SSWL achieved November 2019 total wheel rim sales of 12.52 Lacs Vs 12.78 Lacs in November 2018 representing a de-growth of 2% YoY. The MoM growth in November 2019 was 19% and we expect the momentum will continue based on Good exports and Mehsana alloy wheel segment contribution.
SSWL has achieved gross turnover of Rs 151.88 Crs in November 2019 Vs 204.52 Crs in November 2018, there by recording a de-growth of 26% and achieved Net turnover of Rs.125.46 Crs in November 2019 Vs Rs.172.52 Crs in November 2018, recording a de-growth of 27%.The revenue also saw a very good MoM improvement of 20% and we see the revenue number further catching up pace with more contribution coming from Mehsana Plant going ahead into balance period of the Financial year.
Segment wise Breakup of growth
|Segment||November Growth (YoY)|
|2 & 3 Wheelers||+9%|
Passenger car segment volumes rose 13% in November 2019 YoY. The PV volumes saw a rebound based on good production post the festive sales push for the car segment. The festive discounts cleared a major part of old inventory and the norms at dealer end eased up in October. The recent trends shown by car makers indicate the production trend to be intact for coming months based on BS VI pre-buying spurred by good discounts.
2 & 3 Wheelers Segment rose 9%. The segment saw growth based on heavy inventory clearance in October and saw a good upswing in demand. The growth got depressed a little bit with some production haultage at one of the customer due to technical reason and we expect that to pick up in December.
Exports Segment fell by 8%. The export segment is depressed with holiday seasonality and is expected to hit further record numbers starting Jan onwards with all recent development getting converted to Mass production. Q4 can be record quarter for export segment in terms of dispatches and we expect very good next financial year backed by overall very good development pipe converting to revenue stream.
Tractor volumes fell by 16% in November 2019 YoY. The tractor segment saw a drop in volumes YoY with yearend seasonality playing the trend. The trend will regain the strength from January mid as the procurement season will gain strength and the segment will show improvement going into Q4.
Commercial Vehicles segment volumes fell by 59 YoY in November 2019. The CV makers continue to cut production steeply in line with BS-VI roll out but the intensity of decline improved and we saw some recovery in production cuts. The scrappage policy is in final stages and is expected to come and get implemented in Q4. This will help arrest some of the decline in the segment based on fina cial incentive for the segment.