Bharat Wire Ropes share price today

Bharat Wire Ropes Ltd's share price was ₹149.95 at the close on 4 November 2026. It has been falling for 8 weeks. That is 19.1% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹142 and ₹251, and at that close it sat 8% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Bharat Wire Ropes Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 23 weeks running.

Over the last 11 years the share price moved +247% while the NIFTY 500 moved +228%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 17 June 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

For April to June 2026 (the quarter ended 30 June 2026), Bharat Wire Ropes reported revenue of ₹130 crore, down 8.5% from ₹142 crore a year earlier, and a profit of ₹12.0 crore, down 25.0% from ₹16.0 crore.

Bharat Wire Ropes results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 3 May 2024, about January to March 2024; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Bharat Wire Ropes closed at ₹149.95 on 4 November 2026, down 24.0% from ₹197.43 a year earlier (7 November 2025) and up 161.9% over five years. Its highest weekly close since April 2016 was ₹395.15 on 12 January 2024.

Bharat Wire Ropes share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

556 weekly closes from 22 April 2016 to 4 November 2026.

4 Nov 2026: Bharat Wire Ropes closed at ₹149.95, up 5.8% on the week and down 6.4% on the month. Results for April to June 2026: Revenue down 8.5% and profit down 25.0% on a year earlier.

Earlier

• 3 May 2024: Bharat Wire Ropes held its results call for January to March 2024.

Bharat Wire Ropes has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

No. Bharat Wire Ropes Ltd paid out 0% of its profit as dividends in each of its last 12 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for January to March 2024, held on 3 May 2024, Bharat Wire Ropes' management spoke about the quarter; the main points are below.

Source: the call transcript.

From the call for January to March 2024, 3 May 2024. The April to June 2026 results are out since, so this part may be out of date until we update it.

What is changing at Bharat Wire Ropes, from the latest results and calls: value-added product mix shift, us market penetration (8% → 13% revenue share) and debt reduction and interest cost deleveraging.

• Value-Added Product Mix Shift. Shifting from commodity wire ropes to elevator ropes, compacted ropes, high-zinc coated ropes (currently 10-15% of mix, goal 20%+), realizations 30%+ higher than standard products, with materially better operating profit per ton. ⚠ estimate
• US Market Penetration (8% → 13% revenue share). US revenue share risen from 8% to 13% despite initial tariff-driven customer caution, product quality acceptance confirmed in the world's most demanding wire rope market. ⚠ estimate
• Debt Reduction and Interest Cost Deleveraging. D/E below 0.2, long-term debt repayment from cash flows (₹60 Cr repaid Sep 2022-Sep 2023), interest costs approximately 3% of turnover, each ₹10 Cr reduction in interest flows directly to profit. ⚠ estimate
• Industrial Promotion Subsidy (Maharashtra PSI, EXPIRED Oct 2025). ₹435 Cr total eligibility subsidy expired October 2025, post-expiry operating margin test is now live; management asserted operating profit sustainable at 10% without subsidy. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 17 May 2026.

₹40-50 Cr annual subsidy (booked as revenue) expired October 2025; post-expiry operating margin is now the live test of management's self-sufficiency claim.

The main risks

• Subsidy expiry confirmed October 2025, post-expiry operating margin test now live: ₹40-50 Cr annual subsidy (booked as revenue) expired October 2025; post-expiry operating margin is now the live test of management's self-sufficiency claim. ✓ fact
• Working capital elongation, 140-154 days cash conversion cycle: Cash conversion days increased from 140 (FY24) to 154 (FY25), inventory and debtor buildup compresses free cash flow even as profit grows, limiting actual cash available for pledge reduction or capital spending. ✓ fact
• US tariff escalation reversing volume gains: Further escalation in US trade protectionism on steel products could reverse the 8→13% US revenue share gain, the most valuable export market for wire ropes. ✓ fact
• Volume growth guidance miss, 7% FY24 actual vs 15% guidance: FY24 volume grew approximately 7% vs management guidance of 15%, margin expansion compensated, but volume acceleration is the real unlock for the debottlenecking thesis. ✓ fact

Our read after the latest results, written 17 May 2026.

