Bansal Wire Industries Limited stands as India's second-largest steel wire manufacturer by volume and the country's largest stainless steel wire manufacturer. Incorporated in December 1985, the company has evolved from a small wire trading business into a comprehensive steel wire manufacturing powerhouse with over three decades of operational excellence. The company serves over 5,000 customers across more than 50 countries, maintaining an impressive 89.56% retention rate among its top 300 clients. With a legacy of 38 years, Bansal Wire Industries has built a diversified portfolio catering to automotive, general engineering, infrastructure, hardware, consumer durables, power and transmission, agriculture, and auto replacement sectors.
Bansal Wire Industries has demonstrated robust financial performance. As of June 20, 2025, the company has a market capitalization of ₹5,883.37 crores. The company's net profit rose significantly by 41.72% to ₹33.12 crores in Q4 FY25 compared to ₹23.37 crores in Q4 FY24. Concurrently, sales increased by 32.68% to ₹940.20 crores from ₹708.62 crores in the same period. For the full year FY25, net profit surged by an impressive 96.44% to ₹144.62 crores from ₹73.62 crores in FY24, with sales rising by 42.22% to ₹3,507.17 crores from ₹2,466.03 crores.
Key financial metrics as of June 2025:
- P/E Ratio: 40.68
- P/B Ratio: 12.76
- 52-week high: ₹503.95
- 52-week low: ₹323.15
The company anticipates a 20-25% annual growth in FY26, focusing on volume expansion. Despite anticipating a 15-20% drop in margins due to product mix changes, strategic capital expenditures of ₹600 crores are planned to enhance production capacity and operational efficiency. Efforts to normalize the tax rate are expected to further improve financial health.
Bansal Wire Industries operates a state-of-the-art facility in Dadri, positioned as one of the most advanced and sustainable wire manufacturing units in the country. The facility currently boasts a production capacity of 3.6 lakh MTPA, with plans to scale up to 4.2 lakh MTPA by H1 FY26. The company's total infrastructure is capable of supporting up to 6 lakh MTPA. The plant houses a fully equipped R&D Centre dedicated to developing high-performance wires for key sectors. The manufacturing facilities are certified with ISO 9001:2015, ISO 14001:2015, IATF:16949:2016, and IS 6528:1995.
The company's operations are divided into three primary segments: high carbon steel wire, low carbon steel wire (mild steel wire), and stainless steel wire. The product portfolio has recently expanded to include Aluminum Alloy Wire as a fourth stream. Bansal Wire Industries manufactures over 3,000 different types of steel wire products, with sizes ranging from as thin as 0.04 mm to as thick as 15.65 mm, offering the highest number of stock-keeping units (SKUs) among Indian steel wire manufacturers.
The extensive product range encompasses various grades of stainless steel wires, stainless steel bright bars, high carbon steel wires for springs and wire ropes, low carbon galvanized wires for general engineering applications, cable armouring wires and strips for power transmission, and profile/shaped wires for specialized applications.
Bansal Wire Industries has ambitious plans to increase its production capacity by 2.5 times, targeting a 24% sales volume Compound Annual Growth Rate (CAGR). The company aims for 20-25% annual growth in FY26, with a strategic focus on volume expansion. Challenges such as rising raw material costs have led to a decline in gross margins. Consequently, a cautious outlook for EBITDA in FY26 is noted, primarily due to a shift in the product mix towards lower-margin segments. Strategic capital expenditures of ₹600 crores are earmarked for enhancing production capacity and operational efficiency.
With a well-diversified customer base exceeding 5,000 clients across various sectors, Bansal Wire Industries has established a robust network that fuels sustained growth. A de-risking strategy ensures that no single customer accounts for more than 5% of total sales. The company's flexible product mix and plant capabilities enable it to adapt production lines across different sectors based on evolving industry demands. Bansal Wire Industries has a strong pan-India presence and exports its products to over 50 countries, solidifying its position as a significant player in the global market. Since 2021, the company has invested in a sales team of over 50 experienced professionals to effectively cover all Indian regions and cater to its extensive customer base.
Anand Rathi initiated coverage on Bansal Wire Industries with a 'Buy' rating and a target price of ₹550 on June 20, 2025. The company is actively expanding its capacity and venturing into high-margin products, with projections of significant growth in sales volume, revenue, and EBITDA in the coming years. DAM Capital also initiated coverage with a Buy rating and a target price of ₹481 on June 11, 2025, forecasting strong growth driven by a 62% capacity expansion and robust financial projections. Bansal Wire Industries successfully completed its Initial Public Offering (IPO) in July 2024, with shares listed on BSE and NSE on July 10, 2024, at an IPO price of ₹256 per share, marking a key milestone in the company's growth trajectory.
