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
Bharat Forge opens electric vehicle R&D center in the UK Bharat Forge is one of India's top auto parts makers Bharat Forge, India's largest exporter of auto components, said it opened a research and development facility at MIRA Technology Park in the UK to design powertrain solutions for Electric Vehicles. The powertrain refers ...
Maruti Suzuki increases car prices from today Maruti Suzuki, India's largest carmaker, said it has raised the prices of its models by Rs 1,700 to Rs 17,000. The cheapest models, such as Alto, will see the lowest increase in price and the most expensive models, such as the Vitara Brezza, will see the highest increase. T...
Tata Motors December wholesales comes in strong Land Rover Evoque The Tata Motors Group global wholesales in December 2017, including Jaguar Land Rover, rose 23% to 1.17 lakh. In November, it had risen 22% to 1.12 lakh and and by 2.7% to 1.04 lakh in October. Wholesales of commercial vehicles rose 53% in December to 47,...
Maruti Suzuki sales growth slows in December; Dzire 2017 hits Ciaz? Dzire 2017 has waiting time of several months The country’s largest car maker Maruti Suzuki India reported 10.3% increase in its auto sales for December, slightly slower than the 14.1 percent reported for November. The total sales was at 1.30 lakh units compared to 1.55 la...
Here MotorCorp to increase motorcycle prices from Jan 1 Hero MotoCorp, the world’s largest two-wheeler manufacturer, said it will increase the price of its motorcycles by an average of Rs 400 each from January 1. This is being done to "partially off-set the rising input costs," it said. However, cheaper models are likely to see...
Amara Raja inaugurates new 2-wheeler battery plant Amara Raja Batteries Ltd said it has inaugurated the first phase of its two-wheeler battery plant in Chittoor with a capacity of 5 mln units per year. Before this, the company had a capacity of only 12 mln two-wheeler batteries per year. The new plant will have an ultimate...
Stubble Burning: 1,493 Haryana farmers fined Rs 40 lakh Around 1,500 farmers from Haryana have been fined a total of Rs 39.85 lakh for burning agricultural stubble between July to October this year, the government said. The action was taken to dissuade farmers from burning agricultural waste. Burning of agricultural waste has been b...
Tata Motors reports strong wholesale numbers for November vs October The Tata Motors Group global wholesales in November 2017, including Jaguar Land Rover, rose 22% to 1.12 lakh. In October, it had risen 2.7% to 1.04 lakh and by 14% in September to 1,16,419. Wholesales of commercial vehicles rose 51% to 40,845. In October, it had risen 1.3% to...
Land Rover sales up 17%, Jaguar down 6% in November – Tata Motors Jaguar Land Rover said its retail sales in November rose 10% on year to 52,332 vehicles, driven primarily by the introduction of the new Land Rover Discovery and the Range Rover Velar. Out of these, Jaguar sales were 13,688 vehicles, down 6.3% compared to the same month ...
Steel Strips Wheels to supply 6,000 truck wheels to EU customer Automotive wheel maker Steel Strips Wheels said it won a contract to supply 6,000 truck wheels to a European customer for use on trailers. "Steel Strips Wheels has already marked its entry into the high potential truck and trailer market in EU and aims to strengthen it in the...
Tata Motors’ JLR retail sales flat in October as UK, US markets slow Tata Motors said its overseas subsidiary Jaguar Land Rover saw retail sales grow 0.2% in October to 46,418 vehicles. Jaguar retail sales were down 14.3% to 12,336 vehicles in October, primarily reflecting lower sales of the Jaguar XE, said Tata Motors. Land Rover retailed ...
Bajaj Auto India motorcycle sales down 1% in October Bajaj Auto said sales of motorcycles in India fell 1% in the festival month of October. However, a timely growth of 20% in exports of motorcycles helped the company report a 6% growth in overall motorcycle sales during the month. Total motorcycles sold in India was 2.12 lak...
TVS Motor India 2-wheeler sales down, but exports grow TVS Motor Company reported a sales growth of 3% for its two- and three-wheeler sales in October. TWO WHEELERS Scooter sales grew by 15.7% to 106,910 units in October 2017. Motorcycles sales grew by 3.2% to 125,409 units in October 2017. However, the growth came larg...
Tata Motors’ pick-ups drive 5% increase in October sales Tata Motors Limited said it saw a 5% increase in the number of vehicles sold in India during October, driven by the commercial vehicle segment. Total sales were at 48,886 units. However, most of the growth came from light CVs and pick-ups. Both commercial and personal pass...
Royal Enfield Bullet sales up 18% in October 2017 Eicher Motors said it sold 69,492 Royal Enfield Bullet motorcycles in October 2017, up 18% compared to the same month last year. However, the number represented a slight decline in the pace at which the company's sales have been growing this year. For example, from April t...
Maruti Suzuki Dzire 2017 becomes fastest selling car in India Maruti Suzuki said it sold 1 lakh units of the 2017 Dzire sedan in just five-and-a-half months after it was released, making it the first car ever to do so. Dzire, built over the Swift platform, was initially targeted at those who wanted a roomy sedan with a dicky instead of ...
Tata Motors wholesales up 14% in Sept, Passenger up 10% The Tata Motors said group global wholesale rose 14% in September to 1,16,419, including numbers for Jaguar Land Rover. Commercial vehicle wholesales, including Tata Daewoo, rose 20% to 41,503. Global wholesales of all passenger vehicles in September 2017 were at 74,916, h...
TVS two-wheeler sales rise 22% to 3.5 lakh in September TVS Motor Company reported one of the strongest increases in its sales in its history, partly due to the compensatory effect of GST-related troubles in the previous month. Total two-wheeler sales registered a growth of 22.1% with sales increasing from 287,449 units last year ...
Maruti Suzuki WagonR becomes only third car to see 20 lakh sales WagonR, which was India's 'big' small car for over a decade, has become the third car to cross the 2 mln sales milestone, Maruti Suzuki said. Launched in 1999, WagonR and Hyundai's Santro were the most affordable cars after Maruti 800 and Alto, which ruled as the mass models....
Booking starts for new model 2017 Maruti Suzuki S-Cross 2017 S-Cross Maruti Suzuki, India's largest car maker, has started taking orders for the 2017 variant of S-Cross, its 'crossover' SUV. Booking can be done for an initial payment of Rs 11,000 at any of its 280 NEXA showrooms, or by logging on to nexaexperience.com. The c...