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Plaza Wires Limited (PLAZACABLE)

₹57.36 +2.67% last close, 16 Oct

📊 NSE: PLAZACABLE 🏢 Cables - Power 📢 Latest filing: 07 Sep 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Plaza Wires' revenue was ₹90.2 Cr (+38.1% year on year, -19.1% on the previous quarter), and net profit ₹4.5 Cr (+316.5% year on year); the operating margin was 8.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹90.2	+38.1%	-19.1%
Operating profit	₹7.9	+189.7%	+12.2%
Net profit	₹4.5	+316.5%	+15.0%
EPS (₹)	1.03	+312.0%	+15.7%
Operating margin	8.7%	—	—

Full quarterly financials → Results calendar →

PLAZACABLE delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 48.61% of the PLAZACABLE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 59.76%. That is lower than usual for this stock. Turnover was only ₹26 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal. It closed at a price band (circuit) on 3 sessions in about the last 20.

48.61%Delivery, 16 Oct

59.76%Own 20-session average

0.5×Volume vs its average

₹57.36NSE close · +2.67%

Delivery in the last 5 sessions: 59.9% · 58.3% · 73.3% · 61.4% · 48.6%

Delivery across the market →Circuit stocks →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Plaza Wires Schedules 20th AGM on Sept 29, 2026; Re-appoints CMD & Executive Directors

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 05:28 PM

Plaza Wires Limited has issued notice for its 20th Annual General Meeting (AGM) to be held on September 29, 2026, via video conferencing. Key agenda items include the adoption of FY26 financial statements and the re-appointment of CMD Sanjay Gupta, Whole Time Director Sonia Gupta, and Whole Time Director Abhishek Gupta for 5-year terms (March 10, 2027 to March 9, 2032) with no increase in remuneration. The cut-off date for remote e-voting eligibility is September 23, 2026.

20th AGM scheduled for Tuesday, September 29, 2026 at 12:30 PM IST via video conferencing
Cut-off date for e-voting eligibility fixed as September 23, 2026; e-voting window open September 26–28, 2026
Book closure period set from September 24, 2026 to September 29, 2026
Shareholder approval sought for 5-year re-appointments (March 2027 to March 2032) of Sanjay Gupta (CMD), Sonia Gupta (WTD), and Abhishek Gupta (WTD) without pay revisions

💡 Eligible shareholders holding shares as of September 23, 2026 can cast their votes via remote e-voting between September 26 and September 28, 2026, or attend the AGM on September 29, 2026.

Plaza Wires Schedules 20th AGM for Sept 29, 2026; Re-appoints Promoter Directors for 5 Years

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Sep 2026, 03:43 PM

Plaza Wires Limited has issued the notice for its 20th Annual General Meeting (AGM) to be held on September 29, 2026, via video conferencing. The key agenda items include adopting the FY26 audited standalone financial statements and the re-appointment of core executive directors—Mr. Sanjay Gupta (CMD), Mrs. Sonia Gupta (WTD), and Mr. Abhishek Gupta (WTD)—for a second five-year term running from March 10, 2027, to March 9, 2032. All executive director re-appointments are proposed without any increase in current remuneration. The book closure is scheduled from September 24 to September 29, 2026, with the voting cut-off set for September 23, 2026.

20th Annual General Meeting scheduled for September 29, 2026, at 12:30 PM IST via video conferencing.
Shareholder eligibility cut-off date fixed as September 23, 2026; remote e-voting runs from September 26 to September 28, 2026.
Re-appointment of Chairman and MD Sanjay Gupta and Whole Time Directors Sonia Gupta and Abhishek Gupta for 5-year terms (March 10, 2027, to March 9, 2032).
Resolutions stipulate no revision or increase in managerial remuneration for the re-appointed executive directors.

💡 Shareholders holding stock on or before September 23, 2026, can participate in remote e-voting between September 26 and September 28, 2026, on the proposed ordinary resolutions.

