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Bansal Wire Reports Record Q2 FY27: EBITDA Up 28.7% YoY to ₹105.0 Cr, PAT at ₹52.9 Cr
Bansal Wire Industries released its Q2 FY27 investor presentation, reporting record quarterly performance with sales volumes up 12.4% YoY to 1,28,867 MT and revenue rising 23.9% YoY to ₹1,308.1 crore. EBITDA reached an all-time high of ₹105.0 crore (up 28.7% YoY) with EBITDA per tonne at ₹8,150. PAT rose 38.0% YoY to ₹52.9 crore, supported by higher Dadri plant utilisation (74% vs 68% in FY26) and a richer product mix. Operating cash flow for H1 FY27 reached ₹339 crore, while working capital days fell to 49 from 75 over the last two quarters.
high confidence
What changedBansal Wire delivered record quarterly volume and EBITDA per tonne, driven by Dadri plant efficiencies and commissioning of value-added products like IHT wire.
Why it mattersHigher capacity utilisation (74%) and lower working capital days (49 days) helped annualised ROCE climb to 22.3%, closing in on management's 25% target.
Q2 FY27 Revenue: ₹1,308.1 croreQ2 FY27 EBITDA: ₹105.0 croreQ2 FY27 PAT: ₹52.9 croreEBITDA per tonne: ₹8,150Working Capital Days: 49 days
📅 Short termThe strong operational rebound from Q1 FY27 (EBITDA up 85.2% QoQ) and record margins are likely to be received positively by the market.
📈 Long termExpansion into high-margin specialty products like tyre cord and inductive/oil-hardened wires (IHT/OHT) supports structural margin expansion and a self-sustaining cash flow model.
⚠ Risk flags
Raw material price volatility affecting pass-through margins
Execution and qualification risks in commercializing steel tyre cord
👀 What to Watch
Track the commercial ramp-up of the expanded IHT/OHT capacity (15,000 MT) by Q4 FY27 and customer conversion for the sampled Steel Tyre Cord trial orders.
Q2 FY27 Net Profit Up 38% YoY to ₹52.9 Cr; Revenue Crosses ₹1,308 Cr
Bansal Wire reported strong Q2 FY27 performance with revenue climbing 23.9% YoY to ₹1,308.1 crore and net profit jumping 38.0% YoY to ₹52.9 crore. EBITDA reached a record high of ₹105.0 crore (up 28.7% YoY) with margins expanding by 30 bps to 8.0%. Sales volumes rose 12.4% YoY to 1,28,867 MT, supported by an increase in plant capacity utilization to 74% from 68% in FY26. Operating cash flow for H1 FY27 came in at ₹339 crore, already exceeding the ₹333 crore recorded in the entire FY26, driven by a reduction in working capital days from 75 to 49.
high confidence
What changedBansal Wire announced its Q2 & H1 FY27 financial results, marking all-time highs in quarterly sales volume, EBITDA, and EBITDA per tonne.
Why it mattersHigher capacity utilization at the Dadri facility and a richer product mix are expanding operating margins and lifting annualized ROCE towards the company's 25% target.
📅 Short termPositive sentiment likely driven by sharp operational margin recovery and record-high EBITDA per tonne of ₹8,150.4.
📈 Long termStructural ramp-up of the Dadri plant, specialty wire additions (IHT/OHT reaching 15,000 MT), and tire cord trials support management's target of reaching 25% ROCE.
⚠ Risk flags
Volatility in steel raw material prices that may compress pass-through margins
Customer evaluation and acceptance risks for newly launched steel tire cord
👀 What to Watch
Track the commercialization timeline of the tire cord product post trial orders and the commissioning of the OHT expansion (taking capacity to 15,000 MT by Q4 FY27).
