Bansal Wire Industries Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Bansal Wire Industries Ltd trades at ₹314, in a confirmed uptrend and 3 weeks into that stage. That is +0.5% against its own 200-day average. It sits at 60% of a 52-week range of ₹237 to ₹366. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).

Today the stock is in a confirmed uptrend — week 3 of stage 2, confirmed. At ₹314 it trades +0.5% versus its 200-day average and sits at 60% of its 52-week range (₹237–₹366).

Against the market, two honest reads. Cumulative: over the last 2.0 years the stock moved −12% while the NIFTY 500 moved +1% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-07-10) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 55th percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Bansal Wire Industries Ltd trades at 35.1× P/E, mid-range by its own standards (55th percentile). Its long-run median P/E is 33.0×, measured across 2.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 35.1× is mid-range by its own standards (55th percentile), against a long-run median of 33.0× measured over 2.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +11.3% against a −25.0% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Bansal Wire Industries Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 15.7% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

35.4/100 — rank 3 of 3 in Steel - Wires · 90% evidence confidence

Bansal Wire Industries Ltd scores 35.4 out of 100 against the 3 companies it is compared with in Steel - Wires, ranking 3. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 10 + 12.3 + 5 + 8.1 = 35.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Bansal Wire Industries Ltd reported ₹1,168 Cr of revenue in the Jun 26 quarter, +24.4% year on year. That is the 9th straight quarter of year-on-year growth. Over 4 years it has compounded at 17.3% a year. The last full year, FY26, came in at ₹4,160 Cr. The last four reported quarters add to ₹4,388 Cr.

Bansal Wire Industries Ltd reported ₹1,168 Cr of revenue in the Jun 26 quarter, +24.4% year on year. That is the 9th straight quarter of year-on-year growth. Over 4 years it has compounded at 17.3% a year. The last full year, FY26, came in at ₹4,160 Cr. The last four reported quarters add to ₹4,388 Cr.

FY26 revenue came in at ₹4,160 Cr (+18.6% on the year), capping 4 years at 17.3% compound. The latest quarter (Jun 26) printed ₹1,168 Cr, +24.4% year on year — the 9th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +21.1% growth against the decade's 17.3% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +20.9% over the last 4 quarters against +26.7%/yr over the last 8 — rolling over; TTM profit −8.4% vs +25.9%/yr — rolling over.

→ Revenue grew — did margins hold as it scaled? Next: 5.0% this quarter (−3.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Bansal Wire Industries Ltd's operating margin is 5.0% in the Jun 26 quarter, −3.0 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 4.0% to 8.0%. The current quarter sits inside that band.

Bansal Wire Industries Ltd's operating margin is 5.0% in the Jun 26 quarter, −3.0 percentage points against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 4.0% to 8.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 5.0%, −3.0 pp against the same quarter a year ago. Across 5 fiscal years the operating margin has ranged 4.0%–8.0%.

🚨 Why the margin moved: operating margin went −2.8 pp year on year while gross margin went −2.8 pp — the loss came mostly from the gross line: input costs and pricing.

→ Margins slipped — did that reach the bottom line? Next: profit −48.7% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Bansal Wire Industries Ltd earned ₹20.0 Cr of net profit in the Jun 26 quarter, −48.7% year on year. Full-year FY26 profit was ₹161 Cr. The 4-year compound rate is 29.6%. That is 1.7% of the quarter's revenue. The same quarter a year earlier earned ₹39.0 Cr.

Bansal Wire Industries Ltd earned ₹20.0 Cr of net profit in the Jun 26 quarter, −48.7% year on year. Full-year FY26 profit was ₹161 Cr. The 4-year compound rate is 29.6%. That is 1.7% of the quarter's revenue. The same quarter a year earlier earned ₹39.0 Cr.

Jun 26 profit was ₹20.0 Cr, −48.7% year on year. On the full year, FY26 printed ₹161 Cr (+10.3%), and the 4-year compound rate is 29.6%.

🚨 Why profit moved: revenue contributed +24.4% and the margin −3.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −7.5% vs revenue +21.1%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

→ Profit rose — but did the cash follow? Next: −94% of the last 3 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −94% of Bansal Wire Industries Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹333 Cr of operating cash against ₹161 Cr of profit. After ₹231 Cr of capital spending, ₹102 Cr was left as free cash.

FY26: operating cash of ₹333 Cr against reported profit of ₹161 Cr, leaving free cash of ₹102 Cr after ₹231 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −94% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at −94%: the cash cycle held roughly steady between FY22 and FY26 — so conversion tracks profitability rather than the cycle. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 9.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹991 Cr of building over 3 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Bansal Wire Industries Ltd's cash conversion cycle runs 91 days in FY26, down from 92 days in FY22. Capital spending ran ₹991 Cr over the last 3 years. At FY26 sales of ₹4,160 Cr each day of that cycle holds about ₹11.4 Cr, so roughly ₹1,037 Cr sits inside the business at any moment.

FY26: debtors at 52 days, inventory at 81 days — roughly 2.7 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 91 days, tighter than FY22's 92.

The full loop: cash goes out to suppliers and production on day 0; stock waits 81 days to sell; customers pay about 52 days after that; and suppliers themselves are paid at 42 days — netting out to the 91-day cycle.

In money terms: at FY26 sales of ₹4,160 Cr, each day of the cycle holds about ₹11.4 Cr — so the 91-day loop keeps roughly ₹1,037 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹991 Cr over the last 3 fiscal years against ₹100 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹214 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 14% and the ROIC − WACC spread is −2.8 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Bansal Wire Industries Ltd earns a ROCE of 14% in FY26. Return on invested capital clears the cost of that capital by −2.8 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 3.9% net margin on 1.65× asset turns.

FY26 ROCE is 14%.

🚨 Why the return is what it is — the wiring (FY26): 3.9% net margin × 1.65× asset turns × 1.76× balance-sheet leverage ≈ 11.3% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 9.2% − 12.0% = a −2.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.39.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.

Bansal Wire Industries Ltd carries total debt of ₹555 Cr against shareholder equity of ₹1,431 Cr as of Jun 26, a debt-to-equity of 0.39. On the annual view that ratio went from 1.48 in FY24 to 0.39 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Jun 26: total debt of ₹555 Cr against shareholder equity of ₹1,431 Cr — a debt-to-equity of 0.39. On the annual view, debt-to-equity went from 1.48 (FY24) to 0.39 (FY26). Read the returns on this page with that leverage in mind.

→ Who owns this, and are they adding or leaving? Next: Promoters cut 3.0 points over 8 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 3.0 points of Bansal Wire Industries Ltd over 8 quarters, the biggest move on the register. That takes promoters to 75.0% of the company. Domestic institutions moved +2.5 points over the same window, to 15.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −3.0 points over 8 quarters to 75.0%; Domestic institutions: +2.5 points over 8 quarters to 15.6%; Foreign institutions: −0.3 points over 8 quarters to 2.0%.

🚨 Why the register moved: promoters drove it (−3.0 points), absorbed on the other side by domestic institutions (+2.5 points) — distribution into the market’s bid.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Bansal Wire Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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