InvestorQ : Is it true that Steel Strips has received some major auto sector orders?
Dhwani Mehta made post

Is it true that Steel Strips has received some major auto sector orders?

Answer
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Khushi Patel answered.
2 months ago


Steel Strips Wheels, a key manufacturer of auto ancillaries for the US truck market, has received orders worth Rs.1.56 crore. Of course, the order is small but it is significant because it hints at a revival in orders by the US truck market which had been in contraction mode for the last few quarters. This is an order for 6000 wheels for US trucks and trailers.

This is one more in the string of orders that the company has received, which is why it is significant. Steel Strips is expected to clock revenues of Rs.325 crore in FY21 with sale of over 10 lakh alloy wheels representing a 300% YOY growth.