Precision Wires India Limited (PRECWIRE)
₹445.25 +0.46% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Precision Wires' revenue was ₹1,779 Cr (+59.4% year on year, +0.9% on the previous quarter), and net profit ₹46.5 Cr (+72.0% year on year); the operating margin was 4.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1,779 | +59.4% | +0.9% |
| Operating profit | ₹84.6 | +43.5% | -18.6% |
| Net profit | ₹46.5 | +72.0% | -15.5% |
| EPS (₹) | 2.54 | +67.1% | -15.3% |
| Operating margin | 4.8% | — | — |
PRECWIRE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 36.21% of the PRECWIRE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 35.29%. That is close to its usual level.
Delivery in the last 5 sessions: 43.6% · 27.7% · 37.2% · 48.7% · 36.2%
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
Precision Wires India Limited has acquired approximately 2 acres of land at Village Zaroli, Taluka Umbergaon, District Valsad, Gujarat. The total acquisition cost is about ₹3.60 crore (rounded off), inclusive of stamp duty and registration charges. Relative to the company's financial profile, the purchase price represents roughly 0.47% of net worth (₹772 crore) and 0.37% of TTM revenue (₹979 crore). While the land acquisition supports potential operational footprint additions, specific manufacturing or capex plans for the parcel were not disclosed in the filing.
- Purchased approx. 2 acres of land at Village Zaroli, Umbergaon, Valsad, Gujarat
- Total consideration of about ₹3.60 crores (rounded off) inclusive of stamp duty and registration
- Professional charges, fees, and expenses to be extra as applicable
- Transaction represents ~0.47% of net worth (₹772 cr) and ~0.37% of TTM revenue (₹979 cr)
Precision Wires India Limited has submitted its Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018. The report covers the quarter and half-year ended September 30, 2026. It was audited and certified by practicing company secretary M/s Ragini Chokshi & Associates. The filing is a standard quarterly compliance requirement verifying that the company's issued, listed, and dematerialised share capital reconcile.
- Reconciliation of Share Capital Audit Report submitted for the quarter and half year ended September 30, 2026
- Compliance filing executed pursuant to Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018
- Audit certified by M/s Ragini Chokshi & Associates, Practicing Company Secretaries, on October 7, 2026
- Share transfer records maintained by Registrar MUFG Intime India Private Limited
Precision Wires India Limited has submitted its Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018. The report covers the quarter and half-year ended September 30, 2026. It was audited and certified by practicing company secretary M/s Ragini Chokshi & Associates. The filing is a standard quarterly compliance requirement verifying that the company's issued, listed, and dematerialised share capital reconcile.
- Reconciliation of Share Capital Audit Report submitted for the quarter and half year ended September 30, 2026
- Compliance filing executed pursuant to Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018
- Audit certified by M/s Ragini Chokshi & Associates, Practicing Company Secretaries, on October 7, 2026
- Share transfer records maintained by Registrar MUFG Intime India Private Limited
Precision Wires India has approved the allotment of 37,50,000 Compulsorily Convertible Debentures (CCDs) at a face value of ₹400 each, raising an aggregate of ₹150 crore on a preferential basis. The CCDs carry a 12% per annum coupon rate and will convert into an equivalent number of equity shares (1:1 ratio) between 12 and 18 months from allotment. The fundraise was allocated to two non-promoter entities: Anchorage Capital Scheme-III (₹80 crore, 1.07% post-conversion) and AADI Financial Advisors LLP (₹70 crore, 0.94% post-conversion). The ₹150 crore infusion represents approximately 15.3% of TTM revenue (₹979 crore) and 19.4% of net worth (₹772 crore).
- Allotment of 37,50,000 CCDs at ₹400 per CCD aggregating to ₹150 crore
- Carries a coupon rate of 12% per annum
- Convertible 1:1 into equity shares (₹1 face value) between 12 to 18 months from allotment
- Allotted to Anchorage Capital Scheme-III (20,00,000 CCDs / ₹80 cr) and AADI Financial Advisors LLP (17,50,000 CCDs / ₹70 cr)
- Post-conversion equity dilution stands at approximately 2.01% in aggregate
Precision Wires India Limited has received the Consolidated Consent and Authorisation (CC&A) from the Gujarat Pollution Control Board (GPCB) for its Zaroli, Gujarat plant. This regulatory clearance under the Water Act, Air Act, and Hazardous Waste Rules enables the company to start operating the industrial facility. The license is granted with validity up to August 10, 2031. Capacity and capex figures for this specific plant were not disclosed in the filing.
