Bansal Wire Industries Ltd

Bansal Wire Industries Ltd trading window closure

Record date and split details

• Type of security: equity shares.
• Record date fixed: October 16, 2026.
• Subdivision ratio: 1 ₹5 share into 5 ₹1 shares.
• Purpose: sub-division/split of equity shares.
• AGM approval: shareholders approved on September 17, 2026.
• Ranking: pari-passu, fully paid-up.

Financial highlights

• Consolidated revenue Rs 4,160 crore, up 19%.
• EBITDA Rs 324 crore, up 17%.
• PAT Rs 161 crore, up 10%.
• Debt-to-equity ratio 0.39x.

Capacity and utilization

• Dadri capacity added 120,000 tonnes; total installed ~680,000 tpa.
• Q3 volume reached 121,000 tonnes.
• Current capacity utilization around 70%; target 85-90% as Dadri ramps.

Growth drivers and governance

• IHT Wires phase 2 to 15,000 tonnes; brass-coated hose wire production began.
• Steel cord progress with two tyre company approvals; first trial shipped.
• AGM includes share split and alteration of Capital Clause; six agenda items.

AGM details

• 41st AGM held on 17 Sep 2026 at 12:00 IST via Video Conferencing.
• Deemed venue: F-3, Main Road, Shastri Nagar, Delhi.
• Cut-off date for voting: 10 Sep 2026.
• Remote e-voting open 13–16 Sep 2026; AGM e-voting conducted.
• Votes unblocked on 17 Sep 2026 at 15:30 IST.

Key resolutions and outcomes

• Resolution 1 (Ordinary): Adopt audited standalone and consolidated financial statements for year ended March 31, 2026; Passed.
• Resolution 2: Re-appoint Arun Gupta who retires by rotation; Passed.
• Resolution 3: Ratify Cost Auditor remuneration for FY 2026-27; Passed.
• Resolution 4: Appoint Independent Director Shri Ramesh Kumar Choubey for five years; Passed.
• Resolution 5: Approve sub-division of equity shares; Passed.
• Resolution 6: Alter capital clause of MOA; Passed.

Dividend

• No dividend proposed or declared.

Director changes

• Arun Gupta retires by rotation and is re-appointed.
• Ramesh Kumar Choubey appointed as Independent Director for five years.

Auditors

• Remuneration of Cost Auditor Ashish & Associates ratified for FY 2026-27.

Material related party transactions

• No material related party transactions approved.

Bansal Wire Industries Ltd announces Analyst/Investor Meet under Company Update

AGM Details

• Date: 17 September 2026; Time: 12:00–13:01 IST; Mode: Video Conferencing.

Ordinary Business 1: Financials Adoption

• Adoption of standalone and consolidated financial statements for FY 2025-26.

Ordinary Business 2: Director Re‑appointment

• Re-appointment of Arun Gupta as director retiring by rotation.

Ordinary Business 3: Cost Auditor Remuneration

• Ratify remuneration of Cost Auditor for FY 2026-27.

Special Business: Independent Director Appointment

• Appointment of Shri Ramesh Kumar Choubey as Independent Director for five years.

Ordinary Business 4: Share Sub-division

• Approve sub-division/split of equity shares.

Ordinary Business 5: MOA Capital Clause Alteration

• Alteration of Capital Clause of Memorandum of Association.

Overview

• Standalone BRSR for FY2025-26 covers manufacturing plants, depot, sales office, and head office.
• Main activity: steel wires; 99.14% of turnover from metal products.
• Exports constitute 9.21% of turnover; domestic markets span 24 states and 6 union territories.

Key ESG Risks & Opportunities

• Water risk due to groundwater reliance; mitigated by 60 lakh saprain harvesting and ZLD.
• Groundwater withdrawal 170,083 KL; water intensity 42.41 KL per crore turnover.
• Air emissions risk from diesel/genset use; mitigated by online monitoring and fugitive controls.
• Energy efficiency and renewables: 7.5 MW rooftop solar; improved energy intensity.
• Policies on human rights and anti-corruption with no material penalties in FY25-26.

Governance & Policy Highlights

• Board oversight via Risk Management Committee (3 directors; 2 independents; 1 whole-time director).
• Anti-Bribery and Anti-Corruption policy with zero-tolerance; regular awareness.
• Whistleblower policy with Audit Committee oversight and confidential channels.
• Human Rights Policy and Vigil Mechanism to address discrimination and abuses.
• Certifications include ISO 45001, ISO 14001, ISO 9001, IATF 16949; BIS/ROHS etc.
• No material penalties in FY25-26; Sustainovate engaged to establish assurance framework.

Social Responsibility & Workforce

• Total workforce: 3,431 (638 permanent employees; 2,461 permanent workers; 970 others).
• Board women: 29% (2 of 7); no female KMPs.
• LTIFR: employees 0; workers 3.64; total injuries 17; no fatalities.
• Training coverage: 95.61% of employees; 92.28% of workers trained.
• Retirement benefits include PF, ESI, gratuity; CSR focuses on healthcare, education, skill development.

