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Steel Strips Wheels Ltd achieves total wheel rim sales of 14.61 lacs in Sep 2020

Posted On: 2020-09-30 21:49:55

Steel Strips Wheels Ltd (SSWL) has achieved September 2020 total wheel rim sales of 14.61 Lacs Vs 11.74 Lacs in September 2019 representing a growth of 24.4% YoY & 29.8 % on MOM basis.

SSWL has achieved gross turnover of Rs 201.41 Crs in Sep 2020 V 139.74 Crs in Sep 2019, there by recording a growth of 44.1 % and achieved Net turnover of Rs.166.82 Crs in Sep-2020 Vs Rs. 115.59 Crs in Sep-19 recording a growth of 44.3%. This month should see the best ever monthly operational performance.

Alloy Wheel Segment reported its highest Monthly Volume sale ever in Sep 2O2O with a 719% YOY growth.

Exports Segment growth by 97.91% in Sep 2020 yoy. The export segment maintained a good pull having grown by 97.91%, and we expect the Month of October to report further growth as Export order book is at its highest level for company. And we are confident of crossing 30 percent volume growth for this financial year.

Commercial Vehicles segment volumes growth by 28.4% yoy in Sep 2O2O. The Commercial segment volume grown by 28.42% on YOY basis. Citing the 51.36% MOM growth in Sep-20 growth trend is expected in coming months.

Tractor volumes rose by 10.8% in Sep 2020 YoY. The tractor segment maintained momentum in Sep-20 maintain healthy run rate of production demand going ahead. The segment is running at all-time high rate for the company.

Passenger car segment growth by 16.93% in Sep 2020 yoy, The PV segment grew by 16.93% on YOY basis, with the festival season ahead and strong demand pulling up in the segment further growth is expected in the segment.

2 & 3 Wheelers Segment fell 26.6%. The 2/3 wheeler segment continued its volume trend, citing the 25.44% MOM growth & festival season ahead expected to boost up the sales in Q3 2020.

Shares of STEEL STRIPS WHEELS LTD. was last trading in BSE at Rs.438.05 as compared to the previous close of Rs. 444.05. The total number of shares traded during the day was 1096 in over 187 trades.

The stock hit an intraday high of Rs. 450 and intraday low of 437.9. The net turnover during the day was Rs. 485959.

Source: Equity Bulls

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