Plaza Wires Re-appoints CMD Sanjay Gupta and 7 Directors for 5-Year Terms

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 13 Aug 2026, 05:18 PM

The Board of Plaza Wires has approved the re-appointment of its core leadership team, including Chairman and Managing Director Sanjay Gupta, for a five-year term starting March 10, 2027. Three other executive directors from the promoter family (Sonia, Abhishek, and Aditya Gupta) and four Independent Directors were also re-appointed for five-year tenures. These appointments, subject to shareholder approval at the 20th AGM, ensure leadership continuity as the company executes its plan to scale revenue from ~₹220 Cr to over ₹300 Cr. The move maintains the current management structure during the stabilization of the company's new manufacturing capacity.

Re-appointment of Sanjay Gupta as CMD for a 5-year term effective from March 10, 2027, to March 9, 2032.
Three Whole Time Directors (Sonia, Abhishek, and Aditya Gupta) re-appointed for 5-year terms starting March 2027.
Four Independent Directors re-appointed for their second 5-year terms commencing March 11, 2027.
Management continuity secured as the company targets revenue exceeding ₹300 Cr by FY26.
All appointments are subject to shareholder approval via ordinary or special resolutions at the 20th AGM.

💡 Investors should look for the 20th Annual General Meeting (AGM) notice to confirm shareholder approval of these re-appointments and monitor execution of the capacity expansion plan.

Plaza Wires Approves Q1 FY27 Results; Re-appoints CMD and Board for 5-Year Terms

🟡 NEUTRAL ⭐ 6/10

BOARD_MEETING 📅 13 Aug 2026, 04:53 PM

Plaza Wires Limited held a board meeting on August 13, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. A significant portion of the meeting focused on leadership continuity, with the board approving the re-appointment of Mr. Sanjay Gupta as Chairman and Managing Director for a five-year term starting March 2027. Additionally, three Whole Time Directors and four Independent Directors were re-appointed for five-year terms, subject to shareholder approval at the 20th AGM. This ensures management stability as the company pursues its strategy to double manufacturing capacity and target revenue exceeding Rs 300 Cr.

Approved unaudited financial results for the quarter ended June 30, 2026
Re-appointed Mr. Sanjay Gupta as CMD for a 5-year term effective March 10, 2027
Re-appointed 3 Whole Time Directors and 4 Independent Directors for 5-year terms starting March 2027
Company maintains a revenue target of over Rs 300 Cr by FY26 through capacity doubling
Management continuity secured for the 2027-2032 period pending shareholder approval

💡 Investors should examine the detailed Q1 FY27 financial tables to assess margin performance against copper price volatility and monitor the utilization levels of the new Baddi facility.

Plaza Wires Submits Reconciliation of Share Capital Audit Report for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Jul 2026, 05:41 PM

Plaza Wires Limited has submitted its Reconciliation of Share Capital Audit Report for the quarter ended June 30, 2026, as required under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018. The report was prepared by M/s Sarika Jain & Associates, Company Secretaries, and was received by the company on July 16, 2026. This filing is a standard regulatory requirement to ensure the company's issued capital matches the shares held in dematerialized and physical forms. No specific discrepancies or changes in capital structure were noted in the cover letter.

Audit report covers the quarter ended June 30, 2026
Report received from M/s Sarika Jain & Associates on July 16, 2026
Filing submitted to NSE and BSE on July 20, 2026
Compliance maintained under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018

💡 This is a routine administrative filing. Investors should monitor upcoming quarterly financial results for insights into the company's operational performance.

Plaza Wires Submits Quarterly Compliance Certificate for June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jul 2026, 04:36 PM

Plaza Wires Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by KFIN Technologies Limited (the Registrar and Share Transfer Agent), confirms that share dematerialization and rematerialization requests for the quarter ended June 30, 2026, were processed as per regulations. This is a standard administrative filing required for all listed entities in India. It does not contain any financial performance data or material business updates.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation provided by Registrar and Share Transfer Agent, KFIN Technologies Limited
Filing submitted to both NSE and BSE on July 13, 2026
Confirms adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018

💡 No action is required as this is a routine procedural filing. Investors should monitor the company's upcoming quarterly financial results for material business updates.

