Bansal Wire Industries · tone and specificity signals across the available quarters.
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We have successfully launched induction hardened and tempered (IHT) wires by adding 9,000 tons of high performance capacity. This product is primarily used in automotive suspension springs, allowing us to deepen our engagement with automotive OEMs while improving our long-term margin profile.
We have generated almost 240 crores of free cash from operations which was almost a full year's target and with another quarter left I'm confident we would be able to achieve much better than expected on that front.
Our target for this year was a growth of about 30% which we revised to maybe towards 40% within this year. I think we are already on track for that.
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.