Steel Strips Wheels rises after good November sales

Steel Strips Wheels rose 1.81% to Rs 366 at 15:17 IST on BSE after the company announced that its total wheel rim sales jumped 21.15% to 10.54 lakh units in November 2014 over November 2013.

The announcement was made during trading hours today, 1 December 2014.

Meanwhile, the BSE Sensex was down 121.77 points, or 0.42%, to 28,572.22.

On BSE, so far 18,000 shares were traded in the counter, compared with an average volume of 13,030 shares in the past one quarter.

The stock hit a high of Rs 373 and a low of Rs 345 so far during the day. The stock hit a 52-week high of Rs 380.60 on 27 November 2014. The stock hit a 52-week low of Rs 112 on 17 February 2014.

The stock had outperformed the market over the past one month till 28 November 2014, rising 25.28% compared with 6.75% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 29.48% as against Sensex's 7.72% rise.

The small-cap company has an equity capital of Rs 15.21 crore. Face value per share is Rs 10.

In terms of value, Steel Strips Wheels (SSWL)'s gross turnover rose 12.35% to Rs 102.63 crore in November 2014 over November 2013. Net turnover rose 13.48% to Rs 92.41 crore in November 2014 over November 2013.

Passenger car segment grew 31% in November 2014 over November 2013. Two/three wheeler segment volumes grew by 27% in November 2014 over November 2013. Medium and heavy commercial vehicle (M&HCV) and light commerical vehicles (LCV) segment volumes grew by 80% in November 2014 over November 2013.

Exports fell by 10% to 0.93 lakh in November 2014 over November 2013. Tractor segment volumes dropped by 22% in November 2014 over November 2013.

Net profit of Steel Strips Wheels rose 60.77% to Rs 11.72 crore on 19.23% rise in net sales to Rs 315.73 crore in Q2 September 2014 over Q2 September 2013.

SSWL designs and manufactures automotive steel wheels and is among the leading supplier to Indian & global automobile manufacturers. its product range comprises steel wheels for two and three wheelers, passenger cars, multi utility vehicles, tractors, trucks and OTR vehicles.

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