Steel Strips tractor segment to post highest-ever sales in Q2FY21

Automotive steel wheels designer and manufacturer, Steel Strips Wheels Limited (SSWL) has today informed the bourses about the performance of its tractor segment.

The company has stated that it will register the highest-ever tractor sales in Q2FY21 (July to September), supported by a very strong farm segment activity. With its sales’ growth, the company’s operating profit would also see a boost that would eventually, lead to healthy profitability.

SSWL currently enjoys approximately 42 per cent market share in the tractor segment. Going ahead, the company is likely to gain the market share in this segment, supported by an improvement in the overall performance.

Looking at the capacity utilisation, the tractor segment is currently operating at 105-107 per cent and this is likely to continue in FY21.

Talking about the other segments, SSWL is currently enjoying 52 per cent in the medium and heavy commercial vehicle (M&HCV) segment and 50 per cent of the market share in the passenger vehicle segment.

Today, the stock of SSWL opened at Rs 392.70 and gained nearly two per cent while, making an intraday high of Rs 398.95 on BSE.