Steel Strips Wheels ramp-up production with 8 per cent sales guidance
Steel Strips Wheels Limited (SSWL) resumed its productions, after all its plants became functional. The capacity of utilisation is steadily improving across the plants and it is expected to go up to 75 per cent of its pre-COVID levels of production by September 2020.
The company expects that the volume of delivery will increase strongly towards September 2020. The contribution from PV and 2/3 wheeler, is driving up the momentum of the segment sales. The business sales volume guidance is getting upwardly revised to eight per cent with an expectation of gross revenue rate of Rs 135 crore-Rs 140 crore by September 2020.
The revised volume trend from June to September 2020 provided by the company is seven lakh in June 2020, 9.5 lakh in July 2020, 1.1 million in August 2020 and 1.17 million in September 2020.
The volume supported is backed by great performance in tractors, alloy wheel segment and exports. The company expects to record an increase in exports numbers from July, given a strong trajectory in the segments. The capacity of alloy wheel is also expected to reach 80 per cent-90 per cent monthly by October-December quarter.
On June 3, 2020 SSWL had bagged firm export orders for EU and US truck trailer market of over 8,000 wheels, which is to be executed in the month of June and July, marking a beginning for order of the new quarter for this year. To know more about this, click here:
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