SSWL jumps on reporting 13% growth in net turnover in January

Steel Strips Wheels Ltd. | Auto Ancillary | Automobiles | BSE: 513262 | NSE: SSWL

01 Feb 2023 Evaluate

Steel Strips Wheels is currently trading at Rs. 145.00, up by 2.80 points or 1.97% from its previous closing of Rs. 142.20 on the BSE.

The scrip opened at Rs. 148.00 and has touched a high and low of Rs. 149.95 and Rs. 144.05 respectively. So far 87013 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 189.69 on 07-Apr-2022 and a 52 week low of Rs. 126.20 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 149.95 and Rs. 126.20 respectively. The current market cap of the company is Rs. 2262.40 crore.

The promoters holding in the company stood at 62.60%, while Institutions and Non-Institutions held 0.83% and 36.58% respectively.

Steel Strips Wheels (SSWL) has achieved net turnover of Rs 345.89 crore in January 2023 as compared to Rs 305.57 crore in January 2022, recording a growth of 13.20% year-on-year (Y-o-Y) and achieved Gross turnover of Rs 429.57 crore in January 2023 as against Rs 377.83 crore in January 2022, thereby recording a growth of 13.69% Y-o-Y. However, the company’s exports declined 60% in January 2023 on Y-o-Y basis.

SSWL is engaged in the manufacturing of single piece steel wheel rims 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.