BRAND-NEW DELHI: Auto element makerSteel Removes Wheelson Thursday said it has gotten orders worth over EUR 1,43,000 (around Rs 1.26 crore) for about 8,800 wheels for theEuropean Union(EU) caravan and truck trailer market.In a regulative filing, Steel Strips Wheels Ltd (SSWL) informed stock market that the new export orders worth over EUR 1,43,000 from Europe will be executed in August and September from its Chennai plant.
It stated similar orders are expected in times to come from other routine clients as the market regains normalcy.
This will support additional ramping up of production at Chennai steel wheels plant, the business added.
Earlier this week, Steel Strips Wheels had actually gotten orders worth over USD 2,37,000 (about Rs 1.77 crore) for the US truck and caravan trailer market.
Last month, Steel Strips Wheels had actually stated it will clock a revenue of more than Rs 325 crore in the existing fiscal year with sale of over 10 lakh alloy wheels, based upon existing orders. This will represent over 300 per cent growth over last financial year.