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Latest filing: 2026-09-03 16:52
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Bharat Wire Ropes Q1 FY27 PAT Drops 21.8% YoY to ₹12.2 Cr; Revenue Down 8% on Supply Disruptions
Bharat Wire Ropes released its Q1 FY27 investor presentation reporting an 8.0% YoY decline in revenue from operations to ₹130.4 Cr (INR 1,304 Mn). Operating performance was weighed down by supply chain disruptions from the Middle East conflict and rising power and fuel costs, leading to a 15.3% YoY drop in EBITDA to ₹25.5 Cr (margin down 168 bps to 19.56%). Net profit fell 21.8% YoY to ₹12.2 Cr compared to ₹15.6 Cr in Q1 FY26, with sales volumes declining to 8,619 MT from 9,261 MT a year ago.
Confidence: HIGH
What changedBharat Wire Ropes presented its Q1 FY27 financial performance, reflecting volume compression and margin contraction driven by geopolitical shipping disruptions.
Why it mattersWith exports accounting for 67% of FY26 revenue, geopolitical disruptions in key trade corridors directly pressure shipment volumes, freight absorption, and operating margins.
Q1 FY27 Revenue: ₹130.4 Cr (INR 1,304 Mn)Q1 FY27 EBITDA Margin: 19.56%Q1 FY27 PAT: ₹12.2 Cr (INR 122 Mn)Sales Volume: 8,619 MTTotal Manufacturing Capacity: 72,000 MTPA
📅 Short termPerformance is likely to remain subdued over the near term until Middle East logistics stabilize and elevated power and fuel costs normalize.
📈 Long termThe company maintains a low-geared balance sheet (D/E ~0.09) and 72,000 MTPA capacity, positioning it well to capture infrastructure and industrial wire rope demand once export corridors normalize.
⚠ Risk flags
- Geopolitical conflicts disrupting international shipping lines and increasing freight/logistics costs
- High export revenue concentration (67% in FY26) exposing realizations to global disruptions
- Input cost inflation, particularly rising power and fuel expenses
Key Highlights
Revenue from operations fell 8.0% YoY and 7.8% QoQ to ₹130.4 Cr (INR 1,304 Mn)
EBITDA contracted 15.3% YoY to ₹25.5 Cr with EBITDA margin dropping 168 bps YoY to 19.56%
Net profit (PAT) declined 21.8% YoY to ₹12.2 Cr (EPS down 23.3% YoY to ₹1.38)
Sales volumes declined to 8,619 MT compared to 9,261 MT in Q1 FY26 and 9,948 MT in Q4 FY26
Captive solar capacity stands at 6.5 MW under consumption, with 1.86 MW under commissioning (8.36 MW total)
👀 What to Watch
Track export volume recovery and freight rate stabilization in subsequent quarters, alongside the commissioning of the additional 1.86 MW captive solar power capacity to mitigate rising energy costs.
Bharat Wire Q1 Net Profit Drops 21.6% YoY to ₹12.23 Cr; Revenue Down 8%
Bharat Wire Ropes reported a weak set of results for Q1 FY27, with revenue from operations declining 7.9% YoY to ₹130.39 Cr. Net profit saw a sharper contraction of 21.6% YoY, falling to ₹12.23 Cr from ₹15.61 Cr in the same period last year. The decline in profitability occurred despite a reduction in finance costs, which fell to ₹2.76 Cr from ₹3.80 Cr YoY. The board also approved the re-appointment of Sushil Sharda as Whole-Time Director for a five-year term starting May 2027.
Confidence: HIGH
What changedThe company reported a year-on-year decline in both top-line and bottom-line performance for the June 2026 quarter, alongside the re-appointment of a key executive director.
Why it mattersThe results indicate margin pressure and revenue sensitivity to external factors like steel prices, despite the company's low debt-to-equity ratio of 0.09. Sustained profit declines could impact the valuation of this small-cap steel player.
Revenue (Q1 FY27): ₹130.39 CrNet Profit (Q1 FY27): ₹12.23 CrYoY Revenue Growth: -7.95%YoY Net Profit Growth: -21.65%Finance Costs: ₹2.76 Cr
📅 Short termThe stock may face downward pressure in the short term as the market reacts to the double-digit decline in net profit and contracting revenue.