Trading Window Closure from July 01, 2026, for Q1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jun 2026, 12:14 PM

Plaza Wires Limited has announced the closure of its trading window for all designated persons and their relatives starting July 01, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of unaudited financial results for the quarter ended June 30, 2026. The window will remain closed until 48 hours after the results are officially disclosed to the stock exchanges. The company has not yet specified the date for the board meeting to approve these results.

Trading window closure effective from July 01, 2026
Closure applies to the financial results for the quarter ended June 30, 2026
Restriction remains in place until 48 hours after the results are declared
Applies to all insiders, designated persons, and their immediate relatives

💡 Investors should watch for the upcoming announcement of the board meeting date, which will provide the timeline for the Q1 FY27 earnings release.

Plaza Wires Secures ₹4.82 Crore Working Capital Loan from Punjab National Bank

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 25 Jun 2026, 05:34 PM

Plaza Wires Limited has executed a loan agreement with Punjab National Bank for a Working Capital Term Loan (WCTL) of ₹4.82 Crore. The facility is granted under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 to support the company's business operations. This loan is backed by an unconditional credit guarantee from NCGTC and charges on the company's existing and newly created assets. The move is intended to provide liquidity for day-to-day operational requirements.

Total loan amount sanctioned is ₹4,81,95,000 (approximately ₹4.82 Crore)
Loan facility provided by Punjab National Bank under the ECLGS 5.0 scheme
Funds are specifically earmarked for supporting the company's business operations
Security includes an unconditional and irrevocable Credit Guarantee from NCGTC
Agreement executed on June 25, 2026, with no related party involvement

💡 Investors should view this as a routine liquidity management exercise. Monitor the company's utilization of these funds to improve operational efficiency and its impact on the overall debt-to-equity ratio.

Plaza Wires Appoints M/s BARS & CO and Deepak Mittal & Co as Auditors for FY 2026-27

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 29 May 2026, 05:29 PM

Plaza Wires Limited has announced the appointment of new auditors for the financial year 2026-27 following a board meeting on May 29, 2026. M/s BARS & CO., Chartered Accountants, has been appointed as the Internal Auditor to oversee internal controls, IFRS, and taxation. Additionally, M/s Deepak Mittal & Co. has been designated as the Cost Auditor for the same period. These appointments are routine compliance measures recommended by the Audit Committee to ensure robust financial governance.

Appointment of M/s BARS & CO. (FRN: 032460N) as Internal Auditors for the period 01.04.2026 to 31.03.2027.
Appointment of M/s Deepak Mittal & Co. (FRN: 003076) as Cost Auditors for the financial year 2026-27.
Both appointments were approved and recommended by the Audit Committee and the Board of Directors.
The company confirmed there is no inter-se relationship between the appointed auditors and the Directors of the company.
The auditors bring expertise in IFRS, taxation, GST, and corporate finance to the company's reporting framework.

💡 This is a routine regulatory update regarding annual auditor appointments. No immediate action is required, but investors should continue to monitor the company's financial disclosures for consistency in reporting.

Plaza Wires FY26 Revenue Jumps 79% to ₹31.84 Cr; Q4 Revenue Sees Sharp Sequential Decline

🔵 WATCH ⭐ 7/10

EARNINGS 📅 29 May 2026, 05:06 PM

Plaza Wires Limited reported a strong annual performance for the financial year ended March 31, 2026, with total revenue reaching ₹31.84 crore, up from ₹17.75 crore in the previous year. However, the fourth quarter (Q4) performance was weak, with revenue at ₹5.65 crore compared to ₹27.82 crore in Q3 FY26. The company is currently contesting a legal demand order, which the auditors have highlighted as an 'Emphasis of Matter'. Additionally, the board has appointed new internal and cost auditors for the upcoming financial year 2026-27.

