Steel Strips Wheels Limited (SSWL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-11.0%

₹448.59

vs ₹504.25 price

Levered DCF

₹230.80

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.73

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	15.53×	15.09×	5.44×	11.94×	12.31×	22.09×	23.63×	16.47×
P/B	1.64×	1.82×	2.55×	2.04×	2.66×	1.45×	0.79×	1.99×
P/S	0.57×	0.67×	0.84×	0.57×	0.71×	0.63×	0.35×	0.67×
EV / EBITDA	7.36×	7.8×	4.94×	6.45×	7.05×	8.81×	8.06×	8.93×
Gross margin	34.4%	35.8%	34.9%	30.9%	38.3%	26.6%	28.1%	27.6%
Operating margin	7.2%	26.9%	26.0%	9.4%	10.1%	7.6%	6.6%	9.3%
Net margin	3.7%	4.4%	15.5%	4.8%	5.8%	2.8%	1.5%	4.0%
Current ratio	1.01×	0.93×	0.91×	0.97×	1×	0.96×	0.97×	0.93×
Debt / equity	0.46×	0.51×	0.73×	0.56×	0.82×	1.25×	1.43×	1.45×
Interest coverage	3.04×	10.16×	11.43×	4.57×	4.22×	1.57×	1.16×	2.04×
Dividend yield	0.7%	0.5%	0.4%	0.5%	0.1%	0.0%	1.4%	0.6%
Payout ratio	10.3%	8.0%	2.3%	6.1%	1.5%	0.0%	32.1%	9.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.5%	12.0%	46.8%	17.1%	21.6%	6.6%	3.4%	12.1%
Return on invested capital	10.2%	34.8%	39.2%	12.4%	12.2%	5.2%	3.8%	7.6%
Return on assets	5.0%	5.7%	20.5%	7.0%	7.6%	2.1%	1.1%	3.8%
Free cash flow yield	4.7%	10.3%	-5.2%	9.1%	9.4%	10.4%	4.3%	7.4%
Earnings yield	6.4%	6.6%	18.4%	8.4%	8.1%	4.5%	4.2%	6.1%
Enterprise value	₹37.8B	₹37.8B	₹46.8B	₹29.3B	₹32.8B	₹20B	₹15.2B	₹23.1B
Net debt / EBITDA	1.6×	1.69×	1.06×	1.36×	1.62×	4.01×	5.14×	3.68×
Cash conversion cycle (days)	38	39	52	37	39	78	88	56