Steel Strips Wheels (SSWL) has prepaid the long term debt of Rs 25.73 crore making the total prepayment of Rs 61.27 crore. Till date and after this pre-payment along with normal repayments for the period, the company's long term debt is reduced to Rs 441.72 crore. The company is working to further pre-pay the long term loans within the current month, so as to be on course to achieve the targeted financial average of sub 2 times on total debt (Long term/ Short term) basis.
SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.
