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Swing Capital

Bharat Wire Ropes Ltd

NSE: BHARATWIRE BSE: 539799Metal

Bharat Wire Ropes Limited is engaged in the business of manufacturing Steel Wire, Wire Ropes, Strands and Slings. [1]

₹215
52W: ₹148 — ₹262
PE 20.4 · Book ₹118 · +82% vs book
Market Cap₹1,475 Cr
Stock P/E20.4Price to Earnings
ROCE12.3%Return on Capital
ROE12.4%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Promoters have pledged 51.0% of their holding.

Shareholding Pattern

Promoters41.27%
FIIs4.42%
DIIs0.32%
Public54%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters40.98%40.93%▼0.041.25%▲0.341.36%▲0.141.27%▼0.141.27%41.27%41.27%
FIIs3.08%3.15%▲0.13.12%▼0.02.83%▼0.32.72%▼0.12.06%▼0.72.34%▲0.34.42%▲2.1
DIIs2.61%2.6%▼0.02.6%2.6%2.61%▲0.02.6%▼0.00.87%▼1.70.32%▼0.6
Public53.33%53.32%▼0.053.02%▼0.353.22%▲0.253.4%▲0.254.06%▲0.755.52%▲1.554%▼1.5

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales157147133152162172142165143141
Expenses113110101118133135112126110112
Operating Profit44373334293730383330
OPM %28%25%24%22%18%22%21%23%23%21%
Net Profit26221819152116221816
EPS ₹3.883.22.642.762.173.012.283.232.662.4

AI Insights

Revenue Trend

Mar 2026 revenue at ₹591Cr, down 4.5% YoY. OPM at 22%.

Debt Position

Borrowings at ₹75Cr. Debt-to-equity ratio: 0.10x. Healthy balance sheet.

Capex Cycle

CWIP at ₹4Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.32% (-2.88pp change). FIIs: 4.42% (+3.36pp change). Promoters hold 41.27%.

Margin & Efficiency

ROCE improving from 6% (Mar 2015) to 12% (Mar 2026). Working capital days: 219.

Valuation

PE 20.4x with 12.3% ROCE. Price is 82% above book value of ₹118. Dividend yield: 0%.

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