Q2 Standalone Revenue Up 26% YoY to ₹1,276 Cr; PAT Climbs 28% to ₹40.87 Cr
Bansal Wire reported standalone revenue from operations of ₹1,276.25 crore for Q2 FY27 (ended September 30, 2026), up 26.3% YoY compared to ₹1,010.65 crore in Q2 FY26. Standalone profit after tax increased 28.5% YoY to ₹40.87 crore from ₹31.81 crore, and rebounded sharply from ₹16.48 crore in the preceding quarter. Half-year standalone net profit stood at ₹57.36 crore on revenue of ₹2,411.00 crore. Basic and diluted EPS for the quarter was ₹0.52 per share following the 5-for-1 stock split effective October 2026.
high confidence
What changedBansal Wire released its Q2 and H1 FY27 results alongside post-stock-split EPS restatement.
Why it mattersDemonstrates a robust sequential and YoY rebound in revenue and profitability, sustaining over ₹2,400 crore of half-year standalone top-line compared to TTM revenue of ₹4,388 crore.
📅 Short termEarnings show a sharp sequential recovery from Q1 FY27 (PAT up >140% QoQ), which should provide near-term sentiment support after significant stock price weakness.
📈 Long termLong-term performance hinges on capacity ramp-ups across its 6,18,000 MTPA infrastructure, margin improvement from higher-margin specialty wire mixes, and maintaining strong working capital discipline.
⚠ Risk flags
Raw material price volatility affecting conversion spreads
Consolidated borrowings and leverage levels
Working capital intensity in trade payables and receivables
👀 What to Watch
Monitor volume ramp-up at the Dadri facility and progress in commercializing specialty steel cord products for tire makers, alongside margin resilience against steel raw material volatility.
Q2 FY27 Sales Volume Up 12.4% YoY to Record 1,28,867 MT
Bansal Wire Industries reported its highest-ever quarterly sales volume of 1,28,867 MT in Q2 FY27, representing a 12.44% YoY increase from 1,14,609 MT in Q2 FY26. For H1 FY27, total sales volumes reached 2,40,812 MT, rising 10.10% YoY compared to 2,18,709 MT in H1 FY26. Sequentially, Q2 FY27 volume expanded by 15.1% over Q1 FY27 (1,11,945 MT). This volume trajectory reflects steady ramp-up towards utilizing its total installed capacity of 6,18,000 MTPA.
high confidence
What changedBansal Wire reported quarterly operational metrics, recording record sales volumes for both Q2 FY27 and H1 FY27.
Why it mattersDemonstrates solid operational traction and demand absorption as the company ramps up capacity from its Dadri plant toward its targeted 20-25% growth path.
📅 Short termPositive sentiment driver ahead of detailed Q2 financial results, confirming continued volume momentum after a softer Q1.
📈 Long termSupports the company's objective to ramp up utilization at the Dadri plant and shift product mix toward specialty wires, reinforcing its position as India's second-largest steel wire maker.
⚠ Risk flags
Volume growth may not translate proportionately to profits if raw material pass-through or realization margins were weak
👀 What to Watch
Track the upcoming Q2 FY27 financial results to assess if double-digit volume growth translated into revenue and margin expansion, especially given recent margin compression to 4.8% operating margin in Q1 FY27.
1:5 Stock Split Approved and New Independent Director Appointed
Bansal Wire Industries has approved a 1:5 stock split, subdividing each Rs 5 face value share into five shares of Rs 1 each to enhance market liquidity. The board also appointed Shri Ramesh Kumar Choubey, a former Chief Commissioner of Income Tax, as an Independent Director for a 5-year term effective August 12, 2026. This follows the resignation of Smt. Sunita Bindal due to personal commitments. The stock split is expected to be completed within two months following shareholder approval at the AGM scheduled for September 17, 2026.
high confidence
What changedThe company is subdividing its equity shares to improve affordability and has replaced a resigning Independent Director with a former senior tax official.
Why it mattersThe stock split is a tactical move to increase retail participation and liquidity. The board appointment of a former Chief Commissioner of Income Tax adds significant regulatory and administrative oversight experience to the company.
Stock Split Ratio: 1:5Post-split Face Value: Rs 1Post-split Paid-up Shares: 78,27,79,760Director Appointment Term: 5 yearsAGM Date: September 17, 2026
📅 Short termThe stock split announcement is likely to be viewed positively by the market in the coming days as it typically leads to increased trading volumes.
