SSWL achieves revenue growth of 11% yoy in October 2022

1 Nov 2022 , 01:07 PM

Steel Strips Wheels Ltd (SSWL) has achieved Net turnover of Rs334.42 crore in October 2022 Vs Rs300.58 crore in  October  2021, recording a growth of 11% yoy and achieved Gross turnover of Rs417.03 crore in October 2022 Vs Rs355.73 crore in October 2021, there by recording a growth of 17% yoy.

The growth was held back by a margin due to Diwali Manufacturing Holidays at the customer end in October 2022.

The festive retail demand was fairly strong in every segment and we expect the momentum to sustain going past it, the company said in a regulatory filing on Tuesday.

Further, the monthly revenue  in alloy wheels grew by 103% yoy and revenue in CV segment jumped 41% yoy. Similarly, Tractor and passenger cars revenue climbed 19% yoy and 25% yoy respectively.

At around 1:16 PM, Steel Strips Wheels Ltd is currently trading at Rs790.05 per share down by Rs14.65 or 1.82% from its previous closing of Rs804.70 per share  on the BSE.

The scrip opened at Rs804.65 per share and has touched a high and low of Rs810.35 per share and Rs783.25 per share respectively so far today. The current market cap of the company is Rs2,518.92 crore.

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