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Bansal Wire Subsidiary Signs MoU with Ministry of Steel for ₹70 Cr PLI Scheme Investment
Bansal Wire Industries' wholly-owned subsidiary, BWI Steel Private Limited, has signed a Memorandum of Understanding with the Ministry of Steel under the PLI Scheme 1.2 for Specialty Steel. The company has committed to an investment of ₹70 crores to be executed during FY 2025-26 and FY 2026-27. This project aims to add a manufacturing capacity of 70,000 tonnes per year for stainless steel wire. Participation in this scheme is expected to provide fiscal incentives and strengthen the company's position in the specialty steel segment.
Key Highlights
MoU signed with Ministry of Steel under the Production Linked Incentive (PLI) Scheme 1.2
Committed investment of ₹70.00 Crores planned for FY 2025-26 and FY 2026-27
New capacity addition of 70,000 tonnes per year for stainless steel wire manufacturing
Focus on establishing and expanding manufacturing facilities to meet PLI production targets
💼 Action for Investors
Investors should view this as a positive growth catalyst that combines capacity expansion with government-backed fiscal incentives. Monitor the progress of the facility setup and the subsequent impact on volume growth in FY27.
Bansal Wire Reports Record Q3 FY26 Volumes; 9M Free Cash Flow Hits ₹240 Crores
Bansal Wire achieved its highest-ever quarterly sales volume of 121,000 metric tons in Q3 FY26, a 32% year-on-year growth. The company reported 9-month revenue of ₹3,023 crores and has already met its full-year free cash flow target of ₹240 crores. Management is aggressively expanding high-margin specialty wire capacities, including IHT wires for the automotive sector, and expects to reach a 25% ROCE by the end of next year. A significant GST demand of ₹206 crores has been largely resolved with negligible financial impact.
Key Highlights
Record quarterly sales volume of 121,000 MT in Q3 FY26, up 32% YoY and 6% QoQ
9M FY26 revenue grew 18% to ₹3,023 crores, while EBITDA rose 19% to ₹243 crores
Generated ₹240 crores in free cash flow from operations in 9 months, achieving the full-year target early
Launched IHT wires (9,000 tons) with Phase 2 expansion to 15,000 tons already underway
GST dispute of ₹206 crores resolved by 98-99%, removing a major regulatory overhang
💼 Action for Investors
Investors should focus on the company's transition toward high-margin specialty wires which are expected to contribute 15-20% of EBITDA in the future. The strong volume growth and achievement of cash flow targets provide a solid foundation for long-term value creation.
Bansal Wire Q3 FY26: Record 121k MT Volume, 19% EBITDA Growth, GST Issue Resolved
Bansal Wire reported its highest-ever quarterly sales volume of 121,000 metric tons in Q3 FY26, marking a 32% YoY growth. While 9-month revenue grew 18% to INR 3,023 crores, PAT growth remained modest at 7% due to higher depreciation and interest capitalization from recent expansions. The company has successfully launched high-margin IHT wires and is expanding capacity to 15,000 tons to target the automotive sector. Crucially, a major INR 206 crore GST demand has been 98-99% resolved, removing a significant regulatory risk.
Key Highlights
Achieved record quarterly sales volume of 121,000 MT (+32% YoY) and highest monthly sales of 45,000 MT in December 2025.
9M FY26 EBITDA rose 19% YoY to INR 243 crores, while operating cash flow reached INR 233 crores, meeting the full-year target early.
Launched 9,000 MT IHT wire capacity for automotive suspensions, with Phase 2 expansion to 15,000 MT underway.
Management targets a 25% ROCE by the end of next year, supported by a shift toward higher-value specialty products.
Resolved a significant INR 206 crore GST notice with 98-99% of the demand squashed, ensuring no material financial impact.
💼 Action for Investors
Investors should monitor the ramp-up of the specialty wire segment, which is expected to contribute 15-20% of EBITDA in the coming years. The strong volume growth and resolution of the GST overhang provide a positive outlook for long-term value creation.
Bansal Wire Q3 FY26: EBITDA Grows 19% YoY to ₹870M; Sales Volume Surges 31.7%
Bansal Wire Industries reported a strong Q3 FY26 with revenue increasing 11.3% YoY to ₹10,290.2 million and EBITDA rising 19% to ₹870 million. Sales volumes saw a significant jump of 31.7% YoY to 1,21,702 MT, supported by the commissioning of the Dadri expansion facility. The company successfully launched its specialty IHT Wire segment ahead of schedule and has turned operating cash flow strongly positive at ₹2,336.7 million for 9M FY26. Management maintains a confident outlook, guiding for ~35% volume growth and ~20% EBITDA growth for the full fiscal year.
