Precision Wires Q1 FY27 Net Profit Rises 71% YoY

Financial Results Approval

The Board approved the un-audited financial results for the quarter ended June 30, 2026 (Q1 FY27), which were reviewed and recommended by the Audit Committee. The results were accompanied by a Limited Review Report from the statutory auditor S. R. Divatia & Co. Chartered Accountants, which contained no qualifications.

Key Financial Figures (Quarter Ended June 30, 2026):

Revenue from Operations: ₹1,77,048.48 lakhs (₹1,770.48 crore)
Other Operating Income: ₹875.94 lakhs (₹8.76 crore)
Total Revenue: ₹1,77,924.42 lakhs (₹1,779.24 crore)
Profit Before Tax: ₹6,188.83 lakhs (₹61.89 crore)
Tax Expense: ₹1,543.49 lakhs (₹15.43 crore) comprising Current Tax ₹1,515.00 lakhs and Deferred Tax ₹28.49 lakhs
Net Profit: ₹4,645.34 lakhs (₹46.45 crore)
Earnings Per Share (Basic): ₹2.54
Earnings Per Share (Diluted): ₹2.54
Paid-up Equity Share Capital: ₹1,828.16 lakhs (Face value ₹1 per share)

Comparative Figures:

Q1 FY26 (June 30, 2025) Revenue: ₹1,11,557.34 lakhs; Net Profit: ₹2,708.63 lakhs; EPS: ₹1.52
Q4 FY26 (March 31, 2026) Revenue: ₹1,76,285.04 lakhs; Net Profit: ₹5,487.41 lakhs; EPS: ₹3.03

Capacity Expansion Revision

The Board revised the capacity of the Silvassa Expansion and Modernization Project approved on February 14, 2026, increasing it to 4,620 MT/PA from the originally approved capacity of 3,920 MT/PA. The project cost remains ₹38 crores. Upon completion, the company's net effective installed capacity will reach 69,200 MT/PA by the end of FY 2028.

Management Changes

Resignation: Mr. Mohandas Pai retired as Chief Financial Officer and Key Managerial Personnel effective from the conclusion of the 37th Annual General Meeting on August 10, 2026 (close of business). His resignation was due to reaching retirement age after 29 years with the company.

Appointment: Mrs. Krina Parekh, Deputy CFO, was appointed as Chief Financial Officer and Key Managerial Personnel effective from the conclusion of the 37th Annual General Meeting on August 10, 2026. Her profile includes:

Qualifications: B.Com, M.Com, ACA (Membership No. 145855)
15+ years of post-qualification experience in Accounts, Finance, Taxation, and Audit
12 years at Nakodiam Diamonds Pvt. Ltd. (formerly Choron Diamonds (I) Pvt. Ltd.) as Manager - Accounts & Finance
Joined Precision Wires in January 2024 as GM - Accounts & Finance, promoted to Deputy CFO in April 2025
Expertise in IFRS reporting, statutory and tax audits, GST & Income Tax compliance, budgeting, treasury operations, and corporate governance

Compulsory Convertible Debentures Issuance

The Board approved the issuance of 37,50,000 Compulsory Convertible Debentures (CCDs) at a face value of ₹400 per CCD, aggregating to ₹150 crores. Key terms:

Type: 12% Compulsorily Convertible Debentures
Mode: Preferential issue on private placement basis
Conversion: Convertible into equivalent number of equity shares of face value ₹1 each within 18 months from allotment date
Interest Rate: 12% p.a. payable in three installments after 180 days, 360 days, and residual period until conversion
Relevant Date for Pricing: August 6, 2026 (30 days prior to EGM)
Objects: Fund new/ongoing/future expansion, modernization projects, capital expenditure, long-term business investments, and working capital needs
Investors: Anchorage Capital Scheme III (Category II AIF) - 20,00,000 CCDs; AADI Financial Advisors LLP - 17,50,000 CCDs
Approvals Required: Shareholder approval via special resolution at EGM, in-principle approval from NSE, and other statutory approvals
Lock-in: CCDs and resulting equity shares subject to lock-in requirements as per SEBI ICDR Regulations

Audit Committee Composition

Mrs. Asha Morley, Independent Director, was appointed to the Audit Committee with immediate effect. The updated Audit Committee members are:

1. Niraj Bhukhanwala - Non-Executive Independent Director, Chairman

2. Manoj Lekhrajani - Non-Executive Independent Director, Member

3. Asha Morley - Non-Executive Independent Director, Member

4. Milan M Mehta - Chairman and Managing Director, Member

Working Capital Facility

The Board approved an unsecured working capital facility of ₹200 crores from IDFC First Bank Limited.

Meeting Details

The Board meeting commenced at 3:00 PM and concluded at 4:50 PM on August 10, 2026.