Steel Strips Wheels Q4 Review - Stellar Performance Led By Exports, Aluminium Alloy Wheels: Axis Securities
Finished steel wheels (Photographer: Vincent Mundy/Bloomberg)

Steel Strips Wheels Q4 Review - Stellar Performance Led By Exports, Aluminium Alloy Wheels: Axis Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Axis Securities Report

Steel Strip Wheels Ltd. reported better than expected performance in Q4 FY21 led mainly by the strong improvement in alloy wheels and exports.

The company produced 4.02 lakh aluminium-alloy wheels for Q4 FY21.

For FY21, alloy wheels volumes were up 246% to 0.11crore wheel rims, while revenue also shot up 235% to Rs 338 crore.

Alloy wheels contributed ~23% of the revenue share in Q4 FY21 and 22% in FY21 (versus just 7% in FY20).

Being a high margin product compared to steel wheels, alloy wheels helped the company expand Ebitda margins by 418 basis points (YoY) to 12.3%.

Click on the attachment to read the full report:

Axis Securiteis Steel Strips -Q4FY21-ResultUpdate.pdf

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