SSWL ends higher by 2 per cent on achieving highest-ever export volume sales in April

On Monday, Steel Strips Wheels Limited (SSWL), a leader in designing & manufacturing automotive wheels announced its monthly sales figures for April 2021.   

SSWL achieved its second-highest net turnover of Rs 235.28 crore in April 2021 as against a turnover of Rs 253.29 crore in March 2021 thereby, recording a decrease of 7.11 per cent MoM. The gross turnover of Rs 284.34 crore in April 2021 declined by 7.49 per cent MoM from Rs 307.38 crore in March 2021.      

The volumes, particularly in the personal vehicle (PV) segment saw a decline in the month amid the rising second wave in India and partial lockdowns along with issues faced, pertaining to the supply chain. However, the company stated in its filing to BSE that although volumes in the PV segment is under pressure due to the COVID-19 situation, the rebound will be sharp due to the segment remaining strongly based on personal mobility issues.   

In contrast to the domestic performance, the export segment achieved its highest-ever sales by volume in April 2021 and is expected to grow further, given the current order backlogs. The segment rose 4 per cent, MoM, while the company is expected to maintain the current sales volume run rate, going ahead.  

On Monday, the shares of SSWL closed at Rs 730, up by 2.22 per cent or Rs 15.85 per share, against a 0.13 per cent decline in the benchmark index. The 52-week high of the company is recorded at Rs 776.10 while its 52-week low is Rs 317.35 on BSE.