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Rajratan Global Wire Ltd

| Quarterly Financial Results Q3 FY 2025–26

BULLISH SENTIMENT

Report Source

⬤21st Jan 26

Summary : Rajratan Global Wire Limited reports strong Q3 and 9M FY26 consolidated financial results, driven by operational growth and ongoing greenfield expansion, while addressing new labor code impacts.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Total expenses Q3 FY26: 27,536 Lakhs (vs 20,643 Lakhs in Q3 FY25).
  2. Consolidated Total expenses 9M FY26: 77,386 Lakhs (vs 62,764 Lakhs in 9M FY25).
  3. Standalone Total expenses Q3 FY26: 16,788 Lakhs (vs 12,996 Lakhs in Q3 FY25).
  4. Standalone Total expenses 9M FY26: 48,704 Lakhs (vs 38,755 Lakhs in 9M FY25).
  5. Key expenses include cost of materials, employee benefits, finance cost, depreciation.
  6. Consolidated Total Revenue Q3 FY26: 30,206 Lakhs (vs 21,877 Lakhs in Q3 FY25).
  7. Consolidated Total Revenue 9M FY26: 84,522 Lakhs (vs 68,495 Lakhs in 9M FY25).
  8. Standalone Total Revenue Q3 FY26: 18,584 Lakhs (vs 13,863 Lakhs in Q3 FY25).
  9. Standalone Total Revenue 9M FY26: 53,628 Lakhs (vs 43,240 Lakhs in 9M FY25).
  10. Incremental liability for employee benefits (Rs. 58.80 lakhs) and actuarial gains (Rs. 28.86 lakhs) due to new Labour Codes.
  11. Both standalone and consolidated results are presented.
  12. Consolidated results include Rajratan Global Wire Limited, Rajratan Thai Wire Company Limited, and Rajratan Wire, USA Inc.

Corporate Overview

  1. India
  2. Thailand
  3. USA (through subsidiaries)
  4. Evaluating the full impact of new Labour Codes.
  5. Single operating segment: Tyre Bead Wire.
  6. Formal and informative, reporting financial results and board approvals.
  7. Revenue from operations
  8. Other income
  9. Wire rope plant at Greenfield Project at Pithampur under development.
  10. Wire rope plant at Greenfield Project at Pithampur is under development.

Risk Factors

  1. Uncertainty from new labor codes.
  2. Rules for new labor codes pending.
  3. Reliance on other auditors' reports.
  4. Greenfield project development risks.

Key Drivers

  1. Strong revenue growth quarter-on-quarter.
  2. Significant increase in net profit.
  3. Greenfield plant development progressing well.
  4. Positive earnings per share growth.

Auditor’s Report

  1. Review report, not an audit opinion.
  2. No material misstatement identified in financial statements.
  3. Reliance on independent auditors' reports for subsidiaries (Rajratan Thai Wire Company Limited and Rajratan Wire, USA Inc.).

Board Commentary

  1. Impact of new Labour Codes on company operations and financials.
  2. New Labour Codes effective from November 21, 2025, with supporting rules pending notification.
  3. Company evaluating full impact of new Labour Codes.
  4. Wire rope plant at Greenfield Project at Pithampur under development.

Corporate Governance

  1. Auditors communicate compliance with ethical requirements.
  2. Auditors confirm compliance with ethical requirements regarding independence.
  3. Audit Committee reviewed and Board of Directors approved financial results.

Management Discussion & Analysis

Operational Focus Areas

  1. Evaluating impact of new Labour Codes.
  2. Capitalizing finance cost and employee benefits for new plant.

Performance Drivers

  1. Strong growth in consolidated revenue and net profit.

Risk Control Measures

  1. Estimated and accounted for incremental liability for new Labour Codes.

Critical Risks

  1. Uncertainty regarding the full impact of new Labour Codes.