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DGGI Issues ₹29.23 Cr GST Show Cause-Cum-Demand Notice to Ram Ratna Wires
Ram Ratna Wires Limited received a Show Cause-cum-Demand Notice from the DGGI, Surat Zonal Unit, raising a GST demand of ₹29.23 Crores along with applicable interest and penalties for FY 2020-21 to FY 2023-24. The demand represents approximately 22.8% of the company's TTM PAT (₹128 Cr) and 5.0% of its Net Worth (₹589 Cr). The company stated it is evaluating the allegations and plans to submit documentary evidence within the prescribed timeline to contest the demand, expecting no immediate operational disruption.
Confidence: HIGH
What changedThe DGGI has formally issued a ₹29.23 Cr tax show cause-cum-demand notice against the company for FY21–FY24.
Why it mattersWhile the company plans to defend the matter, any eventual adverse order could result in a one-time cash outflow/provision equal to ~22.8% of annual net profit.
GST Demand Amount: INR 29.23 CroresDemand vs TTM PAT: ~22.8%Demand vs Net Worth: ~5.0%Applicable Period: FY 2020-21 to 2023-24Communication Date: August 27, 2026
📅 Short termSentiment may see mild pressure due to legal uncertainty, though no immediate cash outflow or operational interruption is required at the show-cause stage.
📈 Long termLimited operational impact unless an adverse adjudication order forces significant tax payouts or provisioning against reserves.
⚠ Risk flags
- Potential tax and penalty liability of ₹29.23 Cr plus interest if legal contestation fails
- Protracted tax litigation timeline
Key Highlights
GST demand raised at INR 29.23 Crores plus applicable interest and penalties.
Notice pertains to a 4-year period covering FY 2020-21 to FY 2023-24.
Issued under Section 74(1) and Section 122(1)(ii) of the CGST/SGST and IGST Acts by DGGI Surat.
Demand equals ~22.8% of TTM PAT (₹128 Cr) and ~0.48% of TTM revenue (₹6,048 Cr).
👀 What to Watch
Track the outcome of the company's formal rebuttal submissions and whether the tax authority proceeds to confirm the demand into an enforceable order or provision requirement.
88.6% Revenue Growth in Q1 FY27; Copper Tubes Mix Doubles to 26%
Ram Ratna Wires reported a strong Q1 FY27 with consolidated revenue surging 88.6% YoY to ₹1,853.3 cr, driven by the commencement of the Bhiwadi unit. Operating EBITDA grew 109% YoY to ₹89.6 cr, while PAT increased 120.8% to ₹35.2 cr. A significant strategic shift is visible as the Copper Tubes & Pipes segment now contributes 26% of revenue, up from 14% in the previous year. The company is currently executing a 3,600 MTPA expansion at Silvassa, targeted for completion by March 2027.
Confidence: HIGH
What changedThe company has successfully operationalized its Bhiwadi facility and significantly increased the revenue contribution from higher-value copper tubes.
Why it mattersThe shift towards copper tubes and renewable energy components (via Tefabo) reduces reliance on the traditional winding wire market and targets higher-growth sectors like HVAC and solar.
Q1 FY27 Revenue: ₹1,853.3 crYoY Revenue Growth: 88.6%Copper Tubes Revenue Share: 26%Silvassa Expansion Capacity: 3,600 MTPAQ1 FY27 PAT: ₹35.2 crQ1 Revenue vs TTM Revenue: ~35.8%
📅 Short termPositive sentiment is expected as the company demonstrates massive scale-up in revenue and profit following recent capacity additions.
📈 Long termStructural growth is supported by diversification into renewable energy fabrication and HVAC components, though margin stability depends on copper price management.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High dependency on copper price stability
- Low capacity utilization in Copper Tubes (45%)
- High Debt/Equity ratio of 1.07
Key Highlights
Revenue for Q1 FY27 reached ₹1,853.3 cr, an 88.6% increase over Q1 FY26.
Net Profit (PAT) surged by 120.8% YoY to ₹35.2 cr from ₹15.9 cr.
Copper Tubes & Pipes segment revenue share increased from 14% to 26% YoY.
Ongoing capex to add 3,600 MTPA capacity at Silvassa by March 2027.
