SSWL achieved July 2020 total wheel rim sales of 9.25 Lacs Vs 12.59 Lacs in July 2019 representing a de-growth of 27% YoY. SSWL expects to maintain good MoM uptrend to come to Pre-Covid levels by September 2020.
SSWL has achieved gross turnover of Rs 132.75 Crs in July 2020 V182.52 Crs in July 2019, there by recording a de-growth of 27% and achieved Net turnover of Rs.110.35 Crs in July 2020 Vs Rs.154.50 Crs in July 2019, recording a de-growth of 29%.
Alloy Wheel Segment reported its highest Volume sale every for July 2020. Mehsana plant is expected to run at 90% utilization in August 2020 onwards.
Tractor segment remained at almost 100% utilization pace and near all-time high historic trends.
Segment wise Breakup of growth
|Segment||July Growth (YoY)||July Growth (MoM)|
|2 & 3 Wheelers||-68%||403%|
Exports Segment volume fell by 3%. The export segment maintained a good pull back from Covid levels and have reach close the pre Covid levels and we expect this to trend up and maintain 25% growth going ahead for FY 20-21. The July Month fell short for the dispatches due to Covid Related delays at the shipping ports towards Export Logistics and we expect the Month of August to report improvement trend as Export order book is at its highest level for company. And we are confident of delivering 25% Volume growth for this financial year.
In fact, July sales fell short by 50k numbers due to Covid linked exigencies. However, August numbers will take care of this shortfall.
Tractor volumes rose by 15% in July 2020 YoY. The tractor segment maintained momentum in July with bumper harvest and again a good monsoon season expected ahead will maintain healthy run rate of production demand. The segment is running very close to it all time high rate for the company.
Passenger car segment volumes fell 13% in July 2020 YoY. The PV volumes saw a decent recovery MoM and is trying to prepare for the festive rush. The segment report YoY Drop of 13% with expectation of further improvement in volumes in coming months and we expect to reach close to pre Covid levels by End of Q2 2020.
2 & 3 Wheelers Segment fell 68%. The 2/3 wheeler segment continued its volume trend with a lot of baggage coming from old inventory which is still getting cleared and expectation of new production push is expected towards Q3 2020.
Commercial Vehicles segment volumes fell by 53% YoY in July 2020. The CV makers are still facing lockdown economy as a big bottleneck for the segment and are still report very high double digit drop in sales. The trend is expected to improve MoM but the segment may continue to remain under pressure for some more time to come.