Steel Strips Wheels (SSWL) rose 2.40% to Rs 341 after the company said it received new orders worth about 150,000 euros from Europe and US.
SSWL on Thursday (28 May) announced that it bagged exports orders for over 25,000 wheels for EU caravan trailer & US mobile home market to be executed within July from its Chennai plant.Additional orders are expected in coming weeks from several other regular customers as the market begins to recover. SSWL expects to have 5% year-on-year growth in June 2020 in its exports numbers from Chennai plant, the company said.
The company's standalone net profit slumped 68% to Rs 6.29 crore on a 28.8% decline in net sales to Rs 343.60 crore in Q3 December 2019 over Q3 December 2018.
Steel Strips Wheels 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.
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