SSWL slips on reporting 24% decline in total wheel rim sales in August 2019

04 Sep 2019

Steel Strips Wheels (SSWL) is currently trading at Rs. 772.00, down by 10.55 points or 1.35% from its previous closing of Rs. 782.55 on the BSE.

The scrip opened at Rs. 772.30 and has touched a high and low of Rs. 772.30 and Rs. 772.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1200.65 on 04-Sep-2018 and a 52 week low of Rs. 724.00 on 09-Jul-2019.

Last one week high and low of the scrip stood at Rs. 782.95 and Rs. 772.00 respectively. The current market cap of the company is Rs. 1203.53 crore.

The promoters holding in the company stood at 60.08%, while Institutions and Non-Institutions held 1.01% and 38.90% respectively.

Steel Strips Wheels (SSWL) has achieved total wheel rim sales of 10.72 lakh in August 2019 as compared to 14.14 lakh in August 2018, recording a decline of 24%. The August month saw continued cut in inventory and production from auto makers to further rationalize the inventory. The August 2018 base was the highest ever so the base effect also played a role for double digit de-growth.

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.

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