Bansal Wire Q1 FY25 EBITDA jumps 127.4% to ₹ 622 Mn
Mumbai, 1st August, 2024: Bansal Wire Industries Limited, country’s largest stainless steel wire manufacturing company and second largest steel wire manufacturing company by volume, reported 82% jump in net profit to ₹ 315 Mn for the first quarter ended June 30, 2024. The Company’s revenue for Q1 FY25 rose 49.1% to ₹ 8,169 Mn; while EBITDA grew to ₹ 622 Mn, up 127.4% compared to ₹ 274 Mn in Q1 FY24.
Commenting on the performance, Mr. Pranav Bansal, MD & CEO, Bansal Wire Industries Limited said, “Following the tremendous success of our recent Initial Public Offering (IPO), we are thrilled to announce another outstanding quarterly performance, showcasing our operational efficiencies and capabilities. We anticipate sustained growth momentum throughout FY25 as the Government’s ongoing focus on infrastructure development, automotive industry and an expected increase in capital expenditure, presents a highly favourable environment for our industry. Bansal Wire is strategically positioned to capitalize on these opportunities and drive continued success in the coming years.”
