Steel strips wheels limited is already supplying steel wheels to BMW Oxford plant for its prestigious mini model and the new order indicates BMW growing relationship with SSWL.

SSWL has manufacturing plants in Dappar (near Chandigarh), Oragadam (near Chennai) and a truck wheel plant at Jamshedpur. The company is in the process of expanding its Oragadam plant from 2.5 million wheels to 6 million per annum.

The company achieved a 34% growth in Sale in June 2011. For the quarter ended 30th June 2011, the comapny's net sales went up by 55 percent, from Rs 148.49 crores in Q1 2010 to Rs 230.13 crores in Q1 2011.

Its PBT increased by 46 percent, from Rs 8.33 crore in Q1 2010 to Rs 12.15 crore in Q1 2011. Its PAT increased by 60 percent, from Rs 7.22 crore in Q1 2010 to Rs 11.54 crore in Q1 2011. The EPS has increased 47 percent from 5.30 to 7.77 while its EBIDTA is up 40 percent.

Steel Strips Wheels Ltd expects sales of 180000 wheels to Renault Brazil against an earlier projection of 120000 for the Q2 FY 2011-12. This is due to increased demand from the OE for the Logan Car. The company is confident that this Brazil business will see more upswing in coming months.