Steel Strips Wheels bags order worth over EUR 1,43,000 from European Union

June 2, 2024

NEW DELHI:Automotive component maker Steelelellel Strips Wheels on Thursday said Steel Strips Wheels Ltd (SSWL) has received orders worth 14,000 euros (about Rs 1,261 crore) from the European Union (EU) market for caravan and truck trailers. wheels.

Steel Strips Wheels Ltd (SSWL) has informed the stock exchanges in a regulatory filing that new export orders from Europe worth more than 1.43 lakh euros will be executed for the month of August euro and September at its Chennai plant.

The company said it expects other existing customers to receive similar orders from time to time as the market returns to normal.

This will help in further increasing the production at the Chennai Steel Wheel Plant, the company added.

Earlier this week, Steel Strips Wheels revenues reached $2.37 million (roughly Rs. 1.77 billion) outpacing the U.S. truck and caravan trailer market.

Last month, Steel Strips Wheels sold more than 100 units of its alloy wheels based on current orders Revenue for the current fiscal year will be more than 325,000 sets of Rs. crore. This is a growth of more than 300% as compared to the previous fiscal year.

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