Company Overview
Baroda Extrusion Limited is an established Indian manufacturer of copper extrusion products with 35+ years of experience, incorporated in 1991. The company operates a manufacturing facility at Jarod Samalaya Road, Vadodara, Gujarat with approximately 3,600 MT annual capacity. The company produces customized copper products including tubes, rods, flats, bus bars, anode, nuggets, coils, and profiles, serving industries such as Electricals, Transformers, Energy, HVAC, EVs, Solar, and Infrastructure.
Financial Performance (Q1 FY27)
Revenue: ₹47.91 crore, showing 14.36% growth compared to previous period
Other Income: ₹0.15 crore
Total Income: ₹47.91 crore
Total Expenditure: ₹44.40 crore
Depreciation: ₹4.63 lakh
Interest Cost: ₹13.83 lakh
EBITDA: ₹3.69 crore with EBITDA margin of 7.70%
PBT: ₹3.50 crore
Tax: ₹86.17 lakh
PAT: ₹2.64 crore with PAT margin of 5.51%
EPS: ₹0.14
Comparative Financial Performance
Compared to previous period: Revenue growth of 14.36%, EBITDA growth of 14.11%, PAT growth of 199.39%, PAT margin improvement from 2.32% to 5.51%
Balance Sheet Position (as at 31st March, 2026)
Equity Capital: ₹19.44 crore
Reserve & Surplus: ₹5.50 crore (improved from negative ₹34.61 crore)
Long-Term Borrowings: ₹1.60 crore
Short-Term Borrowings: ₹3.98 crore
Total Liabilities: ₹55.40 crore
Fixed Assets: ₹1.54 crore
Inventories: ₹25.76 crore
Trade Receivables: ₹24.64 crore
Cash & Cash Equivalent: ₹42.76 lakh
Operational Highlights
Manufacturing Capacity: 3,600 MT per annum
Current Capacity Utilization: ~80%
Unexecuted Order Book: ₹72 crore as of end-July 2026
Order Execution Target: End-August 2026
Land Bank: ~20 lakh sq. ft. industrial land available for expansion
Growth and Expansion Plans
Capacity Expansion: Planned capex of approximately ₹25-30 crore focused on plant & machinery
Funding: Through debt and internal accruals
Target Capacity: 6,000 MT post-expansion (from current 3,600 MT)
Revenue Target: Approximately ₹100 crore within next 3-5 years
Financial Metrics (FY26)
ROE: 280.14%
ROCE: 39.97%
Debt-to-Equity: 0.06x
Debt Reduction: Approximately 90% reduction over last 2 years
Working Capital Management
Management is targeting reduction in inventory days and improving inventory efficiency to strengthen working-capital cycle and support improved cash-flow generation.
Management Commentary
Mr. Alpesh Kanugo, Managing Director, emphasized the company's strong reputation built over 35+ years, successful navigation of legacy financial challenges, and improved financial position through disciplined execution and operational improvements. The company is positioned to capitalize on growth opportunities driven by investments in power infrastructure, renewable energy, electric vehicles, and industrial development.
Certifications and Quality
Company holds 5 BIS & ISI Mark Licences, reflecting commitment to quality excellence.
Client Base
Includes MNCs, MSMEs, PSUs like NPCIL, and Government bodies such as BARC.
Geographical Presence
Serving 1,000+ clients across India with pan-India presence.