About Company

• The company was incorporated as ‘Bansal Wire Industries Pvt Ltd’ in 1985. Subsequently the company was converted into a public company and the name of the Company was changed to ‘Bansal Wire Industries Ltd’, in 1995. Bansal Wire Industries has been in the business of manufacturing steel wires catering to various major sectors with a diversified portfolio.

• Bansal Wire Industries along with its subsidiary Bansal Steel & Power Ltd offers 3000+ SKUs (stock keeping units) in 3 segments i.e., high carbon steel wire, mild steel wire (low carbon steel wire) and stainless-steel wire.

• The extensive range of the company’s products include sizes as thin as 0.04 mm to as thick as 15.65 mm like high carbon steel wires for springs, wire for ropes, mild steel wires (low carbon steel wires), stainless steel wires, cold heading quality wires, cable armouring wires and strips, galvanized steel wires in high/ mild steel wire (low carbon steel wire) in wide range of, zinc coating, profile/ shaped wires in various steel grades in different cross sections etc.

• Bansal Wire Industries has 5 manufacturing facilities with 4 units having an installed capacity of 259,000 MTPA of mild steel, high carbon, and stainless-steel wires. Further, the company started production of high carbon wires at Dadri facility by end of January 2024, with an initial capacity of 1,000 metric which has been increased to 3,000 metric tonnes with 78.50% capacity utilisation till March 31, 2024.

• The company exports its products to several countries, with 14 global representatives covering countries like Bangladesh, Brazil, France, Germany, Israel, Italy, Netherland, South Korea, South Africa, Sri Lanka, Turkey, United Kingdom, United States of America and Vietnam. In FY2024, total sales from outside India contributed 11.49% of the company’s total income.

• The company has built its dealer distributor network across 22 states and 6 union territories of India which enables it to cater to more than 5,000 customers spread across various sectors.

• The company’s total income grew at a CAGR of 5.86% from ? 2,205.07 Cr in FY2022 to ? 2,470.89 Cr in FY2024. The EBITDA has increased at a CAGR of 14.87% from ? 113.15 Cr in Fiscal 2022 to ? 149.31 Cr and PAT has increased at a CAGR of 17.28% from ? 57.29 Cr to ? 78.79 Cr during the same period.

Strengths

Competitive Strength 

• Steel wire manufacturers with established market position and strong brand equity

• More than 5,000 customer base with presence across various sectors

• Economies of scale

• Business model with stable and consistent margin profile

• Promoters and management with industry expertise of over 38 years

Business Strategies 

• Expansion of customer base in north India and increase penetration in other geographies

• Focus on increasing our exports sales and growing sectors like automotive and infrastructure

• Entering into B2C segment steel products and establishing retail distribution network

• Increase in margin profile by focusing on high margin products and adding speciality wire segment

• Technological advancement of manufacturing facilities

Company Promoters

Company Financials

Bansal Wire Industries Limited Financial Information (Restated)

Bansal Wire Industries Limited's revenue increased by 1.99% and profit after tax (PAT) rose by 31.48% between the financial year ending with March 31, 2024 and March 31, 2023.

Objects of the Issue

The company proposes to use the Net Proceeds from the Issue for the following purposes:

1. Repayment or prepayment of all or a portion of certain outstanding borrowings availed by our Company and our Subsidiary;
2. Funding the working capital requirements of the company and
3. General corporate purposes.