Steel Strips Wheels reports Rs350crore sales revenue for first time in Q4FY22; stock spurts ~5%

1 Apr 2022 , 11:30 AM

Steel Strips Wheels Limited has achieved a net turnover of Rs365.73 crore in March 2022, as compared to Rs253.29 crore in March 2021, a growth of 44.39% yoy.

It has achieved a Gross Turnover of Rs446.65 crore in March 2022 as against Rs307.38 crore in March 2021, thereby reporting growth of 45.20% yoy.

It has reported 78% yoy growth in Alloy Wheels segment sales revenue, and 69% yoy growth in truck segment’s sales revenue. The passenger car sales grew by 26% yoy and exports jumped 19% yoy.

Whereas the 2 & 3 wheelers segment reported a 7% yoy decline in its sales, and tractor segment’s sale revenue dipped by 15% yoy.

Steel Strip Wheels’ counter jumped 5% in today’s trade at Rs850.75 against its previous close of Rs810.25 on NSE. It touched an intraday high and low of Rs850.75 and Rs815.30 respectively.