SSWL achieved total wheel rim sales of 12.38 Lacs Vs 12.93 Lacs in August 2017 representing a drop of 4% YoY volume due to highest sale volume base of last year in the same month. The volumes of truck and tractor segment helped post highest healthy revenue growth for the company.
In terms of Value, the company has achieved gross turnover of Rs 153.56 Crs in August 2017 Vs 116.41 Crs in August 2016, there by recording a growth of 32% and achieved Net turnover of Rs.124.10 Crs in August 2017 Vs Rs. 104.77 Crs in August 2016, recording a growth of 19%.
The rise in turnover is mainly driven by very good growth in truck and tractor segment and we expect this trend to continue to make this quarter a record sales quarter for the company. The order pipeline of tractor and truck segment is very strong and we expect the first mass production from our chennai truck plant to start in the month of September 2017.
Segment wise Breakup of growth
|Segment||August Growth (YoY)|
|2 & 3 Wheelers||-14%|
Passenger car segment volumes fell by 3% in August 2017 YoY. The PV volumes fell by 3% due to abnormally high base of last year, with august 2016 being the highest sales month of last financial year. The festive season rush will help SSWL maintain the pace of good growth in PV segment.
Tractor volumes grew by 18% in August 2017 YoY. The tractor segment saw continued robust growth in volumes and we expect to go to 20% volume growth in Q2 with the final push coming due to festive season pulling the volumes higher.
LCV & MHCV segment volumes grew by 30% YoY in August 2017. The CV segment saw a strong growth in August 2017 despite heavy rainfall across the country. We expect there will be sharper uptick post monsoon season. Q2 growth is expected to more than 50% YoY.
2&3 wheelers segment fell by 14% in August 2017 YoY. This segment saw inventory adjustment due to implementation of GST transit policy. The shipments will improve from September onwards for a high single digit growth.
Exports volumes dropped by 28% in August 2017. Exports shipments were down 28% in August 2017. The exports fell due to ongoing holiday season starting in European region and will resume normal operations from September 2017 once holidays gets over in EU segment.