Buzzing stock: SSWL surges approximately 61 per cent in just 2 weeks

The stock of Steel Strips Wheels Ltd (SSWL) has given approximately 61 per cent returns to the investors in the last two weeks. On a YTD basis, it has given a stellar return of nearly 167 per cent.  

For the quarter ending June 2021, the company has delivered strong numbers. Its standalone revenue for Q1FY22 came in at Rs 678.12 crore as against Rs 120.26 crore in Q1FY21, registering a 463.9 per cent YoY increase. EBITDA grew by 4,095.3 per cent YoY to Rs 97.75 crore as against Rs 2.33 crore in the corresponding quarter last year, with a corresponding margin expansion of 1248 bps. EBITDA margin for the quarter stood at 14.4 per cent. PAT for the quarter came in at Rs 51.08 crore as against the net loss of Rs 38.09 crore in the corresponding quarter last year.  

Steel Strips Wheels Ltd’s promoters along with the persons acting in concert hold 97,97,402 equity shares in the company, which is 62.77 per cent of the total paid-up capital of the company. Out of this, 32,85,347 equity shares were pledged, which is 21.05 per cent of total paid-up capital of the company and 33.53 per cent of the total promoter shareholding.  

On July 14, 2021, 58,000 shares were released from the pledge and accordingly, now the number of shares pledged has been reduced to 32,27,347, which is 20.68 per cent of the total paid-up capital of the company and 32.94 per cent of the total promoter shareholding.  

On Thursday, the stock of SSWL had a gap-up opening of 1.6 per cent at Rs 1,299.90 from its previous close of Rs 1,279.50 on BSE.