SSWL is enthused to announce that in February 2016, SSWL achieved total wheel rim sales of 11.84 Lacs Vs 10.59 Lacs in February 2015 representing a 12% YoY growth.
Company registers in highest monthly volume sale in February and will achieve highest ever quarterly sale in Q4.
Company will register its highest quarterly exports sales in Q4 FY15-16 led by surge in demand from European customers.
JLR shipments will start in March 2016 and will support healthy growth in exports volumes in FY 16-17.
SSWL is aiming to achieve an annual volume of 15mn wheels in FY 16-17 indicating a volume growth of 15% and taking the capacity utilization to 90% across all three plants.
In terms of Value, the company has achieved gross turnover of Rs 116.77 Crs in February 2016 Vs 110.45 Crs in February 2015, there by recording growth of 6% and achieved Net turnover of Rs. 105.30 Crs in February 2016 Vs Rs. 99.73 Crs in February 2015, recording a growth of 6%. The sales values are not strictly comparable due to RM reduction impact of 20% in Dec-15 else the sales value would have been higher than reported above.
Segment wise Breakup of growth
|Segment||February Growth (YoY)|
Passenger car segment grew 5% in February 2016 YoY. The PV segment grew by 5% YoY on a higher base and we expect the trend to continue with PV segment growth peged at close to 8%
Exports grew 14% in February 2016. Exports orders from European region gave a push to sales and we expect robust demand to continue for export segment. JLR new business volumes will start in March 2016 and will aid to volume growth.
LCV & MHCV segment volumes grew by 33% YoY in February 2016. The CV segment is continuing its vibrant growth and we are very confident that we will maintain the high growth momentum in the FY 16-17.
Domestic Tractor segment volumes grew by 6% in February 2016 YoY. The tractor segment saw modest growth of 6% and we expect the trend to be flat to small growth going ahead into FY 16-17.