Capacity utilization for Winding Wires & Strips stands at ~76%, while Copper Tubes is at ~45%.
👀 What to Watch
Monitor the ramp-up of the Copper Tubes segment and the utilization levels at the new Bhiwadi facility. Watch for the timely commissioning of the 3,600 MTPA Silvassa expansion in March 2027 to sustain growth momentum.
121% PAT Growth: Ram Ratna Wires Reports Strong Q1 FY27 Results with ₹1,853 Cr Revenue
Ram Ratna Wires reported a robust 88.6% YoY revenue growth to ₹1,853.3 Cr for Q1 FY27, driven by strong demand in end-user industries. Profit After Tax (PAT) surged 120.8% YoY to ₹35.2 Cr, although it saw a slight sequential decline from ₹39.2 Cr in Q4 FY26. A significant highlight is the Copper Tubes segment, which now contributes 26% of total revenue, up from previous levels. While EBITDA margins improved 40 bps YoY to 4.8%, they remain thin, reflecting the company's price-taker model regarding raw material fluctuations.
Confidence: HIGH
What changedThe company has achieved a significant scale-up in operations, nearly doubling its quarterly revenue YoY and increasing the revenue share of its diversified copper tubes segment.
Why it mattersThe strong growth indicates the company is successfully capturing demand from India's electrification and infrastructure sectors, though the thin 4.8% EBITDA margin remains a structural constraint.
Q1 FY27 Revenue: ₹1,853.3 CrYoY Revenue Growth: 88.6%Q1 FY27 PAT: ₹35.2 CrCopper Tubes Revenue Share: 26%Q1 Revenue vs TTM Revenue: ~35.8%
📅 Short termThe stock is likely to react positively to the massive YoY growth in both revenue and profitability, despite the slight sequential dip in PAT.
📈 Long termLong-term value depends on the company's ability to transition from a low-margin winding wire manufacturer to a provider of higher-value components for the renewable energy and EV sectors.
⚠ Risk flags
- Thin EBITDA margins (4.8%)
- High Debt-to-Equity ratio (1.07)
- Sensitivity to global copper price fluctuations
Key Highlights
Revenue from operations increased 88.6% YoY to ₹1,853.3 Cr.
Profit After Tax (PAT) grew by 120.8% YoY to ₹35.2 Cr.
Copper Tubes business contribution reached 26% of total revenue.
Operating EBITDA rose 109% YoY to ₹89.6 Cr.
EBITDA margin expanded to 4.8% from 4.4% in the same quarter last year.
👀 What to Watch
Investors should monitor the impact of copper price volatility on these thin margins and track the progress of the Bhiwadi facility expansion to see if it further boosts the top line.
91% Revenue Growth in Q1 FY27; PAT Surges 152% YoY to ₹36.7 Cr
Ram Ratna Wires reported a robust Q1 FY27 with standalone revenue jumping 90.7% YoY to ₹1,831.99 Cr. Net profit followed suit, increasing 152.5% YoY to ₹36.72 Cr, driven by strong performance in both core winding wires and the copper tubes segment. The copper tubes and pipes segment showed exceptional growth, with revenue rising from ₹137.39 Cr to ₹489.98 Cr YoY. While growth is strong, finance costs nearly doubled to ₹30.36 Cr, and the company is awaiting clarity on the financial impact of new Extended Producer Responsibility (EPR) regulations.
Confidence: HIGH
What changedThe company has significantly scaled its operations in Q1 FY27, particularly in the copper tubes segment, leading to a substantial jump in both top-line and bottom-line figures compared to the previous year.
Why it mattersThe results demonstrate successful capacity utilization and market expansion, although the business remains sensitive to copper price volatility and rising interest costs.
Revenue (Q1 FY27): ₹1,831.99 CrPAT (Q1 FY27): ₹36.72 CrYoY Revenue Growth: 90.7%Copper Tubes Segment Revenue: ₹489.98 CrFinance Costs: ₹30.36 Cr
📅 Short termThe stock is likely to react positively to the strong YoY growth in revenue and profitability.
📈 Long termThe company's expansion into renewable energy components and the Rajasthan region via the Bhiwadi facility provides a structural growth path, though it remains a price-taker in the copper market.