📈 Long termWhile the split is structurally neutral, the addition of high-level administrative expertise to the board supports the company's governance as it scales toward its FY27 ROCE targets.
👀 What to Watch
Investors should track the shareholder approval at the AGM on September 17, 2026, and the subsequent announcement of the record date for the stock split.
Bansal Wire reported a 25% YoY revenue growth to ₹1,168 cr for Q1 FY27, despite facing industrial gas supply disruptions that increased costs by ₹5,000 per tonne in the first half of the quarter. The company maintained its 20% volume growth guidance for the full year, supported by an operating capacity of 680,000 tonnes. A significant milestone was achieved in the specialty segment with the first trial order for steel cords from a major Indian tire manufacturer. Additionally, the new B2C segment for farming and fencing already contributes 10% to total sales.
high confidence
What changedThe company has successfully navigated a temporary gas supply disruption and is now scaling its specialty and B2C portfolios.
Why it mattersThe shift toward high-margin specialty wires and B2C products is critical for the company's goal to reach a 25% ROCE by FY27.
📅 Short termThe stock may see positive sentiment due to strong volume guidance and the resolution of Q1 operational hurdles.
📈 Long termThe transition from industrial wires to specialty tire cords and B2C segments represents a structural improvement in the business mix.
⚠ Risk flags
Sensitivity to industrial gas prices
Raw material price volatility
Execution risk in specialty product qualification
👀 What to Watch
Monitor the commercialization timeline of the steel cord segment expected by mid-2026 and the stabilization of margins as the company passes through earlier cost increases.
₹1,168 Cr Q1 Revenue for Bansal Wire; PAT Declines 48% Amid Operational Disruptions
Bansal Wire reported Q1 FY27 revenue of ₹1,167.9 Cr, a 24.4% YoY increase, supported by volumes of 1,11,962 MT. However, Net Profit (PAT) fell sharply by 47.9% YoY to ₹20.46 Cr, and EBITDA margins contracted from 7.9% to 4.9%. The company attributed the margin squeeze to geopolitical tensions in West Asia and industrial gas supply disruptions during the first half of the quarter. Despite these headwinds, the company secured its first trial order for Steel Tyre Cord, a key high-margin specialty product.
high confidence
What changedBansal Wire experienced a significant profitability dip in Q1 FY27 despite strong revenue growth, primarily due to external operational disruptions and cost pressures.
Why it mattersThe sharp margin contraction highlights the company's vulnerability to supply chain and geopolitical shocks, though the successful trial of specialty products like Steel Tyre Cord indicates progress in its long-term strategy to shift toward high-margin segments.
📅 Short termThe stock may face pressure in the short term due to the substantial miss on PAT and EBITDA margins, despite the healthy top-line growth.
📈 Long termThe long-term outlook depends on the successful ramp-up of the Dadri plant and the transition to specialty wires, which are expected to drive ROCE toward the 25% target by FY27.
⚠ Risk flags
Raw material price volatility
Geopolitical disruptions in West Asia
Industrial gas supply dependency
Execution risk in specialty product commercialization
👀 What to Watch
Watch for margin recovery in Q2 FY27 as management claims business conditions normalized in the latter half of Q1. Monitor the commercialization progress of the Steel Tyre Cord and IHT Wire segments, which are critical for the company's 25% ROCE target.
Q1 FY27 PAT drops 47.9% YoY to ₹20.46 Cr; Revenue grows 24.4% to ₹1,167.89 Cr
Bansal Wire reported a mixed Q1 FY27 with revenue growing 24.4% YoY to ₹1,167.89 Cr, driven by volume execution of 1,11,962 MT. However, profitability was severely hit by geopolitical tensions in West Asia and industrial gas supply disruptions, causing PAT to plunge 47.9% YoY to ₹20.46 Cr. EBITDA margins contracted sharply by 300 bps to 4.9% due to higher input costs and operational hurdles. A strategic positive is the receipt of the first trial order for 'Steel Tyre Cord' from a major Indian manufacturer, a key step toward its mid-2026 commercialization goal.
high confidence
What changedBansal Wire saw a significant revenue jump but suffered a sharp margin and profit contraction due to external supply chain shocks and higher input costs.
