Steel Strips Wheels Q4FY18 profit more than doubles

Steel Strips Wheels reported its results for the quarter ended March 31, 2018. The company’s standalone revenue for the quarter came in at Rs. 431.08 crore, registering 1.9 per cent yoy increase.

EBITDA for the quarter rose by 26.6 per cent yoy to Rs. 56.5 crore with a corresponding margin expansion of 256 bps. EBITDA margin for the quarter stood at 13.1 per cent.

The PAT for the quarter came in at Rs. 22.4 crore, yoy increase of 126.3 per cent.

Looking at the full year numbers, we see that revenue jumped by 5 per cent to reach Rs. 1,557.16 crore while EBITDA rose by 21 per cent to Rs. 200.03 crore. The company reported net profit of Rs. 75.09 crore, up 35 per cent yoy.

The company's board of directors has recommended a final dividend of Rs. 4 per equity share of the face value of Rs. 10 each.

On Monday, the stock opened at Rs. 1,325.10 per share, up by 1 per cent from its previous close of Rs. 1,307.70. At 10:01, the stock was trading around Rs. 1,360, trading higher by 4 per cent, on the BSE.