Annual revenue for FY26 grew by 79.3% year-on-year to ₹31.84 crore.
Q4 FY26 revenue of ₹5.65 crore showed a significant decline from ₹27.82 crore in the preceding quarter.
Auditor's report includes an 'Emphasis of Matter' regarding a contested legal demand order from the Commissioner (Appeals).
BARS & Co. and Deepak Mittal & Co. appointed as Internal and Cost Auditors respectively for FY 2026-27.
Total assets as of March 31, 2026, stood at ₹18.27 crore compared to ₹16.37 crore in the previous year.

💡 Investors should seek clarity on the sharp sequential revenue drop in Q4 and monitor the progress of the legal appeal mentioned in the auditor's report.

Plaza Wires Submits Share Capital Reconciliation Audit Report for Q4 FY26

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 14 Apr 2026, 12:54 PM

Plaza Wires Limited has filed its quarterly Reconciliation of Share Capital Audit Report for the period ended March 31, 2026, as per SEBI regulations. The audit, conducted by Sarika Jain & Associates, confirms that the company's total issued capital remains at 4,37,52,078 equity shares. The report verifies that the listed capital on BSE and NSE matches the issued capital, with 100% of shares held in dematerialized form. This is a standard regulatory filing ensuring the integrity of the company's shareholding records.

Total issued and listed capital confirmed at 4,37,52,078 equity shares.
100% of the company's share capital is held in dematerialized form with CDSL.
Audit report confirms zero discrepancies between issued, listed, and depository-held capital for the quarter.
The report was prepared by Sarika Jain & Associates and submitted to exchanges on April 16, 2026.
KFin Technologies Limited continues to serve as the Registrar and Share Transfer Agent (RTA).

💡 No action is required as this is a routine compliance filing that confirms the company's share capital structure is in order.

Plaza Wires Promoters Declare Zero Pledged Shares for FY 2025-26

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 09 Apr 2026, 03:32 PM

Sanjay Gupta, the Promoter and CMD of Plaza Wires Limited, has filed a formal declaration under SEBI Takeover Regulations for the financial year ended March 31, 2026. The filing confirms that the promoter group and persons acting in concert have not created any encumbrance or pledge on their shares, directly or indirectly. Sanjay Gupta and Sonia Gupta remain the primary shareholders within the promoter group, holding 36.28% and 29.14% respectively. This routine disclosure provides transparency regarding the stability of the promoter's equity stake.

Promoters declared zero encumbrance on shares for the entire financial year ending March 31, 2026.
Sanjay Gupta holds the largest individual stake of 1,58,74,480 shares (36.28%).
Sonia Gupta holds a significant stake of 1,27,49,120 shares (29.14%).
Total promoter group entities disclosed include four individuals and three private limited companies.
Compliance confirmed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

💡 Investors can take comfort in the fact that the promoter stake is entirely unencumbered, indicating no immediate financial stress at the promoter level. No specific action is required as this is a standard annual regulatory filing.

Plaza Wires Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Mar 2026, 04:34 PM

Plaza Wires Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the financial result declaration. The window will remain closed until 48 hours after the announcement of the financial results for the quarter and year ended March 31, 2026. The company has also updated the NSDL portal to freeze the PAN of designated persons at the security level for ISIN INE0INJ01017.

Trading window closure effective from Wednesday, April 1, 2026.
Closure pertains to the financial results for the quarter and year ended March 31, 2026.
Window to reopen 48 hours after the official board meeting and result declaration.
PAN of designated persons frozen at the security level (ISIN: INE0INJ01017) per SEBI circular dated July 19, 2023.

💡 This is a routine regulatory filing and does not impact the company's fundamentals. Investors should monitor for the upcoming announcement of the board meeting date to review the Q4 and FY26 performance.

