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- Steel Strips Wheels Q1 Results, Revenue Declines to ₹1,02,529.25 Lakhs with PAT at ₹4,080.65 Lakhs
Steel Strips Wheels Q1 Results, Revenue Declines to ₹1,02,529.25 Lakhs with PAT at ₹4,080.65 Lakhs
Steel Strips Wheels Q1 Results show a 4.37% QoQ drop in Total Income to ₹1,02,659.14 lakhs, an Operating Profit of ₹84.49 Cr., and a 92.14% YoY decrease in Profit After Tax to ₹4,080.65 lakhs, Steel Strips Wheels Q1 Results also reveal an Operating Margin of 8.24%.
by P Nandhini
Updated Sep 14, 2024
Table of Content
Steel Strips Wheels Q1 Results 2024-2025: Steel Strips Wheels announced their Q1 results for the fiscal year 2024-2025 on July 23, 2024, showing a mixed performance. The company reported a revenue of ₹1,02,529.25 lakhs for the quarter ended June 30, 2024, which is a decrease of 4.06% compared to the previous quarter’s revenue of ₹1,06,867.24 lakhs.
This quarter-on-quarter (QoQ) decline reflects a challenging period for Steel Strips Wheels as they face fluctuations in the automotive industry. The company's net profit for Q1 2024-2025 stood at ₹4,080.65 lakhs, a significant decrease of 92.14% from the previous quarter's profit of ₹51,555.99 lakhs.
This year-over-year (YoY) drop highlights the impact of increased expenses and lower income, despite a modest rise in other income. The company’s earnings per share (EPS) were reported at ₹2.60, consistent with the previous quarter but a stark contrast to the high EPS figures in the same quarter last year.
Overall, Steel Strips Wheels’ Q1 performance shows a need for strategic adjustments to improve financial stability and growth.
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Steel Strips Wheels Q1 Results 2024 - 2025
Steel Strips Wheels has released its Q1 results for the fiscal year 2024-2025. Below is a summary of their financial performance for the quarter ended June 30, 2024:
Steel Strips Wheels' Q1 results for the fiscal year 2024-2025 reveal some key financial movements. Below is a detailed table comparing Q1 2024-2025 with the previous quarter and highlighting year-over-year (YoY) and quarter-on-quarter (QoQ) performance:
| Particulars | Q1 2024-2025 | Q4 2023-2024 | YoY Change | QoQ Change |
|---|---|---|---|---|
| Revenue from Operations | ₹1,02,529.25 lakhs | ₹1,06,867.24 lakhs | -4.06% | -4.06% |
| Other Income | ₹129.89 lakhs | ₹479.51 lakhs | -72.91% | -72.91% |
| Total Income | ₹1,02,659.14 lakhs | ₹1,07,346.75 lakhs | -4.37% | -4.37% |
| Cost of Materials Consumed | ₹64,896.85 lakhs | ₹67,631.89 lakhs | -4.04% | -4.04% |
| Employee Benefit Expenses | ₹9,023.83 lakhs | ₹9,029.99 lakhs | -0.07% | -0.07% |
| Profit Before Tax | ₹5,469.36 lakhs | ₹52,296.48 lakhs | -89.56% | -90.54% |
| Profit After Tax | ₹4,080.65 lakhs | ₹51,555.99 lakhs | -92.14% | -92.14% |
| Earnings Per Share (Basic) | ₹2.60 | ₹2.60 | 0.00% | 0.00% |
| Depreciation and Amortization Expenses | ₹2,852.24 lakhs | ₹3,680.16 lakhs | -22.47% | -22.47% |
| Finance Costs | ₹3,113.08 lakhs | ₹2,800.03 lakhs | 11.18% | 11.18% |
| Total Comprehensive Income | ₹3,920.61 lakhs | ₹51,833.60 lakhs | -92.43% | -92.43% |
Source: Click Here
Steel Strips Wheels Current Market Overview
Steel Strips Wheels is currently trading at ₹220 per share, down by 1.02%. The company’s market cap stands at ₹3,460 crore. Its stock has fluctuated between a high of ₹299 and a low of ₹190 recently. With a price-to-earnings ratio of 15.2 and a book value of ₹91.9, the company shows a solid financial position.
