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Bharat Wire Ropes Ltd

BHARATWIRE·NSE
₹170.10+1.32%Wed, 23 Sept '26
Industry:Steel - Wires
Indices:

Bharat Wire Ropes Ltd

BHARATWIRE
NSE
₹170.10
+1.32%
|Wed, 23 Sept '26
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Steel - Wires
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Shareholdings
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Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
Financials
Documents
Shareholdings
Corporate Actions
Segments
Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Peer Comparison
6M
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Charts
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Quick Ratios

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Mkt Cap
Market Capitalization
₹1,170Cr
Close
Close Price
₹170.10
Industry
Industry
Steel - Wires
PE
Price To Earnings
16.88
PS
Price To Sales
2.02
Revenue
Revenue
₹579Cr
Rev Gr TTM
Revenue Growth TTM
-7.68%
PAT Gr TTM
PAT Growth TTM
-1.24%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
159157147133152162172142165143141130
Growth YoY
Revenue Growth YoY%
6.38.9-9.3-15.7-4.32.916.86.18.2-11.7-17.7-8.0
Expenses
ExpensesCr
117113110101118133135112126110112105
Operating Profit
Operating ProfitCr
424437333429373038333026
OPM
OPM%
26.227.925.424.422.117.921.621.323.422.820.919.6
Other Income
Other IncomeCr
000000000010
Interest Expense
Interest ExpenseCr
434334443223
Depreciation
DepreciationCr
555556666667
PBT
PBTCr
333529242620282130242217
Tax
TaxCr
897675758654
PAT
PATCr
242622181915211622181612
Growth YoY
PAT Growth YoY%
59.239.636.6-23.9-22.9-43.6-5.5-13.517.422.6-20.1-21.6
NPM
NPM%
15.416.814.813.512.49.212.011.013.412.811.69.4
EPS
EPS₹
3.63.93.22.62.82.23.02.33.22.72.41.8
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
159157147133152162172142165143141130
Growth YoY
Revenue Growth YoY%
6.38.9-9.3-15.7-4.32.916.86.18.2-11.7-17.7-8.0
Expenses
ExpensesCr
117113110101118133135112126110112105
Operating Profit
Operating ProfitCr
424437333429373038333026
OPM
OPM%
26.227.925.424.422.117.921.621.323.422.820.919.6
Other Income
Other IncomeCr
000000000010
Interest Expense
Interest ExpenseCr
434334443223
Depreciation
DepreciationCr
555556666667
PBT
PBTCr
333529242620282130242217
Tax
TaxCr
897675758654
PAT
PATCr
242622181915211622181612
Growth YoY
PAT Growth YoY%
59.239.636.6-23.9-22.9-43.6-5.5-13.517.422.6-20.1-21.6
NPM
NPM%
15.416.814.813.512.49.212.011.013.412.811.69.4
EPS
EPS₹
3.63.93.22.62.82.23.02.33.22.72.41.8

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
6165165241258250411589622619591579
Growth
Revenue Growth%
-20.96.8154.445.97.1-2.964.243.45.6-0.4-4.7-7.7
Expenses
ExpensesCr
5259148222229218349450458487460453
Operating Profit
Operating ProfitCr
861719293262139164132131126
OPM
OPM%
13.69.410.47.811.213.015.123.626.421.422.121.8
Other Income
Other IncomeCr
0321101111111
Interest Expense
Interest ExpenseCr
4325738934232215131110
Depreciation
DepreciationCr
2412212222212121222425
PBT
PBTCr
230-74-82-231897129989793
Tax
TaxCr
100-30-21-643433252524
PAT
PATCr
120-45-61-17146296727269
Growth
PAT Growth%
310.881.7-89.8-17,993.9-36.872.5181.4355.554.8-24.90.1-1.2
NPM
NPM%
2.23.80.1-18.5-23.6-6.73.310.615.511.712.311.9
EPS
EPS₹
0.50.50.1-9.9-13.6-3.72.19.714.210.610.610.1
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
6165165241258250411589622619591579
Growth
Revenue Growth%
-20.96.8154.445.97.1-2.964.243.45.6-0.4-4.7-7.7
Expenses
ExpensesCr
5259148222229218349450458487460453
Operating Profit
Operating ProfitCr
861719293262139164132131126
OPM
OPM%
13.69.410.47.811.213.015.123.626.421.422.121.8
Other Income
Other IncomeCr
0321101111111
Interest Expense
Interest ExpenseCr
4325738934232215131110
Depreciation
DepreciationCr
2412212222212121222425
PBT
PBTCr
230-74-82-231897129989793
Tax
TaxCr
100-30-21-643433252524
PAT
PATCr
120-45-61-17146296727269
Growth
PAT Growth%
310.881.7-89.8-17,993.9-36.872.5181.4355.554.8-24.90.1-1.2
NPM
NPM%
2.23.80.1-18.5-23.6-6.73.310.615.511.712.311.9
EPS
EPS₹
0.50.50.1-9.9-13.6-3.72.19.714.210.610.610.1

