Bansal Wire Industries (BANSALWIRE) Q3 25/26 earnings summary

Executive summary

• Achieved record operating and sales performance in Q3 and 9M FY26, driven by robust demand, operational execution, and expansion in automotive, infrastructure, and engineering sectors.

• Specialty segment expanded with early launch and commercial sales of IHT Wire, supporting a shift toward higher-value automotive applications.

• Overcame early quarter labor shortages and fire incident, ending with highest-ever monthly sales of 45,000 tons in December and uninterrupted production.

• Cash flow generation improved significantly, with nearly INR 240 crores of free cash from operations, nearly meeting full-year target with one quarter remaining.

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

Financial highlights

• Q3 FY26 consolidated revenue from operations: ₹10,290.23 million, up 11.3% YoY; EBITDA: ₹870 million, up 19.0% YoY; PAT: ₹432.70 million, up 3.8% YoY.

• 9M FY26 consolidated revenue: ₹30,234.29 million, up 17.8% YoY; EBITDA: ₹2,430 million, up 19.4% YoY; PAT: ₹1,208.73 million, up 6.7% YoY.

• Highest ever sales volume in Q3 FY26 at 121,702 MT, up 31.7% YoY.

• Operating cash flow for 9M FY26 at ₹2,336.7 million, a significant turnaround from negative cash flow in 9M FY25.

• Basic and diluted EPS (consolidated) for Q3 FY26 was Rs. 2.76; nine-month EPS was Rs. 7.72.

Outlook and guidance

• Targeting ~35–40% volume growth and ~20% EBITDA growth for FY26, with positive outlook for Q4.

• Aims for 25%+ ROCE by FY27 and over ₹6,000 million positive operating cash flow in FY26 and FY27.

• Specialty wire (IHT/OHT) capacity expanding from 9,000 to 15,000 tons in next 2–3 quarters; steel cord commercial production expected in Q2/Q3 next year.

• EBITDA per ton targeted to rise to 8–9 over next 1–2 years, with annual EBITDA growth of 20–25%.

• Market share expected to rise to 10% in 2–3 years as largest domestic player.