Auto component company Steel Strips Wheels is expected to cross more than 1 million alloy wheels sales or total revenue of more than Rs3.25bn in the fiscal year 2020-21. The company’s claim is based on current market condition and available orders. It represents a growth of 300pc over last fiscal year.
The company has received bulk export order for around 17,000 wheels for European Union (EU) caravan trailers. The same order is to be executed in August from its Chennai plant. It is also expecting similar orders from their regular customers as the market comes back to normal.
Looking at the orders book position, company will ramp up the production at its Chennai steel wheels plant. It is expecting to operate at its Chennai car business at 100pc capacity utilization in August on strong export orders.