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Revenue
₹599 Cr
verified against source
Revenue YoY
24.42%
reported change
EBITDA
₹85.78 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Vidya Wires reported a strong FY26 with revenue from operations at ₹1,839.6 crore, up 24.4% YoY, driven by copper price tailwinds and higher capacity utilization. EBITDA margin expanded 35 bps to 4.66%, aided by disciplined hedging and cost control. PAT stood at ₹57.6 crore. The new LQ Industries plant commenced production in February, adding 6,000 MT capacity, with total capacity expected to reach 35,000-36,000 MT by Diwali. Management guided for 50-60% utilization of new capacity in FY27 and full utilization by FY28, with better margins from new products like PV ribbon and CTC. Key risk: global shipping disruptions and Middle East tensions could impact export logistics and input costs.
Colored figures show movement against the previous available record.
Guidance to track
- Total capacity will increase from current ~19,000 MT to 35,000-36,000 MT by October/November 2026.
- Management expects to utilize 50-60% of the expanded capacity in FY27, with full utilization by FY28.
- New product categories (PV ribbon, CTC, aluminium wires) are expected to yield higher EBITDA per metric ton compared to traditional products.
- Management aims to achieve a 75:25 domestic-export revenue mix over time, up from current 12% export share.
Risks flagged
- Ocean freight costs have risen and vessel availability is constrained, impacting both import and export logistics.
- Analyst noted OCF conversion is weak; management acknowledged working capital days at 60 and plans to reduce to 50-52 days, but execution risk remains.
- Peers are also expanding capacity, which could pressure pricing power; management downplayed but did not quantify impact.
- Copper and aluminium price swings could affect revenue and margins despite hedging; management claims insulation but risk remains.
Key quotes
- We have successfully moved from the investment phase to the operational phase of the subsidiary.
- Our EBITDA per metric ton has improved and we are expecting that this will be better considering new product addition.
- We are currently in a phased ramp up period. By design, we are not yet at full capacity.
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