SSWL has achieved gross turnover of Rs 197.22 Crs in April 2019 Vs 211.79 Crs in April 2018, there by recording a de-growth of 7% and achieved Net turnover of Rs.161.07 Crs in April 2019 Vs Rs.158.81 Crs in April 2018, recording a growth of 1%.
SSWL achieved April 2019 total wheel rim sales of 11.99 Lacs Vs 12.82 Lacs in April 2018 representing a de-growth of 7% YoY.
Below Table Is indicating the recovery in the volume trends for SSWL with May 2019-July Indicative numbers already available with SSWL shows steady improvement in volumes and expected to ramp up further into Q2 onwards. We expect a lot of momentum getting added from the exports side with penetration increasing in Europe and US getting added to portfolio in major addition to volumes in this financial Year.
Segment wise Breakup of growth
|Segment||April Growth (YoY)|
|2 & 3 Wheelers||-21%|
Passenger car segment volumes fell 5% in April 2019 YoY. The PV volumes were down 5% and this is much better than the industry sales figures where inventory clearance push is being done by maintaining production cuts. The industry is limping back to its MoM improvement by managing higher inventory cuts each month and we expect the numbers to improve each month going into positive side from June onwards.
Exports Segment rose by 67%. The segment saw a robust growth in April 2019 with SSWL managing the caravan wheel segment penetration and we also expect a lot of push coming from the US shores soon to add more momentum to exports.
Tractor volumes grew by 3% in April 2019 YoY. The tractor segment growth was driven by pre monsoon sales and we expect the normal monsoon to be in the country and the segment maintain 7-9% sales growth in first half of FY 19-20.
2 & 3 Wheelers Segment fell by 21%.The sales are still impacted by large scale cut back in production due to inventory correction. The inventory correction all major 2&3wheeler players is still underway and we expect this to continue for 2 more months to come to normalcy. Each month start February we are witnessing improvement in Sales figure indicating Inventory is coming down at dealer end and production is not moving towards improved base.
Commercial Vehicles segment volumes fell by 23% YoY in April 2019.The CV segment saw sales drop with inventory correction going on at dealer end. The pre purchase lift in sales is expected to start coming from Q2 and production ramp up is being indicated by Major OEMs to encash sales. Q2 & Q3 are expected to make peak for CV segment sales post indications coming from CV makers and we expect this push to be getting into Q4 also due to BS-4 to BS-6 changeover.
Alloy Wheel segment sales were at 21284 wheels in April 2019. With 2 more programs ramping up in Q1, we expect these volumes to add value addition to the financial performance and we expect to attain 60% capacity utilization by Q3 of FY 19-20.