📈 Long termThe long-term outlook depends on the successful execution of the high value-added product strategy and the ability to maintain OPM above 15% amidst volatile raw material costs.
⚠ Risk flags
- Revenue contraction
- Declining quarterly EPS trend
- Sensitivity to steel price corrections
Key Highlights
Revenue from operations fell to ₹130.39 Cr in Q1 FY27 compared to ₹141.65 Cr in Q1 FY26.
Net profit for the quarter stood at ₹12.23 Cr, down from ₹15.61 Cr in the year-ago period.
Finance costs decreased by 27.4% YoY to ₹2.76 Cr, reflecting improved debt management.
Basic Earnings Per Share (EPS) for the quarter dropped to ₹1.78 from ₹2.28 YoY.
Total expenses for the quarter were ₹114.20 Cr, representing 87.6% of revenue.
👀 What to Watch
Investors should monitor if the company's strategy of 10% volume growth and debottlenecking capex (₹61.67 Cr in CWIP) can reverse the current revenue contraction in upcoming quarters. Watch for management commentary on whether the revenue drop is due to lower steel realizations or volume declines.
Bharat Wire Ropes Q1 Net Profit Drops 21.6% YoY to ₹12.23 Cr
Bharat Wire Ropes Limited reported a weak set of results for Q1 FY27, with revenue from operations declining 7.95% YoY to ₹130.39 Cr. Net profit saw a sharper decline of 21.65% YoY, falling to ₹12.23 Cr from ₹15.61 Cr in the year-ago period. The company's profitability was impacted by lower top-line realizations, although finance costs saw a notable reduction to ₹2.76 Cr. Additionally, the board approved the re-appointment of Sushil Sharda as Whole-Time Director for a five-year term starting May 2027.
Confidence: HIGH
What changedThe company experienced a contraction in both revenue and profitability compared to the previous year and the sequential quarter (Q4 FY26).
Why it mattersThe results indicate a slowdown in growth momentum and margin pressure, potentially due to steel price volatility or freight costs which have historically impacted the company's 15%+ margin target.
Revenue (Q1 FY27): ₹130.39 CrNet Profit (Q1 FY27): ₹12.23 CrYoY Revenue Growth: -7.95%YoY Net Profit Growth: -21.65%Finance Costs: ₹2.76 CrQ1 Revenue vs TTM Revenue: ~21.8%
📅 Short termThe stock may face downward pressure in the short term due to the double-digit decline in net profit and missing the previous year's performance benchmarks.
📈 Long termLong-term sustainability depends on the company's ability to scale high-value products and complete its capacity debottlenecking to drive volume growth above 10%.
⚠ Risk flags
- Declining quarterly profitability
- Margin sensitivity to steel price corrections
- High dependence on industrial demand cycles
Key Highlights
Revenue from operations fell 7.95% YoY to ₹130.39 Cr compared to ₹141.65 Cr in Q1 FY26.
Net profit declined 21.65% YoY to ₹12.23 Cr, down from ₹15.61 Cr in the same quarter last year.
Finance costs reduced by 27.5% YoY to ₹2.76 Cr, indicating improved debt management.
Basic Earnings Per Share (EPS) decreased to ₹1.78 from ₹2.28 YoY.
Total expenses for the quarter stood at ₹114.20 Cr, representing 87.6% of revenue.
👀 What to Watch
Watch for management commentary on volume growth versus pricing realizations, as previous filings indicated steel price corrections could offset volume gains. Monitor the progress of the ₹61.67 Cr debottlenecking capex which is expected to increase throughput in future quarters.
CARE Reaffirms BBB+ Rating for Bharat Wire Ropes; ₹98 Cr Long-term Facilities Rated
CARE Ratings has reaffirmed Bharat Wire Ropes Limited's (BWRL) long-term rating at 'CARE BBB+; Stable' for ₹98 crore in bank facilities. The company reported a 5% YoY revenue decline to ₹591 crore in FY26, primarily due to geopolitical conflicts in the Middle East affecting 10-15% of its revenue. Despite a brief 8-day regulatory shutdown at its Chalisgaon plant in June 2026 due to environmental compliance issues, operations have fully resumed. The company maintains a very strong capital structure with an overall gearing of 0.09x and interest coverage of 7.65x.
