Key Financial Figures (Consolidated, Rs. in Lakhs)

Revenue: ₹31,835 lakhs in Q1 FY27, compared to ₹24,651 lakhs in Q1 FY26, a 29% year-on-year (YoY) increase. This is the company's highest-ever quarterly revenue.

EBITDA: ₹4,171 lakhs in Q1 FY27, compared to ₹3,094 lakhs in Q1 FY26, a 35% YoY increase.

EBITDA Margin: 13.10% in Q1 FY27, an increase of 55 basis points from 12.55% in Q1 FY26.

Profit Before Tax (PBT): ₹3,015 lakhs in Q1 FY27, compared to ₹1,783 lakhs in Q1 FY26, a 69% YoY increase.

PBT Margin: 9.47% in Q1 FY27, an increase of 224 basis points from 7.23% in Q1 FY26.

Profit After Tax (PAT): ₹2,296 lakhs in Q1 FY27, compared to ₹1,352 lakhs in Q1 FY26, a 70% YoY increase.

PAT Margin: 7.21% in Q1 FY27, an increase of 173 basis points from 5.48% in Q1 FY26.

Earnings Per Share (EPS): ₹4.52 for Q1 FY27, compared to ₹2.66 for Q1 FY26, a 70% YoY increase.

Equity Capital: Remained unchanged at ₹1,015.42 lakhs (Face Value ₹2).

Other Income: ₹340 lakhs in Q1 FY27, a 227% increase from ₹104 lakhs in Q1 FY26. This is excluded from EBITDA calculations.

Depreciation: ₹751 lakhs in Q1 FY27, an 11% increase from ₹679 lakhs in Q1 FY26.

Interest: ₹745 lakhs in Q1 FY27, nearly flat compared to ₹736 lakhs in Q1 FY26.

Operational Highlights

Sales Volume - Total: 33,300 Metric Tonnes (MT) in Q1 FY27, a 16% YoY increase from 28,634 MT in Q1 FY26.

Sales Volume - India: 19,710 MT in Q1 FY27, a 16% YoY increase from 16,961 MT in Q1 FY26.

Sales Volume - Thailand: 13,590 MT in Q1 FY27, a 16% YoY increase from 11,673 MT in Q1 FY26.

Management Commentary & Strategic Context

Chairman and Managing Director Sunil Chordia attributed the strong performance to a volume-led strategy focused on market share growth, which improved manufacturing efficiencies and reduced unit costs. A richer customer mix also improved realisations. The Chennai greenfield facility, which had crossed breakeven in the previous quarter (Q4 FY26), began contributing positively to overall profits in Q1 FY27. Its capacity is planned to increase from the current ~30,000 TPA to 60,000 TPA.

Macro Context and Company Response

The performance was achieved despite challenges including global geopolitical uncertainties, industry-wide pricing pressure, deepening competition, and supply chain disruptions. The company responded by maintaining its focus on expanding market share, prioritising volumes to improve efficiencies, deepening customer penetration, and leveraging its manufacturing and sales network.

Forward Outlook & Strategic Priorities

Management expects the external environment to remain challenging but is confident in its ability to navigate it. The focus for the rest of FY27 will be on:

  • Sustained focus on market share growth.
  • Higher utilisation across all manufacturing facilities.
  • Capacity expansions across Pithampur, Thailand, and Chennai units.
  • Disciplined capital allocation to generate sustainable growth.

Other Business Updates

Product Diversification: The company has begun a project for manufacturing steel cord for conveyor belts at its Pithampur facility, marking its first product diversification beyond bead wire.

Thailand Expansion: New land has been secured in Ratchaburi, Thailand, to support future expansion. The company is the sole bead wire manufacturer in Thailand.

Sustainability Initiatives: The presentation highlights progress in green energy adoption, including solar power installations at the Thailand and Chennai facilities, GHG emission tracking, and circularity efforts like metal scrap recycling and wastewater reuse.