When Bharat Wire Ropes reports July to September 2026, these are the 5 checks that show whether the story is still on course. First: Promoter pledge % in quarterly shareholding disclosures.

Bharat Wire Ropes is on one of our India lists: 52 week high & low.

Bharat Wire Ropes Ltd earned ₹12.0 Cr of net profit in the Jun 2026 quarter, −25.0% on the same quarter a year earlier. Full-year FY26 profit was ₹72.0 Cr. Over 10 years profit has grown 53.4% a year on average. That is 9.2% of the quarter's revenue. The same quarter a year earlier earned ₹16.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹72.0 Cr (+0.0% on the year before).

Why profit moved: revenue changed −8.5% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −3.3% and revenue −7.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Bharat Wire Ropes Ltd reported ₹130 Cr of revenue in the Jun 2026 quarter, −8.5% on the same quarter a year earlier. Over 10 years it has grown 25.5% a year on average. The last full year, FY26, came in at ₹591 Cr. The last four reported quarters add to ₹579 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The US market gain is qualitatively significant because it demonstrates actual customer wins against established Korean and Turkish competition. Management noted US customers were initially cautious after tariff imposition, but acceptance improved as product quality was validated. With 200+ customers globally (top 5 under 20% concentration) and current exports to 50-55 countries with a goal of 80-85, the US is the bellwether geography for quality validation. Each percentage point of US mix improvement flows to higher overall blended realization.

FY26 revenue was ₹591 Cr, −4.5% on the year before.

Recent pace: the last four quarters grew −7.4% on average, against 25.5% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −7.8%, against −1.4% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −4.2%, against −13.1% a year (accelerating).

Bharat Wire Ropes Ltd's operating margin was 20.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 12 years it has been between 8.0% and 26.0%. The latest quarter is within that range.

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

Why this happened. The single most durable structural driver. Management consistently articulated across all 4 concalls (Q1-Q4 FY24) the strategy of increasing value-added product share from the current 10-15% toward 20%+. Value-added products carry at least 30% higher realization versus commodity wire ropes, and some specialty products reach ₹500-600/kg. At ₹40,000 EBITDA per ton (Q1 FY24), this is the primary lever to expand OPM beyond the current 26% ceiling. The FY24 margin expansion of 283 bps was partly driven by this mix shift alongside raw material and power cost reduction.

Why the margin moved: operating margin changed −1.7 percentage points on the year while gross margin changed +3.1 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 107% of Bharat Wire Ropes Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹98.0 Cr of operating cash against ₹72.0 Cr of profit. After ₹32.0 Cr of spending on assets, ₹66.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 107% of profit came in as cash: the cash cycle got 12 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 1.8× depreciation over three years. The next section checks what that spending is building.

Bharat Wire Ropes Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 188 days in FY26, up from 176 days in FY21. It spent ₹122 Cr on assets over the last 3 years. Customers take 60 days to pay, and stock sits for 140 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹591 Cr, each day of that cycle ties up about ₹1.6 Cr, so roughly ₹304 Cr is tied up in the business at any time.

FY26: customers took 60 days to pay and stock sat for 140 days, about 4.6 months of sales sitting as stock, for a full cycle of 188 days, longer than FY21's 176.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 140 days. Customers pay about 60 days after that. Suppliers are paid at 12 days. Together that makes the 188-day cycle.

Spending on assets: ₹122 Cr over the last 3 years, against ₹67.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹4.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Bharat Wire Ropes Ltd's P/E is 14.9×, near the low end of its own history: it has been lower only 9% of the time. Its usual P/E (the middle reading) is 20.7×, over 10 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why this happened. The Maharashtra PSI subsidy provided approximately ₹40-50 Cr in annual cash flow support through October 2025. Approximately ₹40 Cr was expected in FY25 (final year). The subsidy was booked as part of revenue, so its expiry has reduced reported revenue and compressed reported PAT margin. The post-expiry OPM test (sustaining above 22% on underlying business alone) is the critical near-term milestone M1. Management explicitly stated EBITDA could sustain at 10%+ without subsidy, this claim is now verifiable.