Steel Strips Wheels report a growth of 20.78 percent in March

Steel Strips Wheels, a manufacturer of automotive wheels has reported that its net sales have increased 20.78 percent in March to Rs 91.80 crore. In terms of number of wheel rims, the company sold 9.16 lakh rims in last month, according to the company.
It was reported that in March, 2011, the company had reported sales of 9.10 lakh rims, amounting to Rs 76 crore. Besides, the company also achieved highest ever sale of truck wheel rims last month, though it did not give the figure. The company achieved exports growth of 40.85 percent at 110,064 rims during the month, as compared to 78,140 rims during the corresponding period of last year.
According to reports, the company, which supplies wheel rims to various auto makers in India and abroad, had bagged a supply contract last month from German car maker  Audi for its A6 platform. The company is expecting to start supplies to Audi in the current financial year and has said that it sees potential of exports worth 20.28 million euros (about Rs 137 crore) over a four-year period.Automobile News