Steel Strips Wheels (SSWL) has reported a surge of 3.5% in its total wheel rim sales of 11.66 lakh compared to 11.28 lakh in January 2016. The impact of demonetization is healing and the month-on-month improvement in sales is indicating that by end of this quarter all should normalize.
In terms of value, the company has achieved gross turnover of Rs 119.66 crore in January 2017 compared to Rs 112.96 crore in January 2016, there by recording growth of 6% and achieved net turnover of Rs 107.65 crore in January 2017 compared to Rs 101.81 crore in January 2016, recording a growth of 6%.
SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches 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.