Steel Strips Wheels posts 33.8% sales growth in June

Mumbai : Chandigarh-based Steel Strips Wheels posted 33.8% rise in wheel rims sales at 8.57 lakh units in June this year as compared to 6.41 lakh units in the corresponding month of the previous year. Total production of wheel rims, however, surged 39.5% to 9.07 lakh units in June this year as compared to 6.50 lakh units in the same month last year. In case strike in Maruti Suzuki India, one of the main customers of the company, had not taken place, the company could have achieved growth in sale by 40% instead of 33.8% and sale would have been 9.12 lakh wheel rims, which would have been SSWL’s highest sale, the company clarified in a BSE filing.

The company achieved the highest ever export sales of 136,299 wheel rims during June 2011 as against 74,798 wheel rims in the same month of the previous year, witnessing thereby a growth of 82.2%. The Chennai plant of the company had its highest sale and production at 2.50 lakh wheel rims in June 2011.