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Rajratan Global Wire Results: Latest Quarterly Results & Analysis

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Rajratan Global Wire Ltd. 31 Oct 2025 12:27 PM
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Q2FY26 Quarterly Result Announced for Rajratan Global Wire Ltd.

Auto Parts & Equipment company Rajratan Global Wire announced Q2FY26 results

  • Revenue: Rs 29,417 lakh compared to Rs 24,533 lakh during Q2FY25, change 20%.
  • EBITDA: Rs 4,002 lakh compared to Rs 3,789 lakh during Q2FY25, change 6%.
  • EBITDA Margin: 13.60% for Q2FY26.
  • PBT: Rs 2,683 lakh compared to Rs 2,464 lakh during Q2FY25, change 9%.
  • PAT: Rs 2,055 lakh compared to Rs 1,905 lakh during Q2FY25, change 8%.

Sunil Chordia Chairman and Managing Director, said: "Rajratan reported a creditable performance break-out during the quarter under review.

On a consolidated basis, revenue grew by 20% YoY led by 15% and 21% volume growth in our consolidated and standalone businesses respectively. This led to EBITDA growth of 5.6% YoY and 29.3% QoQ, and Net Profit growth of 7.9% YoY and 52% QoQ. This is a significant improvement over Q1FY26.

To put things in perspective, this was the highest quarter in the company's existence where consolidated volumes for a quarter crossed 32,000 MT while bead wire volumes recorded their highest sales ever at 29,003 MT across all our plants. EBITDA touched Rs 40 cr forthe first time in 13 quarters.

The game-changer in the company’s performance was the decisive turnaround in its new Chennai plant. This plant turned profitable within 12 months of being commissioned - achieving 60% capacity utilisation in the latter half of Q2FY26. The profitable performance of this plant validated the rationale behind its commissioning: the company serviced marquee proximate customers; the geographic re-allocation moderated unproductive dispatches from both our India units, empowering each unit to seek different markets in return for superior return on investment.

The network effect of these two locations – a distinctive Rajratan uniqueness among Indian bead wire companies – generated logistical savings. Besides, an attractive output share was exported from Chennai, broad-basing revenues by geography and moderating an excessive revenue dependence on India. The result was an improvement in earnings by quantity and quality.

During the second quarter of FY26, general market demand for bead wire increased around 5%. Due to softer raw material prices, average realisations and margins in the India business were softer. However higher volumes and profitability in our Chennai plant helped outperform expectations.

The Thailand subsidiary’s operations remained growing and profitable, Chinese competition notwithstanding. Exports and a higher share of sales to quality customers helped deliver a better-than-expected performance. We expect the same to sustain within a 10% variation for the latter half of FY26.

Looking ahead, GST rationalisation on tyres and automobiles could catalyse tyre (and hence bead wire) offtake. As the Chennai plant increases capacity utilisation, the growth impact on the company’s financials could become more evident and sustainable. In view of this, the company expects to sustain its performance momentum, strengthening outcomes."

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Auto Parts & Equipment company Rajratan Global Wire announced Q4FY25 results

  • Operating Revenue: Rs 25,142 lakh compared to Rs 23,957 lakh during Q4FY24.
  • EBITDA: Rs 3,333 lakh compared to Rs 3,441 lakh during Q4FY24.
  • PAT: Rs 1,520 lakh compared to Rs 2,025 lakh during Q4FY24.

Sunil Chordia, Chairman, Rajratan Global Wire, said: FY25 ended for us on a positive note for several factors. The most critical amongst this was an increase in activity in our Chennai facility and greenshoots of our export plans from India.

The last quarter witnessed 85-90% utilisation in our Thailand and Pithampur facilities, which augurs well for our overall profitability. The improvement in volumes from our Chennai plant as well as our strategy to avoid selling in the low-end bicycle tyre market, augurs well for our Chennai business, helping us consolidate strongly at the organisational level.

Higher realisations, increased sales to marquee customers, deliberately low exposure to cycle tyre makers and sharper percentage increase in sales to automotive tyre companies, coated wire customers and exports, enhanced our profitability.

The Indian (standalone) profits, adjusted for the initial operating losses of Chennai, more than doubled over Q3FY25 and was at par with Q4FY24.

The US tariff on our product remain unchanged providing fillip to our global ambition.

During the last quarter, the Board of Directors approved the conversion of our lowvalue-added black wire capacity to higher value-added wire rope which will empower us to achieve similar profitability as our India bead wire business.

On the overall we remain cautiously optimistic in a dynamic global scenario. We expect the scenario to play out positively for Rajratan, reinforcing our sustainable growth efforts.

