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Steel Strips Wheels Ltd reports 22% higher revenue in November 2018

Posted On: 2018-12-03 14:40:48

Steel Strips Wheels Ltd (SSWL) has achieved gross turnover of Rs 204.52 Crs in November 2018 Vs 172.75 Crs in November 2017, there by recording a growth of 18% and achieved Net turnover of Rs.172.52 Crs in November 2018 Vs Rs.138.85 Crs in November 2017, recording a growth of 24%.

SSWL achieved total wheel rim sales of 12.78 Lacs Vs 12.96 Lacs in November 2018 representing a Fall of 1% YoY.

Commercial Vehicles segment volumes grew by 27% YoY in November 2018. The CV segment witnessed consistent growth and we are utilizing all the resources to feed the domestic as well as export customers to gain maximum sales. Exports orders are swelling and order book is healthy going into Q4 of 18-19. We expect the trend to be strong for the rest of the year and maintain the yearly guidance for the segment.

Exports Segment Grew by 77%. The segment is reporting very good growth with the help of record truck segment exports to US. We expect the export pipe line to extremely robust backed by the international tariff war and very good demand from US & EU truck segment customers.

2 & 3 Wheelers Segment grew by 17%. 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% in November 2018 YoY. The PV volumes fell by 23% as festive sales were less encouraging resulting in production cuts at major auto makers to adjust car inventory. We expect the adjustment to be over in December to again turnaround in Q4 FY 18-19.

Tractor volumes rose by 2% in November 2018 YoY. The tractor segment saw 2% rise with seasonality of crop harvesting playing its role. Q4 is expected to again start the high growth environment and reach next record levels for the company.

Shares of STEEL STRIPS WHEELS LTD. was last trading in BSE at Rs.989.8 as compared to the previous close of Rs. 994.5. The total number of shares traded during the day was 933 in over 132 trades.

The stock hit an intraday high of Rs. 1008 and intraday low of 988. The net turnover during the day was Rs. 932027.

Source: Equity Bulls

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