Steel Strip Wheels records 7% de-growth in July wheel rim sales

Steel Strip Wheels achieved July 2019 total wheel rim sales of 12.59 Lacs compared to 13.59 Lacs in July 2018 representing a de-growth of 7% YoY. The July month saw recovery in many section of automotive market as compared to June and the company expects this recovery to continue going ahead for this financial year. There was a growth of 12% MoM in total Volumes with both exports and domestic markets showing signs of improvement.

Steel Strip Wheels has achieved gross turnover of Rs 162.77 crore in July 2019 compared to 185.07 crore in July 2018, there by recording a decline of 12% and achieved Net turnover of Rs.134.75 crore in July 2019 compared to Rs.152.79 crore in July 2018, recording a decline of 12%.

 

The Chennai car Plant achieved highest production and sale in July 2019 with capacity utilization of 95% and the company expect to hit 100% utilization from August onwards on very strong exports demand for US and EU customers.

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