Steel Strips Wheels (SSWL) rose 4.31% to Rs 1809.95 after the company achieved net turnover of Rs 301.21 crore in September 2021 compared with Rs 166.82 crore in September 2020, recording a growth of 80.45% YoY.
SSWL said it achieved gross turnover of Rs 354.86 crore in September 2021 as against Rs 201.41 crore in September 2020, there by recording a growth of 76.07% YoY.
In September 2021, the company's truck segment surged 132%, tractor segment jumped 33%, 2 & 3 wheelers rose 20% and passenger car segment increased 7%.
The company's exports surged 178% in September 2021 over September 2020.
The company said it reported highest ever quarterly net sales above Rs 900 crore. This is the third consecutive month in which the sales crossed Rs 300 crore.
SSWL reported a net profit of Rs 51.08 crore in Q1 FY22 as against a net loss of Rs 38.09 crore in Q1 FY21. Net sales surged 463.84% YoY to Rs 678.13 crore during the quarter.
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 board of SSWL recently approved a proposal of splitting each equity share of face value of Rs 10 into two equity shares of face value of Rs 5 each.
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