SSWL wins 1 lakh truck and caravan wheels order

Steel Strips Wheels (SSWL) has received new export orders for caravan wheels and truck wheels for US and EU trailer markets. The said order comprises of about 1,00,000 wheels amounting to US$ 3 million. The company expects that the above orders would repeat in the coming months.

SSWL is operating its truck wheel facility in Chennai (120 per cent utilization) and additional capacity of 1 million wheels which is likely to be onstream in phases starting in November 2018 to March 2019. The combined capacity utilization of 3 plants (Dappar, Jamshedpur, Chennai) stood at 94.3 per cent in Q1FY19.

SSWL is involved in the design and manufacture of automotive wheels. The company is a leading supplier to the domestic and international automobile manufacturer. The company enjoys the position of market leader in the steel wheel segment. It enjoys a healthy market share in various segments such as OTR (Back Hoe Loader) 70 per cent, Commercial Vehicle (MHCV) 52 per cent, Passenger Car 50 per cent and Tractor 44 per cent.

On Wednesday, the stock opened at Rs. 1,060 per share and made an intraday high and low of Rs. 1,098 and Rs. 1,039.45, respectively on the BSE.