Steel Strips Wheels Ltd Share Price – NSE /  BSE

Auto Ancillaries, Small Cap

Steel Strips Wheels announced that the Annual General Meeting (AGM) of the company will be held on 30 September 2024.

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Net profit of Steel Strips Wheels declined 13.92% to Rs 40.81 crore in the quarter ended June 2024 as against Rs 47.41 crore during the previous quarter ended June 2023. Sales declined 1.83% to Rs 1025.29 crore in the quarter ended June 2024 as against Rs 1044.40 crore during the previous quarter ended June 2023.

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Steel Strips Wheels will hold a meeting of the Board of Directors of the Company on 23 July 2024.

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The company's gross turnover grew by 1.15% to Rs 434.21 crore in June 2024 from Rs 429.26 crore in June 2023.

In value terms, the 2&3 wheeler segment climbed 87% YoY and Tractor segment jumped 20% YoY. On the other hand, Passenger Car -Alloy segment fell 4% YoY, Passenger Car- Steel segment slipped 12% YoY, Truck segment shed 1% YoY and Exports segment slipped 25% YoY in June 2024.

In volume terms, the 2&3 wheeler segment surged 99% YoY, followed by Tractor segment (up 20% YoY) while Truck segment remains constant on YoY basis. However, Passenger Car-Alloy segment (down 5% YoY), Passenger Car- Steel segment (down 5% YoY), and Exports (down 16% YoY) during the period under review.

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.

Steel Strips Wheels (SSWL) reported a consolidated net profit of Rs 515.56 crore in Q4 FY24, steeply higher than RS 47.29 crore posted in Q4 FY23. Revenue from operations stood at Rs 1,068.67 crore in Q4 FY24, up 6.34% from Rs 1,004.92 crore recorded in the same period previous year.

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