Steel Strips Wheels share price added over 3 percent intraday on April 1 after the company achieved the highest-ever wheel rim sales.
".... achieved highest ever wheel rim sales of 16.73 lakh in March 2021 versus 7.88 lakh in March 2020 representing a growth of 112.44% YoY," the company said in a release.
"The company has achieved gross turnover of Rs 307.38 crore in March 2021 versus Rs 102.28 crore in March 2020, thereby recording a growth of 200.52% YoY. It achieved net turnover of Rs 253.29 crore in March 2021 versus Rs 84.73 crore in March 2020, recording a growth of 798.92%," it added.
The exports segment volume rose 221 percent YoY.
The company expect the export segment to grow by double-digits in the coming months and hopes that the upward growth in the PV segment will continue in FY22 as well.
It also expects the commercial vehicles segment to witness momentum going ahead in FY21-22 with scrappage policy now in place.
At 11:57 hrs, Steel Strips Wheels was quoting at Rs 715.45, up Rs 14.50, or 2.07 percent on the BSE.
The share touched a 52-week high of Rs 776.10 and a 52-week low of Rs 317.35 on 10 March 2021 and 20 May 2020, respectively.
Currently, it is trading 7.81 percent below its 52-week high and 125.45 percent above its 52-week low.
The share price rose 102 percent in the last one year.
Source:moneycontrol.com