⚠ Risk flags
- High sensitivity to copper price fluctuations
- Unquantified financial impact of new EPR regulations
- Rising finance costs impacting net margins
Key Highlights
Standalone Revenue from Operations grew 90.7% YoY to ₹1,831.99 Cr from ₹960.40 Cr.
Standalone Net Profit increased 152.5% YoY to ₹36.72 Cr compared to ₹14.54 Cr in the previous year.
Copper tubes and pipes segment revenue surged 256% YoY to ₹489.98 Cr.
Finance costs increased 97% YoY to ₹30.36 Cr, indicating higher working capital requirements.
Basic EPS for the quarter stood at ₹3.93, up from ₹1.56 in Q1 FY26 (restated for 1:1 bonus issue).
👀 What to Watch
Monitor the sustainability of the high-growth trajectory in the copper tubes segment and the operationalization of the CPCB's EPR portal, which will determine future regulatory costs.
₹2.50 Dividend: Ram Ratna Wires Sets July 22, 2026, as Record Date
Ram Ratna Wires has fixed July 22, 2026, as the record date for a final dividend of ₹2.50 per equity share for FY 2025-26. This dividend represents 50% of the face value of ₹5.00. Based on the TTM EPS of ₹15.41, the payout ratio stands at approximately 16.2%. The dividend is subject to shareholder approval at the ensuing AGM and will be paid on or before September 01, 2026.
Confidence: HIGH
What changedThe company has established the specific timeline (Record Date) for the distribution of its previously recommended final dividend for the 2025-26 financial year.
Why it mattersIt confirms the cash return to shareholders; the modest payout ratio of ~16% indicates the company is retaining a significant portion of earnings to fund its expansion into the Rajasthan region and renewable energy fabrication.
Dividend per share: ₹2.50Face Value: ₹5.00Record Date: July 22, 2026Dividend Payout Ratio (TTM): 16.22%Dividend Yield: 0.60%
📅 Short termThe stock price may adjust by the dividend amount on the ex-dividend date (typically one day prior to the record date).
📈 Long termLimited structural impact as this is a routine dividend; long-term value depends on the execution of the Bhiwadi facility and Tefabo acquisition integration.
Key Highlights
Final dividend of ₹2.50 per equity share recommended for FY 2025-26
Record date for determining eligibility fixed as July 22, 2026
Dividend represents 50% of the face value of ₹5.00 per share
Payment to be completed on or before September 01, 2026, post-AGM approval
👀 What to Watch
Investors must hold the shares before the ex-dividend date to qualify for the payout. Monitor the upcoming AGM for updates on the Bhiwadi facility expansion and renewable energy segment growth.
Ram Ratna Wires FY26 PAT Jumps 54.7% to ₹108.6 Cr; Revenue Crosses ₹5,100 Cr Mark
Ram Ratna Wires reported a robust performance for FY26, with annual revenue growing 40.8% YoY to ₹5,176.6 crore and PAT increasing 54.7% to ₹108.6 crore. The company's strategic shift towards higher-margin Copper Tubes & Pipes is yielding results, with that segment's revenue share rising from 14% to 22%. Operational efficiency improved significantly, with ROCE reaching 25.1% and ROE at 20.9%. The board has also doubled the dividend to ₹5.0 per share, reflecting strong cash flows and confidence in future growth.
Key Highlights
Consolidated Revenue for FY26 grew by 40.8% YoY to ₹5,176.6 crore, driven by volume growth and segment diversification.
Operating EBITDA surged 68.7% YoY to ₹263.6 crore, with margins improving from 4.3% to 5.1%.
Copper Tubes & Pipes segment revenue share increased to 22% in FY26 from 14% in FY25, positioning the company for long-term growth.
Return on Capital Employed (ROCE) improved to 25.1% in FY26 compared to 22.4% in the previous year.
Successfully commenced production at the Bhiwadi unit and completed the merger of Global Copper Pvt Ltd into the company.
👀 What to Watch
Investors should consider the strong earnings growth and margin expansion as a sign of successful capacity utilization and product mix optimization. The company's focus on import substitution in the HVAC sector makes it a compelling long-term play in the electrical components space.
