SSWL slips after net turnover slides 6% YoY in October

Steel Strips Wheels (SSWL) slipped 2.94% to Rs 201.15 after the company achieved net turnover of Rs 370.05 crore in October 2024, down 6.48% from Rs 395.67 crore posted in October 2023.

The company's gross turnover fell 5.44% to Rs 455.24 crore in October 2024 from Rs 481.41 crore recorded in October 2023.

In value terms, the Passenger CarAlloy segment jumped 16% YoY and Tractor segment fell by 1% YoY. On the other hand, 2&3 Wheeler segment gained 30% YoY, Passenger Car- Steel segment declined 20% YoY, Truck segment dropped 18% YoY and Exports segment slipped 38% YoY in October 2024.

In volume terms, the Passenger Car-Alloy segment increased 10% YoY and the Tractor segment fell 9% YoY. However, the 2&3 Wheeler segment jumped 31% YoY, the Passenger Car-Steel segment fell 15% YoY, the Truck segment slumped 16% YoY and Exports dropped 41% 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.

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