Sales of Steel Strip Wheels decline 14.43% in September

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Sales of Steel Strip Wheels decline 14.43% in September

Steel Strips Wheels Ltd, a leading manufacturer of automotive wheels, today said its sales have fallen 14.43% in September to 7.53 lakh rims.

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Steel Strips Wheels , a leading manufacturer of automotive wheels, today said its sales have fallen 14.43% in September to 7.53 lakh rims.

The company had reported a sales figure of 8.80 lakh during the same period of last year.

Its production also declined by little over 13% to 7.53 lakh rims vis-a-vis 8.66 lakh rims of last September, the company said in a filing to the Bombay Stock Exchange.

It achieved a growth of 262% in sale of truck wheels and 50% growth in sales of tractor wheel rims. But, sales of car wheel rims -- the mainstay of the company--registered a decline of over 20% in September.

The company achieved exports growth of over 57% at 1,23,020 rims during the month, as compared to 77,901 rims during the corresponding period of last year.

Its scrip was trading at about Rs 215 on the Bombay Stock Exchange at 1430 hours, down 0.85%.