This S&P BSE Smallcap Stock Jumped 3.6% on Tuesday within the first hour of markets opening after reporting a 457% increase in exports volume. The company has a market cap of Rs. 4,468 crore and is 3% away from its 52 week high, trading at Rs. 286.40 versus Rs. 277.85 at closing on Friday.
The stock is seeing volumes that are 0.6x the monthly average, trading 6% and 55% respectively above its 20 day and 200 day moving averages.
In a filing dated 3rd October 2023, Steel Strips Wheels Ltd (“SSWL”) announced that it has achieved its highest ever monthly Net turnover of Rs. 401.88 crore in September 2023, up from Rs.359.78 crore in September 2022, recording a growth of 11.70 % % YoY and also stated it achieved gross turnover of 486.99 crore versus Gross turnover of Rs 445.42 crore in September 2022, there by recording a growth of 9.33 % YoY
Breakup of the above performance is as follows: Exports volume growth of 457% YoY, value growth of 183% YoY; Trucks volume growth of 44% YoY, value growth of 29% YoY; 2 and 3 Wheelers volume growth of 19% YoY, value growth of 32% YoY; Passenger Car – Steel volume growth of 14% YoY, value growth of 22% YoY; Passenger car – Alloy volume growth of 4% YoY, value degrowth of 4% YoY; volume growth of 0% YoY, value degrowth of 12% YoY
SSWL engages in the design, manufacturing, and sale of automotive wheels in India and internationally. The company’s shareholding comprises 63% promoter holding of which 14% are pledged, 6% FII holding, 1% DII holding and the rest being held by the public. The stock has returned 545% in the last three year period and 81% YTD.
Written by Sandeep R
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