Confidence: HIGH
What changedCARE Ratings reaffirmed the existing credit ratings while acknowledging a reduction in the rated long-term facility amount from ₹125.11 crore to ₹98.00 crore due to debt prepayments.
Why it mattersThe reaffirmation confirms the company's stable credit profile and low leverage, which is critical for a capital-intensive steel products business facing geopolitical and regulatory headwinds.
Long-term Rated Facilities: ₹98.00 crFY26 Revenue: ₹591 crOverall Gearing: 0.09xInterest Coverage Ratio: 7.65xOperating Cycle: 140 days
📅 Short termThe rating reaffirmation and resumption of plant operations provide stability; however, the impact of the 8-day shutdown may slightly affect Q1FY27 production volumes.
📈 Long termThe company's focus on high-value products and low debt levels (D/E 0.09) are structural positives, though global demand uncertainty remains a key monitorable.
⚠ Risk flags
- Geopolitical conflict impacting 10-15% of revenue from Middle East
- Regulatory risk following MPCB plant shutdown notice
- Working capital intensive operations with 140-day cycle
- Sizeable pledge of promoter shareholding per resolution plan terms
Key Highlights
Long-term bank facilities rating reaffirmed at CARE BBB+; Stable for ₹98.00 crore.
FY26 revenue stood at ₹591 crore, a 5% decline from ₹619 crore in FY25 due to West Asia conflicts.
Chalisgaon plant (66,000 MTA capacity) was shut for 8 days from June 10 to June 18, 2026, following an MPCB notice.
Overall gearing improved significantly to 0.09x as of March 31, 2026, compared to 0.18x in the previous year.
Operating cycle remains elevated at 140 days in FY26, driven by high inventory requirements and extended shipping lead times.
👀 What to Watch
Monitor the company's ability to maintain environmental compliance at the Chalisgaon plant and the recovery of export volumes to the Middle East in upcoming quarterly results.
Bharat Wire Ropes Resumes Chalisgaon Plant Operations Following MPCB Restart Direction
Bharat Wire Ropes Limited has successfully resumed manufacturing activities at its Chalisgaon plant following a restart direction from the Maharashtra Pollution Control Board (MPCB). This development comes after a previous closure notice issued on June 10, 2026, which had temporarily halted operations. The company received the formal communication on June 17, 2026, and confirmed the resumption of operations on June 18, 2026. This resolution mitigates the risk of prolonged production loss at one of its key facilities.
Key Highlights
MPCB issued a restart direction for the Chalisgaon plant via communication dated June 17, 2026.
The plant had been under a closure notice since June 10, 2026, resulting in a roughly one-week operational halt.
Manufacturing activities have officially resumed in compliance with the MPCB's latest directions.
The quick resolution of the regulatory issue minimizes the impact on the company's total production volume for the quarter.
👀 What to Watch
Investors should take note of the quick turnaround in resolving the regulatory hurdle, which suggests effective compliance management. While the short-term shutdown may have a marginal impact on output, the resumption of the plant is a positive signal for operational stability.
Bharat Wire Ropes Receives MPCB Notice to Stop Operations at Chalisgaon Unit
Bharat Wire Ropes Limited has been directed by the Maharashtra Pollution Control Board (MPCB) to stop activities at its Chalisgaon manufacturing facility. The notice, received on June 9, 2026, cites non-compliance with the Water Act of 1974 and the Air Act of 1981 regarding pollution control systems and expansion approvals. While the company states that no material financial impact is currently anticipated, the operational stoppage of a key unit is a significant development. The company has already submitted compliance details and requested the MPCB to revoke the notice.
Key Highlights
Received notice from MPCB under Section 33A of the Water Act and Section 31A of the Air Act.
Directive mandates the stoppage of all activities at the Chalisgaon Unit until further notice.
