Bansal Wire Industries Q1 Results Total Income ₹6,778.27 Million & PAT ₹259.55Million

Bansal Wire Industries Q1 Results 

Bansal Wire Industries Q1 Results: Bansal Wire Industries has released its financial results for the quarter ending June 30, 2024. The company made ₹6,766.08 million from its operations in this quarter, which is higher than the ₹5,709.06 million from the previous quarter but lower than the ₹5,479.09 million from the same quarter last year. They also earned ₹12.19 million in other income, making their total income for this quarter ₹6,778.27 million.

 Bansal Wire Industries’ total expenses for the quarter were ₹6,430.63 million. This includes costs for materials (₹5,329.22 million), changes in inventory (-₹36.74 million), employee benefits (₹192.78 million), finance costs (₹93.89 million), and other expenses (₹826.07 million). The company’s profit before any exceptional items and taxes was ₹347.64 million, and after considering exceptional items, it was ₹347.73 million.

After paying taxes of ₹88.18 million,  Bansal Wire Industries’ net profit for the quarter was ₹259.55 million. Additionally, they had an other comprehensive loss of ₹2.04 million, resulting in a total comprehensive income of ₹257.51 million. The company’s earnings per share for this quarter are ₹2.04. The paid-up share capital remains ₹637.27 million.

Here is the summarized financial statement for Bansal Wire Industries for the quarter ended June 30, 2024:

(Amount in Rs. Million unless otherwise stated)

Source: Here 

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Bansal Wire Industries Financial Performance

The table provides key financial details about Bansal Wire Industries. The Market Cap of ₹6,976 Crore shows the company's total value in the stock market. The Current Price of ₹446 indicates the price of one share. The High / Low values of ₹459 and ₹325 represent the highest and lowest prices the stock has reached recently. The Stock P/E ratio of 105 means the stock is highly priced relative to its earnings. The Book Value is not specified. 

Here's the information in a table format:

About Bansal Wire Industries

Bansal Wire Industries is a major player in the steel wire manufacturing industry in India. Founded in 1985, the company has grown to become the largest manufacturer of stainless steel wire and the second largest in overall steel wire production in the country. In fiscal 2023, Bansal Wire produced 72,176 metric tons of stainless steel wire and 206,466 metric tons of steel wire, capturing significant market shares of 20% and approximately 4%, respectively.

With a legacy spanning 38 years, Bansal Wire Industries has built a strong reputation for quality and reliability. They offer a diverse range of products, with over 3,000 different stock-keeping units (SKUs), ranging from very thin wires of 0.04 mm to thicker ones of 15.65 mm. Their customer base includes more than 5,000 clients across various sectors, such as automotive, infrastructure, hardware, and agriculture.

Bansal Wire Industries operates under a strategic business model that protects it from market fluctuations by ensuring no single customer or sector dominates its sales. Bansal Wire Industries has a robust presence in over 50 countries and is expanding its operations with a new large manufacturing facility in Dadri, India. The company’s facilities are certified for quality and environmental management, underscoring their commitment to high standards and sustainable practices.