SSWL registers 6% turnover growth in January led favourable product mix of truck & tractor wheels.
SSWL achieved total wheel rim sales of 11.66 Lacs in January 2017 Vs 11.28 Lacs in January 2016 representing a YoY growth of 3.5%. The impact of demonetization is healing and the MoM improvement in sales is indicating that by the end of this quarter all should normalize.
Jamshedpur plant (commercial wheel plant) to operate at 100% utilization in Q4 to cater the very high demand.
In terms of Value, the company has achieved gross turnover of Rs 119.66 Crs in January 2017 Vs 112.96 Crs in January 2016, there by recording growth of 6% and achieved Net turnover of Rs.107.65 Crs in January 2017 Vs Rs. 101.81 Crs in January 2016, recording a growth of 6%.
Segment wise Breakup of growth
| Segment | January Growth (YoY) |
| Passenger Car | +13% |
| 2 & 3 Wheelers | -12% |
| Tractor | +19% |
| Truck | +15% |
| Exports | -12% |
| Overall | +3.5% |
Passenger car segment grew 13% in January 2017 YoY. The PV segment grew by 13% despite the pressure of demonetization and we expect this trend to improve with industry coming to normalcy post the demonetization move. This high volume growth is an indicator of increasing market penetration by SSWL.
LCV & MHCV segment volumes grew by 15% YoY in January 2017. The CV segment saw a growth despite the cash crunch and we expect the infrastructure theme to work for the segment. The pipe line for next 2 months is extremely strong on the back of pre sales before the FY 16-17 ends. We expect the sales growth to be higher than 25% and the Jamshedpur plant capacity utilization of close to 100%.
Domestic Tractor segment volumes grew by 19% in January 2017 YoY. The tractor segment saw growth of 19%and we expect this trend to continue in this quarter.
2&3 wheelers segment de-grew by 12% in January 2017 YoY. This segment saw improvement MoM and the situation is improving by each passing month. We expect the normal levels of dispatches by March 2017.
Exports volumes dropped by 12% in January 2017. Exports shipments were down 12% in January 2017 due to very high base of last year and it will normalize going ahead with many new exports orders starting from the month of January 2017. The company is on the target to achieve the 1.45Mn volume target projected for the year