Observations relate to pollution control systems, compliance monitoring, and approvals for expansion activities.
Company submitted compliance details on June 10, 2026, seeking immediate revocation of the order.
Management is currently assessing the situation and claims no immediate material financial impact.
👀 What to Watch
Investors should closely monitor how long the Chalisgaon unit remains shut, as any extended closure will likely impact quarterly production and revenue. Await further updates regarding the MPCB's response to the company's compliance submission.
Bharat Wire Ropes FY26 PAT Steady at ₹725 Mn; Debt Reduced by 43% to ₹743 Mn
Bharat Wire Ropes Limited reported a 4.7% YoY decline in FY26 revenue to ₹5,905 Mn, largely due to supply chain disruptions caused by Middle East tensions which impacted export volumes. Despite the revenue dip, the company maintained a stable PAT of ₹725 Mn and improved EBITDA margins to 22.15% by focusing on value-added products and domestic markets. A major positive is the significant deleveraging, with total debt falling from ₹1,311 Mn to ₹743 Mn. However, Q4-FY26 performance was weak, with revenue and PAT dropping 17.6% and 19.9% YoY respectively.
Key Highlights
FY26 Revenue stood at ₹5,905 Mn, a 4.7% decrease from ₹6,193 Mn in FY25.
EBITDA margins expanded by 79 bps to 22.15% in FY26, showcasing operational efficiency despite lower volumes.
Total debt was aggressively reduced to ₹743 Mn in FY26 from ₹1,311 Mn in FY25.
Sales volumes for FY26 decreased to 41,320 MT compared to 44,040 MT in the previous year.
Q4-FY26 Revenue and PAT saw significant declines of 17.6% and 19.9% YoY respectively due to geopolitical headwinds.
👀 What to Watch
Investors should weigh the company's strong balance sheet and debt reduction against the recent sharp decline in quarterly volumes and revenue. Monitor the stabilization of export routes and geopolitical conditions as the company remains highly dependent on international markets (67% of revenue).
Bharat Wire Ropes FY26 Net Profit Flat at ₹72.46 Cr; Q4 Revenue Drops 17.6% YoY
Bharat Wire Ropes Limited reported a marginal increase in annual net profit to ₹72.46 crore for FY26, compared to ₹72.30 crore in FY25. However, the Q4 performance was weaker, with revenue from operations declining 17.6% year-on-year to ₹141.48 crore. The company managed to sustain profitability through better cost management, as total annual expenses fell from ₹522.29 crore to ₹493.61 crore. Finance costs also saw a healthy reduction of 17% during the year, reflecting improved debt management.
Key Highlights
FY26 Revenue from Operations stood at ₹590.54 crore, a 4.6% decline from ₹619.32 crore in FY25.
Q4 FY26 Net Profit declined to ₹16.46 crore compared to ₹20.60 crore in the same quarter last year.
Annual Finance Costs reduced significantly to ₹11.04 crore from ₹13.33 crore YoY.
Basic Earnings Per Share (EPS) for FY26 remained stable at ₹10.57 compared to ₹10.59 in FY25.
Total Comprehensive Income for the year was ₹71.93 crore, slightly down from ₹72.25 crore in the previous year.
👀 What to Watch
The results show resilience in profitability despite a top-line contraction; investors should monitor management commentary regarding the revenue decline in Q4. The reduction in finance costs is a positive sign for long-term balance sheet health.
Bharat Wire Ropes FY26 Revenue Declines to ₹590.54 Cr; Board Recommends CCPS Dividend
Bharat Wire Ropes reported a decline in annual revenue from operations to ₹590.54 crore for FY26, down from ₹619.32 crore in FY25. The fourth quarter (Q4 FY26) saw a sharper decline, with revenue falling to ₹141.48 crore compared to ₹171.83 crore in the same period last year. The board has recommended a 0.01% dividend on unlisted Compulsory Convertible Preference Shares (CCPS) and appointed new statutory auditors for a five-year term. Despite the revenue dip, the auditors have issued an unmodified opinion on the financial statements.
Key Highlights
Annual Revenue from Operations decreased by 4.6% YoY to ₹590.54 crore in FY26.
