SSWL is enthused to announce that in July 2016, SSWL achieved total wheel rim sales of 12.63Lacs Vs 11.65 Lacs in July 2015 representing a 8.4% YoY growth. The company expects to clock record second quarter to reach 38.00Lac wheels Vs 33.68Lac wheels indicating close to 13% volume growth for Q2.
In terms of Value, the company has achieved gross turnover of Rs 114.41Crs in July 2016 Vs 122.27Crs in July 2015, there by recording de-growth of 6% and achieved Net turnover of Rs.103.12Crs in July 2016 Vs Rs. 110.05Crs in July 2015, recording a de-growth of 6% the RM drop of close to 20% is now settled with all the customers are this is the main reason behind the revenue drop. Negating the impact of Raw material the sales value would have gained 15%.
Segment wise Breakup of growth
|Segment||July Growth (YoY)|
|2 & 3 Wheelers||35%|
Passenger car segment grew 10% in July 2016 YoY. The PV segment grew by 3% YoY and is continuing a market trend rate. The Q2 will be good for the company with all its models now on the ramp up stage. We can expect good high single digit growth. We expect high single digit growth in passenger car segment going ahead in FY 16-17.
LCV & MHCV segment volumes dropped by 7% YoY in July 2016. The CV segment saw a volume drop in this month due to excessive rains in some parts impacting the truck sales. The rains will have its impact in the month of august as well. We expect the sharp pickup coming in from September 2016 and we still maintain the 20% plus growth for the FY 16-17.
Recently the company gained major market share with a major CV makers and the due impact will be seen in August onwards sales pattern. The market share increase will have a permanent impact for SSWL to make it the market leader in CV segment.
2&3 wheelers segment grew by 35% in July 2016 YoY and we expect this to continue with new pay commission payout starting in august, helping the 2&3 wheeler segment. The trend will be very good for this year and we can expect to maintain high double digit growth in this segment.
Domestic Tractor segment volumes grew by 9% in July 2016 YoY. The tractor segment was good sales growth and we expect to have a good tractor wheel sale season on the back of good overall rains in the country
Exports volumes remained flat in July 2016. Exports shipments remained flat in July 2016 and we expect the shipments to grow at 10% plus for the FY 16-17.