It offers a modest dividend yield of 0.45% and demonstrates strong profitability with a return on capital employed (ROCE) of 17.4% and return on equity (ROE) of 20.2%.
| Metric | Value |
|---|---|
| Current Price | ₹220 |
| Price Change | -1.02% |
| Market Cap | ₹3,460 Cr. |
| High / Low | ₹299 / ₹190 |
| Stock P/E | 15.2 |
| Book Value | ₹91.9 |
| Dividend Yield | 0.45% |
| ROCE | 17.4% |
| ROE | 20.2% |
| Face Value | ₹1.00 |
Quarterly Results
Here are the quarterly results for Steel Strips Wheels for the periods ending December 2023, March 2024, and June 2024:
| Metric | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|
| Sales (₹ Cr.) | 1,110 | 1,069 | 1,025 |
| Expenses (₹ Cr.) | 994 | 959 | 912 |
| Operating Profit (₹ Cr.) | 117 | 110 | 113 |
| OPM (%) | 10% | 10% | 11% |
| Other Income (₹ Cr.) | 2 | 478 | 1 |
| Interest (₹ Cr.) | 25 | 28 | 31 |
| Depreciation (₹ Cr.) | 22 | 37 | 29 |
| Profit Before Tax (₹ Cr.) | 71 | 523 | 55 |
| Tax % | 16% | 1% | 25% |
| Net Profit (₹ Cr.) | 59 | 516 | 41 |
| EPS (₹) | 3.79 | 32.85 | 2.60 |
About Steel Strips Wheels
Steel Strips Wheels is a leading manufacturer of automotive wheels based in Chandigarh, India. The company produces both steel and alloy wheels and operates several state-of-the-art facilities across India, including in Punjab, Chennai, Jharkhand, and Gujarat.
With a combined annual production capacity of over 20 million wheels, Steel Strips Wheels serves a wide range of domestic and international automobile manufacturers.
The company has built strong partnerships with major industry players, such as Tata Steel and South Korea's Kalink Co., and is known for its commitment to high-quality standards and innovation in the automotive sector.
Check our website for more Q1 results.
Steel Strips Wheels Q1 Results - FAQs
1. What are Steel Strips Wheels' Q1 2024-2025 revenue figures?
Steel Strips Wheels reported a revenue of ₹1,02,529.25 lakhs for Q1 2024-2025.
2. How does Steel Strips Wheels' Q1 2024-2025 revenue compare to the previous quarter?
Steel Strips Wheels' revenue decreased by 4.06% from ₹1,06,867.24 lakhs in the previous quarter.
3. What was the net profit of Steel Strips Wheels for Q1 2024-2025?
The net profit for Steel Strips Wheels in Q1 2024-2025 was ₹4,080.65 lakhs.
4. How much did Steel Strips Wheels' net profit drop compared to the previous quarter?
Steel Strips Wheels' net profit dropped by 92.14% from ₹51,555.99 lakhs in the previous quarter.
5. What was Steel Strips Wheels' Earnings Per Share (EPS) for Q1 2024-2025?
The EPS for Steel Strips Wheels was ₹2.60 for Q1 2024-2025.
6. What is Steel Strips Wheels' total income for Q1 2024-2025?
Steel Strips Wheels' total income for Q1 2024-2025 was ₹1,02,659.14 lakhs.
7. What were the cost of materials consumed by Steel Strips Wheels in Q1 2024-2025?
The cost of materials consumed was ₹64,896.85 lakhs.
8. What was Steel Strips Wheels' profit before tax for Q1 2024-2025?
The profit before tax was ₹5,469.36 lakhs.
9. What is Steel Strips Wheels' operating margin for Q1 2024-2025?
The operating margin for Steel Strips Wheels was 8.24%.
10. What is the current EPS for Steel Strips Wheels?
The current EPS for Steel Strips Wheels is ₹2.60.