Unaudited Results for the Quarter and Half Year ended 30.09.2025 as per Regulation 33 of SEBI LODR Regulations 2025
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Wires & Fabriks reported Q2 FY26 revenue of Rs 2,934.16 lakhs, a modest 5.6% rise from Rs 2,779.26 lakhs in Q2 FY25. However, profit after tax crashed about 94% to just Rs 2.49 lakhs (from Rs 42.98 lakhs), as total expenses grew faster than the topline, especially depreciation (up to Rs 352.25 lakhs) and finance costs (Rs 255.29 lakhs). For the half year, revenue stood at Rs 5,728.94 lakhs while PAT slumped to Rs 3.70 lakhs versus Rs 50.47 lakhs in H1 FY25. EPS for H1 FY26 dropped to Rs 0.12 from Rs 1.65. The balance sheet shows total borrowings of Rs 12,107.76 lakhs against equity of Rs 5,033.66 lakhs, implying a high debt-to-equity ratio of roughly 2.4x. Operating cash flow stayed healthy at Rs 1,278.70 lakhs, and statutory auditor Jain Shrimal & Co. issued a clean (unqualified) limited review report.
Despite steady revenue, sharp margin compression and very high leverage weigh on the stock. The near-flat bottom line and elevated debt levels signal financial stress and limited near-term upside for shareholders.