30th January 2025, New Delhi: Bansal Wire Industries Limited, country’s largest stainless steel wire manufacturing company and second largest steel wire manufacturing company by volume, reported robust 171.9% jump in net profit to ₹ 416.8 Mn for the third quarter ended December 31, 2024. The Company’s revenue for Q3 FY25 rose 52.6% to ₹ 9,246.1 Mn; while EBITDA grew to ₹ 731.3 Mn, up 98.7% compared to ₹ 368.1 Mn in the corresponding period of last year.
For the nine-month ended December 31, 2024, the Company’s net profit was at ₹ 1,132.5 Mn, up 123.1% YoY. Revenue for the period stood at ₹ 25,669.7 Mn, growing 46.1% YoY; while EBITDA rose 99.0% to ₹ 2034.8 Mn.
Consolidated Q3 & 9M FY25 Financial Highlights (₹ in Mn)
Particulars | Q3 FY25 | Q3 FY24 | % YoY | 9M FY25 | 9M FY24 | % YoY |
Revenue | 9,246.1 | 6,060.5 | 52.6 | 25,669.7 | 17,574.1 | 46.1 |
EBITDA | 731.3 | 368.1 | 98.7 | 2,034.8 | 1,022.5 | 99.0 |
EBITDA Margin (%) | 7.9 | 6.1 | 30.3 | 7.9 | 5.8 | 36.2 |
PAT | 416.8 | 153.3 | 171.9 | 1,132.5 | 507.7 | 123.1 |
PAT Margin (%) | 4.5 | 2.5 | 78.2 | 4.4 | 2.9 | 52.6 |
Commenting on the performance, Mr. Pranav Bansal, MD & CEO, Bansal Wire Industries Limited said, “During the quarter, we delivered resilient financial performance and strong operational execution, ramping up new lines for value-added products and driving value-driven volume expansion while sustaining momentum through growth initiatives.
In the Indian steel wire market, we are advancing with innovative, sustainable solutions, with 70% renewable energy usage in some plants and progress toward water positivity, alongside exploring green steel for new products. Leveraging automotive expertise, we are introducing advanced products to enhance tyre efficiency, rolling resistance, and fuel economy. While challenges like fluctuating raw material prices and geopolitical risks persist, international expansion in the US and Europe offers significant opportunities. We are committed to product quality and will soon be the only Indian company with an in-house R&D wing for new product development.”
This quarter marked a significant achievement for the Company with the commencement of production at its specialty wire vertical in Dadri. The facility introduced three critical products: Bead Wire, Hose Wire, and Steel Tyre Cord, with Bead Wire and Hose Wire successfully launched during the period. The market potential for these products is substantial, with an estimated annual demand of 450,000 tons. To capitalize on this opportunity, the Company has established a state-of- the-art pilot project with a capacity of 50,000 tons. This initiative not only reinforces the Company’s commitment to innovation but also positions it to effectively cater to the growing needs of this dynamic market segment.