Steel Strips Wheels Ltd (SSWL), the Punjab-based automotive steel wheel manufacturer, has bagged an export order for supply of 30,000 wheels to the Russian passenger car aftermarket.
16 Jun 2014 | 4440 Views | By Jaishankar Jayaramiah
Steel Strips Wheels Ltd (SSWL), the Punjab-based automotive steel wheel manufacturer, has bagged an export order for supply of 30,000 wheels to the Russian passenger car aftermarket. The company says it is exploring the potential of supplying its entire product portfolio.
SSWL, which is already an exclusive OEM supplier ...
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Steel Strips Wheels Ltd (SSWL), the Punjab-based automotive steel wheel manufacturer, has bagged an export order for supply of 30,000 wheels to the Russian passenger car aftermarket. The company says it is exploring the potential of supplying its entire product portfolio.
SSWL, which is already an exclusive OEM supplier to Renault Russia for the Duster SUV, won a Rs 12.21 crore export order in May 2014 for the supply of 150,000 wheel rims to Peugeot France. According to latest figures available, the company’s total wheel rim sales stood at 988,000 units in May 2014, up 20 percent from the 823,000 units sold in the same month a year ago. Gross turnover rose by 4 percent to Rs 104.53 crore in May 2014 from Rs 100.52 crore in May 2013 while net turnover was up by 5 percent to Rs 94.93 crore from Rs 90.72 crore in May 2013.
On a year-on-year basis, SSWL’s sales in May 2014 were up by 71 percent in the two- and three- wheeler segment while it posted a 24 percent growth in the passenger car sector. Export volumes though were down 10 percent, which the company says was on account of maintenance shutdowns and the holiday season in Europe. However, SSWL says its export business is robust and the order book is looking healthy, going forward.
The company’s product range comprises steel wheels for two- and three-wheelers, passenger cars, MUVs, tractors and trucks. It has three production facilities across the country which produce passenger car wheels in Dappar (Punjab) and Oragadam (Chennai) and truck wheels in Jamshedpur (Jharkhand). Existing manufacturing capacity is a total of 17 million wheels per annum comprising of nine million wheels in Dappar, six million wheels in Oragadam and two million truck wheels in Jamshedpur.