Steel Strips Wheels soared 2.98% to Rs 121 at 14:40 IST on BSE after the company posted 20% growth in sales to 5.15 lakh units in July 2008 over July 2007.
The company made this announcement during trading hours today, 12 August 2008.
The stock hit a high of Rs 121 and a low of Rs 117 so far during the day. The stock had hit a 52-week high of Rs 256.25 on 2 January 2008 and a 52-week low of Rs 106 on 22 July 2008.
The company has an equity capital of Rs 12.56 crore. Face value per share is Rs 10.
The current price of Rs 121 discounts its Q1 June 2008 annualised EPS of Rs 22.64, by a PE multiple of 5.34.
Steel Strips Wheels achieved 291% surge in export sales to 38,640 units in July 2008 over July 2007. The company recorded a 20% rise in production to 5.18 lakh wheel rims in July 2008 over July 2007.
In April 2008, Steel Strips Wheels bagged an export order worth Rs 110 crore from Renault, France for supply of one million steel wheel rims over five years.
Steel Strips Wheels’ net profit surged 92.2% to Rs 7.11 crore on 57.3% increase in net sales to Rs 88.48 crore in Q1 June 2008 over Q1 June 2007.
The company is engaged in manufacturing wheel rims. The company caters largely to the two-wheeler industry.
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