Plaza Wires Receives GST Demand Order of ₹11.5 Crore; Company to Appeal

🔴 NEGATIVE ⭐ 6/10

LEGAL 📅 20 Feb 2026, 06:11 PM

Plaza Wires Limited has received an adverse order from the Commissioner (Appeals), Central GST, upholding a total demand of ₹11.5 crore. This amount includes a tax demand of ₹5.75 crore and a matching penalty of ₹5.75 crore under Section 74 of the CGST Act. Additionally, a personal penalty of ₹50,000 has been imposed on a company director. The company has stated it will challenge this order before the higher Appellate Authority and expects a favorable outcome.

Total demand confirmed stands at ₹11.5 crore, consisting of ₹5.75 crore tax and ₹5.75 crore penalty
The order upholds a previous demand issued by the Commissioner of Central GST & Central Excise, Shimla
A personal penalty of ₹50,000 was imposed on a Director of the company
Plaza Wires intends to contest the order at the next appellate level, claiming no material impact on current operations

💡 Investors should monitor the legal proceedings as the ₹11.5 crore demand is significant for a company of this size. Watch for any mandatory pre-deposits required for the appeal which could impact short-term liquidity.

Plaza Wires Q3 Net Profit Surges 247% YoY to ₹26.9 Million

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Feb 2026, 04:11 PM

Plaza Wires Limited reported a robust performance for the quarter ended December 31, 2025, with revenue from operations growing 50.5% YoY to ₹747.08 million. Net profit witnessed a significant jump of 247%, reaching ₹26.90 million compared to ₹7.75 million in the same quarter last year. The company is currently contesting a substantial GST demand of ₹115.1 million, which includes a 100% penalty. Additionally, the company has started provisioning for the New Labour Codes, impacting employee benefit expenses by approximately ₹2.5 million this quarter.

Revenue from operations increased 50.5% YoY to ₹747.08 million in Q3 FY26.
Net Profit surged 247% YoY to ₹26.90 million from ₹7.75 million.
Earnings Per Share (EPS) improved to ₹0.66 from ₹0.23 in the corresponding previous year quarter.
Company is appealing a GST demand of ₹115.1 million (₹57.5m tax and ₹57.6m penalty) received from Shimla authorities.
A provision of ₹2.5 million was made for gratuity and compensated absences following the implementation of New Labour Codes.

💡 Investors should react positively to the strong triple-digit profit growth and healthy revenue expansion. However, the pending GST litigation of ₹115.1 million remains a key risk factor to monitor.

View All PLAZACABLE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company achieved a standalone revenue of INR 218.18 Cr in FY25, representing a growth of 9.74% compared to INR 198.81 Cr in FY24. Revenue is primarily driven by the 'Plaza Cable' brand of copper wires and cables, with the company currently operating at nearly 100% capacity.

Geographic Revenue Split

Revenue is predominantly domestic (India) with a pan-India distributor channel of 500+ dealers and 15+ branches. International expansion is in early stages, with exports to Bhutan contributing INR 0.097 Cr (less than 0.1% of total revenue) in FY25.

Profitability Margins

Profitability has faced significant pressure; Net Profit Ratio declined from 1.85% in FY24 to 1.32% in FY25. Operating margins, which historically ranged between 7-8%, dropped to 3.0-4.0% in FY24 and further to 3.1% in H1 FY25 due to IPO expenses and copper price volatility.

EBITDA Margin

Operating margin was reported at 5.0% for FY24 and 3.1% for H1 FY25, a sharp decline from historical levels. This contraction is attributed to fixed-price contracts signed during high copper price volatility and increased operational costs from capacity expansion.

Capital Expenditure

The company is doubling its manufacturing capacity through a new facility at Baddi, Himachal Pradesh. Total IPO proceeds allocated for this capital expenditure were INR 22.00 Cr, with the plant scheduled to commence operations in February 2025.

