Earning Presentation for the quarter ended 31st March, 2026
BHARATWIRE · price
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Bharat Wire Ropes reported FY26 revenue of INR 5,905 Mn (down 4.7% YoY) with EBITDA of INR 1,308 Mn (down 1.1% YoY) but EBITDA margin improved to 22.15% from 21.36% in FY25. PAT remained flat at INR 725 Mn with margin expanding to 12.28% from 11.69%. Q4 FY26 was weaker with revenue down 17.6% YoY to INR 1,415 Mn due to Middle East war escalation disrupting supply chains. Sales volume declined from 44,040 MT to 41,320 MT. Management attributed margin resilience to focus on domestic market and value-added products despite higher raw material prices and increased power/fuel costs. The company achieved 5-year CAGR of 19% in revenue and 32% in EBITDA.
The stock may see mixed reaction as revenue declined due to geopolitical disruptions, but margin expansion and debt reduction from INR 1,817 Mn to INR 743 Mn signal improved financial health. Focus on value-added products and domestic market provides some resilience.