Steel Strips Wheels rose 1.03% to Rs 775.35 after the company said it has further reduced the long term debt by Rs 25.73 crore.
Steel Strips Wheels said it has made a total prepayment of Rs 61.27 crore till date. With this, the company's long term debt is reduced to Rs 441.72 crore.The company said it is working to further prepay the long term loans within the current month. It is on course to achieve the targeted financial leverage of sub 2 times on total debt (long term/short term) basis.
Steel Strips Wheels (SSWL) is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. The firm operates in automotive wheels segment. Its geographical segments include India and overseas.
Net profit of SSWL rose 48.44% to Rs 42.69 crore on 64.05% rise in net sales to Rs 860.52 crore in Q3 December 2021 over Q3 December 2020.
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