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Home arrow News arrow Auto component arrow Steel Strips Wheels Ltd bags Rs 190 crore export order from Renault
Steel Strips Wheels Ltd bags Rs 190 crore export order from Renault Print E-mail
Written by Vijay   
Wednesday, 02 February 2011
Mumbai: Automotive wheel rim manufacturer, Steel Strips Wheels Ltd (SSWL) has bagged export orders worth Rs 190 crore from French car-maker Renault for one of it's European plants. The order is for a new vehicle to be launched in Russia towards the end of 2011.

Steel Strips Wheels Ltd is to supply 20,000 wheels per month once the ramp up is complete. The total supplies in the next 5 years would be approximately 1.2 million wheels generating a foreign exchange of over 30 million Euros (Approx Rs 190 crore).

For the quarter ended 31.12.2010, the company registered net sales of Rs 165.49 crores, a 43 percent jump over the Rs 115.64 crore it registered during the same period last year.

It's profit after tax (PAT) for the third quarter of 2010 has gone up by 226 percent compared to the same period in 2009.

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