Steel Strips Wheels Limited has announced its consolidated financial results for the third quarter ended December 31, 2024, showcasing steady operational performance amidst industry challenges.
Revenue from Operations:
- Q3 FY25: ₹1,074.68 crore
- QoQ: Decreased by 2.2% (from ₹1,095.10 crore in Q2 FY25)
- YoY: Decreased by 3.3% (from ₹1,111.03 crore in Q3 FY24)
- Nine-Month Performance (April – December 2024): ₹3,195.07 crore
- YoY: Declined by 3.2% (from ₹3,288.42 crore in the same period last year).
Other Key Financial Highlights (₹ in Crores):
- Total Income:
- Q3 FY25: ₹1,075.04 crore
- QoQ: Decreased by 2.0% (₹1,095.59 crore in Q2 FY25)
- YoY: Decreased by 3.2% (₹1,111.99 crore in Q3 FY24)
- Profit Before Tax (PBT):
- Q3 FY25: ₹64.35 crore
- QoQ: Increased by 4.0% (₹61.92 crore in Q2 FY25)
- YoY: Decreased by 9.3% (₹70.66 crore in Q3 FY24)
- Net Profit:
- Q3 FY25: ₹47.71 crore
- QoQ: Increased by 3.5% (₹46.10 crore in Q2 FY25)
- YoY: Decreased by 19.6% (₹59.41 crore in Q3 FY24)
- Expenses:
- Total expenses stood at ₹1,010.53 crore in Q3 FY25, compared to ₹1,033.75 crore in Q2 FY25 and ₹1,041.19 crore in Q3 FY24.
- Notable changes include a reduction in material costs and inventory adjustments.
Operational Insights:
- Alloy Wheel Volumes: Grew by 10.7% in Q3 FY25, contributing to strong operational performance.
- EBITDA: Stood at ₹121 crore for Q3 FY25, with a margin of 11.2%. The EBITDA margin reflects strong operational efficiency.
- Exports: Achieved ₹404 crore in exports for the nine-month period, with expectations of accelerated growth in Q4 due to favorable geopolitical conditions.
- New Product Launches: The company commenced mass production of aluminum knuckles during the quarter, enhancing product diversification.
Nine-Month Performance (April – December 2024):
- Total Income: ₹3,197.22 crore, compared to ₹3,297.28 crore in the same period last year, reflecting a marginal decline.
- Net Profit: ₹134.63 crore, down 15.4% from ₹159.12 crore YoY.
Commentary:
Steel Strips Wheels continues to demonstrate operational resilience and innovation with product diversification, despite industry headwinds. The robust growth in alloy wheel volumes and strategic initiatives, such as aluminum knuckle production, are expected to drive future performance.
Disclaimer: The above information is for informational purposes only and should not be considered financial or investment advice.
TOPICS:
Steel Strips Wheels