3 Steel Wheels Maker, Forgings and Axles Maker and Powertrain and Aluminium Components Maker Stocks With a Strong Future Roadmap: Wheels India, Bharat Forge and Craftsman Automation

Steel wheel, forging and powertrain stocks offer a focused view of a sector where demand keeps widening. Wheels India, Bharat Forge and Craftsman Automation cover a steel wheels maker, a forgings and axles maker and a powertrain and aluminium components maker.

This list covers three steel wheel, forging and powertrain stocks with complete current figures: Wheels India, Bharat Forge and Craftsman Automation. Every figure comes from the latest reported financials and the 29 October 2026 market close. Companies without complete current figures were left out.

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What Are Steel Wheel, Forging and Powertrain Stocks?

Steel wheel, forging and powertrain stocks are listed companies that make steel wheels for commercial vehicles and tractors, supply forged axles and chassis parts with a growing defence business and produce powertrain and aluminium components and industrial products. Their earnings depend on vehicle volumes, industrial orders and input costs.

Steel Wheel, Forging and Powertrain Stocks at a Glance

On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing steel wheel, forging and powertrain stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain. With the Q2 FY27 results season close, investors in steel wheel, forging and powertrain stocks can use the coming numbers to test whether growth is holding.

Why Do Steel Wheel, Forging and Powertrain Stocks Have a Strong Roadmap in India?

Steel wheel, forging and powertrain stocks have a strong roadmap in India because rising freight and farm vehicle output, demand for forged parts and growing industrial products keep widening the market for these engineering and auto makers.

• Freight demand. Trucks and tractors need strong wheels and axles.
• Forged parts. Heavy components need precision forging.
• Wide products. Auto and industrial lines spread the business.

Why Wheels India Features Among These Steel Wheel, Forging and Powertrain Stocks

Among the steel wheel, forging and powertrain stocks on this list, Wheels India, based in Chennai, manufactures steel wheels for commercial vehicles, tractors and off-highway machines, and is part of the Amalgamations group.

Revenue rose from Rs 3,979 crore in FY22 to Rs 5,488 crore in FY26, a compound annual growth rate of 8.4%. Net profit grew from Rs 74.2 crore in FY22 to Rs 158 crore in FY26, which works out to a compound annual growth rate of 20.8%.

In the June 2026 quarter, revenue grew 17.7% year on year to Rs 1,493 crore, while net profit rose 27.3% to Rs 38.9 crore. The company has a return on equity of 14.9%, a debt to equity ratio of 0.74 and a market capitalisation of Rs 6,549 crore. The stock trades at a P/E of 39.4, above the industry P/E of 36.9.

Roadmap: Demand from trucks, tractors and construction equipment, along with exports and a growing aftermarket, supports its volumes. The company is also working on lighter wheels and new products for farm and construction machines.

What to watch: Follow farm and construction equipment demand and steel prices.

Why Bharat Forge Features Among These Steel Wheel, Forging and Powertrain Stocks

Among the heavy vehicle parts shares on this list, Bharat Forge is a Pune-based maker of forgings, axles and chassis components for automotive and industrial customers, and it has a growing defence and aerospace business that includes artillery systems and components.

In the June 2026 quarter, revenue grew 18.7% year on year to Rs 4,697 crore. Revenue rose from Rs 10,657 crore in FY22 to Rs 17,010 crore in FY26, a compound annual growth rate of 12.4%.

Net profit grew from Rs 508 crore in FY23 to Rs 1,089 crore in FY26, which works out to a compound annual growth rate of 28.9%. The company has a return on equity of 11.3%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 87,540 crore. The stock trades at a P/E of 122.4, above the industry P/E of 50.7.

Roadmap: The company is widening its mix beyond automotive into defence, aerospace and industrial products, where programmes run for many years. Its forging expertise and global customer base support a range of applications.

What to watch: Check order inflow in defence and aerospace and the share of non-automotive sales.

Why Craftsman Automation Features Among These Steel Wheel, Forging and Powertrain Stocks

Among the three companies on this list, Craftsman Automation, based in Coimbatore, makes powertrain components, aluminium products and industrial and engineering products such as storage solutions and machine building.

The company has a return on equity of 11.8%, a debt to equity ratio of 1.11 and a market capitalisation of Rs 28,768 crore. The stock trades at a P/E of 61.9, above the industry P/E of 36.1.

Revenue rose from Rs 2,224 crore in FY22 to Rs 8,131 crore in FY26, a compound annual growth rate of 38.3%. Net profit grew from Rs 163 crore in FY22 to Rs 384 crore in FY26, which works out to a compound annual growth rate of 23.9%. In the June 2026 quarter, revenue grew 37.2% year on year to Rs 2,455 crore, while net profit rose 116.3% to Rs 151 crore.

Roadmap: The company is adding capacity across powertrain, aluminium and industrial divisions to serve customers in several sectors. A diversified base reduces dependence on any one product line.

What to watch: Follow capacity additions, aluminium division growth and demand from industrial customers.

Wheels India vs Bharat Forge vs Craftsman Automation on Key Financials

The table below sets the three steel wheel, forging and powertrain stocks side by side on revenue, profit and margin, using reported figures.

Wheels India posts the highest return on equity in this group at 14.9%. Bharat Forge has the largest FY26 revenue at Rs 17,010 crore, and Craftsman Automation shows the fastest revenue growth with a 38.3% compound annual rate. A useful habit with steel wheel, forging and powertrain stocks is to check each new quarterly result against the capacity plans the company described earlier.

