NEW DELHI, Jan 4: Auto component manufacturer Steel Strips Wheels is targeting to achieve sales volume of 35.6 lakh units in the current quarter, a growth of 7 per cent as compared to the third quarter.
“For the fourth quarter, we will target to achieve a volume sale of 35.6 lakh as compared to 33.24 lakh achieved in third quarter of the current fiscal, representing a growth of 7 per cent,” Steel Strips Wheels Ltd (SSWL) said in a regulatory filing.
The volume growth is being primarily driven by passenger cars, tractors and truck segments, it added.
“The CV segment is witnessing very good demand for fourth quarter and will surely negate the demonetisation impact. The portfolio growth of heavier wheels is getting into high double digit and will surely give its impact on the financial performance of the company in the fourth quarter,” it said.
SSWL designs and manufacture automotive steel wheels since 1991 and is among the leading supplier to Indian and global automobile manufacturers.
The company has three production facilities — Dappar (Punjab) and Oragadam (near Chennai) and Jamshedpur (Jharkhand).