Environmental Performance

• Total energy: 773,771.86 GJ; renewables 58,409.07 GJ; non-renewables 715,362.78 GJ.
• GHG: Scope 1 51,684; Scope 2 80,292; total 131,976 tCO2e; intensity 32.91 tCO2e per crore turnover.
• Water: groundwater 170,083 KL; total water 170,083 KL; intensity 42.41 KL per crore turnover.
• ZLD at Dadri plant covers ~90% of effluent; four plants in total.
• Waste: total 4,974.72 tonnes; recycled 4,156.01; incinerated 90.74; landfilled 727.97; hazardous waste 818.71.

Stakeholder Engagement & Complaints

• Key stakeholders: employees, customers, shareholders, value chain partners, government, banks; channels include email, meetings, website.
• Customer complaints: 614 filed FY2025-26; 7 pending; most resolved; shareholders: 3 complaints; NIL pending.
• Stakeholder Relationship Committee oversees grievances; investor relations email used for reporting.
• Community grievances: NIL; ongoing value-chain engagement; vendor onboarding includes compliance expectations.

Other Notable Metrics

• Related party transactions: purchases from related parties 40.67%; sales 6.21%; loans/advances and investments 100%.
• Sales concentration: top 10 dealers account for 90.57% of dealer sales; 20 dealers total.
• Accounts payable days: 28.30 in FY2025-26 vs 18.70 in FY2024-25.
• Data privacy: no data breaches reported.
• Assurance: Sustainovate engaged; no BRSR Core Assurance required this year.

Financial performance

• Revenue from operations was 41,597.86 million, up 18.6% year‑on‑year.
• EBITDA rose to 3,234.8 million, up 17.3% YoY.
• PAT stood at 1,609.42 million, up 10.0% YoY.
• PAT margin at 3.86%; operating margin 6.40%.
• PBT was 1,687.41 million; interest coverage at 4.7x.
• Debt/Equity improved to 0.39x; installed capacity 6.80 lakh MT.
• Highest-ever volume: 4,58,055 MT; Q3 quarterly volume 1,21,000 MT.
• Operating cash flow 3,330.81 million; target cumulative operating FCF of 6,000 million by FY2026-27.
• Export revenue of 3,693.51 million; export share ~9.2% of turnover.
• Net cash flow from operations supported by disciplined working capital management.

Operational momentum and capacity expansion

• Dadri facility anchors scale; total installed capacity now 6.80 lakh MT across five plants.
• IHT wires launched; Steel Tyre Cord program advanced with trial orders.
• LRPC strands launched; 18,000 MT capacity; EBITDA-positive by year‑end.
• B2C farming, fencing, poultry products expanded to widen revenue mix.
• Quarterly peak volume of 1,21,000 MT achieved in Q3 FY2025-26.
• Phase I Dadri expansion completed; Phase II capacity expansion planned.

Capital expansion and value-added focus

• Capex plan of ₹200‑₹225 crore annually to expand capacity by 2,10,000 MT (Dadri 1,20,000 MT; Sanand 90,000 MT).
• Aim to reach 2 lakh MT premium/value-added capacity over 5–7 years.
• IHT and Tyre Cord drive higher-margin mix; specialty wires ~4–5% of volume today with upside.

Dividends and capital allocation

• Board did not declare any dividend for FY2025-26; dividend policy adopted and published on the company site.
• Return-focused operating model prioritises cash generation and prudent debt management.
• Internal accruals primarily fund growth; balance sheet remains resilient.

Governance and management changes

• Sunita Bindal Independent Director resigned w.e.f. Aug 12, 2026.
• Shri Ramesh Kumar Choubey appointed as Additional Director (Non‑Executive Independent) from Aug 12, 2026.
• Board comprised 7 directors; 4 independent; 2 Whole-time; 1 MD & CEO.

ESG, CSR and sustainability

• CSR spend 19.70 million in FY2025-26; CSR policy disclosed on website.
• Key CSR initiatives include oncology unit, Maharaja Agrasen Medical University, and healthcare and women empowerment。
• 5 MW solar panels; rainwater harvesting pond of 60 lakh litres; ZLD system at Dadri.
• Environmental and governance certifications (ISO 14001, 9001, 45001) and CBAM readiness.
• Risk and governance framework includes ESG risk management and whistleblower mechanisms.

Market outlook and risks

• India remains fastest-growing large economy; infrastructure push supports steel wire demand.
• China+1 and import-substitution trends create export opportunities for BWIL.
• Management expects volume and EBITDA growth of around 20% in FY2026-27 as conditions normalise.

Subsidiaries and governance

• Wholly owned subsidiaries: Bansal Steel & Power Limited and BWI Steel Private Limited.
• Two independent directors on board; management focus on robust internal controls and stakeholder engagement.