Bansal Wire Industries to expand capacity to 6 lakh MTPA by FY24 end to meet rising demand

Bansal Wire Industries Limited (BWIL) conducted its 39th Annual General Meeting (AGM) on September 30, 2024. During the AGM, the company reported a significant financial performance in FY24, showcasing a robust business trajectory. BWIL’s EBITDA saw an impressive growth of 30%, reaching INR 1,493 million. The net profit also rose by 25%, amounting to INR 752 million, driven by strategic cost containment across multiple categories. This financial achievement demonstrates the company’s continued commitment to strong operational efficiency and growth.

In light of the increasing demand for steel wire products in India and globally, BWIL has outlined its expansion plans. The company is set to enhance its production capacity to 6 lakh MTPA (Metric Tonnes Per Annum) by the end of the current financial year. The expansion is primarily facilitated through the completion of their Dadri plant, which is expected to play a crucial role in the company’s capacity increase. This aligns with BWIL’s strategy to capitalize on growing domestic and international demand.

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The company, known for its diverse product portfolio in the steel wire segment, highlighted its well-executed diversification strategy during the AGM, covering industries ranging from construction and infrastructure to automotive and consumer durables. BWIL continues to position itself to meet market needs effectively and aims for sustainable growth through ongoing investments in technological advancements and operational excellence.