Steel Strips Wheels (SSWL) rose 1.56% to Rs 1830 after the company's net profit surged 347.93% to Rs 62.80 crore on 136.71% increase in net sales to Rs 958.04 crore in Q2 September 2021 over Q2 September 2020.
Profit before tax (PBT) surged 525% year-on-year to Rs 96.75 crore in Q2 September 2021.Total expense jumped 119.28% to Rs 864.87 crore during the period under review.
During the quarter, the company's cost of raw material jumped 142.07% year-on-year to Rs 568.86 crore amid the ongoing commodity inflation. Employee benefit expense rose 79.30% to Rs 52.05 crore.
Net cash from operating activities surged to Rs 174.35 crore as on 30 September 2021 compared with loss of Rs 15.54 crore as on 31 March 2021.
Meanwhile, the company's board has fixed 22 November 2021 as the record date for the proposed 2-for-1 stock split.
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.
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