Steel Strips Wheels (SSWL) said that it has prepaid the long term debt of Rs 35.76 crore, thereby making the total prepayment of Rs 97.03 crore till date.
After this pre-payment along with normal repayments for the period, the company's long term debt is reduced to Rs 405.96 crore.
"The company is working to further pre-pay the long term loans within the current month, so as to be on course to achieve the targeted financial leverage of sub 2 times on total debt (long term/short term) basis," SSWL said in a statement.
Steel Strips Wheels (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.
Net profit of SSWL rose 48.44% to Rs 42.69 crore on 64.05% rise in net sales to Rs 860.52 crore in Q3 December 2021 over Q3 December 2020.
The scrip shed 0.33% to currently trade at Rs 788.90 on the BSE.
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