Steel Strips Wheels Board Approves Rs 1,400 Crore Greenfield Plant in Chhatrapati Sambhajinagar

Steel Strips Wheels' board has approved a greenfield manufacturing plant in Chhatrapati Sambhajinagar, Maharashtra, with an estimated expenditure of Rs 1,400 crore. Autocar Professional reported that the capital expenditure will be deployed over 60 months. Steel Strips Wheels makes steel and alloy wheels for vehicles.

Steel Strips Wheels' Rs 1,400 Crore Chhatrapati Sambhajinagar Plan

The company said the project will be funded through a mix of debt and internal accruals. The facility will add initial production capacities of 1.3 million alloy wheels per annum, 2.5 million steel wheels per annum for passenger vehicles and off-the-road equipment, and 1.6 million strokes per annum for a hot stamping line catering to passenger vehicle structural body parts.

The company said the site establishes a manufacturing base within Maharashtra's expanding secondary automotive belt. That belt houses major OEMs such as Skoda Auto Volkswagen India, Audi India and Bajaj Auto, with JSW recently setting up a Rs 2,500 crore plant for electric commercial vehicles.

Record Sales Months Before the Board Approval

Steel Strips Wheels recorded September 2026 net turnover of ₹625.81 crore, up 52.41% year-on-year and its highest-ever monthly sales, ScanX reported. Export value grew 154% year-on-year, while domestic momentum came from OEM orders and festive demand.

In August 2026, Steel Strips Wheels reported its highest monthly net turnover of Rs 592.92 crore, up 53.62% year-on-year from Rs 385.98 crore in August 2025, Business Standard reported. The truck segment grew 53% year-on-year, aluminium products 73%, and exports 63%.

Steel Strips Wheels held its 40th AGM on September 30, 2026, at its Mohali office, where members adopted FY26 financials and approved special resolutions to enhance borrowing limits and create security on assets, ScanX reported.

What Follows the Board Approval

The company said the Rs 1,400 crore capital expenditure will be deployed over a period of 60 months. The company's own announcement is available on its website.