NSE: BEDMUTHA · BSE: 533270
BEDMUTHA INDUST LTD
Manufactures copper and steel wire and related products for industrial use, reporting Rs. 1,466.74 crore in FY26 revenue. Copper is the larger line at Rs. 1,020.48 crore (69.6% of segment revenue) while Steel contributes Rs. 446.25 crore (30.4%); Steel earned a higher EBIT margin of 6.6% versus Copper at 1.9%. An EPC Projects segment is also reported, with Rs. 1.83 crore in EBIT on nil segment revenue in FY26. Raw materials are the dominant cost at Rs. 1,069.86 crore, or 72.9% of revenue, reflecting the commodity-intensive nature of wire-making, while employee cost sits at 1.5% and other operating expenses at 8.0%. FY26 capex was Rs. 106.03 crore (7.2% of revenue). In February 2026 the Board approved expansion into international markets. The company is based in Sinnar, Nashik, and has Rs. 159.99 crore in rated bank facilities and Rs. 283.95 crore in outstanding borrowings as of March 31, 2026. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Copper (70%), Steel (30%), EPC Projects (0%), Others (0%). Commodity-linked wire manufacturing with a materials-heavy cost structure and thin margins (FY26 EBITDA margin 5.15%, net margin 0.44%)
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 660 | 687 | 812 | 1,049 | 1,467 |
| EBITDA (ex other income) | 16 | 17 | 26 | 34 | 59 |
| margin % | 2.5 | 2.4 | 3.2 | 3.2 | 4.0 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 2.91 | 4.03 | 6.49 | 7.69 | 2.01 |
| ROE % · ROCE % | 10.8 · 14.8 | 13.1 · 16.6 | 17.4 · 17.7 | 17.1 · 16.1 | 4.3 · 11.6 |
| Debt / equity (x) | 3.19 | 2.53 | 1.95 | 1.50 | 1.37 |
| Cash from operations | 71 | 73 | 74 | 109 | 158 |
| Capex | (12) | (11) | (29) | (56) | (106) |
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 | 251 | 274 | 282 | 311 | 364 | 357 | 436 | 541 |
| Profit before tax | 11 | 2 | 2 | (3) | (1) | (4) | 15 | 7 |
| Net profit | 11 | 2 | 2 | (3) | (1) | (4) | 15 | 7 |
| EPS (₹) | 3.28 | 0.65 | 0.64 | (1.02) | (0.29) | (1.21) | 4.54 | 2.15 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Steel | 446 | 30.4 |
| Copper | 1,020 | 69.6 |
| Total, before eliminations | 1,467 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PRECISION WIRES INDIA LTD | 7,353 | 41.9 | 9.52 | — | 20.1 | 21.9 | — | — |
| KSH INTERNATIONAL LIMITED | 6,302 | 45.3 | 7.80 | — | 13.6 | 17.3 | — | 7.1 |
| VIDYA WIRES LIMITED | 1,812 | 27.4 | 3.78 | 19.3 | 12.0 | 15.6 | — | 4.6 |
| EURO PANEL PRODUCTS LTD | 341 | 13.3 | 2.13 | 8.7 | 16.6 | 19.2 | — | 10.9 |
| BEDMUTHA INDUST LTD ◆ | 339 | 20.2 | 2.23 | 7.1 | 4.3 | 1.6 | 30.4 | 3.9 |
| CUBEXTUBINGS-ROLLSETT | 290 | 38.5 | 3.48 | — | 8.9 | 10.8 | — | 4.9 |
| CENTURY EXTRUSIONS LTD | 144 | 11.6 | 1.74 | — | 13.2 | 16.9 | — | 7.8 |
| M TEK COPPER LIMITED | 136 | 21.2 | 2.71 | — | 10.6 | 14.0 | — | 3.8 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 20.2 | 24.3 | 4 of 10 | 67% |
| P/B | 2.2 | 2.5 | 5 of 10 | 56% |
| ROCE | 1.6 | 14.8 | 9 of 10 | 11% |
| ROE | 4.3 | 11.3 | 9 of 10 | 11% |
| Debt / Equity | 1.4 | 0.5 | 10 of 10 | 0% |
| EBITDA margin | 3.9 | 4.6 | 6 of 9 | 38% |
| Revenue growth | 74.3 | 60.4 | 1 of 7 | 100% |
| Profit growth | 309.5 | 89.0 | 1 of 6 | 100% |
| Market cap | 339 | 314 | 5 of 10 | 56% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Compliance certificate for Q2 FY26-27 dematerialisation filed with exchanges | compliance | minimal | — | — |
| 30 Sept 2026 · Trading window closed ahead of Q2 results | compliance | minimal | — | — |
| 29 Sept 2026 · Bedmutha Industries 36th AGM: All 10 resolutions passed with requisite majority | compliance | minimal | — | — |
| 28 Sept 2026 · 36th AGM: Revenue up 40% to Rs 1,467 cr but PAT dips to Rs 7 cr | investor communications | low | — | — |
| 28 Sept 2026 · Bedmutha Industries 36th AGM held; resolutions passed, FY26 revenue up 40 percent | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Non-promoter PAC group crosses 5% stake in Bedmutha Industries | ownership changes | medium | — | — |
| 8 Sept 2026 · Notice of 36th AGM on Sept 28, 2026 via video conferencing | compliance | minimal | — | — |
| 7 Sept 2026 · Bedmutha sends AGM access letter to shareholders without registered emails | compliance | minimal | — | — |
| 5 Sept 2026 · Bedmutha Industries files 36th Annual Report for FY 2025-26 | compliance | low | — | — |
| 5 Sept 2026 · 36th AGM notice sets voting dates and key approvals | board shareholder meetings | 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.