India · Delayed Price · Currency is INR Rajratan Global Wire Earnings Call Transcripts
Fiscal Year 2026
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Sales volume grew 18% year-over-year, with robust demand and market share recovery despite margin pressure from raw material costs. Capacity expansions in Chennai and new steel cord projects are set to drive 17%-18% growth in FY 2027, with margins expected to normalize.
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Q2 FY26 saw 20% revenue growth and record sales volumes, driven by strong India and Thailand operations and Chennai ramp-up. Export targets are set at 40,000 tons for FY27, with major CapEx underway for Chennai and a new wire rope facility. Margins remain robust despite competitive and cost pressures.
Fiscal Year 2025
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Q4 FY25 saw a strong recovery with improved margins, driven by Chennai ramp-up and export gains. FY26 targets 15% volume growth, margin improvement, and Wire Rope business launch, while competition and tariffs remain key risks.
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Strong volume growth in India and Thailand drove improved margins, with the Chennai plant ramping up and export initiatives gaining traction. Competition and Chinese dumping remain key risks, but guidance for 20% volume growth and 15-16% EBITDA margin is maintained.