SSWL net turnover slides 7% YoY in August

Steel Strips Wheels (SSWL) achieved net turnover of Rs 363.10 crore in August 2024, down 6.84% from Rs 389.77 crore posted in August 2023.

The company's gross turnover fell 6.17% to Rs 442.15 crore in August 2024 from Rs 471.24 crore recorded in August 2023.

In value terms, the Passenger CarAlloy segment jumped 16% YoY and Tractor segment grew by 9% YoY. On the other hand, 2&3 Wheeler segment shed 1% YoY, Passenger Car- Steel segment declined 5% YoY, Truck segment dropped 29% YoY and Exports segment slipped 15% YoY in August 2024.

In volume terms, the Passenger Car-Alloy segment increased 13% YoY and the Tractor segment rose 5% YoY. However, the 2&3 Wheeler segment declined 6% YoY, the Passenger Car-Steel segment fell 14% YoY, the Truck segment slumped 28% YoY and Exports dropped 25% YoY 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 13.9% to Rs 40.81 crore in Q1 FY25 as against Rs 47.41crore posted in Q1 FY24. Revenue from operations decreased 1.8% YoY to Rs 1,025.29 in Q1 FY25.

The scrip shed 0.20% to Rs 226.70 on the BSE.

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