SSWL export segment achieves highest-ever sales by volumes in June; stock heads for multi-year breakout

The export segment achieved its highest-ever sales by volumes & sales in June 2021 while its passenger car segment rose by 157 per cent YoY amid an uptick in demand.

Steel Strips Wheels Limited (SSWL) is a leader in designing & manufacturing automotive wheels both under the steel & alloy category. The company caters to a wide range of domestic and global automobile makers while following the highest quality standards.   

The stock is seen buzzing on the bourses in an otherwise dull market. It has skyrocketed over 11 per cent as the company achieved a net turnover of Rs 242.40 crore in June 2021 vs Rs 82.76 crore in June 2020, which is a jump of 192.61 per cent YoY. It also achieved a gross turnover of Rs 284.32 crore in June 2021 as against Rs 97.59 crore reported in June 2020, recording growth of 191.07 per cent YoY.   

The export segment achieved its highest-ever sales by volumes & sales in June 2021 while its passenger car segment rose by 157 per cent YoY amid an uptick in demand. Tractor volumes were nearly at par, while the commercial vehicle segment and 2&3 wheelers segment registered a staggering growth of 194 per cent and 204 per cent YoY, respectively.  

The stock is up by nearly 200 per cent from the lows of May 2020 and it’s nearing a multi-year breakout. It registered the highest single-day volume since May 05, 2021.