Key Highlights
Q3 FY26 EBITDA increased 19% YoY to ₹870 million, driven by higher volumes and cost-control measures.
Sales volume for 9M FY26 reached 3,40,411 MT, representing a robust 37.9% growth over the previous year.
Announced a new ₹150 crore investment for a 90,000-tonne capacity plant in Sanand, Gujarat, targeted for completion by Dec 2027.
Specialty segment expansion: Commercial sales of IHT Wire commenced ahead of schedule; Steel Tyre Cord trials are on track for mid-FY27.
Operating cash flow for 9M FY26 improved significantly to ₹2,336.7 million compared to a negative ₹1,509.6 million in the prior year.
💼 Action for Investors
Investors should monitor the ramp-up of the specialty wire segment and the Sanand expansion, as these are key drivers for the company's 25% ROCE target by FY27. The strong volume growth and improved cash flow profile make this a compelling growth story in the steel wire industry.
Bansal Wire Q3 FY26 Net Profit Up 4% to ₹433 Mn; EBITDA Surges 19% YoY
Bansal Wire reported a steady Q3 FY26 with revenue growing 11.3% YoY to ₹10,290 Mn and EBITDA rising 19% to ₹870 Mn. While PAT growth was modest at 3.8% YoY, the company showed operational strength with EBITDA margins expanding by 50 bps to 8.4%. A key highlight is the early commercialization of high-value IHT Wire for the automotive segment, which is expected to improve the future product mix. Management remains confident in achieving ~35% volume growth and ~20% EBITDA growth for the full year FY26.
Key Highlights
Revenue for Q3 FY26 grew 11.3% YoY to ₹10,290 Mn, while 9M FY26 revenue rose 17.8% to ₹30,234 Mn.
EBITDA for the quarter increased by 19% YoY to ₹870 Mn, with margins expanding from 7.9% to 8.4%.
Net Profit (PAT) stood at ₹433 Mn for Q3, representing a 3.8% YoY growth despite a 30 bps dip in PAT margin.
Commenced commercial production and sales of specialty IHT Wire ahead of the FY26 year-end target.
Management reaffirmed full-year guidance of ~35% volume growth and ~20% EBITDA growth.
💼 Action for Investors
Investors should monitor the ramp-up of the new specialty IHT Wire segment which targets higher-margin automotive applications. The company's strong volume guidance and improving cash flows suggest a positive outlook for the remainder of the fiscal year.
Bansal Wire Q3 FY26 PAT at ₹340.4M; Revenue up 6% YoY Despite Fire Incident Loss
Bansal Wire Industries reported a steady Q3 FY26 with standalone revenue of ₹9,841.27 million, marking a 5.9% growth over the same period last year. Net profit for the quarter stood at ₹340.40 million, reflecting a 7% sequential growth from Q2 FY26, although it was slightly lower than the ₹357.70 million reported in Q3 FY25. The results include an exceptional loss of ₹15.41 million due to a fire incident at the Dadri Unit in October 2025. For the nine-month period, revenue showed a strong growth of 25.8% YoY, reaching ₹29,027.37 million.
Key Highlights
Revenue from operations stood at ₹9,841.27 million for Q3 FY26, up from ₹9,292.64 million in Q3 FY25.
Standalone Net Profit for the quarter was ₹340.40 million with a sequential EPS increase to ₹2.17 from ₹2.03.
Recorded an exceptional loss of ₹15.41 million on account of inventory damage due to a fire at the Dadri Unit.
Nine-month FY26 revenue reached ₹29,027.37 million compared to ₹23,064.77 million in the previous year.
Management confirmed no operational disruption at other parts of the unit following the fire incident.
💼 Action for Investors
Investors should monitor the final insurance claim settlement for the Dadri Unit and the resumption of the affected 'C Shed'. The stock remains a steady play in the steel wire segment given the 25% nine-month revenue growth.
