Steel Strips Wheels plans ₹410 crore hot stamping line, declares ₹1.50 interim dividend

The board decisions in numbers

Interim dividend and results

The Board approved the standalone and consolidated results for the quarter and half year ended 30 Sep 2026 and declared an interim dividend of ₹1.50 per equity share. The statutory auditors issued limited review reports on both sets of results with no modification of conclusion. The consolidated results include the associate Clean Max Astria Private Limited, whose share of net profit after tax was ₹15.03 lakh for the quarter and ₹34.97 lakh for the year to date; its results have not been reviewed by its auditor.

The filing says the figures for the corresponding previous periods have been restated or regrouped where necessary to make them comparable. Latest quarter reported by the company, Q1 FY27 consolidated, showed total income of ₹1,510.66 crore and net profit of ₹69.45 crore.

A hot stamping line at a proposed greenfield site

The Board gave in-principle approval to set up a Hot Stamping line at a proposed greenfield manufacturing facility, for structural body parts of passenger vehicles, sold in the domestic market. The company says the rationale is business growth and meeting rising customer demands. The initial estimated capacity is 1.3 million strokes per annum for hot stamping, within a combined initial estimate of 2.5 million units per annum for alloy and steel wheels and hot stamping.

The company has no existing manufacturing facility at Chhatrapati Sambhajinagar, Maharashtra, where the capacity is to be added. Approval is subject to the necessary approvals and clearances, and the capex is to be financed through debt and internal accruals.

Senior management appointment and lease renewal

Pranav Jain, a qualified Chartered Accountant who has been with the company for almost 14 years, was appointed Vice President (Finance and Accounts) on full-time employment, effective 23 Oct 2026. He looks after Finance, Accounts and Commercial functions across corporate and plant operations.

The Board also approved renewal of a lease from the wholly owned subsidiary AMW Autocomponent Limited for an administrative building at Bhuj-Bhachau Road, Kachchh, Gujarat, for up to 5 years from 26 Nov 2026, on the same terms as before and on an arm's length basis. The monthly rent is ₹45.00 lakh.

What the board decisions mean for Steel Strips Wheels' shareholders

The interim dividend of ₹1.50 per share is the cash return the filing sets out, with a record date of 21 Nov 2026. The filing does not say when it will be paid or the total payout amount.

The hot stamping line is an in-principle approval only. The filing does not say what the customers or volumes will be, the split between debt and internal accruals, or whether a final investment decision has been taken. The next dated step is the 21 Nov 2026 record date.

Reference: Original filing (PDF)