Why it mattersThe results highlight the company's vulnerability to industrial gas supply and geopolitical risks, while the tyre cord order validates its shift toward high-margin specialty products.
📅 Short termThe stock may face pressure in the coming weeks due to the significant earnings miss and margin compression compared to historical averages.
📈 Long termThe long-term thesis remains tied to the ramp-up of the Dadri plant and the successful commercialization of specialty wires like steel cord by mid-2026.
⚠ Risk flags
Industrial gas supply dependency
Input cost volatility
Geopolitical risks affecting West Asia demand
👀 What to Watch
Investors should monitor the stabilization of industrial gas supplies and the conversion of the Steel Tyre Cord trial order into commercial volumes, which is critical for achieving the company's 25% ROCE target by FY27.
25% Revenue Growth in Q1 FY27 for Bansal Wire; Standalone PAT Declines 45% YoY to ₹16.5 Cr
Bansal Wire reported a 25% YoY increase in standalone revenue to ₹1,134.75 Cr for Q1 FY27, indicating strong volume demand. However, standalone net profit fell 45.6% YoY to ₹16.48 Cr, squeezed by a 27.3% rise in raw material costs which now consume 84.4% of revenue. Consolidated performance was bolstered by subsidiaries contributing ₹391.12 Cr in revenue and ₹4.86 Cr in PAT. The board also confirmed the appointment of internal and cost auditors for the current financial year.
high confidence
What changedThe company released its Q1 FY27 financial results showing strong top-line growth but significant margin pressure, alongside routine auditor appointments.
Why it mattersThe results highlight the company's vulnerability to raw material price volatility, which currently offsets the benefits of increased sales volumes.
Standalone Revenue (Q1): ₹1,134.75 CrStandalone PAT (Q1): ₹16.48 CrMaterial Cost % of Revenue: 84.4%Subsidiary Revenue: ₹391.12 CrQ1 Revenue vs TTM Revenue: ~27.3%
📅 Short termThe market may react cautiously to the sharp decline in profitability despite the healthy 25% revenue growth.
📈 Long termStructural growth remains dependent on shifting the product mix toward high-margin specialty wires and achieving operational efficiencies at the Dadri facility.
⚠ Risk flags
Raw material price volatility
Margin compression
High material cost dependency
👀 What to Watch
Monitor the ramp-up of the Dadri plant and the sampling of steel cord with tire companies, as these high-margin products are key to the company's target of 25% ROCE by FY27.
2.99% Stake Sale by Promoter Group Member Mr. Mrinaal Mittal
Mr. Mrinaal Mittal, a member of the promoter group, sold 4,682,916 equity shares of Bansal Wire Industries on June 25, 2026. This transaction represents 2.99% of the company's total paid-up share capital. Based on the current market price of Rs 336, the estimated value of the sale is approximately Rs 157.34 Cr. This reduction is significant as it brings the aggregate promoter holding down from 78.0% toward the SEBI-mandated 75% limit for public companies.
high confidence
What changedA member of the promoter group liquidated a 2.99% stake in the company via the open market or block deal.
Why it mattersWhile promoter selling can sometimes be a negative signal, in this case, it appears to be a corrective measure to bring the promoter holding (previously 78.0%) closer to the regulatory ceiling of 75%.
📅 Short termThe stock may experience minor price volatility or downward pressure as the market absorbs the 2.99% additional float.
📈 Long termLimited impact on business fundamentals; the move improves compliance with SEBI listing regulations regarding public shareholding.
⚠ Risk flags
Promoter group stake reduction
Potential for further selling to reach exactly 75% limit
👀 What to Watch
Investors should monitor if this sale was primarily to comply with SEBI's Minimum Public Shareholding (MPS) requirement of 25%. Watch for any further secondary market sales or block deals that might create short-term price volatility.
Bansal Wire Promoter to Sell Up to 2.99% Stake for MPS Compliance
Mrinaal Mittal, a member of the promoter group at Bansal Wire Industries, has announced the intent to sell up to 46,82,916 equity shares, representing 2.99% of the company's total paid-up capital. This move is specifically designed to comply with SEBI's Minimum Public Shareholding (MPS) requirements, as the current promoter holding is 77.99%. The divestment will occur in the open market between June 25, 2026, and August 31, 2026. This regulatory alignment will increase the public float and improve the stock's liquidity.
