STEELS STRIPS & WHEELS: SHIFTING TO TOP GEAR
Article Abstract:
Steels Strips & Wheels (SS&W) of Chandigarh manufactures automotive wheels. The company clients like Opel Astra, Hero Honda, Maruti, Telco and Daewoo. SS&W has fared well despite a slowdown in the automobile industry. It suffered a loss of Rs2.68 crore in 1993-94 and managed a profit of Rs4.22 crore in 1996-97. SS&W came out of the red in 1995-96 with a profit of Rs2.04 crore. It produced 8.72 lakh wheels and sold 8.71 lakh wheels. It also increased its installed capacity to 15 lakh units. In 1996- 97, its net sales improved by 45 percent to Rs34.66 crore. It also achieved a capacity utilisation of 70 percent. A maiden dividend of 20 percent was also announced. Sales is expected to go up by 40 percent in 1998-99. Its scrip is being traded at Rs14.55. (uh) ------------------------------------------------------------ Financial Highlights Steels Strips & Wheels (Rs in crore) ------------------------------------------------------------ Particulars Six months ended Six months ended September 1997 September 1996 ------------------------------------------------------------ Sales 19.75 16.72 ------------------------------------------------------------ Depreciation 0.90 0.65 ------------------------------------------------------------ Profit after tax 1.81 1.81 ------------------------------------------------------------ Equity 10.70 10.70 ------------------------------------------------------------ Earnings per share (Rs) 3.38 3.38 (annualised) ------------------------------------------------------------
Comment:
Suffers loss of Rs2.68 crore in 1993-94 but manages to post profit of Rs4.22 crore in 1996-97
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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VISHWAS STEELS: FINANCIALS UNDER QUESTION
Article Abstract:
Vishwas Steels Ltd manufactures MS ingots, billets and rolled products. In the 15 months ended June 1998, its debts were Rs44.12 crore (Rs11.16 crore in 1996-97) as it raised funds for setting up a Rs45-crore unit in Goa. Its interest on these funds is expected to undermine its earnings. Its equity was diluted in 1997-98 and the public holds Rs8.47 crore of the stake. Its debt- equity ratio is 2.32:1. Vishwas Steels Ltd may find it difficult to service the loans. Its second phase of the expansion plan is running behind schedule and is likely to be completed only at the end of the first quarter of 1999. With the completion of the second phase, its depreciation would increase as its assets would rise to Rs52.74 crore from Rs40.70 crore as on June 1998. (tsm) (kvr)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1999
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UTTAM STEELS
Article Abstract:
Uttam Steels makes hot-rolled and cold-rolled coils and galvanised sheets. Its performance has been affected by the recession. It recorded sales of Rs186.94 crore, a net profit of Rs2.90 crore and an operating profit of Rs23.40 crore in the 6 months ended September 1998. Its annualised earning per share was Rs0.73. Its equity was Rs39.68 crore. It has outstanding debts of Rs294.98 crore. Its non-convertible debentures account for Rs119.96 crore. It imported raw materials worth Rs204.93 crore in 1997-98. It is expanding its installed capacity from 1.50 lakh tonnes to 2.50 lakh tonnes. It has shelved its proposed 2.5 million tonnes per annum integrated steel project at Duburi in Orissa. (rk) (kvr)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1999
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