Q4 FY26 Revenue fell significantly by 17.7% YoY to ₹141.48 crore.
Board recommended a final dividend on 38,266 unlisted 0.01% CCPS for FY26.
M/s. Borkar & Muzumdar appointed as Statutory Auditors for a 5-year term (2026-27 to 2030-31).
Internal and Cost Auditors also appointed for the upcoming financial year 2026-27.
👀 What to Watch
Investors should exercise caution as the company shows a notable decline in top-line growth, particularly in the final quarter. It is advisable to wait for the full management commentary to understand the margin impact and demand outlook before making new positions.
Bharat Wire Ropes Shareholders Approve New Statutory Auditors with 99.99% Majority
Bharat Wire Ropes Limited has announced the successful passage of an ordinary resolution to appoint M/S. Borkar & Muzumdar, Chartered Accountants, as Statutory Auditors to fill a casual vacancy. The resolution received overwhelming support, with 99.99% of the 45.63 million votes cast in favor. The voting process, conducted via postal ballot, saw a total participation of 66.54% of the company's outstanding shares. This move ensures the company remains compliant with statutory audit requirements following the vacancy.
Key Highlights
Resolution to appoint M/S. Borkar & Muzumdar as Statutory Auditors passed with 99.99% majority.
Total votes polled were 45,633,784, representing 66.54% of the total 68.58 million outstanding shares.
Promoter group (28.3 million shares) and Public Institutions (0.68 million shares) voted 100% in favor.
The appointment fills a casual vacancy, ensuring continuity in the company's financial auditing and compliance process.
👀 What to Watch
Investors should view this as a routine governance update that maintains the company's compliance framework. No specific portfolio action is required as the transition appears smooth and well-supported.
Lloyds Metals and Energy Acquires 5.31% Stake in Bharat Wire Ropes via Open Market
Lloyds Metals and Energy Limited, along with Lloyds Enterprises Limited, has acquired a significant 5.31% stake in Bharat Wire Ropes Limited through open market purchases. The acquisition involved 36,46,875 shares, increasing the group's total holding from 0.46% to 5.77%. This strategic investment by a prominent player in the metals and energy sector suggests strong institutional interest in the company's business model. The transaction was executed on April 17, 2026, and reported under SEBI's Substantial Acquisition of Shares and Takeovers regulations.
Key Highlights
Lloyds Metals and Energy Limited acquired 20,00,000 shares representing 2.91% of the company.
Lloyds Enterprises Limited (PAC) acquired 16,46,875 shares representing 2.40% of the company.
Total combined holding of the acquirers increased from 3,14,569 (0.46%) to 39,61,444 shares (5.77%).
The acquisition was conducted through open market purchases on April 17, 2026.
The company's total voting capital remains at 6,86,22,914 equity shares with a face value of Rs. 10 each.
👀 What to Watch
Investors should view this as a positive signal of confidence from a strategic corporate investor and monitor for potential operational synergies. The stock may see increased interest due to this substantial stake building by the Lloyds group.
Bharat Wire Ropes Appoints Borkar & Muzumdar as Auditors Following Resignation of CNK & Associates
Bharat Wire Ropes Limited has appointed M/s. Borkar & Muzumdar, Chartered Accountants, as the new Statutory Auditors effective March 7, 2026. This appointment fills a casual vacancy created by the resignation of the outgoing auditor, M/s. CNK & Associates LLP. The new firm brings over 75 years of experience with a team of 19 partners and 230 staff members. The appointment is subject to shareholder approval at the upcoming General Meeting.
Key Highlights
Appointment of M/s. Borkar & Muzumdar to fill the casual vacancy caused by the resignation of M/s. CNK & Associates LLP.
The new auditing firm has over 75 years of experience and a team of 19 partners and 230+ staff.
The Board of Directors approved the appointment in a meeting held on March 7, 2026, between 11:15 A.M. and 11:45 A.M.
The appointment is subject to the approval of shareholders at the ensuing General Meeting.
👀 What to Watch
Investors should monitor for any detailed disclosures regarding the reasons for the previous auditor's resignation. While the new firm is reputable, frequent or sudden changes in statutory auditors warrant a closer review of the company's financial governance.
