Steel Strips Wheels (SSWL) rose 1.08% to Rs 766.15 after the company said it received new orders worth over $7.25 million (Rs 54 crore) from US and Europe.
In a regulatory filing made during market hours today, the company said that it had received export orders of over 525,000 wheels for US & EU caravan trailer market, US mobile home and US truck trailer market.
SSWL will complete their execution by early July 21 from its Chennai and Dappar plants.
"Orders of similar capacity are anticipated in coming months from similar customer base as businesses continue to recover rapidly," the company said in a statement.
SSWL is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas.
The company reported a net profit of Rs 44.55 crore in Q4 FY21 compared with net loss of Rs 5.24 crore in Q4 FY20. Revenue from operations increased by 80.8% year-on-year (YoY) to Rs 699.87 crore during the quarter.
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