NSE: BANSALWIRE · BSE: 544209
BANSAL WIRE INDUSTRIES L
Manufactures steel wire products from an operating capacity of 680,000 tonnes per annum, selling primarily to business customers across automotive, infrastructure, and industrial end-markets. The core business produces conventional wires used in fasteners, construction, and general engineering, while a specialty wire portfolio — Steel Cord for tire reinforcement, IHT wires, and OHT wires — is in the early stages of revenue ramp. A newly launched B2C range of farming, fencing, and poultry wire already accounts for about 10% of sales, with a stated internal target of 25% of total revenue. Q1 FY27 sales volume was about 112,000 tonnes against revenue of INR 1,168 crore, with full-year FY26 revenue at INR 4,159.786 crore. The largest cost is raw materials at 78.1% of revenue, with industrial gas a meaningful secondary input that compressed Q1 FY27 margins when West Asia supply was disrupted. Annual capex is guided at INR 200-250 crore to support a stated 20% volume growth target. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Conventional steel wires (B2B), Specialty wires — Steel Cord, IHT, OHT, B2C farming, fencing and poultry wires (10%). Asset-heavy, cyclical steel-wire manufacturing with a growing specialty and B2C mix
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 3,507 | 4,160 |
| EBITDA (ex other income) | 269 | 307 |
| margin % | 7.7 | 7.4 |
| Owners' profit | 145 | 161 |
| EPS, as reported (₹) | 9.73 | 10.28 |
| ROE % · ROCE % | 11.5 · 16.8 | 11.2 · 16.2 |
| Debt / equity (x) | 0.48 | 0.39 |
| Cash from operations | (151) | 333 |
| Capex | (463) | (233) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 825 | 925 | 940 | 939 | 1,055 | 1,029 | 1,136 | 1,168 |
| Profit before tax | 57 | 58 | 51 | 50 | 51 | 56 | 50 | 26 |
| Net profit | 40 | 42 | 33 | 39 | 38 | 43 | 40 | 20 |
| EPS (₹) | 2.85 | 2.66 | 2.12 | 2.51 | 2.46 | 2.76 | 2.56 | 1.31 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 65,982 | 28.6 | 7.01 | 28.1 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 61,480 | 50.0 | 11.61 | 32.0 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 32,069 | 28.6 | 2.60 | 13.0 | 8.6 | 11.4 | 24.1 | 14.9 |
| RATNAMANI MET & TUB LTD. | 16,437 | 38.0 | 3.91 | 19.2 | 12.7 | 15.6 | 14.4 | 18.5 |
| JINDAL SAW LIMITED | 15,732 | 24.0 | 1.28 | 8.7 | 7.5 | 6.8 | 10.9 | 9.4 |
| USHA MARTIN LTD. | 14,523 | 28.6 | 4.40 | 19.1 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,114 | 30.2 | 3.95 | 17.5 | 14.6 | 16.8 | 34.4 | 17.8 |
| GODAWARI POW & ISP LTD | 12,641 | 14.8 | 2.16 | 9.6 | 13.7 | 17.0 | 5.7 | 21.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.7 | 15.6 | 21 of 105 | 81% |
| P/B | 0.7 | 1.4 | 18 of 101 | 83% |
| ROCE | 12.7 | 9.1 | 39 of 115 | 67% |
| ROE | 11.3 | 8.6 | 36 of 103 | 66% |
| Debt / Equity | 0.4 | 0.2 | 72 of 101 | 29% |
| EBITDA margin | 4.9 | 11.0 | 75 of 100 | 25% |
| Revenue growth | 24.4 | 13.7 | 33 of 97 | 67% |
| Profit growth | (47.9) | 29.3 | 87 of 105 | 17% |
| Market cap | 951 | 210 | 40 of 122 | 68% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Earnings call audio link shared for Q2 and H1 FY27 results | investor communications | low | — | — |
| 23 Oct 2026 · Bansal Wire September quarter profit after tax rises 38 percent | compliance | minimal | — | — |
| 22 Oct 2026 · Bansal Wire Q2 FY27: Record volume, EBITDA at Rs 105 Cr, targets 25% ROCE | investor communications | medium | — | — |
| 22 Oct 2026 · Q2 revenue rises 24% and profit rises 38%, but H1 profit falls | results | high | — | — |
| 22 Oct 2026 · Bansal Wire Q2 results: revenue up 26%, PAT up 28% YoY standalone | results | high | — | — |
| 22 Oct 2026 · Bansal Wire Q2 results: Revenue up 26%, PAT up 28% YoY | results | high | — | — |
| 19 Oct 2026 · Stock split completed: Rs.5 face value split into 5 shares of Rs.1 | corporate actions | medium | — | — |
| 19 Oct 2026 · Bansal Wire Industries schedules Q2 and H1 FY27 earnings call on October 23 | board shareholder meetings | low | — | — |
| 17 Oct 2026 · Bansal Wire board meeting on Oct 22 to consider Q2 and H1 FY27 results | results | low | — | — |
| 17 Oct 2026 · Board meeting on Oct 22 to approve Q2 FY26 results | results | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.