Companies

Steel Strips secures alloy wheel long-term orders worth ₹3,750 cr

PTI New Delhi | Updated on July 03, 2020 Published on July 03, 2020

Auto components maker Steel Strips Wheels Ltd (SSWL) on Friday said its Mehsana plant has bagged alloy wheels long-term orders worth ₹3,750 crore through domestic customer supply programmes.

The supply programmes are signed off and the ramp-up plan is in place, SSWL said in a regulatory filing.

“The order book starts from May 1, 2020 and spreads over the coming years till 2024-25,” it said.

In the calendar year 2020, the expected turnover from the order is ₹330 crore; in 2021 it is ₹620 crore; ₹850 crore in 2022; ₹950 crore in 2023, ₹1,000 crore in 2024 with a total of ₹3,750 crore over five years, the filing added.

The company, however, said “the volume growth has the assumption of having the expanded capacity of SSWL Mehsana plant coming onstream in FY20-21 end, and the capacity will be 3 million (30 lakh units) at the end of FY20-21 to meet committed volumes to customers.”

It will also help the company meet “the extended demand of domestic customers by this capacity”, the company added.

SSWL said at 30 lakh capacity it has the potential to generate turnover of ₹1,100 crore per annum.

“We expect the Mehsana plant to contribute close to 25 per cent of total revenue going forward,” it said.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on July 03, 2020
This article is closed for comments.
Please Email the Editor