Steel Strips Wheels bags orders worth Rs 34 lakh in US caravan trailer market

Auto component maker Steel Strips Wheels on Monday said it has received orders worth over USD 46,000 (around Rs 34 lakh) for about 3,700 wheels for the US caravan trailer market.

In a regulatory filing, Steel Strips Wheels Ltd (SSWL) said these new export orders are to be executed in September from its Chennai plant.

The company said more similar orders are anticipated from the same customer base as businesses have picked up speed.

Last week, SSWL had received orders worth over EUR 2,53,000 (around Rs 2.20 crore) for about 37,000 wheels for the European Union (EU) caravan trailer market.

Last month, Steel Strips Wheels had said it will clock a revenue of more than Rs 325 crore in the current fiscal year with sale of over 10 lakh alloy wheels, based on current orders. This will represent over 300 per cent growth over last financial year.