SSWL achieved September 2019 total wheel rim sales of 11.75 Lacs Vs 14.59 Lacs in September 2018 representing a de-growth of 19% YoY. The number is lower due to the fact that September was the highest sale figure for SSWL ever. If we see the MoM numbers, the MoM growth in volumes in September is 10%. We expect this MoM improvement sustaining going ahead.
SSWL has achieved gross turnover of Rs 139.89 Crs in September 2019 Vs 234.48 Crs in September 2018, there by recording a de-growth of 40% and achieved Net turnover of Rs.115.71 Crs in September 2019 Vs Rs.191.78 Crs in September 2018, recording a de-growth of 40%. The Highest Ever Base effect of September 2019 is the main reason for larger drop. There is a MoM improvement of 10% MoM in September 2019.
Segment wise Breakup of growth
|Segment||September Growth (YoY)|
|2 & 3 Wheelers||-10%|
Passenger car segment volumes fell 16% in September 2019 YoY. The PV volumes were down 19% with inventory rationalization by all car makers. The MoM improvement gives hope ahead of festive season that inventory dilution will continue.
Exports Segment rose by 8%. The segment continued to witness growth in September 2019 with SSWL targeting all major presence in US markets by the end of calendar year 19-20.
Tractor volumes fell by 6% in September 2019 YoY. The tractor segment saw a drop in volumes YoY with heavy rains impacting the sales but the MoM trends are extremely encouraging and the MoM growth was close to 20%in tractor segment.
2 & 3 Wheelers Segment fell 10%. The segment is improving and the inventory levels at scooter makers have fallen steadily and are not very far off the standard levels which we expect to be attained by the end of this festive season.
Commercial Vehicles segment volumes fell by 75% YoY in September 2019. The CV makers continue to cut production steeply to cut the dealer end inventory and the momentum in this direction is increasing with BS-6 deadline coming near. We expect the CV segment production side to be muted with full focus on End sales to dilute high inventory levels.