Ram Ratna Wires Q4 FY26 PAT Jumps 110% YoY to ₹39.2 Cr; Revenue Up 83%
Ram Ratna Wires reported a stellar performance for Q4 FY26, with revenue growing 83.2% YoY to ₹1,752.9 crore. The company's profitability saw even stronger growth, with PAT surging 110.2% YoY to ₹39.2 crore and EBITDA margins expanding to 5.3%. For the full year FY26, revenue crossed the ₹5,000 crore mark, reaching ₹5,176.6 crore, while return ratios remained healthy with ROCE at 25%. The growth was driven by a strategic shift in product mix, specifically the increasing contribution of high-margin copper tubes and pipes.
Key Highlights
Q4 FY26 Revenue grew 83.2% YoY to ₹1,752.9 Cr, while FY26 Revenue rose 40.8% to ₹5,176.6 Cr.
Net Profit (PAT) for Q4 FY26 more than doubled, increasing 110.2% YoY to ₹39.2 Cr.
EBITDA margins improved to 5.3% in Q4 FY26 compared to 4.7% in the same quarter last year.
Contribution from Copper Tubes and Pipes segment increased significantly from 14% to 22% of the mix.
Return on Capital Employed (ROCE) and Return on Equity (ROE) stood at ~25% and ~21% respectively for FY26.
👀 What to Watch
The stock shows strong growth momentum and improving product mix; investors should monitor the progress of the Inner Grooved Tubes (IGT) expansion and EV segment traction.
Ram Ratna Wires Recommends ₹2.50 Dividend; FY26 Revenue Surges 40% to ₹5,076 Cr
Ram Ratna Wires reported a strong financial performance for FY26, with annual revenue from operations growing 40% to ₹5,07,611 Lakhs. The Board has recommended a dividend of ₹2.50 per share (50% of face value), subject to shareholder approval at the AGM on August 04, 2026. Quarterly revenue for Q4 FY26 saw a significant jump of 85% year-on-year to ₹1,72,480 Lakhs. However, investors should monitor a significant tax demand of ₹6,790.77 Lakhs plus interest, which is currently under appeal.
Key Highlights
Recommended a dividend of ₹2.50 per equity share (50% of face value of ₹5) for FY26
Annual Revenue from Operations grew 40% YoY to ₹5,07,610.97 Lakhs in FY26
Q4 FY26 Revenue stood at ₹1,72,479.99 Lakhs, an 85% increase over Q4 FY25
Auditors highlighted a pending tax demand of ₹6,790.77 Lakhs excluding interest of ₹3,149.05 Lakhs
The 34th Annual General Meeting (AGM) is scheduled for August 04, 2026
👀 What to Watch
Investors should capitalize on the strong top-line growth and dividend yield while keeping a close watch on the resolution of the ₹99 crore tax dispute. The significant revenue jump in Q4 suggests strong demand momentum in the wires and cables segment.
Ram Ratna Wires FY26 Revenue Jumps 40% to ₹5,076 Cr; Recommends ₹2.50 Dividend
Ram Ratna Wires reported a strong financial performance for FY26, with annual revenue from operations growing 40% YoY to ₹5,076.11 crore. The Board has recommended a final dividend of ₹2.50 per share, representing a 50% payout on face value. However, investors should note an emphasis of matter regarding a significant tax demand of ₹67.91 crore (excluding interest) currently under appeal. The company also saw a sharp increase in quarterly revenue, which rose to ₹1,724.80 crore in Q4 FY26 compared to ₹931.95 crore in the same period last year.
Key Highlights
Annual Revenue from Operations grew 40.1% YoY to ₹5,076.11 crore in FY26
Recommended a final dividend of ₹2.50 per equity share (50% of face value)
Q4 FY26 revenue surged to ₹1,724.80 crore from ₹931.95 crore in Q4 FY25
Auditors highlighted a pending tax demand of ₹67.91 crore plus ₹31.49 crore interest
Annual General Meeting (AGM) scheduled for August 04, 2026
👀 What to Watch
Investors should monitor the outcome of the tax appeals as the demand is substantial; however, the strong top-line growth suggests robust demand for the company's products.
