Bansal Wire Industries (BANSALWIRE) Q2 25/26 earnings summary

Executive summary

• Achieved record revenue, sales volume, and EBITDA in Q2 and H1 FY26, reflecting strong operational execution and market demand despite challenging conditions such as heavy monsoon and labor shortages.

• Shifted strategic focus to cash flow positivity and higher ROCE, targeting 25%+ ROCE by 2027 and INR 6,000 million+ positive cash flow over FY26-FY27.

• Launched Induction Hardened and Tempered (IHT) Wire for automotive applications, expanding specialty product offerings.

• Strategic investments and capacity expansions underway, including new facilities and subsidiary growth.

• Statutory auditors expressed an unmodified opinion on both standalone and consolidated results.

Financial highlights

• Q2 FY26 consolidated revenue reached ₹10,554 million, up 27.9% year-on-year; H1 FY26 consolidated revenue at ₹19,944.1 million, up 21.4% year-on-year.

• Q2 EBITDA was ₹815.8 million, up 19.8% year-on-year; H1 EBITDA at ₹1,560.4 million, up 19.7% year-on-year.

• Q2 PAT at ₹383.24 million, down year-on-year due to higher depreciation and interest; H1 PAT at ₹776.0 million, up 8.4% year-on-year.

• Operating cash flow for H1 FY26 was ₹1,483.4 million, a significant turnaround from negative cash flow in FY25.

• Q2 sales volume at 1.14 lakh tons, highest ever, with exports contributing 9.1% of revenue.

Outlook and guidance

• Targeting 30%-40% volume growth and over 20% EBITDA growth for FY26, with long-term goal to sustain 20%-25% annual growth in both revenue and EBITDA.

• Specialty wire and B2C segments expected to drive higher margins and profitability from next year.

• EBITDA-per-ton expected to remain stable in near term, with improvement anticipated from FY28 as specialty wire scales.

• Focus remains on core steel wire business and ongoing integration of subsidiaries.