SSWL wins order of USD 2.4 million

On July 20, stock price of Steel Strips Wheels (SSWL) jumped by almost 5 per cent or by Rs 22, after the company informed BSE that it has bagged a maiden export order from Mobius Motors, Kenya. Supplies would be executed from SSWL'S Dappar plant in Punjab. This order will include development of a 16" Ground wheel and marks SSWL's entry into East Africa.

Total project volume would be approximately 150,000 wheels spread over 5 years, generating a cumulative revenue of about USD 2.4 million (Rs 16.12 core). SSWL, which is already supplying wheels to Morocco and Egypt, aims to further increase its presence-in the African continent. Recent order from Kenya is supportive to the company’s export policy.

In Q4FY16 revenue of the company has increased by almost 10 per cent to Rs 309 crore from Q3FY16, whereas the EBITDA has grown by 13.51 per cent in the same period; and PAT of the company has risen by almost 19 per cent to Rs 18.5 crore in Q4FY16 as compared to Q3FY16.

Steel Strips Wheels is an India based company. The Company is engaged in the manufacture and sale of automotive wheel rims. The product range comprises of wheels for Passenger cars, Multi utility vehicles, Tractors, Trucks, OTR Vehicles as well as two and three wheelers.