Steel Strips Wheels (SSWL) achieved net turnover of Rs 340.72 crore in March 2024 as compared with Rs 367.69 crore in March 2023, recording de-growth of 7.34% YoY.
The companys gross turnover fell 8.68% to Rs 415.05 crore in March 2024 from Rs 454.52 crore in March 2023.In volume terms, the exports segment registered highest growth (up 45%), Passenger Car- Steel (up 14%), 2&3 wheeler (down 5%), Tractor (down 5%), Passenger Car-Alloy (down 9%), Truck (down 19%).
In value terms, the exports segment recorded highest growth (up 76%), Passenger Car- Steel (up33%), 2&3 Wheeler (up 13%), Tractor (down 7%), Passenger Car-Alloy (down 9%) and Truck (down 21%).
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 company reported 35.76% jump in consolidated net profit to Rs 59.41 crore in Q3 FY24 as compared with Rs 43.76 crore posted in Q3 FY23. Revenue from operations stood at Rs 1,110.30 crore in Q3 FY24, up 18.31% from Rs 938.44 crore recorded in the previous year current fiscal.
The counter rallied 5.34% to Rs 232.90 on the BSE.
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