You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

SSWL gains on bagging export order

Capital Market 

Steel Strips Wheels (SSWL) rose 2.39% to Rs 710 after the company said it received new orders worth over Rs 25 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 170,000 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's net profit soared 4.57 times to Rs 28.75 crore in Q3 FY21 from Rs 6.29 crore in Q3 FY20. Revenue from operations during the quarter increased by 52.66% year-on-year (YoY) to Rs 524.54 crore in Q3 FY21.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, April 29 2021. 11:59 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU