Enkei Wheels (India) Ltd.
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ABOUT
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Latest quarter profit grew 699.2% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.11x)
- Working capital cycle has improved - days down from 29 to 19
- Company converts assets efficiently - asset turnover of 1.6x
CONS
- Equity base is being diluted - shares outstanding up 14.8%
- Free cash flow has been persistently negative
- Recurring exceptional / one-off items are inflating headline profit
- Operating margins have contracted to 5.5% from 9.2%
- Inventory has been piling up - inventory days up from 14 to 29
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSON | 163.80 | 39.47 | 172881.77 | 0.37 | 1075.66 | 77.48 | 35243.77 | 17.70 | 13.63 | 8.86 |
| BOSCHLTD | 48900.00 | 61.03 | 144235.93 | 0.55 | 706.10 | -36.74 | 5841.90 | 22.00 | 25.60 | 14.08 |
| UNOMINDA | 1230.45 | 59.10 | 71054.45 | 0.22 | 315.51 | 2.10 | 5556.85 | 23.79 | 20.74 | 11.14 |
| TIINDIA | 2685.25 | 85.70 | 51979.01 | 0.13 | 293.96 | -3.04 | 6215.33 | 20.20 | 27.33 | 8.81 |
| SONACOMS | 800.45 | 71.79 | 49958.36 | 0.42 | 178.51 | 46.67 | 1301.20 | 52.38 | 14.75 | 22.55 |
| ENDURANCE | 2754.35 | 39.95 | 38743.47 | 0.42 | 244.52 | 8.03 | 4314.89 | 30.01 | 18.33 | 12.42 |
| CRAFTSMAN | 11855.90 | 66.69 | 31008.43 | 0.09 | 150.55 | 116.31 | 2431.58 | 36.30 | 14.65 | 15.81 |
| ZFCVINDIA | 2471.00 | 56.33 | 28121.34 | 0.03 | 1044.78 | 753.75 | 10661.76 | 992.89 | 20.23 | 12.93 |
| SANSERA | 4133.05 | 74.02 | 25791.71 | 0.10 | 87.36 | 38.71 | 1021.26 | 33.27 | 14.29 | 19.18 |
| MSUMI | 36.71 | 38.80 | 24344.83 | 1.58 | 1453.20 | 915.51 | 34072.60 | 1266.17 | 43.72 | 7.58 |
| GABRIEL | 1361.00 | 81.04 | 24121.01 | 0.37 | 1081.26 | 925.35 | 14256.83 | 1055.00 | 26.37 | 11.71 |
| ENKEIWHEL | 399.95 | 33.00 | 718.91 | 0.00 | 10.25 | 699.24 | 319.03 | 36.83 | 9.88 | 10.73 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 177 | 207 | 200 | 222 | 189 | 239 | 195 | 228 | 233 | 265 | 245 | 299 | 319 | |
| 163 | 182 | 179 | 199 | 181 | 229 | 187 | 217 | 216 | 235 | 221 | 280 | 305 | |
| Operating Profit | 14 | 24 | 21 | 23 | 8 | 10 | 8 | 11 | 17 | 30 | 25 | 19 | 14 |
| OPM % | 7.78% | 11.75% | 10.48% | 10.27% | 4.32% | 4.14% | 4.02% | 4.90% | 7.23% | 11.31% | 10.01% | 6.28% | 4.28% |
| 9 | -0 | -5 | 7 | 6 | 1 | 5 | 0 | 2 | 0 | 0 | 0 | 0 | |
| Interest | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 5 | 6 | 5 | 5 | 5 | 6 |
| Depreciation | 8 | 12 | 12 | 12 | 13 | 13 | 13 | 13 | 15 | 15 | 15 | 15 | 15 |
| Profit before Tax | 12 | 9 | 1 | 14 | -2 | -6 | -4 | -7 | -2 | 10 | 5 | -1 | 14 |
| Tax % | 34.79% | 36.36% | -127.96% | 37.31% | 159.55% | 24.38% | 19.78% | 26.49% | -0.00% | 23.58% | 19.96% | 6.15% | 26.04% |
| Net Profit | 8 | 6 | 2 | 9 | 1 | -5 | -3 | -5 | -2 | 8 | 4 | -1 | 10 |
| 4.47 | 3.31 | 1.17 | 4.93 | 0.73 | -2.54 | -1.65 | -2.95 | -0.95 | 4.42 | 2.34 | -0.34 | 5.70 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 239 | 279 | 287 | 320 | 384 | 385 | 407 | 465 | 474 | 1,129 | |
| 220 | 265 | 269 | 305 | 346 | 346 | 373 | 423 | 450 | 1,042 | |
| Operating Profit | 19 | 14 | 18 | 16 | 38 | 40 | 33 | 42 | 25 | 87 |
| OPM % | 7.95% | 5.03% | 6.38% | 4.84% | 9.90% | 10.29% | 8.23% | 8.97% | 5.23% | 7.71% |
| 3 | 0 | 10 | 12 | 0 | -12 | 0 | 6 | 15 | 1 | |
| Interest | 8 | 5 | 6 | 9 | 8 | 5 | 5 | 5 | 5 | 21 |
| Depreciation | 14 | 15 | 16 | 18 | 28 | 26 | 22 | 23 | 21 | 59 |
| Profit before Tax | 0 | -5 | 6 | 1 | 2 | -3 | 7 | 19 | 14 | 29 |
| Tax % | 0.55% | -1.78% | 23.67% | 20.01% | -20.51% | -91.30% | 63.91% | 44.23% | 6.87% | 24.49% |
| Net Profit | 0 | -5 | 4 | 1 | 2 | -5 | 3 | 11 | 13 | 22 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 8%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 89%
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 1%
- 3 Years:
- 14%
- Last Year:
- 12%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 8 | 8 | |
| -5 | -6 | -2 | 6 | 6 | 12 | -5 | 36 | 73 | 121 | |
| 88 | 209 | 235 | 245 | 234 | 186 | 171 | 140 | 120 | 125 | |
| Trade Payables | 3 | 30 | 56 | 64 | 50 | 66 | 58 | 37 | 39 | 40 |
| 112 | 19 | 16 | 32 | 21 | 13 | 8 | 14 | 33 | 32 | |
| Total Liabilities | 203 | 258 | 311 | 353 | 318 | 283 | 239 | 234 | 272 | 326 |
| 132 | 156 | 162 | 158 | 181 | 164 | 131 | 129 | 127 | 126 | |
| Capital Work in Progress | 3 | 4 | 8 | 25 | 0 | 0 | 0 | 0 | 2 | 55 |
| 10 | 15 | 18 | 22 | 10 | 18 | 19 | 14 | 23 | 52 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Cash & Bank | 22 | 29 | 61 | 49 | 27 | 8 | 8 | 7 | 10 | 20 |
| 36 | 54 | 63 | 99 | 100 | 93 | 81 | 84 | 111 | 73 | |
| Total Assets | 203 | 258 | 311 | 353 | 318 | 283 | 239 | 234 | 272 | 326 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|
| 32 | 43 | 27 | 20 | 26 | 13 | 24 | 37 | 45 | |
| Cash from Investing | -41 | -27 | -31 | -14 | -11 | -6 | -20 | -44 | -71 |
| Cash from Financing | 15 | 16 | -7 | -25 | -34 | -8 | 3 | 20 | 42 |
| 7 | 32 | -12 | -22 | -18 | -1 | -0 | 2 | 11 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
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News
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