Bansal Wire Industries LimitedMetals & MiningBANSALWIRE
Q1 FY27 concall · earnings callBansal Wire Industries Limited
FY25-26 consolidated revenue grew 19% to Rs 4160 crore with highest ever annual volume of 4,58,000 tonnes as expanded Dadri capacity to approximately 6,80,000 tonne per annum supported diversification into speciality and B2C wires.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Consolidated revenue | ₹4,160 Cr | up 19% | |
| EBITDA | ₹324 Cr | up 17% | |
| Profit after tax | ₹161 Cr | up 10% | |
| Annual volume | 4,58,000 tonnes | — | |
| Operating cash flow | ₹330 Cr | vs internal target of ₹250 Cr |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹924.61 Cr— YoY+12% QoQ | ₹41.68 Cr— YoY+4% QoQ | ₹2.66— YoY-6.7% QoQ |
| Q2 FY25 | ₹825.45 Cr— YoY+1% QoQ | ₹40.06 Cr— YoY+27.1% QoQ | ₹2.85— YoY+20.3% QoQ |
| Q1 FY25 | ₹816.91 Cr— YoY— QoQ | ₹31.51 Cr— YoY— QoQ | ₹2.37— YoY— QoQ |
TL;DR
- Consolidated revenue grew 19% to Rs 4160 crore, EBIDTA grew 17% to Rs 324 crore and profit after tax grew 10% to Rs 161 crore.
- Achieved highest ever annual volume of 4,58,000 tonnes and highest ever quarterly volume of 1,21,000 tonnes in the third quarter.
- Installed 1,20,000 tonne additional capacity at Dadri taking overall installed capacity to approximately 6,80,000 tonne per annum.
- Speciality segments including IHT wires, brass coated hose wire and steel cord contribute around 4-5% of total volumes; B2C farming, fencing and poultry wires contribute almost 10% of revenue.
- Exports reach nearly 40 countries with approximately 3,000 plus SKUs and debt-to-equity ratio of 0.39 times.
Said on the call
“With confidence in our capabilities, we remain focused on building momentum and delivering excellence going forward.”
From the Q&A
| Topic | What management said |
|---|---|
| Stock split rationale | Management said the purpose of the split is to increase the number of shareholders and expand the shareholder family. |
| LPG and steel price volatility | Management said it operates a cost-plus model where raw material, about 80% of total cost, is passed on immediately, and carries about 40-45 days of inventory and 40-45 days of orders to pass through other costs including gas with a lag. |
| Cash flow target | Management said Rs 330 crores cash flow was about 30% higher than the internal target of Rs 250 crores through inventory rationalisation and lower receivables, has raised the two-year target to about Rs 800 crores, and reported about Rs 120 crores of cash flow in Q1 already. |
| B2C expansion | Management said B2C in farming, poultry and fencing leverages existing manufacturing and brand, now contributes about 10% of total revenue, and the internal target is about 50% of low carbon wires from this segment. |
| Steel tyre cord commercialization | Management said steel tyre cord approval generally requires 2-2.5 years, first trial order is completed, more trial orders are expected, and meaningful sales could be seen within the next three to four quarters. |
| CSR spend | Management said last year CSR spend was about Rs 3.10 crore and this year target is about Rs 3.50 crore across medical, education and other fields. |
| Dadri capacity utilization | Management said total capacity was about 6.8 lakh tonnes operating at about 70%, with a historical aim of 85-90% utilization while keeping 20-25% headroom for growth. |
Guidance
- Focus through FY27 on catering to diverse customer needs, enhancing capacity, improving throughput and tightening cost per tonne
- Generated Rs. 330 crores of operating cash flow in FY25-26 and increased two-year cash flow target from ₹600 crores across FY 2025-26 & FY 2026-27 to about Rs 800 crores, with around Rs 400 crores targeted this year
- Plan capex of about Rs. 200-250 crores primarily through internal accruals
- Increase market share from approximately 7% towards 10% in the very near future
- Remain focused on medium-term objective of moving towards double-digit EBITDA margin supported by better product mix, higher utilization and operational efficiency
Source
Summary written from the transcript filed by Bansal Wire Industries Limited for the call held on 23 Sept 2026; published 26 Sept 2026, 16:43 IST.
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