade on Tuesday, April 1, to reach ₹188.36 apiece after investors cheered the company’s March business update, which showed healthy improvement compared to the same period last year.
Today’s rise also ended the stock’s four-day losing streak. The company, which designs, manufactures, and supplies steel wheel rims and alloy wheels for a wide range of domestic and global automobile manufacturers, reported a net turnover of ₹433.70 crore in March 2025—its highest-ever monthly sales—marking a 27.29% increase from ₹340.72 crore in the same period last year.
The company also reported a gross turnover of ₹529.15 crore last month, up from ₹415.05 crore in March 2024, marking a year-on-year (YoY) growth of 27.49%. The Alloy segment (including exports) recorded a 50% volume growth in March, while the Truck and Tractor segments registered YoY growth of 32% and 23%, respectively, as per company’s today’s exchange filing.
The company supplies major passenger vehicle (PV) and commercial vehicle (CV) original equipment manufacturers (OEMs) such as Maruti Suzuki, M&M, MG, Hyundai, Honda, Kia, JLR, Ashok Leyland, Tata Motors, and Escorts.
Meanwhile, the company previously clarified that the U.S. administration’s imposition of a 25% tariff on automobile imports would not impact its product—wheel rims.
“We would like to bring to your attention that the said proclamation imposes a 25% tariff on imported passenger vehicles (sedans, SUVs, crossovers, minivans, and cargo vans) and light trucks, as well as key automobile parts (engines, transmissions, powertrain parts, and electrical components), with provisions to expand tariffs on additional parts if necessary. Our products, steel and alloy wheel rims, are not covered under this proclamation and will not be impacted by the 25% tariff,” the company stated in its exchange filing dated March 27.
Tata Steel held a 6.9% stake in the company at the end of the December quarter. On the expansion front, the company aims to increase its alloy wheel production capacity from 12 lakh wheels to 48 lakh wheels in a phased manner at its Mehsana plant in Gujarat by FY26.
Stock still up 425% in five years despite 37% drop from peak
Despite a sustained decline in recent months, with the stock losing 37% of its value from its recent high, it continues to trade with stellar gains. Over the last five years, the stock has surged 425%, and from its March 2020 low of ₹12 apiece, it has skyrocketed by 1,450% to date.
Between April 2020 and August 2021, the stock experienced a sharp, one-way rally, rising from ₹35.45 to ₹190—delivering a massive gain of 450%.
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