Bansal Wire GST Liability Reduced from Rs 6.7 Crore to Rs 39.88 Lakhs
Bansal Wire Industries has received a revised order from the GST Authority regarding a show cause notice for FY 2023-24. The initially proposed tax liability of Rs. 669.72 Lacs has been significantly reduced to Rs. 39.88 Lacs following the company's submission of supporting documentation. While the reduction is substantial, the company still intends to appeal the remaining demand before the appropriate appellate authority. The management has confirmed that there is no material impact on the company's financials or operations.
Key Highlights
GST tax liability for FY 2023-24 reduced from Rs. 669.72 Lacs to Rs. 39.88 Lacs.
The revised demand includes an equivalent penalty and applicable interest on the Rs. 39.88 Lacs amount.
Allegations involved E-way bill issues, excess ITC availment, and non-payment of tax on RODTEP license sales.
Company plans to file an appeal against the remaining liability within the prescribed time limit.
💼 Action for Investors
Investors should view this as a positive resolution of a potential tax risk, as the liability was reduced by over 94%. No immediate action is required as the financial impact is not material.
Bansal Wire Reports Highest-Ever Quarterly Sales Volume of 121,702 MT in Q3 FY26
Bansal Wire Industries achieved a record-breaking quarterly sales volume of 121,702 MT in Q3 FY26, marking a 31.70% YoY and 6.18% QoQ growth. The company's nine-month (9M FY26) volume reached 340,411 MT, which is nearly equivalent to the total volume achieved in the entire previous fiscal year (FY25: 344,710 MT). This growth is supported by an expanded capacity of 618,000 MTPA and the launch of high-margin specialty products like Induction Hardened and Tempered (IHT) wires. The performance highlights strong demand from the automotive and infrastructure sectors.
Key Highlights
Record Q3 FY26 sales volume of 121,702 MT, up 31.70% YoY and 6.18% QoQ
9M FY26 sales volume of 340,411 MT represents 37.88% YoY growth
Launched 9,000 MT capacity for specialty IHT wires in Q3 FY26 targeting the automotive sector
9M FY26 volume has already reached 98.7% of the total FY25 annual volume
Total manufacturing capacity stands at 618,000 MTPA to meet rising infrastructure demand
💼 Action for Investors
Investors should take note of the rapid volume growth and capacity utilization, which signals strong market demand and execution. The shift toward specialty wires like IHT and LRPC suggests potential for margin improvement in upcoming financial results.
Bansal Wire Reports Record Q3 FY26 Sales Volume of 121,702 MT, Up 31.7% YoY
Bansal Wire Industries has achieved its highest-ever quarterly sales volume of 121,702 MT in Q3 FY26, marking a robust 31.70% growth compared to the same quarter last year. The company also demonstrated sequential growth of 6.18% over Q2 FY26. For the nine-month period ending FY26, sales volumes reached 340,411 MT, a 37.88% increase over the previous year's corresponding period. Remarkably, the 9M FY26 volume is already nearly equal to the total volume achieved in the entire previous fiscal year (FY25).
Key Highlights
Highest ever quarterly sales volume of 121,702 MT recorded in Q3 FY26
Year-on-Year sales volume growth of 31.70% and Quarter-on-Quarter growth of 6.18%
9M FY26 sales volume stands at 340,411 MT, representing 37.88% YoY growth
9M FY26 volume (340,411 MT) is nearly equivalent to the full-year FY25 volume of 344,710 MT
💼 Action for Investors
Investors should take this as a strong signal of robust demand and successful capacity utilization; however, one should wait for the full financial results to confirm if this volume growth translates into proportional bottom-line gains.
Bansal Wire Receives GST Show Cause Notice for FY 2022-23
Bansal Wire Industries Limited has received a Show Cause Notice (SCN) from GST Authority for FY 2022-23, concerning Goods & Services Tax, Interest, and Penalty under Section 74 of the CGST/SGST Act, 2017. The notice alleges Tax amounting to ₹3,83,85,296/-, Interest amounting to ₹2,20,72,071/-, and a penalty of ₹3,83,85,296/-. The company believes the SCN is without merit and intends to respond appropriately. Similar notices for previous financial years (2018-19 to 2021-22) were resolved with negligible amounts.
