Steel Strips Wheels record best monthly operational performance

Steel Strips Wheels Limited (SSWL) on Thursday announced its monthly sales data for the month of September. The company registered the highest monthly alloy wheel sales, highest monthly exports as well as the highest ever monthly tractor wheel sales.

The designer and manufacturer of automotive wheels, SSWL recorded the total wheel rim sales of 14.61 lakh in the month of September 2020 with a growth of 24.4 per cent YoY, compared to 11.7 lakh for the same month in the previous year. SSWL achieved a gross turnover of Rs 201.41 crore in September 2020, registering a growth of 44.1 per cent YoY as compared to Rs 139.74 crore in September 2019.

The company’s alloy wheel segment reported its highest monthly volume sale ever in September 2020 with an exceptional growth of 719 per cent YoY. The export segment of the company also showed a massive growth of 97.91 per cent YoY. SSWL anticipates further growth in exports for the month of October and a 30 per cent growth for the financial year 2020.

Its commercial segment volume recorded a growth of 28.42 per cent on a YoY basis and 51.36 per cent growth on MoM basis in September 2020 with further growth expectations in the coming months.

Meanwhile, the tractor segment of the company maintained a healthy production, increasing by 10.8 per cent YoY for September 2020 and its passenger segment saw an uptrend and recorded a growth of 16.93 per cent YoY.

However, its 2/3 wheelers segment showed de-growth of 26.6 per cent YoY for the month of September 2020. With the festive season around the corner, the sales of 2/3 wheelers are expected to boost in the third quarter of this financial year.

At 12.17 pm today, the share of SSWL was trading up by 2.3 per cent at Rs 452 on BSE. It has recorded a 52-week high of Rs 797 and a 52-week low of Rs 317.35 on BSE.