SSWL net turnover declines to Rs 372 cr in Nov'24

Steel Strips Wheels (SSWL) reported a net turnover of Rs 371.52 crore for November 2024, registering a slight decline of 0.12% compared to Rs 371.98 crore posted in November 2023.

The company's gross turnover fell marginally to Rs 455.05 crore in November 2024 from Rs 455.87 crore recorded in November 2023.

In value terms, Tractor segment surged by 35% YoY, 2&3 Wheeler segment gained 39% YoY and Passenger CarAlloy segment jumped 19% YoY. However, the Passenger Car- Steel segment declined 13% YoY, Truck segment dropped 14% YoY and Exports segment slipped 34% YoY in November 2024.

In volume terms, Tractor segment soared by 33% YoY, 2&3 Wheeler segment surged 19% YoY and Passenger CarAlloy segment rose 9% YoY. On the other hand, Passenger Car- Steel segment declined 7% YoY, Truck segment dropped 12% YoY and Exports segment slipped 34% YoY in during the review period.

Steel Strips Wheels (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 companys consolidated net profit fell 11.8% to Rs 46.11 crore in Q2 FY25 as against Rs 52.30 crore posted in Q2 FY24. Revenue from operations decreased 3.4% YoY to Rs 1,095.10 in Q2 FY25.

The scrip rose 0.44% to Rs 203.90 on the BSE.

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