Ram Ratna Wires to Expand Capacity by 3,600 MT with Rs 86 Crore Investment
Ram Ratna Wires has approved a capital expenditure of approximately Rs 86 Crores for capacity expansion and process enhancement at its Silvassa manufacturing units. The company aims to add 3,600 MT/Annum to its existing capacity of 45,500 MT/Annum to meet rising demand. With current capacity utilization at 80%, this expansion is a strategic move to prevent supply bottlenecks. The project is expected to be completed by March 2027 and will be funded through a mix of internal accruals and debt.
Key Highlights
Proposed capacity addition of 3,600 MT/Annum to the existing base of 45,500 MT/Annum.
Total investment of approximately Rs 86 Crores allocated for expansion and infrastructure development.
Current capacity utilization stands at a healthy 80%, necessitating the expansion.
Project completion timeline set for within 12 months, targeting March 2027.
Funding strategy involves a combination of internal accruals and debt financing.
👀 What to Watch
Investors should view this as a positive growth signal indicating strong demand for the company's products. Monitor the debt-to-equity ratio as the company takes on new debt to fund this expansion.
Ram Ratna Wires 9M FY26 Revenue Grows 26% to ₹3,424 Cr; EBITDA Surges 54%
Ram Ratna Wires (RRWL) reported a strong 9M FY26 performance with consolidated revenue increasing 25.9% YoY to ₹3,423.8 crore and PAT rising 34.6% to ₹69.4 crore. The company is aggressively expanding its copper tube capacity from 600 MTPM to 3,000 MTPM at its new Bhiwadi facility to target import substitution. RRWL has committed ₹253 crore under the PLI scheme for white goods and is diversifying into high-margin segments like BLDC motors and wind energy tower internals.
Key Highlights
9M FY26 Revenue grew 25.9% YoY to ₹3,423.8 crore, while EBITDA surged 53.6% to ₹170.4 crore.
Copper tube capacity is being expanded 5x from 600 MTPM to 3,000 MTPM at the new Bhiwadi plant.
Committed investment of ~₹253 crore under the PLI scheme for Air Conditioners (White Goods).
Acquired a 64% stake in Tefabo Product Pvt Ltd, capturing 30-40% market share in wind turbine tower internals.
Maintained a healthy ROCE of 21.5% with a 5-year PAT CAGR of 37%.
👀 What to Watch
Investors should monitor the ramp-up of the Bhiwadi plant and the execution of PLI-linked projects, which are expected to drive higher margins. The company's strategic shift toward value-added products like copper foils and BLDC motors makes it a strong play on the 'Make in India' and EV themes.
Ram Ratna Wires Receives ₹10.22 Crore Income Tax Demand for AY 2024-25
Ram Ratna Wires Limited has received an assessment order from the Income Tax Department for the Assessment Year 2024-25. The order raises a total tax demand of ₹10.22 Crores, which includes an interest component of ₹1.94 Crores. The company has identified computational and clerical errors in the order and plans to file for rectification. Additionally, the management intends to appeal against the additions made to the assessed income and does not expect a material impact on operations at this stage.
Key Highlights
Income Tax Department raised a demand of ₹10.22 Crores for AY 2024-25.
The total demand includes an interest component of ₹1.94 Crores.
The order was issued under Section 143(3) of the Income Tax Act, 1961.
Company plans to file for rectification of clerical errors and appeal the assessed additions.
Management claims no immediate material impact on financials or operations.
👀 What to Watch
Investors should monitor the progress of the company's appeal and rectification filing to see if the demand is reduced. While the company is contesting the order, the ₹10.22 Crore demand should be tracked as a potential liability against future earnings.
Ram Ratna Wires Reports Strong Q3 FY26 with 72.5% PAT Growth and 43.8% Revenue Surge
Ram Ratna Wires Limited (RAMRAT) delivered a robust financial performance for Q3 FY26, with consolidated revenue rising 43.8% YoY to ₹1,277.9 crore. Operating EBITDA surged 84.9% YoY to ₹72.0 crore, driven by improved margins which expanded from 4.4% to 5.6%. The company's strategic shift towards high-margin Copper Tubes & Pipes is evident, with the segment's revenue share increasing to 27% from 17% a year ago. Despite a ₹3.6 crore exceptional item for labor code adjustments, PAT grew 72.5% YoY to ₹31.6 crore.
