SSWL soars on reporting 10% growth in net turnover in February
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Steel Strips Wheels is currently trading at Rs. 151.85, up by 1.15 points or 0.76% from its previous closing of Rs. 150.70 on the BSE.
The scrip opened at Rs. 149.80 and has touched a high and low of Rs. 152.00 and Rs. 148.80 respectively. So far 8100 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 189.69 on 07-Apr-2022 and a 52 week low of Rs. 126.20 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 157.35 and Rs. 146.50 respectively. The current market cap of the company is Rs. 2356.31 crore.
The promoters holding in the company stood at 62.60%, while Institutions and Non-Institutions held 6.26% and 31.15% respectively.
Steel Strips Wheels (SSWL) has achieved net turnover of Rs 350.40 crore in February 2023 as compared to Rs 317.72 crore in February 2022, recording a growth of 10.29% year-on-year (Y-o-Y) and achieved Gross turnover of Rs 432.21 crore in February 2023 as against Rs 390.97 crore in February 2022, thereby recording a growth of 10.54% Y-o-Y. However, the company’s exports declined 26% in February 2023 on Y-o-Y basis.
SSWL is engaged in the manufacturing of single piece steel wheel rims 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.
