Steel Strips Wheels (SSWL) has reported 18% growth in its total wheel rim sales to 10.10 lakh as compared to 8.60 lakh in December 2013. In terms of Value, the company has achieved gross turnover of Rs 99.80 crore in December 2014 as compared to Rs 78.24 crore in December 2013, recorded a growth of 27.57% and achieved a Net turnover of Rs 90.61 crore in December 2014 as against Rs 71.47 crore in December 2013, recorded a growth of 26.78%. Moreover, the export volumes rose by 11% to 1.56 lakh in December 2014 as against 1.40 lakh in December 2013.
In segment growth, the company’s Passenger car segment grew by 26% in December 2014 year on year (YoY), while 2 & 3 Wheeler segment volumes grew by 8% in December 2014 YoY. Furthermore, the company’s LCV & MHCV segment volumes grew by 340% YoY in December 2014. However, the company’s Tractor segment volumes dropped by 55% in December 2014 YoY.
SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.