Key Highlights
Q3 FY26 Revenue from operations stood at ₹1,277.9 crore, up 43.8% YoY and 9.8% QoQ.
Operating EBITDA for Q3 FY26 grew 84.9% YoY to ₹72.0 crore, with EBITDA margins improving to 5.6%.
Copper Tubes & Pipes segment revenue share jumped to 27% in Q3 FY26, up from 17% in Q3 FY25.
Bhiwadi facility scaled to 24,000 MTPA; total copper tube capacity targeted at 36,000 MTPA by FY26.
9M FY26 PAT reached ₹69.4 crore, a 34.6% increase compared to ₹51.5 crore in 9M FY25.
👀 What to Watch
Investors should monitor the successful ramp-up of the Bhiwadi facility and the company's ability to sustain higher margins as the product mix shifts toward copper tubes. The strong growth in the HVAC and OEM segments provides a positive outlook for long-term value creation.
Ram Ratna Wires Q3 FY26 PAT Surges 72.5% YoY to ₹31.6 Cr; Revenue Up 43.8%
Ram Ratna Wires reported a robust performance for Q3 FY26, with consolidated revenue growing 43.8% YoY to ₹1,277.9 Cr. Profit After Tax (PAT) saw a significant jump of 72.5% YoY to ₹31.6 Cr, driven by higher demand in the copper tubes segment. Operating EBITDA margins improved to 5.6% from 4.4% in the previous year, reflecting better operational efficiency. The copper tubes segment now contributes 27% to the total revenue, up from 17% last year, signaling a successful shift towards high-margin products.
Key Highlights
Q3 FY26 Revenue grew 43.8% YoY to ₹1,277.9 Cr compared to ₹888.7 Cr in Q3 FY25.
Operating EBITDA surged 84.9% YoY to ₹72.0 Cr, with margins expanding to 5.6% from 4.4%.
PAT for the quarter increased 72.5% YoY to ₹31.6 Cr from ₹18.3 Cr.
Copper tubes revenue contribution rose significantly to 27% from 17% YoY, driven by HVAC industry demand.
9M FY26 Revenue and PAT grew by 25.9% and 34.6% respectively compared to the same period last year.
👀 What to Watch
Investors should view this as a strong growth signal, particularly given the margin expansion and the increasing contribution of the high-growth copper tube segment. Monitor the progress of Inner Grooved Tube (IGT) manufacturing as a future growth catalyst.
Ram Ratna Wires Appoints Iqbal Singh Saggu as CFO Effective April 1, 2026
Ram Ratna Wires Limited has announced a leadership transition in its finance department effective April 01, 2026. Mr. Iqbal Singh Saggu, a Chartered Accountant with over 23 years of experience in treasury and M&A, will take over as the new Chief Financial Officer. The outgoing CFO, Mr. Rajeev Maheshwari, who has been with the company for 14 years, will transition to the role of Senior Vice President (Accounts & Taxation). This planned succession ensures continuity as both individuals will remain within the senior management team.
Key Highlights
Mr. Iqbal Singh Saggu appointed as CFO and Senior VP (Finance) effective April 1, 2026
Outgoing CFO Mr. Rajeev Maheshwari to move to Senior VP (Accounts & Taxation) role
New CFO brings over 23 years of experience in treasury, M&A, and plant finance operations
The transition follows a board meeting held on February 06, 2026, based on NRC recommendations
👀 What to Watch
Investors should view this as a routine leadership transition aimed at leveraging specialized expertise. No immediate action is required as the outgoing CFO remains with the company to ensure a smooth handover.
Ram Ratna Wires Appoints Iqbal Singh Saggu as CFO; Rajeev Maheshwari Transitions to Senior VP
Ram Ratna Wires has announced a strategic leadership transition effective April 1, 2026. The current CFO, Shri Rajeev Maheshwari, who has been with the company for 14 years, will transition to the role of Senior Vice President (Accounts & Taxation). He will be succeeded by Shri Iqbal Singh Saggu, a Chartered Accountant with over 23 years of experience in treasury, M&A, and fundraising. This planned transition ensures continuity while bringing in new expertise for potential capital structuring and growth initiatives.
