HOME > BUSINESS > AUTO > Steel Stripes Wheels sees 17% shipment growth in September

Steel Stripes Wheels sees 17% shipment growth in September

steelstripsSteel Stripes Wheels Ltd said it achieved a 17% growth in total rim wheel sales in September from 12.08 lacs to 10.91 Lacs of last financial year.

´The tractor and passenger segment did extremely good and are expected to tread the same path in 3rd quarter of this financial year,´ said the company.

Domestic Tractor segment volumes grew by 47%. It grew by the highest rate in this year.

Despite higher numbers, turnover declined 13% to Rs 101.33 in September 2016 from Rs 117.13 cr last year due a fall in raw material prices.

Similarly, net turnover fell to Rs 91.25 cr this year 105.26 crore in 2015, also recording a 13% contraction.

“The contraction is majorly due to the raw material price drop of close to 20% which is now applicable on 100% of the customers,” said the company.

Passenger car segment grew 16% and is expected to remain strong going into this year.

2&3 wheelers segment grew by 20% in September 2016 YoY.

´The segment also grew in high double digit with very heavy festive demand and this will continue till year end,´ said the Indian company.

Exports shipments were up 7% in September 2016 and company expects the shipments growth of 10% for the FY 16-17.

“The LCV CV & MHCV segment segment saw a volume drop this month due to the production drop for the inventory adjustment before BS-IV launch,” said the company.

SSWL designs & manufactures automotive steel wheels since 1991.

The company´s product range comprises Steel wheels for Two and Three Wheelers, Passenger cars, Multi utility vehicles, Tractors, Trucks & OTR Vehicles.

SSWL have production facilities at Punjab, Chennai and Jamshedpur.

The company´s total capacity amounts to 9 million wheels in Dappar, 6 million wheels in Oragadam and 1.6 million truck wheels in Jamshedpur amounting to a total capacity of 16.6 million wheels.

