Precision Wires Q1 Results: Profit Rises 21%
The company will execute a fresh expansion and modernisation project at Silvassa at an estimated cost of Rs 37 crore.
Precision Wires India Ltd.'s profit rose over 21% in the first quarter. Its consolidated net profit increase to Rs 27 crore during April–June from Rs 22.2 crore.
Revenue grew 16% on the year to Rs 1,104 crore in the first quarter from Rs 952 crore. Its operating net profit advanced 11.7% year-on-year basis to Rs 47.1 crore from Rs 42.2 crore.
However, profit margin declined 10 basis points to 4.3% during April–June from 4.4% in the corresponding period of previous financial year.
The board of Precision Wires India has approved project cost of Rs 28 crore for Zaroli and Rs 5 crore for Valvada, in connection with the expansion of copper rod manufacturing capacity. Now, the total project is aggregating to Rs 33 crore.
Precision Wires India will also execute a fresh expansion and modernisation project at Silvassa to be implemented during 2026 at an estimated cost of Rs 37 crore. After this project, Precision Wires' approximate capacity will increase to 4,400 metric ton per annum by financial year 2027.
Precision Wires India share price settled 2.18% down at Rs 170.05 apiece on Friday. The market cap of the company is Rs 3,038.08 crore.
The Mumbai-headquartered company was set up in 1989. Precision Wires specialises in manufacturing winding wires made of copper. The company produces enameled round and rectangular copper winding wires, continuously transposed conductors, and paper mica nomex insulated copper conductors.
