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