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
4545454545636468686869
Reserves
ReservesCr
93969855-6-105110210285360
Current Liabilities
Current LiabilitiesCr
74791513044309211072449367
Non Current Liabilities
Non Current LiabilitiesCr
205379443363283220212149131131112
Total Liabilities
Total LiabilitiesCr
417599736767752747774781835961990
Current Assets
Current AssetsCr
13296160169154168215274333419438
Non Current Assets
Non Current AssetsCr
285503576598598578558507503542552
Total Assets
Total AssetsCr
417599736767752747774781835961990
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
4545454545636468686869
Reserves
ReservesCr
93969855-6-105110210285360
Current Liabilities
Current LiabilitiesCr
74791513044309211072449367
Non Current Liabilities
Non Current LiabilitiesCr
205379443363283220212149131131112
Total Liabilities
Total LiabilitiesCr
417599736767752747774781835961990
Current Assets
Current AssetsCr
13296160169154168215274333419438
Non Current Assets
Non Current AssetsCr
285503576598598578558507503542552
Total Assets
Total AssetsCr
417599736767752747774781835961990

Cash Flow

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
36173283151-2442483857398
Investing Cash Flow
Investing Cash FlowCr
-193-259-98-140-10-13-25-62-31
Financing Cash Flow
Financing Cash FlowCr
22717290-90-152247-25-64-61-11-66
Net Cash Flow
Net Cash FlowCr
70-6923-21-12-26000
Free Cash Flow
Free Cash FlowCr
35-259-20668151-2452373704324
CFO To PAT
CFO To PAT%
2,690.5697.112,795.7-185.8-247.61,454.6173.1133.788.5100.9134.8
CFO To EBITDA
CFO To EBITDA%
438.9279.0186.2443.1520.9-752.638.060.052.055.274.7
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
36173283151-2442483857398
Investing Cash Flow
Investing Cash FlowCr
-193-259-98-140-10-13-25-62-31
Financing Cash Flow
Financing Cash FlowCr
22717290-90-152247-25-64-61-11-66
Net Cash Flow
Net Cash FlowCr
70-6923-21-12-26000
Free Cash Flow
Free Cash FlowCr
35-259-20668151-2452373704324
CFO To PAT
CFO To PAT%
2,690.5697.112,795.7-185.8-247.61,454.6173.1133.788.5100.9134.8
CFO To EBITDA
CFO To EBITDA%
438.9279.0186.2443.1520.9-752.638.060.052.055.274.7

