SSWL surges on export order win for 25,000 wheels

Automotive steel wheels designer and manufacturer, Steel Strips Wheels Limited (SSWL) secured export orders for over 25,000 wheels for EU caravan trailer & US mobile home market. The order will be executed at its Chennai plant within July.

This order marks the gradual restart of operations in EU & US markets post lockdown due to COVID-19 outbreak. Earlier this month, SSWL had already bagged export orders for over 50,000 wheels for EU caravan trailer market to be executed in July & August from its Chennai plant.

The company is now expecting orders from several other regular customers in the upcoming weeks as the market shows signs of recovery. In terms of its export figures based from the Chennai plant, the company is anticipating a 5 per cent YoY growth in June 2020.

SSWL entered into this market segment only five years ago but has established itself and remained a market leader in steel wheels for the highly competitive EU caravan wheels market.

The company is among the prominent suppliers to Indian & Global Automobile Manufacturers. Its product range comprises steel wheels for Two and Three Wheelers, Multi utility vehicles, Passenger cars, Trucks, Tractors & OTR Vehicles.

On Thursday, SSWL's stock surged 4.5 per cent to Rs 348 from its previous close of Rs 333 on BSE.