Key Highlights
Shri Iqbal Singh Saggu appointed as CFO and KMP effective April 1, 2026, bringing 23+ years of experience.
Current CFO Shri Rajeev Maheshwari transitions to Senior VP (Accounts & Taxation) after 14 years of service.
New CFO has specialized expertise in Mergers & Acquisitions (M&A) and fundraising activities.
The transition is scheduled for the start of the 2026-27 financial year to ensure a smooth handover.
👀 What to Watch
Investors should view this as a routine and planned management transition. Monitor if the new CFO's background in M&A and fundraising leads to any new strategic growth or capital expansion plans in the future.
Ram Ratna Wires Q3 PAT Jumps 75.6% YoY to ₹32.1 Cr; Revenue Up 42%
Ram Ratna Wires Limited reported a robust performance for the quarter ended December 31, 2025, with revenue from operations growing 42% YoY to ₹1,249.6 crore. Net profit surged by 75.6% YoY to ₹32.1 crore, driven by exceptional growth in the copper tubes and pipes segment. The company also announced a transition in its finance leadership, with Iqbal Singh Saggu appointed as the new CFO effective April 1, 2026. Despite a one-time exceptional charge of ₹3.33 crore for labor code impacts, the overall profitability remained strong.
Key Highlights
Revenue from operations grew 42% YoY to ₹1,249.6 crore in Q3 FY26.
Net Profit (PAT) increased by 75.6% YoY to ₹32.1 crore compared to ₹18.3 crore in Q3 FY25.
Copper tubes and pipes segment revenue more than doubled, reaching ₹361.2 crore from ₹150.4 crore YoY.
Earnings Per Share (EPS) improved significantly to ₹3.45 from ₹1.96 in the year-ago period.
Iqbal Singh Saggu appointed as CFO effective April 2026, replacing Rajeev Maheshwari who moves to a Senior VP role.
👀 What to Watch
The company is showing strong growth momentum, particularly in the copper tubes segment which is diversifying its revenue base. Investors should view this performance positively while keeping an eye on the smooth transition of the new CFO in April.
Ram Ratna Wires Allots 4.66 Crore Bonus Equity Shares in 1:1 Ratio
Ram Ratna Wires Limited has completed the allotment of 4,66,74,536 bonus equity shares following its board meeting on December 29, 2025. The bonus issue was executed in a 1:1 ratio for shareholders who held shares on the record date of December 26, 2025. This move has doubled the company's paid-up equity capital to ₹46.67 crore, represented by 9.33 crore shares. The new shares will rank equally with existing shares and are expected to enhance the stock's liquidity in the secondary market.
Key Highlights
Allotted 4,66,74,536 bonus equity shares of ₹5 face value each.
Bonus ratio of 1:1 implemented for shareholders as of the Dec 26, 2025 record date.
Post-allotment paid-up capital increased to ₹46,67,45,360 from ₹23,33,72,680.
Total number of equity shares increased to 9,33,49,072.
New shares rank pari-passu with existing shares for all future corporate benefits.
👀 What to Watch
Investors should note the increase in share count and the corresponding price adjustment in their portfolios. No further action is required as the allotment process is now complete.
Ram Ratna Wires Approves Bonus Issue & Increases Authorized Capital to Rs 50 Crore
Ram Ratna Wires Limited has successfully passed resolutions via postal ballot to issue bonus equity shares and increase its authorized share capital. The authorized capital is now set at Rs 50 crore, comprising 10 crore shares of Rs 5 each. The resolutions received near-unanimous support, with over 99.99% of votes cast in favor. This corporate action is intended to reward existing shareholders and enhance the stock's liquidity in the market.
Key Highlights
Approval for Bonus Equity Shares passed with 99.9996% of total valid votes in favor.
Authorized Share Capital increased to Rs 50 crore, divided into 10 crore shares of Rs 5 each.
Total of 3,43,40,649 votes were cast in favor of the bonus issue resolution.
The resolutions are deemed approved as of the final e-voting date, December 18, 2025.
👀 What to Watch
Shareholders should monitor for the official announcement of the record date to qualify for the bonus shares. While the number of shares held will increase, the share price will adjust downward proportionally on the ex-bonus date.