- Received Consolidated Consent and Authorisation (CC&A) from Gujarat Pollution Control Board
- Clearance is granted for a multi-year period valid up to 10/08/2031
- Approval allows the company to start operating its industrial plant at Zaroli, Gujarat
- Permits granted under Section 25 of Water Act 1974, Section 21 of Air Act 1981, and Hazardous Waste Rules 2016
Precision Wires India Limited has commenced trial production of Copper Cathodes at its new Copper Refining and Recycling plant located in Zaroli, Gujarat. While equipment testing remains underway, commercial production is targeted to begin in Q3 FY 2026-27, subject to final regulatory approvals and sanctions. This facility serves as a key backward-integration initiative aimed at securing raw materials and improving margins relative to its TTM revenue base of Rs 979 Cr.
- Commenced trial production of Copper Cathodes at Zaroli, Gujarat plant on September 17, 2026
- Commercial production targeted to start shortly in Q3 FY 2026-27
- Commercial launch remains subject to final regulatory approvals, sanctions, and permissions
- Trials for certain critical equipment are still actively underway
Precision Wires India Limited has secured in-principle approval from BSE and NSE on September 11, 2026, for the preferential issue of 37,50,000 Compulsorily Convertible Debentures (CCDs). The CCDs have a face value of ₹400 each, representing an aggregate fundraise of ₹150 crore. This issuance constitutes approximately 1.8% of the company's current market capitalization of ₹8,390 crore and about 19.4% of its net worth (₹772 crore). The company will now proceed with the allotment under SEBI ICDR regulations followed by conversion into equity shares.
- Received stock exchange in-principle approval on September 11, 2026
- Approval covers 37,50,000 Compulsorily Convertible Debentures (CCDs)
- Face value of ₹400 per CCD, aggregating to an issue size of ₹150 crore
- Entails subsequent conversion into 37,50,000 equity shares of face value Re. 1/- each
Precision Wires India Limited has issued an additional disclosure regarding the utilization of its proposed preferential issue proceeds. The company plans to allocate up to ₹10 crore towards acquiring suitable land, following an EGM corrigendum dated August 20, 2026. If agricultural land is acquired, the company will seek non-agricultural (NA) conversion, or otherwise dispose of the property if approvals fail. The ₹10 crore allocation represents approximately 1.3% of its net worth (₹772 crore) and 1.0% of TTM revenue (₹979 crore).
- Up to ₹10 crore earmarked from preferential issue proceeds for land acquisition
- Refers to Corrigendum to the Notice of EGM issued on August 20, 2026
- Land purchase subject to due diligence and regulatory permissions
- Mandates disposal of agricultural land if non-agricultural conversion permission is denied
Precision Wires India Limited's shareholders have approved the issuance of 37,50,000 unsecured, unrated, and unlisted 12% Compulsorily Convertible Debentures (CCDs) at ₹400 per CCD, raising ₹150 crore on a preferential basis to non-promoters. The special resolution was passed with an overwhelming 99.999% majority (12.53 crore votes in favor). The proceeds are earmarked to fund the company's working capital needs and capital expenditure. The ₹150 crore fundraise equals approximately 15.3% of TTM revenue (₹979 crore) and 19.4% of net worth (₹772 crore).
- Approved issuance of 37,50,000 CCDs of face value ₹400 each to raise ₹150 crore
- Special resolution passed with 99.999% votes in favor (12,53,40,511 votes) vs 0.001% against (1,631 votes)
- CCDs carry a 12% coupon, are unrated and unlisted, issued exclusively to non-promoter allottees
- Proceeds earmarked for working capital requirements and capital expenditure
Precision Wires India Limited conducted an Extra-Ordinary General Meeting (EGM) on September 5, 2026, where shareholders considered and approved a special resolution to issue 37,50,000 Compulsorily Convertible Debentures (CCDs). The CCDs carry a 12% coupon and a face value of ₹400 each, aggregating to a fundraise of ₹150 crore on a preferential basis to non-promoters. The proceeds are earmarked to finance the company's working capital requirements and capital expenditure. The ₹150 crore fundraise represents ~15.3% of TTM revenue (₹979 crore) and ~19.4% of net worth (₹772 crore).
