Bansal Wire Industries Limited, the country's stainless steel wire manufacturing company and the second-largest steel wire manufacturer by volume, reported a 120.76 per cent increase in net profit to Rs 400.59 Mn for the second quarter ended 30 September 2024. The company's revenue for Q2 FY25 rose by 36.79 per cent to Rs 8,254.49 Mn, while EBITDA increased to Rs 681.04 Mn, up 78.91 per cent compared to Rs 380.66 Mn in the corresponding period last year.
For the first half ended 30 September 2024, the company's net profit was Rs715.73 Mn, up 101.94 per cent year-on-year (YoY). Revenue for the period stood at Rs 16,423.65 Mn, growing 42.65 per cent YoY, while EBITDA rose by 99.18 per cent to Rs 1,303.47 Mn.
Commenting on the performance, Pranav Bansal, MD & CEO of Bansal Wire Industries Limited, said, "We are pleased to report sustained growth, propelled by strong demand and the progressive operationalisation of our Dadri facility. I am proud to share that we are well on course to fully commission the facility by the fiscal year-end. The second quarter saw a strong order inflow, and we expect this momentum to continue into H2, supported by ongoing economic growth and increased infrastructure spending. We are building a solid foundation through a diversified product portfolio along with an expanded retail distribution network, which will enhance our margins as we advance into high-value product segments and deepen our presence in the B2C market."