SSWL marks 19 per cent decline in September sales

Chandigarh-headquartered company, Steel Strips Wheels Limited (SSWL) on Thursday reported its sales data for the month of September 2019.

The company said that it has achieved total wheel rim sales of 11.75 lakh in September 2019 as compared to 14.59 lakh in September 2018, which represents a decline of 19 per cent on YoY basis. The number is lower despite the fact that September saw the highest sale figure for the company ever. The MoM growth in volumes in September is 10 per cent and the company expects this MoM improvement sustaining going ahead.

The exports rose by 8 per cent in same month in comparison to last year. The growth slowdown in domestic market is marginally offset by rise in exports. Continued shut downs in manufacturing of commercial vehicles have impacted the volumes in this segment for SSWL. The segment saw sharp volume decline of 74 per cent on YoY basis during September 2019.

Steel Strips Wheels is engaged in the business of manufacturing single piece steel wheel rims in the range of 10 to 30 inches mostly used in scooters, passenger cars, utility vehicles and tractors which is covering almost all the vehicle segment. Its supply of rims goes to almost all key manufacturers in the auto sector.

At 14.10 hours, the stock traded at Rs. 770, down by 1.5 per cent on BSE.