Steel Strips Wheels Limited (SSWL) announced a standalone net profit of ₹119 crore for the September quarter, a 209% increase from ₹39 crore in the same period last year. The company’s revenue from operations rose 61% to ₹1,930 crore in the second quarter of the current financial year, up from ₹1,201 crore a year earlier. SSWL’s earnings before interest, taxes, depreciation and amortisation (EBITDA) more than doubled to ₹235 crore, with an EBITDA margin of 12.17% (280 basis points improvement).

Shares of SSWL advanced as much as 15% on Friday, October 23, its biggest single‑day gain since September 1. The stock hit a fresh 52‑week high of ₹449 on the National Stock Exchange, trading 14% higher at ₹445 by 12:28 pm, outperforming the NIFTY50 index which was down 1.2%. The board declared an interim dividend of ₹1.5 per share and approved the appointment of Pranav Jain as vice‑president (finance and accounts).

The board also approved the renewal of the lease agreement between SSWL and AMW Auto Component Limited (AACL), a wholly owned subsidiary, for up to five years commencing 26.11.2026, extendable from time to time as may be required, on the same terms and conditions previously approved. Premises on leasehold basis will be taken from AACL on the same terms and conditions as previously approved.

Additionally, the board sanctioned a greenfield manufacturing facility at Chhatrapati Sambhajinagar, Maharashtra, to manufacture alloy wheels, steel wheels for passenger vehicles and a hot‑stamping line. The estimated outlay of ₹1,400 crore will be spread over 60 months, supporting the company’s long‑term expansion strategy.

On the day of the announcement, SSWL’s stock outperformed the broader market, rising 14% against a 1.2% decline in the NIFTY50 index. The 52‑week high of ₹449 reflects investor confidence following the robust earnings, while the interim dividend of ₹1.5 per share and the planned greenfield facility signal continued growth ambitions. The company’s operational metrics, including a 12.17% EBITDA margin, underscore its improved profitability.