Steel Strips Wheels Limited announced sales results for the month of June 2017. The company achieved total wheel rim sales of INR 1.029 million against INR 1.163 million a year ago. The drop was majorly due to GST implementation in June and all destocking being dine by all across the OEMs. In terms of value, the company have achieves gross turnover of INR 1,124.5 million in June 2017 compared to INR 1,221 million in June 2016, there by recording a drop of 8% and achieved net turnover of INR 1,004.3 million in June 2017 compared to INR 1,098.3 million in June 2016, recording a drop of 8%. The drop was majorly due to GST implementation with destocking done by customer before June and deadline.

For the second quarter of 2017, the company expects sales volume to be around 3.9 million.