Ratios

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
435501257492174341,0521,8761,3201,0761,170
Price To Earnings
Price To Earnings
179.31,858.331.816.919.518.214.916.9
Price To Sales
Price To Sales
6.73.01.10.20.91.11.83.02.11.82.0
Price To Book
Price To Book
3.13.52.61.34.16.35.96.73.72.52.7
EV To EBITDA
EV To EBITDA
131.756.138.615.615.011.38.812.210.98.79.6
Profitability Ratios
Profitability Ratios
GPM
GPM%
36.326.332.636.336.728.127.135.540.236.539.739.7
OPM
OPM%
13.69.410.47.811.213.015.123.626.421.422.121.8
NPM
NPM%
2.23.80.1-18.5-23.6-6.73.310.615.511.712.311.9
ROCE
ROCE%
1.81.14.1-0.31.73.512.233.135.022.921.521.5
ROE
ROE%
1.01.70.2-44.7-156.1-32.019.835.134.620.416.916.9
ROA
ROA%
0.30.40.0-5.8-8.1-2.31.88.011.57.57.37.3
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
435501257492174341,0521,8761,3201,0761,170
Price To Earnings
Price To Earnings
179.31,858.331.816.919.518.214.916.9
Price To Sales
Price To Sales
6.73.01.10.20.91.11.83.02.11.82.0
Price To Book
Price To Book
3.13.52.61.34.16.35.96.73.72.52.7
EV To EBITDA
EV To EBITDA
131.756.138.615.615.011.38.812.210.98.79.6
Profitability Ratios
Profitability Ratios
GPM
GPM%
36.326.332.636.336.728.127.135.540.236.539.739.7
OPM
OPM%
13.69.410.47.811.213.015.123.626.421.422.121.8
NPM
NPM%
2.23.80.1-18.5-23.6-6.73.310.615.511.712.311.9
ROCE
ROCE%
1.81.14.1-0.31.73.512.233.135.022.921.521.5
ROE
ROE%
1.01.70.2-44.7-156.1-32.019.835.134.620.416.916.9
ROA
ROA%
0.30.40.0-5.8-8.1-2.31.88.011.57.57.37.3
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Bharat Wire Ropes makes the steel wire ropes, strands, and slings that hold up bridges, hoist cargo on ships, and lower cages into mines - the invisible sinews of heavy industry. The company was founded in 1986, but its modern form began in 2010 when Mr. M.L. Mittal acquired it and set out to build a fully integrated, export-capable manufacturer from scratch. The recurring approach is to control the entire production chain - from raw steel wire to finished, high-specification rope - inside one giant, modern plant, so it can make products its rivals cannot and sell them to exacting customers like the Indian Navy, ISRO, and overseas buyers in over 55 countries. # Business segments A single, integrated manufacturing engine that turns steel wire rod into thousands of specialty wire and rope products for lifting, structural support, and power transmission - sold to government giants, private industry, and export markets from one mega-plant in Maharashtra. ## 1. Specialty wire and rope manufacturing: the integrated mill that supplies heavy industry **One fully integrated plant makes its own wire, then twists, coats, and tests it into thousands of rope and strand varieties - so the company is not a commodity re-roller but a specialty producer that can bid for suspension bridges and offshore cranes.** - **Makes the wire itself** - the Chalisgaon plant draws high-carbon steel wire (0.3 mm to 5.5 mm, up to 2,360 N/mm² tensile strength) in-house, which means the company is not limited to the few wire types available in the open market and can design ropes for extreme loads. - **One plant, one flow** - the Chalisgaon facility is laid out as a straight-line, synchronized operation where wire rod enters and finished ropes up to 100 mm diameter exit, with a single-reel capacity of 60 tonnes. The plant holds a total capacity of 72,000 MTPA across its two sites, with Chalisgaon contributing 66,000 MTPA. - **Sells to the most demanding buyers** - the customer list includes Indian Railways, the Indian Army, Navy and Air Force, ISRO, Coal India, BHEL, and the Power Grid Corporation, alongside multinational corporations. The company holds a long-standing rate contract with the Shipping Corporation of India and is approved by Lloyds Register, a prerequisite for supplying ropes to the shipping industry. - **Special ropes earn more** - non-rotating, compacted, swaged, and plasticated ropes command selling prices of INR 150-250 per unit, roughly two to three times that of general-purpose ropes, and the company targets at least 20% of revenue from these high-value products. - **Exports to over 55 countries** - roughly a third of revenue comes from overseas, spanning North America, Europe, the Middle East, Africa, Asia, and Australia, with a stated ambition to expand the footprint from 52-plus countries to 82-92. International customers are increasingly looking to India as an alternative to Chinese supply. # Group structure and partners **The company stands alone - no subsidiaries, no joint ventures - after a deep restructuring that converted lenders into shareholders and a clean exit from a captive solar investment.** - **No group entities** - as of March 2025, Bharat Wire Ropes has no subsidiaries, associates, or joint ventures. - **Debt restructuring reshaped the balance sheet** - in March 2021, under RBI directions, INR 3,826 million of outstanding debt was converted into Compulsory Convertible Preference Shares issued to lenders, with equity shares also issued to promoters and other investors. - **Captive solar stake sold** - the company previously held a 26.72% stake in MITCON Solar Alliance Limited, acquired in January 2023 to meet captive power consumption rules under Indian electricity law, and sold the entire holding in June 2024.

