Steel Strips Wheels posts turnover of Rs 107.6cr in Dec 2015

Chandigarh-based Steel Strips Wheels Ltd today said it has registered higher gross turnover at Rs 107.60 crore in December 2015 as compared to the same month in 2014.
The company has registered a gross turnover of Rs 107.60 crore in December 2015 from Rs 99.80 crore in December 2014, a growth of 8 per cent, a statement said here.
The company has achieved total wheel rim sales of Rs 10.42 lakh in December 2015 as compared to Rs 10.10 lakh in December 2014, representing a 3 per cent Y-o-Y growth.
The truck wheel segment is continuously improving the company's profitability and will further strengthen it going forward, it said.

The company's passenger car segment grew by 3 per cent in December 2015 YoY. The passenger vehicle segment expanded by 3 per cent Y-O-Y and is expected to grow in high single digits going forward with few new platforms coming in Q4 for the company.
The LCV and MHCV segment volumes grew by 51 per cent in December 2015. The CV segment saw good momentum and the company registered highest sales of the Q3.
However, exports were down by 2 per cent in December. However, the segment will continue to be driven by good demand from EU and we hope to deliver higher exports in Q4 FY 16, the release added.