Credit Rating & Borrowing

CRISIL has reaffirmed a rating of 'CRISIL BBB-/Negative'. The negative outlook reflects concerns over weakened operating margins. Interest coverage ratio is projected to be in the range of 2.5-3.0 times for FY25, down from 4.3-4.5 times in FY24.

⚙️ Operational Drivers

Raw Materials

Copper is the primary raw material, accounting for approximately 75-80% of the total revenue cost. Other materials include PVC compounds for wire insulation.

Import Sources

Not specifically disclosed in available documents, though the company notes high sensitivity to global copper price fluctuations.

Capacity Expansion

The existing plant at Baddi is operating at full capacity (generating ~INR 198-218 Cr revenue). A new facility is being set up to double capacity, aiming to support revenue exceeding INR 300 Cr by FY26.

Raw Material Costs

Raw material costs represent 75-80% of revenue. In FY25, the company faced increased input costs which led to a 21.57% decline in Net Profit (INR 2.88 Cr in FY25 vs INR 3.68 Cr in FY24) despite higher sales.

Manufacturing Efficiency

The company is currently functioning at nearly full capacity. Manufacturing efficiency is expected to improve as the new facility stabilizes and fixed cost absorption increases with higher scale.

Logistics & Distribution

The company operates through a pan-India channel with over 15 branches and 500 dealers to manage nationwide distribution of its wire products.

📈 Strategic Growth

Expected Growth Rate

36%

Growth Strategy

Growth will be achieved by doubling manufacturing capacity with the new plant starting Feb 2025, targeting government and private projects, and expanding the distributor network. Revenue is projected to rise from ~INR 220 Cr to over INR 300 Cr in FY26.

Products & Services

Various types of copper wires and cables sold under the 'Plaza Cable' brand.

Brand Portfolio

Plaza Cable

New Products/Services

Expansion into international markets (starting with Bhutan) and potential new product variants following the capacity doubling in FY25.

Market Expansion

Targeting international markets beyond Bhutan and increasing penetration in Indian government and private infrastructure projects.

Market Share & Ranking

Not disclosed in available documents; however, the company is noted to face intense competition from unorganized players.

Strategic Alliances

The company does not have any subsidiaries, joint ventures, or associate companies as of March 31, 2025.

🌍 External Factors

Industry Trends

The industry is shifting toward organized players, but remains fragmented. Future growth is tied to infrastructure development and the stabilization of raw material costs. PWL is positioning itself by doubling capacity to capture larger project orders.

Competitive Landscape

Intense competition from both large organized players and a significant number of unorganized regional manufacturers.

Competitive Moat

Moat is based on the 'Plaza Cable' brand and a 20-year promoter track record. However, the moat is relatively narrow due to the commoditized nature of wires and intense competition from unorganized players.

Macro Economic Sensitivity

Highly sensitive to global copper prices and infrastructure spending in India. A slowdown in construction would directly reduce demand for house wires and cables.

Consumer Behavior

Increasing demand for branded, high-quality electrical wires in residential and commercial construction.

Geopolitical Risks

Global developments impacting copper supply chains and trade relations with neighboring countries like Bhutan for export growth.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with manufacturing standards for electrical components and safety norms at the Baddi facility.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 26.3% (Tax expense of INR 1.03 Cr on PBT of INR 3.91 Cr).

Legal Contingencies

The company reported no material changes or commitments affecting its financial position between the end of FY25 and the date of the Board's report.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the timely stabilization of the new manufacturing plant; a delay could result in stagnant revenues and margins dropping below 4%, significantly impacting cash accruals.

Geographic Concentration Risk

High concentration in India, with minimal (less than 1%) revenue from international markets like Bhutan.

Third Party Dependencies

High dependency on copper suppliers, as raw material constitutes 75-80% of the cost structure.

Technology Obsolescence Risk

Low risk of immediate obsolescence for copper wires, but a shift toward alternative materials or wireless technologies in specific niches could pose long-term risks.