Follow ULTRA.news
Despite discounts, Rs 5,000 cr worth of BS-III vehicles unsold Vehicle worth Rs 5,000 cr with BS-III certification could not be sold by the deadline of March 31, the Society of Indian Automobile Manufacturers said today.In addition, it said, the industry sustained a loss of about Rs 1,000-1,500 cr due to the deadline, it said, adding t...
ISRO offers space tech to electric vehicle makers in India Indian Space Research Organization could soon help Indian e-bikes overcome their biggest drawbacks -- low mileage per charge and limited speed.Costing between Rs 35,000-50,000, most of these bikes have a top speed of 25 km per hour and a range of 30 to 50 km per charge.Th...
Maruti Suzuki’s Vitara Brezza sells 1.1 lakh units in first year Vitara Brezza, the sports utility vehicle from Maruti Suzuki, has sold over 1.1 lakh units in its first year, the carmaker said in an update marking one year of the car's launch.In total, around 36 lakh four-wheeled passenger vehicles are expected to be sold in India the ...
Transport vehicle drivers, staff to get coverage under ‘third party’ insurance policy The drivers and staff of all vehicles classified as 'transport' will be brought under the definition of 'third party' in third party insurance policies, the finance ministry said today.This will cover buses, vans and other commercial transport vehicles and will be implemented...
Jaguar Land Rover reports strong February 2017 sales Tata Motors reported its best ever sales performance for its UK unit for the month of February in 2017, with total retail sales up 9.3% on year for the month.Jaguar Land Rover, one of the world's top manufacturers of luxury vehicles, sold of 40,978 vehicles in the month, th...
Demonetization impact on sales is over – Bajaj Auto’s Rajiv Bajaj The impact of demonetization on the company's motorcycles and three-wheelers sales in India has worn off, Bajaj Auto CEO Rajiv Bajaj said."Sales was down 20% in the aftermath of demonetization, but now it's 0%," Bajaj said, adding that he was expecting to have grown his sal...
We need more buses, not Nanos: Union Minister What India needs are more buses and better public transport and not more cars, said Union Minister of State for Road Transport, Highways & Shipping, Mansukh L Mandaviya.Tata Motors introduced its Nano car within a price bracket of Rs 1.5 lakhs-2 lakhs for middle class...
Mahindra opens spare parts warehouse in Mahindra World City, Jaipur Mahindra & Mahindra Ltd said it opened a spare parts warehouse in Mahindra World City, Jaipur."It is one of the largest warehouses in the country and the company’s first in northern India, it will cater to the requirement of Mahindra customers in north and north western reg...
Jaguar Land Rover sales up 11% in October Tata Motors' subsidiary Jaguar Land Rover reported its best-ever October retail sales of 46,325 vehicles, up 11% compared to October 2015."The month’s performance has been driven by strong sales of the Land Rover Discovery Sport, Range Rover Evoque, Jaguar XF and the introduc...
Maruti Suzuki sees strong demand for S-Cross, Vitara Brezza in October Maruti Suzuki´s utility vehicle sales doubled in October, riding on the launch of new models like Vitara Brezza and S-Cross.The SUV (utility vehicle) sales increased 90.9 % to 18,008 vehicles in the month compared with last year.This is a continuation of the trends se...
Maruti Suzuki sells 1 lakh Baleno in India Maruti Suzuki,the country's leading passenger vehicle maker, said its premium hatchback Baleno had crossed domestic sale of one lakh units.In addition to the domestic sales, 33,800 units of the car were exported across the world including countries like Japan and Europe, said...
BMW Experience Tour hits Daman on 6-7 th October BMW experience tour will be held in Union Territory of Daman on the 6th and 7th of this month.The venue will be Hotel Miramar Lawn Grounds in Devka Beach Road , added the company.Participants will be allowed to test drive and know more in detail about the BMW models, serv...
Hero MotoCorp sets record in monthly two-wheeler sales in September Hero MotoCorp Limited, the world's largest two-wheeler manufacturer, said it clocked the highest ever two-wheelers sales in a single month as sales grew by 11% to 6.74 lakh units in September from 6.06 units last year.With this, Hero MotoCorp has sold 35.6 lakh units of two-w...
TVS Motors two-wheeler sales jump 30% in September Two-wheeler manufacturer TVS Motor Company said its sales grew by 26% during the month of September.Total sales increased to 2.93 lakh compared with 2.32 lakh for the same month the previous year.Total two-wheeler sales increased by 30.1% to 2.87 lakhs from 2.21 lakh wher...
Mahindra & Mahindra raises Rs 475 cr via debentures Automobile manufacturers Mahindra & Mahindra Ltd. said it raised Rs 475 crores via non-convertible debentures on private placement basis with a tenure of 10 years.The face value of the 7.57% debentures are Rs 10,00,000 each.Mahindra & Mahindra is an Indian multina...
Maruti Suzuki exports cross 1.5 million cars Maruti Suzuki India, the country's leading passenger vehicle maker, said it has attained cumulative exports of 15 lakh (1.5 Million) from its vehicle exports to over 100 countries including Europe, Latin America and Africa.Early this year the Company’s premium hatchback Balen...
BMW experience tour reaches Kancheepuram this weekend BMW experience tour will be held this weekend in Kancheepuram district of Tamil Nadu from 23rd to 25th of this month.The venue will be Madras Motor Race Tack on NH4  in Mevalurkuppam, added the company.Participants will be allowed to test drive and know more in detail...
M&M seen holding SUV, tractor market share despite rising competition- CRISIL Mahindra & Mahindra Ltd is likely to maintain its market position in its core SUV and tractor markets despite the entry of new competitors, ratings company Crisil said."Cost-efficient operations, development skills, broad product portfolio, and increased production ca...
Jaguar launches second generation Jaguar XF sedan in India at Rs 49.5 lakhs Jaguar Land Rover India launched the new Jaguar XF sedan in five variants starting from ₹ 49.50 lakh (ex-Delhi) in Mumbai.The new Jaguar XF is powered by the new Ingenium 2.0 l 4-cylinder turbocharged diesel engine that delivers a power output of 132 kWand is upto 20 kg l...
BP sells Rs 2,000 cr worth of Castrol India shares in open market Castrol India said its promoter Castrol Ltd sold 4.22 cr of its shares in the market through open sale today.Shares of Castrol India were up 9% at Rs 459.75 today. Castrol is a unit of UK-based BP Plc.With this, the promoter's share in the company has come down from 59.4%...
Fiem Industries raises Rs 120 cr via private placement Fiem Industries Ltd. said it raised Rs 120 crore by placing 12 lakh shares with qualified institutional buyers. The shares were priced at Rs 1002 each.Fiem manufacturers automotive lighting & signaling equipments and rear view mirrors. Most of its revenue comes from the two...
TVS launches colour variants of StaR City+ & TVS Sport TVS Motor Company, one of India’s leading two wheeler manufacturers, launched new colour variants for its two brands of motorcycles TVS StaR City+ and TVS Sport in Bangalore today.The new colour variants TVS StaR City+ in Spotlight White colour & TVS Sport in Black Silver...
Tata Motors global wholesale up 16% in August Tata Motors said its global wholesales rose 16% in August to 86,288 compared to August last year. Wholesales of all passenger vehicles rose by 25% to 56,104.Land Rover wholesales for the month were at 29,222 vehicles. Jaguar wholesales for the month were 13,038 vehicles....
BMW experience tour reaches Aurangabad this weekend BMW experience tour will be held this weekend in Aurangabad district of Maharashtra on the 10th and 11th of this month.The venue will be Hotel Manor Kranti Chowk which is opposite Rani Lakshmi Bai Park, added the company.Participants will be allowed to test drive and ...
Jaguar Land Rover reports record August sales, up 26% Tata Motors' Jaguar Land Rover (JLR) reported its best ever August retail sales of 36,926 vehicles, up 26% compared to August 2015, said the company.The month’s performance has been driven by strong sales of the Land Rover Discovery Sport, the Jaguar F-PACE and XE, JLR added....