We look forward to commencing FY26 on a positive note.

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Pharmaceuticals company Solara Active Pharma Sciences announced Q3FY25 & 9MFY25 results

  • Revenue: Rs 21,836 lakhs in Q3FY25 (-6% YoY); Rs 68,383 lakhs in 9MFY25 ( 5% YoY).
  • EBITDA: Rs 2,625 lakhs in Q3FY25 (-23% YoY); Rs 9,364 lakhs in 9MFY25 ( 0.4% YoY).
  • Other Income: Rs 41 lakhs in Q3FY25 (up from Rs -8 lakhs in Q3FY24); Rs 112 lakhs in 9MFY25 (-53% YoY).
  • Profit Before Tax (PBT): Rs 1,235 lakhs in Q3FY25 (-50% YoY); Rs 5,731 lakhs in 9MFY25 (-15% YoY).
  • Profit After Tax (PAT): Rs 932 lakhs in Q3FY25 (-53% YoY); Rs 4,361 lakhs in 9MFY25 (-15% YoY).
  • EBITDA Margin: 12.02% in Q3FY25 (down from 14.71% in Q3FY24); 13.69% in 9MFY25 (down from 14.33% in 9MFY24).
  • PBT Margin: 5.66% in Q3FY25 (down from 10.52% in Q3FY24); 8.38% in 9MFY25 (down from 10.35% in 9MFY24).
  • PAT Margin: 4.27% in Q3FY25 (down from 8.46% in Q3FY24); 6.38% in 9MFY25 (down from 7.93% in 9MFY24).

Sunil Chordia Chairman & Managing Director Said: "The performance of the company during this quarter was mixed. Profit before tax was impacted by 50% YoY, as a result of higher interest costs and depreciation as well as a pressure on realisations. Standalone revenues were softer by 0.3% and EBITDA was lower by 23% YoY (consolidated) following a lower coverage of operating costs (fixed costs) for the Chennai plant.

India sales by volume increased 10% YoY. There was an increase in sales to new international geographies.

The Chennai greenfield plant commenced phased production; assets under use were capitalised from 7th August 2024 and those under installation were reflected in capital work in progress.

Chennai trial run losses (Rs 83.9 million) for the period ended 31st December 2024 were capitalised and recognised in CWIP.

On the positive side, the company retained its market share across geographies; customer approvals for its new Chennai plant increased, and TPM certification (second stage, Pithampur plant) was received.

This indicates a resilience that should translate into improved financials."

Result PDF

Auto Parts & Equipment company Rajratan Global Wire announced Q2FY25 results

  • Rs 21,434 lakh 14% increase in revenues when compared with Q2FY24 Rs 24,533 lakh.
  • 16% increase in volumes sold when compared with Q2FY24.
  • 204 bps increase in EBITDA margin due to higher sales volume and import restrictions (compared with Q1FY25).
  • 25% increase in PAT (compared with Q1FY25) .

Sunil Chordia, Chairman & Managing Director Rajratan Global Wire Ltd.said: After-some quarters of sluggish offtake and challenging market dynamics, there was a marked improvement in the company’s performance in Q2FY25. This improvement was the result of bead wire demand exceeding supply. This was influenced by an increased offtake of tyres (direct sectorial customer) and a decline in imports. We expect a sustained performance improvement in the subsequent quarters for the following reasons: commercialisation of the new Chennai plant and increased utilisation of our Pithampur and Thailand plants. Based on these realities we expect an improved performance for the rest of the financial year.'

Result PDF

Auto Parts & Equipment company Rajratan Global Wire announced Q4FY23 results:

  • Operating revenue dropped by 11% YoY to Rs 21,943 lakh
  • EBITDA lowers by 29% YoY to Rs 3,380 lakh and EBITDA margin lowers by 381 bps at 15.40%
  • PBT was lower by 36% YoY at Rs 2,580 lakh
  • PAT down by 45% YoY to Rs 2,027 lakh

 

 

Result PDF

Auto Parts & Equipment firm Rajratan Global Wire Announced Q1FY23 Result :

  • Average Capacity utilisation stood at 85%.
    • Digitisation of manufacturing process with introduction of machine data loggers implemented across all production departments.
    • Zero Liquid discharge facility fully installed and operational at India manufacturing unit.
    • New patenting furnace installed for 2500 MT, now operational thereby debottlenecking for incremental capacity utilisation.
    • Improved our on-time dispatch rate to 92%.
    • Customer complaints continued to be at record low levels of 0.016%.
    • Capacity expansion update (Chennai – Greenfield – 60,000 TPA):
  • All approvals received from Govt of Tamil Nadu as per targeted schedule.
    • 1st milestone of construction work completed as per schedule with 99% adherence to schedule.
    • Foundation stone laid on 4th July 2022 by Hon’ble CM of Tamil Nadu.

