Steel Strips Wheels expects to clock revenue worth over Rs 325 crore in FY21

Last week, SSWL had received orders worth EUR 1,78,000 (Rs 1.51 crore) from the European Union and the US. The company also secured orders worth USD 1,40,000 (around Rs 1.05 crore) along with maiden order for alloy wheels from the EU market.

Auto component maker Steel Strips Wheels on Wednesday said it will clock a revenue of more than Rs 325 crore in the current fiscal year with the sale of over 10 lakh alloy wheels, based on current orders. This will represent over 300 percent growth over the last financial year, the company said in a regulatory filing.

Steel Strips Wheels Ltd (SSWL) stated: "On the basis of the current market scenario and available orders, SSWL shall cross more than 1 million (10 lakh) alloy wheels sales resulting in total revenue of more than Rs 325 crore in the financial year 2020-21." Earlier this week, Steel Strips Wheels had received orders worth USD 1.5 million (about Rs 11.25 crore) for over 1.45 lakh wheels for the US caravan trailer market. Last week, SSWL had received orders worth EUR 1,78,000 (Rs 1.51 crore) from the European Union and the US.

The company also secured orders worth USD 1,40,000 (around Rs 1.05 crore) along with maiden order for alloy wheels from the EU market. Earlier this month, it had bagged orders worth USD 1 million (about Rs 7.5 crore) for over 1.19 lakh wheels for the US caravan trailer market.