Steel Strips Wheels shines on reporting 13.60% growth in May sales

Steel Strips Wheels is currently trading at Rs. 186.70, up by 2.55 points or 1.38% from its previous closing of Rs. 184.15 on the BSE.

The scrip opened at Rs. 183.95 and has touched a high and low of Rs. 191.90 and Rs. 179.40 respectively. So far 4923 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 310.00 on 04-Jul-2011 and a 52 week low of Rs. 162.00 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs. 199.55 and Rs. 179.40 respectively. The current market cap of the company is Rs. 267.18 crore.

The promoters holding in the company stood at 52.68% while Institutions and Non-Institutions held 2.75% and 44.57% respectively. 

Steel Strips Wheels (SSWL) has registered a growth of 13.60% in gross sale by achieving gross sale of Rs 9,697 lakh in May, 2012 as against 8,536 lakh in May, 2011. The net sales of the company have also increased to Rs 8,782 lakh in May, 2012 from Rs 7,872 lakh in May, 2011, recording a growth of 11.56%. The company has achieved highest ever monthly sales in May, 2012.

In terms of number of wheel rims, the company sold 9.56 lakh steel wheel rims during May, 2012 as against 9.03 lakh in May, 2011. Further, the company has also achieved the export sales of 150,434 wheel rims during the month of May, 2012 as against 132,165 wheel rims during the month of May, 2011 and recorded a growth of 13.82%.

The company 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.