The June 2026 quarter, the latest reported, gives a fresh read on momentum:

Key Risks to Check Before Investing in Steel Wheel, Forging and Powertrain Stocks

Every theme carries risks that deserve a check before any decision. For these steel wheel, forging and powertrain stocks, the main points are: Long-term heavy vehicle parts shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.

• Production cycles. Vehicle output can vary with demand.
• Input costs. Metal and material prices can move margins.
• Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.

Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.

Use the Univest Stock Screener to filter steel wheel, forging and powertrain stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.

Final Thoughts on Steel Wheel, Forging and Powertrain Stocks

Steel wheel, forging and powertrain stocks reward patient research into demand, execution and financial strength. Wheels India, Bharat Forge and Craftsman Automation each have a clear plan to grow. Based on the 29 October 2026 close, Wheels India trades at Rs 2,196.8, Bharat Forge at Rs 1,766.3 and Craftsman Automation at Rs 10,833. Valuation matters as much as growth, so compare each company's P/E with its industry P/E before adding any of these steel wheel, forging and powertrain stocks to a watchlist.

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What are steel wheel, forging and powertrain stocks?

Ans. Steel wheel, forging and powertrain stocks are listed companies that make steel wheels for commercial vehicles and tractors, supply forged axles and chassis parts with a growing defence business and produce powertrain and aluminium components and industrial products. Their earnings depend on vehicle volumes, industrial orders and input costs. This list looks at three of them, Wheels India, Bharat Forge and Craftsman Automation, using reported FY22 to FY26 financials and the 29 October 2026 closing prices.

Which steel wheel, forging and powertrain stocks are covered in this list?

Ans. This list covers Wheels India, Bharat Forge and Craftsman Automation. Based on the 29 October 2026 close, Wheels India traded at Rs 2,196.8, Bharat Forge at Rs 1,766.3 and Craftsman Automation at Rs 10,833. Their return on equity ranges from 11.3% to 14.9%, and their revenue compound annual growth from FY22 to FY26 ranges from 8.4% to 38.3%.

Why do steel wheel, forging and powertrain stocks have a strong future roadmap in India?

Ans. Steel wheel, forging and powertrain stocks have a strong roadmap in India because rising freight and farm vehicle output, demand for forged parts and growing industrial products keep widening the market for these engineering and auto makers. The main drivers are as follows. Freight demand. Trucks and tractors need strong wheels and axles. Forged parts. Heavy components need precision forging. Wide products. Auto and industrial lines spread the business. Together these factors give the companies on this list a visible path for growth over the coming years.

How has Wheels India performed financially?

Ans. Revenue rose from Rs 3,979 crore in FY22 to Rs 5,488 crore in FY26, a compound annual growth rate of 8.4%. Net profit grew from Rs 74.2 crore in FY22 to Rs 158 crore in FY26, which works out to a compound annual growth rate of 20.8%. In the June 2026 quarter, revenue grew 17.7% year on year to Rs 1,493 crore, while net profit rose 27.3% to Rs 38.9 crore. The company has a return on equity of 14.9%, a debt to equity ratio of 0.74 and a market capitalisation of Rs 6,549 crore. The stock trades at a P/E of 39.4, above the industry P/E of 36.9. Looking ahead, demand from trucks, tractors and construction equipment, along with exports and a growing aftermarket, supports its volumes. The company is also working on lighter wheels and new products for farm and construction machines.

How has Bharat Forge performed financially?

Ans. Revenue rose from Rs 10,657 crore in FY22 to Rs 17,010 crore in FY26, a compound annual growth rate of 12.4%. Net profit grew from Rs 508 crore in FY23 to Rs 1,089 crore in FY26, which works out to a compound annual growth rate of 28.9%. In the June 2026 quarter, revenue grew 18.7% year on year to Rs 4,697 crore. The company has a return on equity of 11.3%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 87,540 crore. The stock trades at a P/E of 122.4, above the industry P/E of 50.7. Looking ahead, the company is widening its mix beyond automotive into defence, aerospace and industrial products, where programmes run for many years. Its forging expertise and global customer base support a range of applications.

How has Craftsman Automation performed financially?

Ans. Revenue rose from Rs 2,224 crore in FY22 to Rs 8,131 crore in FY26, a compound annual growth rate of 38.3%. Net profit grew from Rs 163 crore in FY22 to Rs 384 crore in FY26, which works out to a compound annual growth rate of 23.9%. In the June 2026 quarter, revenue grew 37.2% year on year to Rs 2,455 crore, while net profit rose 116.3% to Rs 151 crore. The company has a return on equity of 11.8%, a debt to equity ratio of 1.11 and a market capitalisation of Rs 28,768 crore. The stock trades at a P/E of 61.9, above the industry P/E of 36.1. Looking ahead, the company is adding capacity across powertrain, aluminium and industrial divisions to serve customers in several sectors. A diversified base reduces dependence on any one product line.

What risks should investors check before buying steel wheel, forging and powertrain stocks?

Ans. Investors should check a few risks before buying steel wheel, forging and powertrain stocks. Production cycles. Vehicle output can vary with demand. Input costs. Metal and material prices can move margins. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.

Is this list of steel wheel, forging and powertrain stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 29 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.