Steel Strips Wheels prepays long term debt of Rs35.76 crore; Stock under pressure

23 Mar 2022 , 12:43 PM

Steel Strips Wheels Ltd has informed that the company has further prepaid the long term debt of Rs35.76 crore thereby making the total prepayment of Rs97.03 crore till date and after this pre-payment along with normal repayments for the period, the company’s Long term debt is reduced to Rs405.96 crore.

Further, 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 leverage of sub 2 times on total debt (Long Term / Short Term) basis, said SSWL in a regulatory filing on Wednesday.

At around 12:45 PM, Steel Strips Wheels was trading at Rs787.50 apiece down by Rs4 or 0.51% on Sensex.