Steel Strips Wheels export sales up 77% in November

Exports segment increased by 77% with the help of record truck segment exports to US.

Dec 03, 2018 10:12 IST India Infoline News Service

Steel Strips Wheels
Steel Strips Wheels Ltd (SSWL) has achieved gross turnover of Rs204.5cr in November 2018 vs. Rs172.75cr in November 2017, thereby recording a growth of 18% yoy and net turnover of Rs172.5cr in November 2018 vs. Rs138.85cr in November 2017, recording a growth of 24% yoy.

The company achieved total wheel rim sales of 12.78 lakh vs. 12.96 lakh in November 2018, which is down by 1% on yoy basis.

Commercial Vehicles segment volumes grew by 27% yoy in November 2018. The CV segment witnessed consistent. Exports segment increased by 77% yoy. The segment is reporting very good growth with the help of record truck segment exports to US. 

2 & 3 Wheeler segments grew by 17% yoy. The sales rose in the month due to balancing impact of sentiment on falling fuel prices. The segment had decent festive sales and resulted in continuity of growth.

Passenger car segment volumes fell by 23% yoy in November 2018. The PV volumes fell by 23% yoy as festive sales were less encouraging resulting in production cuts at major auto makers to adjust car inventory. Further, tractor volumes rose by 2% yoy in November 2018. 

Steel Strips Wheels Ltd ended down by 0.38% at Rs986.05 from its previous closing of Rs989.80 on the BSE. The scrip opened at Rs993 and touched a high and low of Rs993.60 and Rs970.10 respectively.

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