Steel Strips Wheels (SSWL) has reported contraction of 2% in its total wheel rim sales of 10.18 lakh compared to 10.42 lakh in December 2015. The impact of demonetization was well absorbed by the company due to increase in market share with every customer.
In terms of value, the company has achieved gross turnover of Rs 109.89 crore in December 2016 compared to Rs 107.60 crore in December 2015, there by recording growth of 2% and achieved net turnover of Rs 98.97 crore in December 2016 compared to Rs 97.00 crore in December 2015, recording a growth of 2%.
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.
