The company has already commenced development for the program, with series production expected to begin in FY 2026 at its Chennai plant. The total value of the international export order is $5 million, which will be executed over the next five years.
The company also clarified that the contract does not involve any related party transactions and confirmed that neither the promoter, promoter group, nor any group companies have any interest in the awarding entity.
Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of the automobile industry. The firm operates in the automotive wheel segment. Its geographical segments include India and overseas.
The company’s standalone net profit shed 13.6% to Rs 51.44 crore on a 3.21% slide in revenue from operations to Rs 1,074.68 crore in Q3 FY25 over Q3 FY24.
The counter slipped 1.70% to Rs 182.60 on the BSE.