1. Financial Performance Summary

During the month under review, the Company achieved a strong top-line trajectory driven by domestic demand dynamics:

• Net Turnover: Reached Rs. 485.98 Crores in May 2026 as against Rs. 410.35 Crores in May 2025, registering a growth of 18.43% YOY.
• Gross Turnover: Reached Rs. 560.03 Crores in May 2026 as against Rs. 500.76 Crores in May 2025, registering a growth of 11.84% YOY.

2. Segment-Wise Value and Volume Analysis
The product segment-wise revenue and volume changes for May 2026 compared to May 2025 are summarized below:

3. Sectoral Trends & Operational Performance
The operational performance of the Company during May 2026 highlights notable trends across the broader automotive sector:

• Rural and Agricultural Inherent Strengths: The Tractor segment expanded by 21% in value and 17% in volume, reflecting an active pickup in agribusiness procurement and positive indicators of rural cash flows.
• Value Acceleration via Premiumization: A key operational observation is the positive variance between Value Growth (+18%) and Volume Growth (+4%). This demonstrates a systematic transition toward high-realization, high-margin products. Specifically, our Aluminum wheels vertical posted a high 30% revenue expansion, pointing to a higher share of wallet with key OEMs.
• EV Shift Accelerating 2 & 3 Wheeler Growth: The 2 & 3 Wheelers segment emerged as a primary growth engine, demonstrating a massive 50% growth in value and 30% growth in volume. A pivotal driving force behind this outperformance is the rapid adoption of Electric Vehicles (EVs) in the two-wheeler domain. SSWL’s strategic positioning as a preferred supplier of specialized wheels for new-age EV two-wheeler platforms has unlocked substantial volume additions and enhanced realization.
• Macro Headwinds and Mitigations: The Passenger Car segment. witnessed localized inventory corrections (-9% by volume) as dealership channels rationalized inventories. Additionally, global Exports experienced a temporary decline of 59% in volume, affected by persistent global shipping constraints and route disruptions. However, the impact was successfully mitigated by the highly diversified domestic product mix of the Company.

4. Outlook
The structural shift in the product matrix towards premium product lines like aluminum wheel applications positions the Company to maximize realization trends. Backed by resilient domestic demand vectors, the management remains focused on optimizing product-mix margins, utilizing capacity efficiently, and maintaining financial discipline across market conditions.