Steel Strips - +ve Biz. Traction, Mix + Op. Leverage to Aid in Margin Exp. With Benefits of Deleveg

Steel Strips - In-Line, Robust Dom+ Exp Sales, Int Exp Key Monitorable - Re-Iterate "Buy" Inv Thesis

Independent Research Analyst

Mamta Verma

DC India Research

DC India Research LLP (DCIR) is based out of Mumbai, India.

We specialize in providing customized, independent research across listed and unlisted companies in India across equities and credit including sectoral research. Our customers include India focussed PE funds, special situation funds, domestic AMCs, Wealth Advisory& PMS firms, Rating Agencies & Investment Advisors. 

The DCIR board consists of prominent names from the industry as well as CIO’s of Hedge funds.

Equity Bottom-Up

<p>In this note we have reviewed the q3-FY18 and 9m-FY18 performance of the listed Indian companies in the WHEELS SECTOR.</p><p>Companies covered include -  <a href="https://www.smartkarma.com/entities/7446" target="_blank" data-smartkarma-citation="entities:7446:1">Wheels India Ltd (WHL IN)</a>, <a href="https://www.smartkarma.com/entities/18111" target="_blank" data-smartkarma-citation="entities:18111:1">Enkei Wheels India Ltd (EWIL IN)</a>, <a href="https://www.smartkarma.com/entities/14540" target="_blank" data-smartkarma-citation="entities:14540:1">Steel Strips Wheels Ltd (SSW IN)</a></p><p>We will be following up on this note post q4-fy18 earnings for all these companies.</p><p><strong>1. Summary</strong></p><table class="table table-striped"><tbody>
<tr>
<td>Net Sales</td>
<td>Q3-FY18 YoY</td>
<td>Q3-FY18 QoQ</td>
<td>9M-FY18 YoY</td>
<td>9M-FY18 (Rs. Mn.)</td>
</tr>
<tr>
<td>Enkei Wheels (India) Ltd.</td>
<td>14.35%</td>
<td>-5.42%</td>
<td>13.63%</td>
<td>                      3,390</td>
</tr>
<tr>
<td>Steel Strips Wheels Ltd.</td>
<td>19.43%</td>
<td>5.16%</td>
<td>14.</td>
</tr>
</tbody></table>…

In this note we have reviewed the q3-FY18 and 9m-FY18 performance of the listed Indian companies in the WHEELS SECTOR.Companies covered include -  Wheels India Ltd (WHL IN), Enkei Wheels India Ltd (EWIL IN), Steel Strips Wheels Ltd (SSW IN)We will be following up on this note post q4-fy18 earnings for all these companies.1. Summary

Net Sales
Q3-FY18 YoY
Q3-FY18 QoQ
9M-FY18 YoY
9M-FY18 (Rs. Mn.)


Enkei Wheels (India) Ltd.
14.35%
-5.42%
13.63%
                      3,390


Steel Strips Wheels Ltd.
19.43%
5.16%
14.

…

Steel Strips Wheels

India Sector Capsule: Wheels