Steel Strips Wheels Limited (SSWL), a prominent player in the automotive wheel manufacturing sector, has announced a significant change in its top management. Naveen Sorot, the company's Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), has tendered his resignation, effective from the close of business hours on September 12, 2025.

Resignation Details

In a regulatory filing to the stock exchanges, SSWL disclosed that Sorot's decision to step down is driven by personal family matters necessitating his relocation to Gurgaon. The company shared Sorot's resignation letter, which expressed his inability to continue in his current role due to these personal circumstances.

Impact on Corporate Structure

Following Sorot's departure, several changes will take effect within the company's management structure:

1. Sorot will cease to be a member of the Risk Management Committee of the Board of Directors.
2. He will no longer serve as a Key Managerial Personnel authorized for determining the materiality of events for stock exchange disclosures under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
3. Sorot will step down from his position as Senior Management Personnel of the company.

Sorot's Tenure and Departure

In his resignation letter, Sorot expressed gratitude for the opportunity to serve SSWL, stating, "It has been an honor to serve the company and I am deeply grateful for the support and trust extended to me during my tenure." He also extended his wishes for the company's continued progress in the years ahead.

Company's Response

Kanika Sapra, Company Secretary & Compliance Officer of Steel Strips Wheels Limited, confirmed the resignation in the regulatory filing. The company has not yet announced a successor for the CFO position.

This development comes at a time when many companies are experiencing shifts in their top management due to various factors, including personal reasons and career moves. Steel Strips Wheels Limited will likely be focusing on ensuring a smooth transition in its financial leadership as it moves forward.

Investors and stakeholders will be keenly watching how SSWL manages this transition and who will be appointed to fill this crucial role in the company's financial management and strategy.

Steel Strips Wheels Limited (SSWL), a prominent player in the automotive wheel manufacturing sector, has announced robust financial performance for August 2025, showcasing growth across multiple segments.

Revenue Highlights

SSWL reported a net turnover of ₹385.98 crores in August 2025, marking a 6.3% year-over-year increase from ₹363.10 crores in August 2024. The company's gross turnover also saw a significant uptick, reaching ₹475.06 crores, up 7.44% from ₹442.15 crores in the same month last year.

Segment-wise Performance

The company's growth was driven by strong performances across various segments:

• Aluminium Products: Demonstrated exceptional growth with a 30% increase in value and a 21% rise in volume year-over-year.
• Tractor Segment: Achieved its highest-ever monthly sales, growing by 10% in value and 17% in volume.
• Truck Segment: Showed solid growth with a 9% increase in value and a 14% rise in volume.
• Two and Three-Wheeler Segment: Maintained stability with no change in value but a slight 1% increase in volume.

However, the passenger car steel wheel segment faced challenges, experiencing a decline of 37% in value and 22% in volume.

Export Performance

Despite the overall positive domestic performance, SSWL's exports saw a significant decline, with a 29% decrease in value and a 58% reduction in volume compared to the previous year.

Market Implications

The diverse performance across segments highlights SSWL's ability to navigate varying market conditions. The strong growth in aluminium products and the tractor segment, in particular, demonstrates the company's adaptability and strength in these areas.

While the passenger car steel wheel segment and exports faced headwinds, the overall revenue growth suggests that SSWL's diversified product portfolio has helped mitigate these challenges.

As Steel Strips Wheels continues to navigate the dynamic automotive market, investors and industry observers will be keen to see how the company leverages its strengths in the growing segments while addressing the areas of decline in the coming months.