SSWL net turnover slips 4% YoY in May 2024

Steel Strips Wheels (SSWL) achieved net turnover of Rs 342.04 crore in May 2024, down 4.26% as compared with Rs 357.27 crore in May 2023.

The companys gross turnover declined 3.17% to Rs 419.55 crore in May 2024 from Rs 433.30 crore posted in May 2023.

In value terms, the 2&3 wheeler segment climbed 64% YoY, Tractor segment jumped 22% YoY, Alloy Wheels segment fell 1% YoY, Passenger Car segment slipped 12%YoY while Truck segment shed 14% YoY and Exports segment tumbled 40% YoY in May 2024.

In volume terms, the 2&3 wheeler segment surged 44% YoY, followed by Tractor segment (up 25% YoY) and Alloy Wheels segment (up 1% YoY). On the other hand, Passenger Car segment (down 20% YoY), Truck segment (down 17% YoY) and Exports (down 50% YoY) during the period under review.

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.

Steel Strips Wheels (SSWL) reported a consolidated net profit of Rs 515.56 crore in Q4 FY24, steeply higher than RS 47.29 crore posted in Q4 FY23. Revenue from operations stood at Rs 1,068.67 crore in Q4 FY24, up 6.34% from Rs 1,004.92 crore recorded in the same period previous year.

The scrip rose 0.65% to Rs 216.40 on the BSE.

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