Bansal Wire Industries Limited, the country's largest stainless steel wire manufacturer and the second-largest steel wire manufacturer by volume, reported a robust 171.9 per cent increase in net profit to Rs 416.8 million for the third quarter ended 31st December 2024. The company's revenue for Q3 FY25 rose by 52.6 per cent  to Rs 9,246.1 million, while EBITDA grew to Rs 731.3 million, up 98.7 per cent  from Rs 368.1 million in the corresponding period last year.

For the nine months ended 31st December 2024, the company's net profit stood at Rs1,132.5 Mn, up 123.1 per cent year-on-year. Revenue for the period reached Rs 25,669.7 Mn, reflecting a 46.1 per cent  year-on-year growth, while EBITDA rose by 99.0 per cent to Rs 2,034.8 Mn.

Commenting on the company's performance, Pranav Bansal, MD & CEO of Bansal Wire Industries Limited, said, "During the quarter, we delivered a resilient financial performance and strong operational execution, ramping up new lines for value-added products and driving value-led volume expansion while sustaining growth momentum through strategic initiatives.

In the Indian steel wire market, we are advancing with innovative and sustainable solutions, with 70 per cent renewable energy usage in some plants and progress towards water positivity, alongside exploring green steel for new products. Leveraging our automotive expertise, we are introducing advanced products to enhance tyre efficiency, rolling resistance, and fuel economy.

While challenges such as fluctuating raw material prices and geopolitical risks persist, international expansion into the US and Europe presents significant opportunities. "We remain committed to product quality and will soon be the only Indian company with an in-house R&D wing dedicated to new product development."

This quarter marked a significant milestone for the company with the commencement of production at its specialty wire vertical in Dadri. The facility introduced three critical products: Bead Wire, Hose Wire, and Steel Tyre Cord, with Bead Wire and Hose Wire successfully launched during the period. The market potential for these products is substantial, with an estimated annual demand of 450,000 tonnes. To capitalise on this opportunity, the company has established a state-of-the-art pilot project with a capacity of 50,000 tonnes. This initiative reinforces the company's commitment to innovation and strengthens its ability to meet the evolving needs of this dynamic market segment.