Company Overview

Bansal Wire Industries Limited (CIN: L31300DL1985PLC022737) is a leading steel wire manufacturer with scrip code 544209 and trading symbol BANSALWIRE, reporting strong financial performance for FY 2025-26.

Financial Performance FY 2025-26

Consolidated Performance:

  • Revenue: ₹41,597.86 million (18.6% YoY growth from ₹35,071.68 million)
  • EBITDA: ₹3,234.79 million (17.3% YoY growth from ₹2,758.67 million)
  • Profit After Tax: ₹1,609.42 million (10.0% YoY growth from ₹1,463.66 million)
  • EPS: ₹10.28 (Basic and Diluted)
  • Debt to Equity: 0.39x (improved from 0.48x)
  • Return on Equity: 11.92%

Standalone Performance:

  • Revenue from Operations: ₹40,107.91 million (25.2% YoY growth)
  • Net Profit: ₹1,297.46 million (3.7% YoY growth)
  • Export Revenue: ₹3,693.16 million (up from ₹3,288.07 million in FY25)
  • Current Ratio: 1.64x

Operational Highlights

  • Highest-ever sales volume of 458,055 MT (32.9% YoY growth)
  • Highest-ever quarterly volume of 121,000 MT achieved in Q3 FY26
  • Total installed capacity: 680,000 MTPA with ~68% utilization
  • Export presence in 40 countries with 5,000+ customer base
  • Specialty wires contribution increased to 4-5% of total volume

Capacity Expansion and Projects

  • Dadri facility expansion: 120,000 MT capacity added
  • Sanand, Gujarat facility: 90,000 MT planned (30,000 MT stainless steel, 60,000 MT mild steel)
  • Total planned capacity expansion: 210,000 MT
  • Annual capex guidance: ₹200-225 crore
  • Capital Work in Progress: ₹1,814.66 million (Dadri project)

Cash Flow and Balance Sheet Strength

  • Operating cash flow generation: ₹3,330 million (exceeded target of ₹2,500 million)
  • Cumulative cash flow target: ₹6,000 million by FY27
  • Strong liquidity position with focus on internal funding for growth
  • Net Debt: ₹5,501.15 million with Gearing Ratio of 0.28

AGM Notice and Corporate Actions

  • 41st Annual General Meeting scheduled for September 17, 2026, through Video Conferencing
  • Proposed 5:1 stock split subdividing equity shares from ₹5 to ₹1 face value
  • Re-appointment of Arun Gupta as Director
  • Appointment of Ramesh Kumar Choubey as Independent Director
  • Ratification of Cost Auditor appointment

Subsidiary Performance

Bansal Steel & Power Limited:

  • Revenue: ₹13,631.42 million
  • Net Profit: ₹345.76 million
  • Pre-CIRP Statutory Demands & Litigation: Multiple demands totaling ₹171.59 million contested in Delhi High Court

BWI Steel Private Limited:

  • Incorporated October 4, 2024
  • Non-operational during FY26
  • Loans and advances: ₹468 million from parent company

Risk Management and Contingencies

  • Contingent liabilities include ₹250 million corporate guarantees and ₹120.24 million bank guarantees
  • GST demand under dispute: ₹9.52 million
  • Foreign exchange risk exposure with 5% currency movement impacting PBT by ±₹50.85 million
  • Expected credit loss provision of ₹31.50 million on trade receivables of ₹5,942.48 million
  • Fire incident loss of ₹15.41 million (uninsured inventory) at Dadri unit

Regulatory Compliance and Governance

  • Clean audit opinion from Prateek Gupta & Company
  • Adequate internal financial controls confirmed
  • No material penalties or strictures from regulatory authorities
  • Credit rating reaffirmed: CRISIL A+/Stable (Long-term), CRISIL A1 (Short-term)
  • Delayed EPF payments of ₹58.16 million due to Aadhaar linking issues
  • CSR spend: ₹19.70 million against requirement of ₹23.13 million

Forward-looking Strategy

The company maintains focus on capacity expansion, product diversification, and financial discipline, with internal funding supporting growth initiatives while managing risks through comprehensive policies covering credit, liquidity, and market exposure.