Steel Strips Wheels Ltd Share Price – NSE  /  BSE

Auto Ancillaries, Small Cap

The company stated that it is in a strategic partnership for supply of aluminum wheels besides steel wheels.

Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry.

The company’s consolidated net profit jumped 35.76% to Rs 59.41 crore on 18.31% increase in revenue from operations to Rs 1,110.30 crore in Q3 FY24 over Q3 FY23.

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Steel Strips Wheels has successfully secured a maiden entry as a supplier of aluminum wheels to one of the top passenger car manufacturers in India.

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The company’s gross turnover fell 8.68% to Rs 415.05 crore in March 2024 from Rs 454.52 crore in March 2023.

In volume terms, the exports segment registered highest growth (up 45%), Passenger Car- Steel (up 14%), 2&3 wheeler (down 5%), Tractor (down 5%), Passenger Car-Alloy (down 9%), Truck (down 19%).

In value terms, the exports segment recorded highest growth (up 76%), Passenger Car- Steel (up33%), 2&3 Wheeler (up 13%), Tractor (down 7%), Passenger Car-Alloy (down 9%) and Truck (down 21%).

Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas.

The company reported 35.76% jump in consolidated net profit to Rs 59.41 crore in Q3 FY24 as compared with Rs 43.76 crore posted in Q3 FY23. Revenue from operations stood at Rs 1,110.30 crore in Q3 FY24, up 18.31% from Rs 938.44 crore recorded in the previous year current fiscal.

The counter rallied 5.34% to Rs 232.90 on the BSE.

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Revenue from operations stood at Rs 1,110.30 crore in Q3 FY24, up 18.31% from Rs 938.44 crore recorded in the previous year current fiscal.

Profit before tax rallied 4.39% YoY to Rs 7,066.86 crore in Q3 FY24.

During the quarter, total expenses jumped 19.3% to Rs 1,041.19 crore in Q3 FY24 as compared with Rs 872.78 crore in Q3 FY23. Cost of material consumed was at Rs 741.48 crore (up 12.62% YoY) while employee benefits expenses stood at Rs 89.89 crore (up 21.65% YoY), finance cost stood at Rs 25.07 crore (up 13.9% YoY) during the quarter.

Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry.

The scrip slipped 2.65% to Rs 264.85 on the BSE.

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