SSWL achieved total wheel rim sales of 12.68 Lacs Vs 12.25 Lacs in March 2017 representing a YoY growth of 3.5%. The growth was largely driven by 2-digit growth in most profitable commercial vehicles & tractor segment wheels. The company foresees a favorable impact on the overall profitability for this month based on the growth in most profitable segments. For the FY 16-17, SSWL witnessed 10% volume growth, in line with the guidance given at the beginning of the year.
Jamshedpur plant (commercial wheel plant) recorded its highest production and sale in March 2017 and it operated at 110% utilization in March 2017.
Chennai Plant recorded its highest production and sale in march 2017 and operated at highest Capacity utilization 85% in March 2017.
In terms of Value, the company has achieved gross turnover of Rs 143.45 Crs in March 2017 Vs 127.48 Crs in March 2016, there by recording growth of 13% and achieved Net turnover of Rs.126.55 Crs in March 2017 Vs Rs. 115.08 Crs in March 2016, recording a growth of 10%.
Segment wise Breakup of growth
|Segment||March Growth (YoY)|
|2 & 3 Wheelers||-2%|
Passenger car segment grew 8% in March 2017 YoY. The PV segment grew by 8% with healthy growth coming from all corners. We expect high single digit growth continuing in this segment in the next financial year also.
LCV & MHCV segment volumes grew by 12% YoY in March 2017. The CV segment saw record sales in March 2017 and the segment grew all around customers on the back of BS-III migration. The segment will ensure healthy contribution to monthly profitability in March 2017.
Domestic Tractor segment volumes grew by 12% in March 2017 YoY. The tractor segment saw robust growth in March 2017 with presale starting to happen before the monsoon arrival. We expect the Q1 of FY 17-18 to be in line with March 2017 in anticipation of normal monsoon.
2&3 wheelers segment de-grew by 2% in March 2017 YoY. This segment saw large improvement MoM post demonetization and as expected the normalization will return to the segment in new financial year. The growth can easily return to 10-12% in next financial year.
Exports volumes dropped by 27% in March 2017. Exports shipments were down 27% in March 2017 due to very high base of last year where we recorded highest exports in March 2016.