Documents — Bharat Wire Ropes Ltd

  • Q4 FY2024 Earnings Call Transcript (Mar 2024, PDF): https://www.stockscans.in/document/l87bs3vff0k5tywczef04i7j.pdf
  • Q3 FY2024 Earnings Call Transcript (Dec 2023, PDF): https://www.stockscans.in/document/qcutiebutge2bovi82g4yheu.pdf
  • Q2 FY2024 Earnings Call Transcript (Sep 2023, PDF): https://www.stockscans.in/document/ic730utlupsz8jol6bdmsoju.pdf
  • Q1 FY2024 Earnings Call Transcript (Jun 2023, PDF): https://www.stockscans.in/document/hll2k4cm7b8nwggdnai4ud1q.pdf
  • Q4 FY2023 Earnings Call Transcript (Mar 2023, PDF): https://www.stockscans.in/document/ef360kcvjohg4f4m9192k1sp.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/pfukykgr79odicl29x792s34.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/d12lwswvvkvaob3kks8gdrx0.pdf
  • Q3 FY2026 Quarterly Result (Dec 2025, PDF): https://www.stockscans.in/document/9lc1kug66cel2bej8qm7k348.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/9eaeep1c0ae8zlsi7jnbaqz6.pdf
  • Q1 FY2026 Quarterly Result (Jun 2025, PDF): https://www.stockscans.in/document/3es1dwkdoydafafoah8xfd7w.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/417ndcpb3yb1r5mmcmrnj2k1.pdf
  • Q3 FY2025 Quarterly Result (Dec 2024, PDF): https://www.stockscans.in/document/8oitfh5or7dv25v7cbzi096g.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/29pw1lb03qadwzx4hi9azqcx.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/pvarn9o7e154cpjfdk4w1se2.pdf
  • Q4 FY2026 Investor Presentation (Mar 2026, PDF): https://www.stockscans.in/document/f7tcmn6mj2q53jv50ar3kdld.pdf
  • Q3 FY2026 Investor Presentation (Dec 2025, PDF): https://www.stockscans.in/document/r827p75iyne0btewug5rp5tt.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/enhv6u606wdwg623tagfv872.pdf
  • Q1 FY2026 Investor Presentation (Jun 2025, PDF): https://www.stockscans.in/document/yr7ap3kptjcnbyl8h5wh90af.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/pb6twand7jv871crixym49am.pdf
  • Q3 FY2025 Investor Presentation (Dec 2024, PDF): https://www.stockscans.in/document/8ssek7e9p5aylwy6ysfhci6n.pdf
  • Q2 FY2025 Investor Presentation (Sep 2024, PDF): https://www.stockscans.in/document/jn5x5km013682tr8cto9g643.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/lcquaopz0u76470kmdh8go17.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/lgctq065u9k3fpzebt7psrjr.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/eu3jck6fhip4jmf72dm3qv0n.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/9z7sp6fm61npzz1ij37l2q7a.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/eocb4tjcakg0655zj8ej1wrp.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/l0nx7bsp720jrmj61o7rdrig.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/xht8kveds8wo2xf1nbg18ej9.pdf

Concall Transcript Summaries — Bharat Wire Ropes Ltd

  • Q4 FY2024 Concall Transcript Summary (Mar 2024): https://www.stockscans.in/company/NSE%3ABHARATWIRE/transcript-notes/202403/l87bs3vff0k5tywczef04i7j.pdf
  • Q3 FY2024 Concall Transcript Summary (Dec 2023): https://www.stockscans.in/company/NSE%3ABHARATWIRE/transcript-notes/202312/qcutiebutge2bovi82g4yheu.pdf
  • Q2 FY2024 Concall Transcript Summary (Sep 2023): https://www.stockscans.in/company/NSE%3ABHARATWIRE/transcript-notes/202309/ic730utlupsz8jol6bdmsoju.pdf
  • Q1 FY2024 Concall Transcript Summary (Jun 2023): https://www.stockscans.in/company/NSE%3ABHARATWIRE/transcript-notes/202306/hll2k4cm7b8nwggdnai4ud1q.pdf
  • Q4 FY2023 Concall Transcript Summary (Mar 2023): https://www.stockscans.in/company/NSE%3ABHARATWIRE/transcript-notes/202303/ef360kcvjohg4f4m9192k1sp.pdf

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