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Steel Strips Wheels has placed its aluminium wheel and aluminium knuckle project at the centre of its next growth phase, with construction and commissioning activities progressing at its Bhuj facility in Gujarat, India. The company is investing around INR 5 billion (USD 52.4 million) in the project, which will add an annual capacity of 1.2 million aluminium wheels and 1.1 million knuckles.
{alcircleadd}The expansion plan is part of a broader strategy to solidify the company's position in the platform of higher-value automotive components while reinforcing demand growth from both conventional and electric vehicle (EV) manufacturers. The new facilities are expected to achieve utilisation levels of 70 per cent or more around FY28.
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Upon achieving full utilisation, the facility is projected to generate annual revenue of INR 7 (USD 73.4 million) to INR 8 billion (USD 83.86 million). Trial production is expected to begin in October 2026 and continue through January 2027.
Along with the aluminium investment, Steel Strips Wheels reported a strong FY26 performance and outlined an optimistic outlook for FY27. The company is targeting EBITDA of around INR 6.5 billion (USD 68.14 million), backed by export recovery, improvement in capacity utilisation, as well as steady growth recorded in the EV segment.
The company’s export revenue is expected to rebound to around INR 6 billion (USD 62.9 million) in FY27, while EV-related business, particularly in scooters and three-wheelers, is projected to expand by 25-40 per cent.
Eyeing future growth potential, Steel Strips Wheels is also pursuing brownfield capacity additions and operational upgrades across its manufacturing network.
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