Key Highlights
Show Cause Notice received under Section 74 of CGST/SGST Act, 2017 for FY 2022-23
Tax amount mentioned in SCN: ₹3,83,85,296/-
Interest amount mentioned in SCN: ₹2,20,72,071/-
Penalty amount mentioned in SCN: ₹3,83,85,296/-
💼 Action for Investors
Investors should monitor the company's response to the Show Cause Notice and any updates on the resolution of the matter. While the company anticipates no material impact, any significant financial implications could affect shareholder value.
Bansal Wire GST Demand Slashed from Rs 202.77 Cr to Rs 1.01 Cr
Bansal Wire Industries Limited has successfully contested a massive GST demand for the financial year 2020-21. The SGST Authority in Ghaziabad reduced the initial demand from Rs 202.77 Crores to just Rs 1.01 Crores following the company's representation and documentation. The revised demand includes tax, interest, and penalties totaling approximately Rs 1.01 Crores. While the reduction is substantial, the company plans to appeal the remaining amount to further clarify certain assessment aspects.
Key Highlights
SGST Authority reduced the tax demand from Rs 202.77 Crores to Rs 1.01 Crores for FY 2020-21.
Revised liability includes Rs 34.53 Lakhs tax, Rs 32.25 Lakhs interest, and Rs 34.53 Lakhs penalty.
The notice involved issues related to E-way bills, excess Input Tax Credit (ITC), and RODTEP license sales.
Company intends to file an appeal against the remaining Rs 1.01 Crore demand before appellate authorities.
Management confirms there is no material impact on the company's current operations or financials.
💼 Action for Investors
The massive reduction in potential liability is a significant relief for the company's balance sheet and removes a major regulatory overhang. Investors should view this as a positive development, though the final appeal outcome should be monitored.
BANSALWIRE: GST Liability Reduced from ₹9961.63 Lacs to ₹92.90 Lacs
Bansal Wire Industries Limited received an order from GST Authority regarding tax liability for FY 2021-22. The tax authority revised the initially determined tax liability, resulting in a reduced amount payable. The demand amount payable has been reduced from ₹9961.63 Lacs to ₹92.90 Lacs. The company intends to file an appeal before the appropriate appellate authority within the prescribed time limit under the GST Act.
Key Highlights
Tax liability reduced from ₹9961.63 Lacs to ₹92.90 Lacs
Tax component of revised amount: ₹33,75,095
Interest component of revised amount: ₹25,39,921
Penalty component of revised amount: ₹33,75,095
💼 Action for Investors
Investors should monitor the outcome of the company's appeal against the GST order. While the financial impact is currently assessed as immaterial, any significant changes could affect future earnings.
Bansal Wire Receives GST Show Cause Notice for FY 2020-21
Bansal Wire Industries Limited has received a Show Cause Notice (SCN) from GST authorities for the financial year 2020-21, under Section 74 of the CGST/SGST Act, 2017. The notice alleges tax amounting to ₹691925489.24, interest of ₹643888799.11, and a penalty of ₹691925489.24 related to issues involving E-way bill, ITC, and non-payment of tax on RODTEP license sale. The company believes the SCN is without merit and intends to respond appropriately. Bansal Wire states that there is no material impact on the company's financials or operations.
Key Highlights
Show Cause Notice received under Section 74 of CGST/ SGST Act, 2017 for FY 2020-21
Alleged tax amount: ₹691925489.24
Alleged interest amount: ₹643888799.11
Alleged penalty amount: ₹691925489.24
💼 Action for Investors
Investors should monitor the progress of the company's response to the Show Cause Notice and any potential impact on the company's financials. While the company currently assesses no material impact, any adverse outcome could affect investor sentiment.
Bansal Wire launches LRPC Wire product, expands capacity by 18,000 MT
Bansal Wire Industries Limited has announced the launch of a new product, 'LRPC Wire' (Low Relaxation Prestressed Concrete steel strand), at its Dadri plant on December 01, 2025. This launch is expected to diversify the company's product portfolio and significantly boost sales. The company is also expanding its production capacity by 18,000 MT units to support the new product. This strategic move aims to capture a greater market share and strengthen the company's brand authority, potentially leading to steady revenue growth and long-term financial stability.
Key Highlights
Launched new product: LRPC Wire (Low Relaxation Prestressed Concrete steel strand)
Launch date: December 01, 2025
Expansion of 18,000 MT units
💼 Action for Investors
Investors should monitor the sales performance of the new LRPC Wire product and its impact on the company's revenue growth. Keep an eye on how the 18,000 MT capacity expansion translates into increased market share and profitability.