- Approved issuance of 37,50,000 unsecured, unrated, unlisted 12% CCDs on a preferential basis
- Total issue size of ₹150 crore at a face value of ₹400 per CCD
- Allotted entirely to non-promoter category investors
- Proceeds designated for working capital requirements and ongoing capital expenditure
Precision Wires India Limited responded to an exchange query regarding a significant increase in trading volume. The company confirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, stating that all price-sensitive information has been disclosed. Management clarified that there are no impending announcements or undisclosed material developments impacting share price behavior, attributing trading activity purely to market-related factors.
- Exchange query received on 28th August, 2026 regarding significant increase in trading volume
- Company issued formal clarification letter on 29th August, 2026
- Confirmed full compliance with Regulation 30 disclosure requirements under SEBI LODR
- Stated no undisclosed price-sensitive information or impending announcements exist
Precision Wires India Limited has submitted a regulatory confirmation regarding its proposed preferential issue of securities. In furtherance of its prior submissions dated August 12, 2026, and August 21, 2026, the company confirmed that the proceeds and stated objects of the preferential issue comply with NSE circular NSE/CML/2022/56 and applicable SEBI regulations. This specific filing serves as an administrative compliance clarification rather than announcing new issue terms.
- Filing submitted on August 27, 2026, pursuant to SEBI Regulation 30 regarding a preferential issue of securities.
- Follows earlier corporate submissions made on August 12, 2026, and August 21, 2026.
- Confirms compliance of entire preferential issue proceeds and objects with NSE circular NSE/CML/2022/56.
Precision Wires India Limited disclosed an insider transaction under SEBI (PIT) Regulations regarding its Non-Executive Independent Director, Niraj Pankaj Bhukhanwala. On August 26, 2026, he sold 7,500 equity shares via open market on the NSE for a total value of ₹32,49,276.79. Following the sale, his equity holding decreased from 32,445 shares to 24,945 shares. The transaction is immaterial relative to the company's ₹7,605 Cr market capitalization.
- Disposal of 7,500 equity shares on August 26, 2026 via open market on NSE
- Total transaction value executed at ₹32,49,276.79
- Holding reduced from 32,445 shares pre-transaction to 24,945 shares post-transaction
- Transaction conducted by Independent Director Niraj Pankaj Bhukhanwala
Precision Wires India has issued a corrigendum to its EGM notice regarding a preferential issue of 37.50 lakh Compulsory Convertible Debentures (CCDs) to raise Rs 150.00 crore. Of the total proceeds, Rs 90.00 crore is allocated towards working capital needs to mitigate surging copper prices, and Rs 60.00 crore is earmarked for capex and land acquisition over 24 months. The capital will support the expansion of winding wire capacity from ~55,000 MT/PA to ~69,000 MT/PA by Q2 FY28 and the commissioning of the Zaroli recycling unit.
- Planned fundraise of Rs 150.00 Cr via preferential CCD issue (Rs 90.00 Cr working capital, Rs 60.00 Cr capex/land).
- Targeting winding wire capacity increase from ~55,000 MT/PA (as of March 2026) to ~69,000 MT/PA by Q2 FY 2027-28.
- Proposed allotment of 37.50 lakh CCDs to Anchorage Capital Scheme III (20.00 lakh CCDs) and AADI Financial Advisors LLP (17.50 lakh CCDs).
- Trial production of Copper Recycling/Refining Project at Zaroli projected to commence in Q2 FY 2026-27.
- Surge in raw material input costs highlighted, with average LME Copper prices rising up to 59% in INR terms in July 2026 vs FY26 average.
Precision Wires India Limited has informed the exchanges regarding an upcoming in-person meeting with Dalal and Broacha Stock Broking Private Limited. The interaction is scheduled for August 22, 2026, at 10:30 AM IST at the company's registered office in Mumbai. The company noted that no Unpublished Price Sensitive Information (UPSI) will be shared during the meeting.
- Meeting scheduled for August 22, 2026, at 10:30 AM IST.
- In-person interaction with Dalal and Broacha Stock Broking Private Limited.
- To be conducted at the company's Registered Office in Prabhadevi, Mumbai.
- Explicit confirmation that no Unpublished Price Sensitive Information (UPSI) will be shared.
