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SSWL reports 3% fall in total wheel rim sales in May

Steel Strips Wheels (SSWL) has reported 3% fall (y-o-y) in its total wheel rim sales to 11.19 lakh in May 2017 as compared to 11.51 lakh in May 2016. The drop was majorly due to the commercial vehicle volume adjustment for BS-IV, which is expected to pick up in June 2017 onwards the production started picking up from mid May 2017 The June schedule has picked up considerably on commercial vehicle side and will make up for the May loss The BS-III to BS-IV conversion is taking time for OEM and that has resulted in volume drop which is now getting compensated with most of the conversion going through.

In terms of value, the company has achieved gross turnover of Rs 107.75 crore in May 2017 compared to 125 47 crore in May 2016, there by recording a drop of 17% and achieved net turnover of Rs 94.49 crore in May 2017 compared to Rs 112.61 crore in May 2016, recording a drop of 16%.

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.

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