Key Highlights
Promoter group to divest up to 2.99% stake (46,82,916 shares) to meet the 25% public float mandate.Current promoter and promoter group shareholding stands at 77.99% as of June 24, 2026.The sale process is scheduled to take place from June 25, 2026, through August 31, 2026.Divestment will be executed via the open market in single or multiple tranches.Promoters have provided an undertaking not to purchase any shares on the days the sale is conducted.
👀 What to Watch
Investors should expect some short-term price volatility as the market absorbs the additional 2.99% supply of shares. However, the increased free float is a positive long-term development for liquidity and regulatory compliance.
Bansal Wire Secures Trial Purchase Order for Steel Tyre Cord from Major Tyre Manufacturer
Bansal Wire Industries Limited (BWIL) has successfully secured a trial purchase order for its Steel Tyre Cord product from one of the largest tyre manufacturers in the industry. This order follows a rigorous evaluation of samples, validating the company's technical capability to meet the stringent quality requirements of the tyre sector. While the specific financial value was not disclosed, the approval marks a strategic entry into a high-barrier, technical market segment. This development is a key milestone for BWIL's growth objectives and reinforces its competitive positioning in specialized steel wire manufacturing.
Key Highlights
Received a trial purchase order for 'Steel Tyre Cord' from a leading global tyre manufacturer.The order was awarded following a successful and thorough evaluation of product samples.Entry into the highly technical tyre cord sector, characterized by stringent quality and long approval cycles.The development aligns with the company's long-term growth strategy and expansion into value-added products.
👀 What to Watch
Investors should view this as a positive validation of the company's R&D and manufacturing quality. Monitor for the transition from trial orders to large-scale commercial supply contracts, which would have a more material impact on revenue.
Bansal Wire FY26 Revenue Up 19% to ₹4,160 Cr; Volumes Surge 33% Despite Gas Supply Headwinds
Bansal Wire reported a strong FY26 with revenues reaching INR 4,160 crore and a record sales volume of 4.58 lakh metric tons, a 33% YoY increase. Despite a 35% production cut in late Q4 due to geopolitical-linked gas supply disruptions, the company exceeded its cash flow target by generating INR 333 crore. Management remains optimistic about a 20% growth trajectory post-normalization, supported by a total installed capacity of 6.8 lakh metric tons. The company is also making progress in high-margin segments like Steel Cords and LRPC wires.
Key Highlights
Annual sales volume grew 33% YoY to 4.58 lakh metric tons, the highest ever for the company.Generated INR 333 crore in cash flow, exceeding the initial target of INR 250 crore.Installed capacity reached 6,80,000 metric tons following a 1,20,000-ton expansion at the Dadari facility.EBITDA for FY26 rose 17% to INR 325 crore, while Net Profit increased 10% to INR 161 crore.Management expects a trial order for Steel Cords from top Indian auto companies following Phase-II trial completion.
👀 What to Watch
Investors should monitor the recovery of gas supplies and demand in non-automotive sectors in Q1 FY27. The long-term outlook remains strong due to capacity expansion and entry into value-added specialty wire segments.
Delhi HC Quashes ₹88.8 Million Income Tax Demand for Bansal Wire Subsidiary
The Delhi High Court has ruled in favor of Bansal Wire Industries' wholly-owned subsidiary, Bansal Steel & Power Limited, by quashing significant legacy income tax demands. The court set aside a ₹56.77 million demand for AY 2015-16 and a ₹32.06 million demand (including ₹10.69 million interest) for AY 2017-18. This decision follows the 'clean slate theory,' which protects companies from liabilities arising prior to the approval of a resolution plan. This legal victory effectively removes a potential financial liability of approximately ₹88.83 million.