Financial Performance
Revenue Growth by Segment
Round wire segment contributed ~75% of revenue with realisations of INR 7.9 lakh/MT in FY24. PICC and CTC segments together accounted for 20% of total revenue. Revenue from value-added products increased by ~80% YoY in 1HFY26.
Profitability Margins
Gross margins improved to 10.0% in 1HFY26 from 8.4% YoY. Net profit margins are projected to rise as PAT is expected to grow at a 38% CAGR from FY25 to FY28E, reaching INR 243.8 Cr.
EBITDA Margin
EBITDA margin was 4.1% in FY25 and is projected to expand to 6.5% by FY28E, a 240 bps improvement driven by backward integration and a shift toward value-added products.
Capital Expenditure
Historical capex was INR 102.2 Cr in FY25. Planned capex for FY27E is significantly higher at INR 205.9 Cr to complete winding wire expansion and a copper refining/recycling plant.
Credit Rating & Borrowing
Long-term rating reaffirmed at CARE A+; Stable and short-term rating at CARE A1 as of January 2025. Interest coverage ratio stood at 4.02x in FY24.
Operational Drivers
Raw Materials
Copper Cathode represents the primary raw material, with raw material costs accounting for ~90% of total sales in recent quarters.
Import Sources
Approximately 12% of raw materials are imported, exposing the company to foreign exchange fluctuations.
Capacity Expansion
Current installed capacity increased from 39,400 TPA to 49,000 TPA by March 2024. Ongoing expansion includes a copper refining and recycling plant to improve backward linkages.
Raw Material Costs
Raw material costs were INR 1,110 Cr in a recent quarter, up 21% YoY. The company uses a back-to-back order mechanism to pass through copper price volatility to customers.
Manufacturing Efficiency
Capacity utilization stood at 86% in FY24. Tolling margins improved from INR 60,000 per tonne in FY22 to INR 78,000 per tonne in FY23.
Strategic Growth
Expected Growth Rate
16%
Growth Strategy
Growth will be achieved through a 16% Revenue CAGR (FY25-28E) driven by capacity expansion to 49,000+ TPA, backward integration via a new copper recycling plant to capture higher margins, and doubling the share of value-added products like CTC and PICC in the portfolio.
Products & Services
Enameled Round Copper Wires, Rectangular Enameled Winding Wires, Paper Insulated Copper Conductors (PICC), and Continuous Transpose Conductors (CTC).
Brand Portfolio
PRECWIRE
New Products/Services
Expansion into higher value-added rectangular enameled winding wires and CTC, expected to double their revenue share over the next three years.
Market Expansion
Increasing penetration into the Electric Vehicle (EV) and hybrid vehicle segments to support growing demand for specialized winding wires.
Market Share & Ranking
Established market leader in the organized copper winding wire industry in India.
External Factors
Industry Trends
The industry is evolving with a shift toward EVs and high-efficiency motors, growing at a steady pace. PWIL is positioning itself by expanding capacity in value-added products like CTC for transformers.
Competitive Landscape
Intense competition from a fragmented market of small and medium unorganized players, though PWIL maintains an edge with reputable OEM clients.
Competitive Moat
Moat is based on long-standing OEM relationships (20+ years) and scale of operations, which are sustainable due to high switching costs for technical approvals in the power and auto sectors.
Macro Economic Sensitivity
Highly sensitive to industrial production growth and urbanization, which drive demand for electrical equipment and winding wires.
Consumer Behavior
Shift toward energy-efficient appliances and electric mobility is increasing demand for high-grade winding wires.
Geopolitical Risks
Trade barriers or supply chain disruptions in copper-producing regions could impact raw material availability.
Regulatory & Governance
Industry Regulations
Operations are subject to manufacturing standards for electrical components and pollution norms for copper processing.
Taxation Policy Impact
Effective tax rate was 26.5% in 2QFY26.
Risk Analysis
Key Uncertainties
Volatility in copper prices could impact working capital requirements by 15-20% if prices spike suddenly.
Third Party Dependencies
High dependency on copper suppliers, though mitigated by procurement from multiple reputable sources.
Technology Obsolescence Risk
Low risk as winding wires are fundamental components, but shifting to higher-efficiency CTC is necessary to remain competitive.
Credit & Counterparty Risk
Low counterparty risk due to a clientele consisting of large, reputable OEMs like CG Power and Lucas TVS.
