Sales Volume (Q4)
1.17 lakh MT
+20% YoY
Quarterly volume grew 20% YoY despite gas disruption in March.
BANSALWIRE
Other
13 Apr 2026
Bansal Wire Industries Ltd — Q4 FY26
Bansal Wire reported Q4 FY26 revenue of ₹1,136 crore (+21% YoY) and PAT of ₹40 crore (+21% YoY), with EBITDA margin at 7.0%.
✓ Verified against BSE filing
2-Min Summary
Bansal Wire reported Q4 FY26 revenue of ₹1,136 crore (+21% YoY) and PAT of ₹40 crore (+21% YoY), with EBITDA margin at 7.0%. Volume grew 20% YoY to 1.17 lakh MT, though sequential decline due to natural gas supply disruption in March. Full-year volume hit a record 4.58 lakh MT (+33% YoY). Management highlighted a subdued start to FY27 due to ongoing gas issues and sluggish demand outside automotive, but reiterated a 20% growth target once conditions normalize. Steel cord trial orders are expected soon from top tire companies, with commercial ramp-up possible in H2. Capex guided at ₹150-200 crore for FY27, adding ~1.2 lakh MT capacity at Dadri. Key risk: sustained gas price escalation and demand weakness could pressure near-term margins.
Key Numbers
Annual Sales Volume (FY26)
4.58 lakh MT
+33% YoY
Record annual volume, driven by broad-based demand across segments.
Capacity Utilization (FY26)
67%
Overall capacity utilization for FY26; target 80-85% in normal conditions.
Product Mix (Low Carbon)
55%
Low carbon steel wires constitute ~55% of product mix; high carbon 25%, stainless 20%.
Management Guidance
20% volume and EBITDA growth target once conditions normalize
Management expects to return to 20% growth trajectory after geopolitical and gas supply disruptions subside.
growthCapex of ₹150-200 crore for FY27
Majority of cash flow to be reinvested; capacity to increase from 6.8 lakh MT to ~8.5 lakh MT by year-end.
capexSteel cord trial order expected soon; commercial ramp-up in H2 FY27
First trial order from top tire company; regular supply expected later in the fiscal year.
expansionKey Risks
Natural gas supply disruption and price escalation
Gas prices remain elevated (50-300% increase), impacting production and margins; Q1 FY27 volumes expected at 80-85% of normal.
high · management_commentaryWeak demand outside automotive segment
Consumer durables and infrastructure demand sluggish due to steel price hikes and geopolitical uncertainty.
medium · analyst_questionSteel cord approval delays and competition
Fire incident caused 6-month delay; global players like Bekaert expanding, and new entrants could pressure pricing.
medium · analyst_questionNotable Quotes
We were able to generate a cash flow of 333 crores, exceeding our initial target of 250 crores and we remain on track for achieving our total target of 600 crores by 2017.
Once condition stabilizes, we still expect us to return on our targeted 20% growth trajectory supported by our strategic initiatives and already available capacity.
We are the only and the first Indian company to start. Therefore, we see a good traction in this product.