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Axis Securities Report
Steel Strips Wheels Ltd. reported revenue of Rs 1,095 crore, in line with expectations, reflecting a 3% YoY decline but a 7% QoQ increase. Ebitda stood at Rs 119 crore (inline), down 4% YoY but up 6% QoQ, with an Ebitda margin of 10.9%, declining by 8 basis points YoY and 13 bps QoQ.
This performance was driven by gross margin expansion, which was partially offset by higher other expenses. The company’s consolidated PAT was Rs 40.6 crore (inline), down 12% YoY but up 13% QoQ, primarily tracking Ebitda trends.
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Also Read: ICICI Bank To Varun Beverages — Here Are Top Stock Picks For November 2024 By Axis Securities
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