Steel Strips Wheels shines after bagging an order from Europe
DSIJ Intelligence / 03 May 2017
Steel Strips Wheels (SSWL) has received an exports order for supply of Steel wheels for European Union Caravan market. The company’s order covers supplies of approximately 19000 wheels, with a mix of 13 inches and 14 inch, steel wheels, in a period of 3 months.
Steel Strips Wheels (SSWL) has received an exports order for supply of Steel wheels for European Union Caravan market. The company’s order covers supplies of approximately 19000 wheels, with a mix of 13 inches and 14 inch, steel wheels, in a period of 3 months.
SSWL will ship wheels from its Chennai plant beginning of May month. The company’s repeat order strengthens SSWL's position as a strong player in caravan wheels’ market in the European region.
On the financial front, SSWL’s revenue increased 19.2 per cent to Rs 335 crore in Q3FY17 as compared to same period in the previous financial year. The company’s operating profit increased 4.02 per cent to Rs 38.78 crore in Q3FY17 on yearly basis. However, its net profit dropped 11.8 per cent to Rs 13.68 crore in Q3FY17 as compared to same period in the previous fiscal year.
The share price of SSWL increased 3.26 per cent in an early trade and is trading at Rs 917.1 on an intraday basis. The share price of the company has witnessed a spurt in volume by more than 1.04 times.
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