Steel Strips wins US$ 3.5 million order

The company has bagged an export order of 76,000 truck wheels from the US truck and trailer aftermarket.

The order is to be shipped in the next 12-month period from the company's Chennai plant, said Steel Strips Wheels Limited (SSWL) in a filing to the bourses on Friday. The company expects more large truck and trailer aftermarket orders from the US and EU markets, said the filing.

Earlier, the company had reported total wheel rim sales of 13.59 lakhs compared to 12.61 lakhs in July 2018, representing a 8 per cent YoY growth. The company achieved gross turnover of Rs. 185.07 crore in July 2018 compared to Rs. 161.51 crore in July 2017, which is a growth of 15 per cent.

On Friday, the stock of Steel Strips opened at Rs. 1,201.95 per share and closed at Rs. 1,185.00 per share, down by 0.42 per cent, while the benchmark BSE Sensex closed at 38,251.80, down by 84.96 or 0.22 per cent.