Bansal Wire Industries Ltd
NSE:BANSALWIRE
Bansal Wire Industries Ltd
Bansal Wire Industries Ltd is a IN-based company operating in Metals & Mining industry. The company is headquartered in Delhi, Delhi and currently employs 2,950 full-time employees. The company went IPO on 2024-07-10. Bansal Wire Industries Limited is an India-based stainless-steel wire and steel wire manufacturing company. The Company’s segments include high carbon steel wire, mild steel wire (low carbon steel wire) and stainless-steel wire. The firm manufactures high and low carbon steel wires/galvanized wire/cable armoring wires and strips/stainless steel wires/profile, shaped wires, specialty wires and so on which have multiple applications. Its high carbon steel wires include auto cable wire, mattress wire, roping wire, spring wire, and super fine wire. Its low carbon steel wires include bright wire, cable armor wire, fencing wire, galvanized wire, and super fine/mesh wire. Its stainless-steel wires include wire for hose/filter, wire for kitchen appliances, welding rod, super fine wire, and welding wire. The company serves the wire needs of industries, such as automobiles, infrastructure, fasteners, kitchenware and utensils, general engineering, and power and transmission, among others.
Bansal Wire Industries Ltd is a IN-based company operating in Metals & Mining industry. The company is headquartered in Delhi, Delhi and currently employs 2,950 full-time employees. The company went IPO on 2024-07-10. Bansal Wire Industries Limited is an India-based stainless-steel wire and steel wire manufacturing company. The Company’s segments include high carbon steel wire, mild steel wire (low carbon steel wire) and stainless-steel wire. The firm manufactures high and low carbon steel wires/galvanized wire/cable armoring wires and strips/stainless steel wires/profile, shaped wires, specialty wires and so on which have multiple applications. Its high carbon steel wires include auto cable wire, mattress wire, roping wire, spring wire, and super fine wire. Its low carbon steel wires include bright wire, cable armor wire, fencing wire, galvanized wire, and super fine/mesh wire. Its stainless-steel wires include wire for hose/filter, wire for kitchen appliances, welding rod, super fine wire, and welding wire. The company serves the wire needs of industries, such as automobiles, infrastructure, fasteners, kitchenware and utensils, general engineering, and power and transmission, among others.
Record Volumes: Q3 saw Bansal Wire deliver its highest-ever quarterly sales volume at 121,000 metric tonnes, up 32% YoY and 6% QoQ.
Revenue Growth: Revenue grew 11% YoY in Q3 to INR 2,900 crores, with a 9-month total of INR 3,023 crores, up 18% YoY.
Profitability: Q3 EBITDA rose 19% YoY to INR 87 crores (8.4% margin), while net profit grew 4% YoY to INR 43 crores. 9-month net profit was INR 121 crores, up 7% YoY.
Specialty Wires Expansion: Successfully launched induction hardened and tempered (IHT) wires, with plans to expand combined IHT/OHT capacity from 9,000 to 15,000 tonnes within 2–3 quarters. Specialty wires now contribute about 5% of volume and are targeted to contribute 15–20% of EBITDA.
Strong Cash Flow: Free cash flow from operations reached INR 240 crores for 9 months, nearly a full year's target, with management confident of exceeding expectations.
GST Issue Resolved: GST-related demand has been reduced by 98–99%, with no material impact expected on financials.
Capacity Utilization & Expansion: Currently at 78% utilization, aiming for 90% within 2–3 quarters. Capacity will rise from 620,000 tonnes to 770,000 tonnes with expansions in Dadri and Sanand.
Market Position: Now the largest wire manufacturer in India by capacity, aiming for a 10% market share in 2–3 years.
Guidance: Management maintains volume growth guidance at 35–40% and targets 20–25% annual EBITDA growth, with EBITDA per tonne gradually increasing to INR 8,000–9,000 in 1–2 years.
