Steel Strips Wheels share price plummeted 4.17 per cent at Rs 196.25 a piece on the BSE in Friday’s intraday trade. This came after the company reported a considerable drop in its profit for the third quarter of the financial year 2024-25 (Q3FY25).
The company's net profit slipped 19.2 per cent year-on-year to Rs 48 crore for the quarter ended December 31, 2024, compared with Rs 59.4 crore in the same quarter last year.
For Q3FY25, Steel Strips Wheels recorded a revenue slump of 3.2 per cent, reaching Rs 1,074.7 crore, compared to Rs 1,110 crore in the same quarter last year.
Earnings before interest, tax, depreciation and amortisation (Ebitda) rose by 1 per cent to Rs 118 crore from Rs 117 crore, with the Ebitda margin spurting to 11 per cent from 10.5 per cent in the previous year.
On the equities front, Steel Strips Wheels share price has underperformed the market, falling 10 per cent in the last six months, while losing 24 per cent in the last one year. In comparison, the BSE Sensex has slipped 4.9 per cent in the last six months, while rising 7.2 per cent in the last one year.
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Steel Strips Wheels has a total market capitalisation of Rs 3,126.82 crore. Its shares are listed at a price to earnings multiple of 14.53 and at an earning per share of 13.78.
At 3:00 PM, the stock price of the company fell by 2.22 per cent at Rs 200.25 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.42 per cent to 76,721.44 level.
Steel Strips Wheels Limited (SSWL), headquartered in Chandigarh, India, designs, manufactures, and supplies steel and alloy wheels for various vehicles, including cars, trucks, and tractors.
The company produces a range of wheels, such as tubeless, multi-piece, and high-vent designs, catering to domestic and international automobile manufacturers. SSWL operates manufacturing facilities across India, located in Dappar (Punjab), Oragadam (Tamil Nadu), Jamshedpur (Jharkhand), Mehsana (Gujarat), and Saraikela (Jharkhand).
Its key clients include prominent automakers like Maruti Udyog (MUL), Mahindra & Mahindra, and Bajaj Tempo.