Steel Strips Wheels (SSWL) gained 1.17% to Rs 804.25 after after the company's net turnover jumped 19.45% to Rs 359.78 crore in September 2022 from Rs 301.21 crore in September 2021.
The company achieved gross turnover of Rs 445.42 crore in September 2022 as against Rs 354.86 crore in September 2021, registering a growth of 25.43% year on year (YoY).
The company's Alloy Wheels segment zoomed 156% YoY in September 2022, followed by passenger car segment, which surged 117% YoY. Truck segment grew 38% YoY, Tractor segment jumped 15% YoY and 2 & 3 wheelers segment rose 5% YoY.
Meanwhile, total exports slumped 76% YoY in August 2022.
SSWL is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas.
The company's net profit dropped 13.61% to Rs 44.13 crore in Q1 FY23 compared with 51.08 crore in Q1 FY22.
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