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The company disclosed that these orders are to be executed over a span of five years, with series production expected to begin in early calendar year 2027 from its Chennai facility. Shares of Steel Strips Wheels Ltd ended at ₹223.05, up by ₹5.95, or 2.74%, on the BSE.
Auto component maker, Steel Strips Wheels Limited (SSWL), on Monday (August 4), said it has secured export nominations worth ₹300 crore from two leading European automotive OEMs for its steel wheel business. These contracts are linked to vehicle programs that will be manufactured in the European Union and South America.
The company disclosed that these orders are to be executed over a span of five years, with series production expected to begin in early calendar year 2027 from its Chennai facility. While the names of the OEMs were not disclosed, SSWL confirmed they are among Europe’s prominent automotive players.
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This development aligns with the company’s strategy to diversify its export footprint by reducing dependence on the U.S. market and expanding its presence in key international regions like the EU and South America. SSWL also indicated expectations of additional international business in the coming months as part of this de-risking initiative.
Steel Strips Wheels is into designing and manufacturing automotive wheels, both under the steel & alloy categories. Shares of Steel Strips Wheels Ltd ended at ₹223.05, up by ₹5.95, or 2.74%, on the BSE.
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