Key Highlights
Delhi High Court quashed total tax demands of approximately ₹88.83 million against the subsidiary.Specific demands included ₹56.77 million for AY 2015-16 and ₹32.06 million (principal + interest) for AY 2017-18.The ruling was based on the 'clean slate theory' for claims originating prior to the resolution plan approval.The company stated the order reaffirms its compliance framework and results in no negative financial impact.
👀 What to Watch
Investors should view this as a positive development that eliminates legacy legal risks and potential cash outflows. The ruling provides clarity on the company's protected status regarding pre-acquisition liabilities of its subsidiary.
Bansal Wire Industries reported a strong performance for FY26, with annual revenue reaching ₹41,598 million, up 18.6% year-on-year. Sales volumes grew significantly by 32.9% to 4,58,055 MT, driven by the ramp-up of the Dadri facility and expansion into specialty wire segments. While PAT grew by 10% to ₹1,609 million, the company demonstrated exceptional cash generation with an operating cash flow of ₹3,331 million. Management is aggressively pivoting toward high-margin specialty products, targeting a 25%+ ROCE by FY27.
Key Highlights
Annual revenue increased by 18.6% to ₹41,598 million, with Q4 revenue rising 20.9% YoY to ₹11,364 million.Sales volume achieved robust growth of 32.9% YoY, reaching 4,58,055 MT for the full year FY26.Operating Cash Flow (OCF) stood at ₹3,331 million, significantly improving the company's liquidity position.Net Debt to EBITDA improved to 1.68x in FY26 from 2.18x in FY25, reflecting disciplined deleveraging.Company successfully launched IHT Specialty Wire segment and is expanding into high-growth EV and automotive applications.
👀 What to Watch
Investors should focus on the company's transition from commodity wires to high-margin specialty products which is expected to drive margin expansion. The strong volume growth and healthy cash flow generation support a positive long-term outlook.
Bansal Wire Q4 FY26 Net Profit Surges 21% to ₹400.7 Mn; Revenue Up 21% YoY
Bansal Wire Industries reported a strong performance for Q4 FY26, with net profit rising 21% YoY to ₹400.7 Mn and revenue growing 20.9% to ₹11,363.6 Mn. The company achieved a significant milestone in sales volumes, reaching 4,58,055 MT for the full year, a 33% increase. While Q4 EBITDA margins saw a slight contraction of 62 bps to 7.1% due to supply-side disruptions, the company generated a healthy operating cash flow of ₹333 crore in FY26. Management is strategically shifting focus toward high-value specialty products like IHT and OHT wires to drive future margin expansion.
Key Highlights
Q4 FY26 Net Profit increased 21.0% YoY to ₹400.7 Mn, while Revenue grew 20.9% to ₹11,363.6 Mn.Annual sales volume for FY26 reached 4,58,055 MT, marking a robust 33% year-on-year growth.Full-year FY26 Revenue stood at ₹41,597.9 Mn (+18.6%) with PAT at ₹1,609.4 Mn (+10.0%).EBITDA for FY26 rose 17.3% to ₹3,234.8 Mn, though Q4 margins dipped slightly to 7.1%.Company generated ₹333 crore in operating cash flow in FY26, with a target of ₹600 crore over FY26-FY27.
👀 What to Watch
Investors should monitor the successful commercialization of high-value specialty products which are expected to improve margin profiles. The strong volume growth and market leadership position make this a solid long-term play in the steel wire and infrastructure sector.
Bansal Wire Reports 20.16% YoY Growth in Q4 FY26 Sales Volume at 1,17,644 MT
Bansal Wire Industries reported a strong operational performance for FY26, with annual sales volumes growing by 32.88% to 4,58,054 MT. For Q4 FY26, the company achieved sales of 1,17,644 MT, marking a 20.16% increase over the same period last year. Although volumes saw a slight sequential decline from Q3 FY26 (1,21,702 MT) due to industrial gas supply disruptions linked to West Asian geopolitical tensions, the overall growth trajectory remains robust. The company continues to maintain its position as a leading steel wire manufacturer in Asia with healthy volume levels.
