The company's gross turnover in May 2023 was Rs 433.30 crore, up by 8% from Rs 401.07 crore in May 2022.

On the segmental front, growth was led by Exports division (up 114% YoY), followed by Alloy Wheels segment (up 12% YoY), Truck segment (up 12% YoY).

However, during the period under review, 2&3 wheelers registered a de-growth of 19% YoY. Further, tractor segment recorded negative growth of 19% as compared with the same period last year and Passenger Car segment posted negative growth of 25% YoY.

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's consolidated net profit declined 3.3% to Rs 47.29 crore on 5.5% decline in net sales to Rs 1,004.92 crore in Q4 FY23 over Q4 FY22.

Powered by Capital Market - Live News

Steel Strips Wheels announced that the Board of Directors of the Company at its meeting held on 26 May 2023, inter alia, have recommended the final dividend of Rs 1 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

Powered by Capital Market - Live News

Net profit of Steel Strips Wheels declined 3.27% to Rs 47.29 crore in the quarter ended March 2023 as against Rs 48.89 crore during the previous quarter ended March 2022. Sales declined 5.49% to Rs 1004.92 crore in the quarter ended March 2023 as against Rs 1063.26 crore during the previous quarter ended March 2022.

For the full year,net profit declined 5.68% to Rs 193.79 crore in the year ended March 2023 as against Rs 205.46 crore during the previous year ended March 2022. Sales rose 13.50% to Rs 4040.54 crore in the year ended March 2023 as against Rs 3559.95 crore during the previous year ended March 2022.

Powered by Capital Market - Live News

Steel Strips Wheels will hold a meeting of the Board of Directors of the Company on 26 May 2023.

Powered by Capital Market - Live News