Bharat Wire Ropes Reports 29% 3-Year EBITDA CAGR and 72,000 MTPA Capacity in Feb 2026 Update
Bharat Wire Ropes (BWR) showcased a strong financial trajectory with a 3-year EBITDA CAGR of 29% and revenue CAGR of 15%. The company operates a significant 72,000 MTPA manufacturing capacity across two plants in Maharashtra, with a heavy focus on exports which contribute 73% of total revenue. For the 9M-FY26 period, the company recorded revenues of INR 5,891 million with an EBITDA margin of 23.56%. BWR maintains a diverse global presence across 55+ countries, catering to critical sectors like Oil & Gas, Mining, and Infrastructure.
Key Highlights
Achieved a 3-year EBITDA CAGR of 29% and Revenue CAGR of 15% as of February 2026.
Total manufacturing capacity stands at 72,000 MTPA, with the Chalisgaon mega project contributing 66,000 MTPA.
Export markets dominate the revenue mix, accounting for 73% of sales across 55+ countries.
9M-FY26 revenue reached INR 5,891 million, showing strong momentum compared to FY25's full-year revenue of INR 6,218 million.
Maintains healthy EBITDA margins, peaking at 26.39% in FY25 and standing at 23.56% for the 9M-FY26 period.
👀 What to Watch
Investors should monitor the company's ability to maintain high EBITDA margins amidst global trade fluctuations, given its 73% export dependency. The strong 3-year growth profile suggests efficient scaling of the Chalisgaon facility and successful penetration into international markets.
Bharat Wire Ropes Q3 PAT Jumps 22.1% YoY to ₹182 Mn Despite Revenue Dip
Bharat Wire Ropes reported a strong bottom-line performance for Q3-FY26, with PAT increasing 22.1% YoY to INR 182 Mn, driven by a strategic shift toward high-margin value-added products. While revenue declined 11.7% YoY to INR 1,428 Mn due to lower sales volumes (10,058 MT vs 11,469 MT), EBITDA margins expanded significantly by 491 bps to 22.83%. The company continues to benefit from a high export mix of 73% and consistent debt reduction, with total debt falling to INR 1,017 Mn as of H1-FY26. For the 9M-FY26 period, PAT grew 8.1% YoY to INR 560 Mn on stable revenue of INR 4,491 Mn.
Key Highlights
Q3-FY26 PAT grew 22.1% YoY to INR 182 Mn, while EBITDA rose 12.4% to INR 326 Mn.
EBITDA margins expanded by 491 bps YoY to 22.83% due to focus on fine and value-added ropes.
Revenue for Q3 fell 11.7% YoY to INR 1,428 Mn as volumes decreased to 10,058 MT.
Total debt significantly reduced to INR 1,017 Mn as of H1-FY26 from INR 1,817 Mn in FY23.
Exports continue to dominate the revenue mix, accounting for 73% of total sales across 55+ countries.
👀 What to Watch
Investors should view the margin expansion and debt reduction as positive indicators of operational efficiency. The stock remains a watch for whether the shift to value-added products can eventually drive volume growth alongside profitability.
Bharat Wire Ropes Statutory Auditor CNK & Associates Resigns Over Audit Fee Disagreement
M/s. CNK & Associates LLP has resigned as the Statutory Auditor of Bharat Wire Ropes Limited effective February 9, 2026. The resignation follows a disagreement over audit fees, where the company declined a fee increase requested by the auditor on January 14, 2026. The outgoing auditor has already completed the limited review for the quarter and nine months ended December 31, 2025. The company and the auditor have confirmed there are no material concerns or issues regarding management.
Key Highlights
M/s. CNK & Associates LLP resigned as Statutory Auditor effective February 9, 2026
Resignation triggered by the company's inability to increase audit fees as requested by the firm
Auditors completed the limited review for the period ended December 31, 2025, before resigning
The auditor's original term was scheduled to last until the Annual General Meeting in 2030
No material reasons or management concerns were cited by the resigning auditor
👀 What to Watch
Investors should monitor the company's announcement regarding the appointment of a new statutory auditor to fill the casual vacancy. Since the resignation is due to commercial fee negotiations rather than financial irregularities, it is not a major red flag.