Commenting on the performance, Mr. Sunil Chordia, CMD, Rajratan Global Wire Ltd said “We have continued from where we left off in FY2022 and have continued to focus on outperforming on previous benchmarks across all our production, sales, productivity, customer service and performance metrices. 3 key levers namely our recent debottlenecking at our Pithampur plant, our Thailand plant expansion and our upcoming Greenfield capacity at Chennai will also help us to grow at our targeted 20-25% CAGR (in volume terms) over the next 3 to 5 years. We have also taken up digitisation efforts at our Pithampur (India) plant, which will also be replicated for our upcoming Chennai plant, this will help our production processes and systems become more efficient and smarter. Our rejection rates have continued to be below 0.02% in India which showcases our commitment to quality. Overall our entire team at Rajratan is geared up to “Outperform” on what we have already achieved”

Result PDF

Auto Parts and Equipment company Rajratan Global Wire Limited declares Q3FY22 result:

  • Major developments during the quarter - India
    • The company broad based its sectoral mix beyond the tyre sector: it addressed aluminium clad and optical fibre cable manufacturers.
    • The company executed a long term lease deed with Sipcot Industrial park and received possession of land for its proposed greenfield expansion in Chennai.
    • Commenced a new high speed strand pickling line to enhance productivity and product quality.
    • Company capitalised on competitive ocean freight from India to increase exports to USA and Europe.
  • Major developments during the quarter - Thailand
    • New warehouse constructed with storage capacity of 5,000 MT.
    • Company embarked on a new powder coating plant for spools, which will enhance spools and product quality.
    • Company completed modifications related to the government’s Environment Ipact Assessment requirements.
    • Enhanced shop floor safety and environmental measured.

Commenting on the performance, Mr. Sunil Chordia, CMD, Rajratan Global Wire Ltd said “This quarter performance has continued to build up on the momentum of our efforts to grow with sustainable profits. This has led to our nine-month performance surpassing annual performances of all previous years. We continue to see robust demand for our products in India and Thailand, which has led us to expand our capacity in Thailand by 50% to 60,000 TPA and to work towards setting up a new greenfield capacity in Chennai for an additional 60,000 TPA. Tyre demand continues to be good in domestic and international markets; all major tyre companies are looking to expand capacities in India. We have also continued to focus on improving our overall ESG scores and production efficiencies in both our India and Thailand plants. We continue to “Outperform” and work as a team to deliver value to our shareholders.”

 

 

Result PDF

Strong demand and incremental capacity leads to best ever Revenue, EBITDA and PAT

Financial Performance highlights:

  • Major developments during the quarter - India:
    • The company strengthened its TPM commitment to address JIPM standards.
    • Company strengthened shop floor safety measures.
    • Company introduced an incentive scheme to enhance 5S discipline compliance.
    • Company strengthened its quality assurance and quality control review phenomenon.
    • Company tightened conversion cost and general administrative expense controls.
  • Major developments during the quarter - Thailand:
    • Extension of the building was completed; warehouses construction neared completion.
    • Water treatment plant upgradations was finalised.
    • Pickling line upgradation reported progress.
    • New coating line design and technology neared completion.
    • Environmental Impact Assessment progressed as per schedule
  • Outlook for H2 FY2021-22
    • Tyre (and bead wire) demand expected to sustain into the second half of FY2021-22.
    • The company expects to be allotted land in Sipcot Industrial Park for its proposed third plant.
    • The company is engaged in discussions with EPC contractors for timely plant construction.
    • Wire rod costs expected to increase following an increase in pet coke prices.

Commenting on the performance, Mr. Sunil Chordia, CMD, Rajratan Global Wire Ltd said “We have continued to build up further on the momentum set in the last 18 months since having completed our expansion in India. The company has delivered its highest ever Revenue, EBITDA and PAT ever during the quarter, led by strong demand for bead wire in domestic and export markets. More and more customers are looking to increase their engagement with Rajratan, which has pushed us to setup dedicated teams to engage periodically with customers to ensure timely deliveries. We continue to focus on our vision to become the leading and most preferred bead wire manufacturer and supplies to tyre companies in India and globally.

We continue to “Outperform” and work as a team in the current challenging times to deliver value to our shareholders.”

 

Result PDF

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