Bansal Wire Industries Q2 FY26 Concall Decoded – Steel, Sweat & ROC Dreams

1. Opening Hook

In a world where everyone’s chasing AI and algorithms, Bansal Wire still bends steel—and profits—with bare industrial grit. Even heavy monsoons couldn’t rust their shine, as the company turned in record revenue and volume. The CEO’s mantra? “Cash flow positivity and 25% ROC”—because apparently, wire can also conduct discipline.

As the Guru Granth Sahib says, “He who labors honestly eats the sweetest food.” Seems Bansal Wire’s menu is full of high-carbon flavor and low-carbon wisdom. Keep reading—because this isn’t just a wire story; it’s a masterclass in industrial reinvention.

2. At a Glance

• Revenue ₹1,055 Cr (+27% YoY): Wires pulled profits tighter than ever.
• EBITDA ₹81.6 Cr (+20% YoY): Margins may sweat, but steel won’t bend.
• PAT ₹38.3 Cr (-4% YoY): Depreciation hit harder than any market shock.
• Volumes 1.14 Lakh Tons (+10,000 Tons QoQ): The mills are humming louder.
• Exports 9% of revenue: India wires the world, literally.
• Cash Profit ₹56 Cr (+17% YoY): Because “cash is king,” and ROC is the throne.
• Capacity Utilization 74%: Efficiency meets muscle memory.

3. Management’s Key Commentary

“We delivered our highest ever revenue, volume, and EBITDA.”
(Translation: Even the monsoon gods couldn’t stop the machines.)

“We target 25% ROC by 2027 and ₹600 Cr of positive cash flow in two years.”
(Translation: Every rupee now has to justify its existence.) 💰

“We received two sample approvals for steel cord from major tyre makers.”
(Translation: Our wires may soon spin under your car tyres.)

“B2C segment contributed 5% of revenue this quarter.”
(Translation: Now even farmers and fence owners know our brand.)

“Backward integration scrapped; focus back on core business.”
(Translation: Why mine steel when we can mint profits?) 😏

“EBITDA per ton stable at ₹7,100 despite higher costs.”
(Translation: Inflation who? We passed the wire, not the buck.)

“Dadri facility now stabilized with 50% higher sales vs Q1.”
(Translation: The new plant finally stopped throwing tantrums.)

4. Numbers Decoded