Bharat Wire Ropes Q3 Net Profit Rises 22.6% YoY to ₹18.25 Cr; Revenue Declines 11.7%
Bharat Wire Ropes reported a Net Profit of ₹18.25 crore for Q3 FY26, a 22.6% increase compared to ₹14.88 crore in Q3 FY25. However, Revenue from Operations saw a decline of 11.7% YoY, falling to ₹142.82 crore from ₹161.82 crore. The profit growth was primarily driven by a sharp reduction in raw material costs, which fell by over 23% YoY. Sequentially, both revenue and net profit declined compared to Q2 FY26, indicating some quarterly pressure.
Key Highlights
Net Profit grew 22.6% YoY to ₹18.25 crore in Q3 FY26.
Revenue from Operations declined 11.7% YoY to ₹142.82 crore.
Cost of Materials Consumed dropped significantly to ₹71.12 crore from ₹93.16 crore YoY.
9M FY26 Net Profit reached ₹55.90 crore, up from ₹51.79 crore in 9M FY25.
EPS for the quarter stood at ₹2.66 versus ₹2.18 in the previous year's quarter.
👀 What to Watch
While the margin expansion due to lower input costs is positive, the double-digit revenue decline warrants caution. Investors should monitor management commentary on demand outlook and volume growth before increasing positions.
Bharat Wire Ropes Q3 Net Profit Rises 22.6% YoY to ₹18.25 Cr Despite Revenue Contraction
Bharat Wire Ropes Limited reported a mixed performance for the quarter ended December 31, 2025. While Net Profit grew 22.6% year-on-year to ₹18.25 crore, it witnessed a 17.2% decline on a sequential (QoQ) basis. Revenue from operations faced pressure, falling 11.7% YoY to ₹142.82 crore. The company also accounted for a one-time impact of ₹1.88 crore in employee expenses due to the new Labour Codes, which slightly weighed on the bottom line.
Key Highlights
Net Profit for Q3 FY26 stood at ₹18.25 crore, up from ₹14.88 crore in Q3 FY25.
Revenue from Operations declined to ₹142.82 crore compared to ₹161.82 crore in the corresponding quarter last year.
Profit Before Tax (PBT) improved YoY to ₹24.40 crore from ₹20.06 crore, aided by lower raw material costs.
A provision of ₹188.35 lakhs was recognized under employee benefits to account for the impact of new Labour Codes.
Basic and Diluted EPS for the quarter was ₹2.66, an increase from ₹2.18 in the previous year's same quarter.
👀 What to Watch
Investors should exercise caution as the significant YoY and QoQ revenue decline suggests potential demand headwinds or pricing pressure. Monitor management's commentary on volume growth and the sustainability of current margins in upcoming quarters.
Bharat Wire Ropes Promoters Acquire 1,124 CCPS from EXIM Bank
Promoters and investors of Bharat Wire Ropes have purchased 1,124 unlisted Compulsorily Convertible Preference Shares (CCPS) from Export-Import Bank of India via an off-market transaction. These instruments were originally part of a 38,266 CCPS pool issued to a consortium of banks in FY 2020-21 to convert Rs 382.66 crores of debt. While this specific transaction does not change the current paid-up capital, it reflects a consolidation of holdings by the promoters from institutional lenders. This move is generally seen as a sign of promoter confidence in the company's long-term resolution and growth.
Key Highlights
Promoters and investors acquired 1,124 unlisted CCPS from EXIM Bank through an off-market deal.
The CCPS were part of a Rs 382.66 crore debt-to-equity conversion plan sanctioned in FY 2020-21.
A total of 38,266 CCPS were originally allotted to a consortium of banks during the resolution process.
The acquisition results in no immediate change to the company's total paid-up capital.
The transaction indicates promoters are buying back instruments previously held by lenders.
👀 What to Watch
Investors should view this as a positive signal of promoter commitment, though they should remain aware of future equity dilution when these CCPS are eventually converted.
