Steel Strips Wheels (SSWL) has sold 8.01 lakhs steel wheel rims during the month of January 2013, a decline of 6.42% as against 8.56 lakhs steel wheel rims during the month of January, 2012. The company has achieved a gross sale of Rs 84.15 crore during January, 2013 period as against Rs 89.17 crore in January, 2012. The net sales of the company is Rs 75.44 crore in January 2013 as against Rs 81.34 crore in January, 2012.
The company has achieved export sales of 97,848 wheel rims during the month of January, 2013 as against 68,480 wheel rims during the month of January, 2012, registered a growth of 42.89%. The company is expected to achieve sale of 8.30 lakhs steel wheels rims in February, 2013.
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.
The company is expecting further upward momentum in sales over upcoming months due to slew of new model launch by automobile manufacturers and impact of increase in market share. The export growth will see some uptick with overseas markets holding ground and showing some signs of improvements.
Besides, the company is also hoping that the commercial vehicle segment will see some revival due to government plans of sustaining infrastructure led growth in the country to kick start fresh investment cycle. The recent rate cut by RBI has pushed banks to lower the interest rates specifically for passenger car segment. The company expects that this will ensure some growth push for the segment.
