Steel Strips Wheels (SSWL), a producer of automobile wheel rims, recorded an increase of 12.5% in wheels sales of 859,679 during December 2013 as against 764,714 in December 2012. Exports rose 58% year-on-year (Y-o-Y) with total sales at 140,346 as against 88,746 in December 2012. The growth is coming from new business starts and ramp of existing business on the back of consistently improving global environment.
Passenger Car segment grew by 4% despite sluggish car sales indicating the increasing market share and new business starts reflecting its presence felt. 2 & 3 wheeler segment grew by 25% and is expected to keep the momentum going ahead in next quarter. Meanwhile, tractor segment grew 3% in the month of December YoY. The growth slowed down due to season reason is further expected to grow 12-15%
In terms of Value, the company has achieved a gross turnover of Rs 78.24 crore in December 2013 Vs 75.75 crore in December 2012 and achieved a Net turnover of Rs. 65.85 crore in December 2013 Vs 62.67 crore in December 2012.
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.
