Bansal Wire Industries (BANSALWIRE) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 set records for revenue, EBITDA, sales volume and EBITDA per tonne, supported by higher utilization, richer product mix and Dadri ramp-up.

• H1 operating cash flow reached ₹339.16 crore, exceeding FY26’s full-year ₹333.1 crore; working-capital days fell to 49 from 75 over the last two quarters.

Financial highlights

• Consolidated Q2 revenue was ₹1,308.14 crore, EBITDA ₹105.0 crore and PAT ₹52.90 crore, up 23.9%, 28.7% and 38.0% YoY, respectively.

• Consolidated H1 revenue was ₹2,476.03 crore, EBITDA ₹161.7 crore and PAT ₹73.37 crore; revenue rose 24.1% YoY while PAT fell 5.5%.

• Q2 volume was 128,867 MT, up 12.5% YoY; record EBITDA per tonne was ₹8,150. H1 volume was 240,812 MT, up 10.1% YoY.

• Standalone Q2 revenue was ₹1,276.25 crore and PAT ₹40.87 crore; H1 revenue was ₹2,411.00 crore and PAT ₹57.36 crore, down YoY.

• H1 cash profit was ₹107.5 crore, up 1.5% YoY; Q2 operating cash flow was ₹218.0 crore.

Outlook and guidance

• H2 FY27 volume growth target remains 20% YoY; H2 EBITDA commitment is ₹7,000–7,500/ton, with FY27 EBITDA expectation of ₹7,000–8,000/ton subject to no major disruption.

• Capacity is planned to rise from 6.8 lakh MT to 8.3 lakh MT by FY28, including a 60,000 MT Dadri addition and a 90,000 MT Sanand expansion.

• Annual growth capex guidance is ₹200–225 crore for five years; targets include ~20% EBITDA growth CAGR and cumulative operating cash flow above ₹800 crore in FY27–FY28.

• Long-term EBITDA target is ₹8,000–10,000/ton or higher as specialty-wire contributions build; near-term ROCE target is 25%+.