The auto ancillary sector in India plays a crucial role in supporting the automotive industry by providing essential components, parts, and services to vehicle manufacturers. This sector includes suppliers of engines, tires, batteries, electrical parts, and other critical components. As India’s automotive industry continues to grow, the demand for high-quality, cost-effective parts is rising, fueling the expansion of the auto ancillary sector.
With the increasing shift towards electric vehicles (EVs) and advanced automotive technologies, there is significant growth potential in this sector, particularly in areas like EV batteries, components, and lightweight materials. Key companies such as Bosch (NS:BOSH), Motherson Sumi, and Amara Raja Batteries (NS:AMAR) are positioned to capitalize on this growth, driving innovation and contributing to the long-term sustainability of India’s automotive ecosystem.
Share Price
The shares of Steel Strips Wheels Ltd are currently trading at Rs. 210.7 up by 6.74% from its previous close of Rs. 197.39 as of January 01, 2025.
Recent Update
Segment-Wise Growth Update
The growth in December 2024 showed positive trends across various segments, both in terms of volume and value. The tractor segment saw a strong year-on-year (YOY) increase of 57% in volume and 67% in value, highlighting robust demand in the agricultural sector.
Passenger cars, specifically alloy wheel cars, experienced a 17% increase in volume and a 29% rise in value, indicating a shift towards higher-value models. On the other hand, passenger cars with steel wheels saw a modest 7% increase in volume and a 2% rise in value, reflecting steady demand.
The truck segment saw a decline of 3% in both volume and value, indicating potential challenges in the commercial vehicle market. The two-wheeler and three-wheeler segment had a 17% growth in volume, but remained flat in value, reflecting stable pricing despite higher sales.
Exports overall showed a positive trend, with a 10% growth in volume and a 3% increase in value, underlining India’s growing role as a key exporter in the automotive space. Overall, the entire automotive sector experienced a 7% increase in volume and a 10% rise in value, showcasing solid growth across most segments.
About the Company
Steel Strips Wheels Ltd, established in 1985 and operational since 1991, is a leading manufacturer of steel wheel rims and alloy wheels for the automotive industry. Headquartered in Chandigarh, the company specializes in designing, manufacturing, and supplying high-quality wheel rims for both domestic and international automobile makers.
With a strong presence in the automotive sector, Steel Strips Wheels Ltd is recognized for its innovative approach and extensive experience in producing durable and reliable steel and alloy wheels. The company’s commitment to excellence has made it a key player in the global automotive wheels market.
Written By: Dipangshu Kundu
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