After increasing net turnover by 42.58% to Rs 334.41 crore in December 2022 from Rs 234.54 crore in December 2021, Steel Strips Wheels (SSWL) advanced 2.95% to Rs 164.05. 

In December last year, the company achieved a gross turnover of Rs 413.76 crore, registering a growth of 45.08% yearly. The company’s truck segment zoomed 113% YoY in December 2022, followed by the Tractor segment, which surged 73%  yearly. The Alloy Wheels segment jumped 69% annually, and the Passenger Car segment rose 10% yearly. 

Total exports slumped 45% YoY last year.

The company has to manufacture steel wheel rims catering to different segments in the automobile industry and operate in the segment of the automotive wheel. Its geographical features include India and overseas.

On a consolidated basis, the net profit of SSWL slipped by 13% to Rs 54.61 crore despite a 12.8% rise in net sales to Rs 1,081.09 crore in the second quarter of FY23 over the second quarter of FY22.