Steel Strips Wheels (SSWL) has prepaid long term debt of Rs 81.26 crore in the current Quarter as on December 30, 2022 and after this prepayment along with normal repayments for the period, the company's Long Term debt is reduced to Rs 270.20 crore as on date from Rs 374.39 crore as on March 31, 2022.
The company is working to further pre-pay its long term loans in the next quarter, so as to remain on its target of achieving a financial leverage of sub 1.5 times of total debt.
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.
