Steel Strips Wheels wins a repeat export order from KROMAG KFG-Austria

Steel Strips Wheels dropped 2.02% to Rs 170 at 12:41 IST on BSE after the company said it has received a repeat export order from KROMAG KFG-Austria, for the supply of 25,200 car wheel rims.

The stock hit a high of Rs 173.35 and a low of Rs 168.20 so far during the day. The stock had a 52-week high of Rs 256.25 on 2 January 2008 and a 52-week low of Rs 126.10 on 19 March 2008.

The company’s current equity is Rs 12.56 crore. Face value per share is Rs 10.

The current price of Rs 170 discounts its Q4 March 2008 EPS of Rs 18.25, by a PE multiple of 9.32.

Steel Strips Wheels’ net profit rose 29.9% to Rs 5.73 crore on 34.9% growth in net sales to Rs 73.31 crore on Q4 March 2008 over Q4 March 2007.

On 2 April 2008, Steel Strips Wheels bagged an export order worth Rs 110 crore from Renault, France for supply of one million steel wheel rims over five years.

In January 2008, the company bagged an export order worth Rs 75 crore from PSA Peugeot Citroen, France for supplying 13.75 lakh steel wheel rims.

The company is engaged in manufacturing wheel rims. The company caters largely to the two-wheeler industry.