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Raw material price volatility
View Risks →Rajratan Global Wire Ltd — Q4 FY26
Rajratan Global Wire reported record sales tonnage of 133,000 tons in FY26, up 18% YoY, driven by strong demand across India, Thailand, and export markets.
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Rajratan Global Wire reported record sales tonnage of 133,000 tons in FY26, up 18% YoY, driven by strong demand across India, Thailand, and export markets. However, Q4 EBITDA margin contracted sharply by ~400bps due to a sudden ₹10,000/ton spike in steel prices that could not be passed on immediately. Management confirmed the price increase has been passed on in Q1 FY27, expecting margins to revert to 13-14%. The company is doubling Chennai capacity to 60,000 tons and investing ₹70cr in a steel cord facility for conveyor belts, targeting ₹150cr revenue in two years. Volume growth guidance for FY27 is 17-18%, reaching ~155,000 tons. Key risk: further raw material volatility or geopolitical disruptions could delay margin recovery.
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Sales Volume
133,000 tons
+18% YoY
Highest ever annual sales tonnage from three locations.
India Market Share
42-43%
+5-8pp YoY
Recovered from 35-37% earlier, driven by Chennai ramp-up.
Chennai Capacity
60,000 tons
+100% YoY
Doubling capacity from 30,000 tons by Q2 FY27.
Steel Cord Revenue Potential
₹150 cr
New
Peak annual revenue from 10,000-ton steel cord facility in 2 years.
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Guidance and risk preview
Consolidated sales volume expected to reach ~155,000 tons, driven by India (Chennai ramp-up) and Thailand (10-14% growth).
Sudden steel price spikes (₹10,000/ton in Q4) compress margins if not passed on quickly; management expects normalization but risk remains.
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