This Auto Ancillaries Sector Stock Announces Stock Split in 1:5 ratio: Details Here

Steel Strips Wheels Ltd is a leading Wheel Manufacturing industry having plants all over the India. It designs and manufactures automotive steel wheels & alloy wheels and is among the leading supplier to Indian & Global Automobile Manufacturers.

The company's board has now approved stock split in the ratio of 1:5 soon after it declared the Q1 results ended June 2022. The market capitalization of the company is Rs 2,535 crore. Check details below pertaining to stock split:

1. Steel Strips Wheels Ltd announces stock split

The board of directors of the company in the BSE filing stated, "Sub-division of equity shares of the Company from the existing 1 (one) equity share of face value of Rs.5/- each into 5 (Five) equity shares of face value of Re. 1/- each, subject to approval of shareholders of the Company. The Record Date for the purpose of sub-divisjon of equity shares shall be decided after obtaining approval for sub-division from the 'sha reholders at the forthcominq Annual General lYeeting and will be intimated in due course.

2. Steel Strips Wheels Ltd Q1 Result

The company's net profit fell 13.61% to Rs 44.13 crore in Q1 FY23 as against Rs 51.08 crore in Q1 FY22. Meanwhile, revenue from operations surged 49.84% to Rs 1016.09 crore in Q1 June 2022 as against Rs 678.13 crore in the corresponding quarter last year. The profit before tax is registered at Rs 71.04 crore in Q1 FY23, with a gain of 13.23% as against Rs 62.74 crore declared in Q1 FY22.

3. Steel Strips Wheels Stock Outlook

The current market price of the stock is Rs 810 apiece with a decline of 0.38% in today's trade till 2:11 pm. The 52-week high is Rs 979 apiece and 52-week low is Rs 600.50. It is a company with strong financials. It has a PE of 12.53 which is lesser than sector PE of 16.98. The stock has given a return of 108% in 3 years and 85% in 5 years.

4. About Steel Strips Wheel Ltd

Its product range comprises Steel wheels for two and three wheelers, passenger cars, multi utility vehicles, tractors, trucks & OTR vehicles. It has five production facilities and produces mainly passenger car wheels in Dappar (Punjab) and Oragadam (Chennai) and truck wheels in Jamshedpur (Jharkhand), Alloy Wheels in Mehsana (Gujrat) & Sraikela ( Jharkhand ) . Its total capacity amounts to 9 million wheels in Dappar, 6 million wheels in Oragadam and 2 million truck wheels in Jamshedpur, 2 million Alloy Wheels in Mehsana amounting to a total capacity of 19 million wheels/Annum. SSWL caters to widest range of Domestic & Global Automobile customers' demands with highest quality standards benchmarks.