Key Highlights
Q4 FY26 sales volume reached 1,17,644 MT, up 20.16% from 97,821 MT in Q4 FY25Full-year FY26 sales volume grew 32.88% YoY to 4,58,054 MT compared to 3,44,710 MT in FY25Sequential volume dipped slightly from 1,21,702 MT in Q3 FY26 due to temporary industrial gas supply issuesManagement cited West Asian geopolitical tensions as the primary cause for the minor Q4 supply chain disruptionThe company achieved its highest ever annual sales volume in FY26
👀 What to Watch
Investors should focus on the strong 33% annual volume growth as a sign of scale expansion, while monitoring if the geopolitical supply chain issues persist into the next quarter.
Bansal Wire Reports 35% Production Capacity Impact Due to Natural Gas Supply Disruption
Bansal Wire Industries has reported a significant temporary disruption in manufacturing operations due to restricted natural gas supplies caused by geopolitical tensions in West Asia. Since mid-March 2026, approximately 35% of the company's production capacity has been affected, specifically impacting heat treatment and annealing processes. To mitigate the impact, the management is increasing the use of electric furnaces and alternative heating systems. While the company is working to restore capacity, the disruption poses a risk to near-term volume growth and operational margins.
Key Highlights
Production capacity has been impacted by 35% since mid-March due to gas supply curtailment.Disruption stems from force majeure declared by Oil Marketing Companies (OMCs) amid West Asian geopolitical conflict.Heat treatment and annealing processes are the primary production lines affected by the shortage.Management is deploying electric furnaces and alternative energy sources to maintain operational continuity.Company is in active coordination with gas distribution partners to restore full production capacity progressively.
👀 What to Watch
Investors should exercise caution as a 35% capacity reduction for a prolonged period will likely lead to a significant revenue miss in the upcoming quarter. Monitor for follow-up announcements regarding the full restoration of gas supplies or the successful transition to alternative energy.
Bansal Wire Subsidiary Signs MoU with Ministry of Steel for ₹70 Cr PLI Scheme Investment
Bansal Wire Industries' wholly-owned subsidiary, BWI Steel Private Limited, has signed a Memorandum of Understanding with the Ministry of Steel under the PLI Scheme 1.2 for Specialty Steel. The company has committed to an investment of ₹70 crores to be executed during FY 2025-26 and FY 2026-27. This project aims to add a manufacturing capacity of 70,000 tonnes per year for stainless steel wire. Participation in this scheme is expected to provide fiscal incentives and strengthen the company's position in the specialty steel segment.
Key Highlights
MoU signed with Ministry of Steel under the Production Linked Incentive (PLI) Scheme 1.2Committed investment of ₹70.00 Crores planned for FY 2025-26 and FY 2026-27New capacity addition of 70,000 tonnes per year for stainless steel wire manufacturingFocus on establishing and expanding manufacturing facilities to meet PLI production targets
👀 What to Watch
Investors should view this as a positive growth catalyst that combines capacity expansion with government-backed fiscal incentives. Monitor the progress of the facility setup and the subsequent impact on volume growth in FY27.
Bansal Wire achieved its highest-ever quarterly sales volume of 121,000 metric tons in Q3 FY26, a 32% year-on-year growth. The company reported 9-month revenue of ₹3,023 crores and has already met its full-year free cash flow target of ₹240 crores. Management is aggressively expanding high-margin specialty wire capacities, including IHT wires for the automotive sector, and expects to reach a 25% ROCE by the end of next year. A significant GST demand of ₹206 crores has been largely resolved with negligible financial impact.
Key Highlights
Record quarterly sales volume of 121,000 MT in Q3 FY26, up 32% YoY and 6% QoQ9M FY26 revenue grew 18% to ₹3,023 crores, while EBITDA rose 19% to ₹243 croresGenerated ₹240 crores in free cash flow from operations in 9 months, achieving the full-year target earlyLaunched IHT wires (9,000 tons) with Phase 2 expansion to 15,000 tons already underwayGST dispute of ₹206 crores resolved by 98-99%, removing a major regulatory overhang
👀 What to Watch
Investors should focus on the company's transition toward high-margin specialty wires which are expected to contribute 15-20% of EBITDA in the future. The strong volume growth and achievement of cash flow targets provide a solid foundation for long-term value creation.
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