Steel wires rarely get the spotlight—until Bansal makes them shine. Q1 is usually a dull “lean quarter,” but these guys spun out record 104,000 tons of sales at 74% utilization. Free cash flow? A sweet ₹100 crore, flipping last year’s negative like a pancake. Management says margins may sag till FY27 as they chase 30% growth, but by FY28—backward integration and specialty wires will make margins bounce harder than an EV startup pitch.
Stay tuned, because the Sanand capex story and specialty wire ambitions are where it gets juicy.
2. At a Glance
Revenue ₹939 cr, up 15% – Q1 is “lean”? Somebody forgot to tell them.
EBITDA ₹75 cr, up 20% – Cost control plus better product mix.
Net Profit ₹39 cr, up 24% – Shareholders smiled wider than the wires.
Exports ₹72 cr (7.5% of revenue) – China+1 working, but still baby steps.
3. Management’s Key Commentary
“We delivered our highest ever quarterly volume of 104,000 tons at 74% utilization.” (Translation: We sold like crazy, still kept some factory machines napping for later.)
“Generated ₹100 cr free cash flow vs -₹150 cr last year.” (Translation: CFO finally stopped wires from leaking cash.)
“Targeting 30% volume growth in FY26.” (Translation: Growth or bust, margins can wait till FY28.)
“Specialty wires like hose wire, IHT, steel cord are import substitutes.” (Translation: Tata, move over; EVs will soon ride on Bansal’s wires.)
“Sanand facility capex at ₹650 cr, backward integration from FY27.” (Translation: We’ll make our own raw material, because suppliers charge like Ambanis at a wedding.)
“Margins may fall 20% in FY26–27, but rebound by FY28.” (Translation: Endure the diet today, eat biryani tomorrow. 😏)
