Financial Highlights – H2FY26 (in INR Mn)

  • Total Revenues: ₹3,006 (vs. ₹2,836 in H2FY25, +6.0% YoY)
  • EBITDA: ₹204 (vs. ₹223 in H2FY25, -8.4% YoY)
  • EBITDA margin: 6.8% (vs. 7.9% in H2FY25, -104 bps)
  • PAT: ₹117 (vs. ₹113 in H2FY25, +4.2% YoY)
  • PAT margin: 3.9% (vs. 4.0% in H2FY25, -7 bps)
  • EPS: ₹6.00 (vs. ₹6.70 in H2FY25, -10.4% YoY)

Financial Highlights – FY26 (in INR Mn)

  • Total Revenues: ₹5,563 (vs. ₹4,492 in FY25, +23.9% YoY)
  • EBITDA: ₹405 (vs. ₹369 in FY25, +9.7% YoY)
  • EBITDA margin: 7.3% (vs. 8.2% in FY25, -94 bps)
  • PAT: ₹210 (vs. ₹181 in FY25, +16.4% YoY)
  • PAT margin: 3.8% (vs. 4.0% in FY25, -24 bps)
  • EPS: ₹10.74 (vs. ₹10.75 in FY25, -0.1% YoY)

Key Operational and Strategic Developments

  • The company achieved net-debt free status as on March 31, 2026, through repayment of borrowings.
  • Secured first EPC contract from Power Grid Corporation of India Limited (PGCIL) for supply and installation of Optical Ground Wire (OPGW) cable for the 400KV Agra–Kumher portion of (Sikar–Agra up to the LILO point at Kumher).
  • This contract qualifies the company to participate in upcoming OPGW tenders estimated at around ₹10,000 Mn in FY27.
  • Successfully exported OPGW cables at the beginning of FY27.
  • Secured landmark order from Indian Railway worth over ₹100 Mn for supply of 24/48-fibre armoured optical fibre cables.
  • Received multiple OPGW orders from leading EPC and utility players for power transmission projects in India and international markets.
  • The company operates as a fully integrated player across steel wires, Optical Ground Wire (OPGW), and Optical Fibre Cables (OFC).

Management Commentary (Siddharth Rajendra Agarwal, Chairman and Managing Director)

  • Performance driven by sustained demand across core segments.
  • Focus on disciplined execution and profitability.
  • Strategic expansion into margin-accretive segments (OFC and OPGW) and entry into EPC opportunities.
  • Strong order momentum during the year with robust order pipeline of ₹250 Mn for new product segments.
  • Strong structural tailwinds in infrastructure spending, power transmission expansion, and rapid digitalisation.
  • Confidence in improving profitability through richer product mix, operating leverage, and scale-up of new-age businesses.
  • Well positioned to capitalize on long-term growth opportunities with expanded global footprint and higher capacity utilization.

Corporate Background

  • Founded in 2000, India's 3rd largest manufacturer of steel wires and cables.
  • Five manufacturing facilities across India with combined installed capacity of 1,00,000 MTPA.
  • Serves customers across ~25 states and over 30 countries globally.
  • Approved vendor for key government and utility bodies including RDSO and Power Grid Corporation of India Limited.
  • Development vendor for Fibre Armoured Optical Fibre Cables and Optical Ground Wires (OPGW).
  • Backed by in-house R&D and diversified product portfolio.

Forward-Looking Statements Disclaimer

Certain statements are forward-looking and subject to risks and uncertainties including government actions, political or economic developments, industry risks, and other factors that could cause actual results to differ materially. The company undertakes no obligation to publicly update these statements.