Precision Wires September profit rises 22% as sales climb 59%

Precision Wires India Limited reported net profit of Rs 43.3854 crore for the quarter ended 30 September 2026, up 22% year-on-year, as revenue from operations rose 59% to Rs 1,950.0147 crore. The standalone result also included finance cost of Rs 33.1835 crore and a Rs 93.085 crore first-half working-capital cash outflow.

How did Precision Wires perform in the September quarter?

Precision Wires increased net profit to Rs 43.3854 crore in the quarter ended 30 September 2026 from Rs 35.6119 crore in the quarter ended 30 September 2025. Profit before tax rose to Rs 59.5647 crore from Rs 48.429 crore, while earnings per share increased to Rs 2.37 from Rs 1.98 on equity shares with a face value of Rs 1 each.

Revenue from operations reached Rs 1,950.0147 crore, compared with Rs 1,226.0321 crore a year earlier. Total revenue, which includes other operating income, increased to Rs 1,972.0188 crore from Rs 1,237.405 crore, while other operating income rose to Rs 22.0041 crore from Rs 11.3729 crore.

Sequentially, Precision Wires' revenue from operations rose by Rs 179.5299 crore from the June 2026 quarter, but net profit declined by Rs 3.068 crore from Rs 46.4534 crore. Profit before tax was Rs 2.3236 crore lower than in June, alongside a Rs 18.7028 crore increase in finance cost.

What changed in Precision Wires' costs during the quarter?

Precision Wires' raw-material consumption increased to Rs 1,887.8141 crore in the September 2026 quarter from Rs 1,109.9711 crore a year earlier. This Rs 777.843 crore increase was the largest reported cost movement and accompanied the Rs 723.9826 crore increase in revenue from operations.

The company recorded a negative Rs 91.5817 crore charge for changes in inventories of finished goods, work in progress and stock in trade, compared with a positive Rs 3.4308 crore charge in the September 2025 quarter. Employee-benefit expense rose to Rs 15.7074 crore from Rs 14.4007 crore, depreciation and amortisation rose to Rs 9.3755 crore from Rs 6.7976 crore, and other expenses increased to Rs 41.9668 crore from Rs 28.6651 crore.

Finance cost was Rs 33.1835 crore, compared with Rs 15.1178 crore in the year-earlier quarter and Rs 14.4807 crore in the June 2026 quarter. Current tax was Rs 12.8509 crore versus Rs 11.71 crore a year earlier, while deferred tax increased to Rs 3.3284 crore from Rs 1.1071 crore.

What do Precision Wires' half-year results and cash flow show?

Precision Wires reported first-half net profit of Rs 89.8388 crore for the period ended 30 September 2026, compared with Rs 62.6982 crore in the corresponding prior-year half. Revenue from operations rose to Rs 3,720.4995 crore from Rs 2,329.7883 crore, while profit before tax increased to Rs 121.453 crore from Rs 84.6056 crore.

Net cash from operating activities was Rs 64.2545 crore in the six months ended 30 September 2026. Operating profit before working-capital changes was Rs 181.3395 crore, but working-capital movements reduced cash by Rs 93.085 crore and direct taxes paid reduced it by a further Rs 24 crore.

Inventory used Rs 289.4316 crore of cash during the half year, while trade and other receivables used Rs 11.015 crore and other current and non-current assets used Rs 18.5214 crore. Trade and other payables added Rs 225.883 crore, partly offsetting those outflows and contributing to the difference between half-year profit and operating cash flow.

How did Precision Wires' balance sheet and funding change?

Precision Wires' inventory stood at Rs 735.418 crore on 30 September 2026, compared with Rs 445.9868 crore on 31 March 2026. Trade receivables increased by Rs 10.9966 crore to Rs 936.4016 crore, while cash and cash equivalents increased to Rs 423.8484 crore from Rs 114.3159 crore.

Property, plant and equipment rose to Rs 525.5354 crore from Rs 315.838 crore, while capital work in progress fell to Rs 58.3777 crore from Rs 182.9796 crore. The half-year cash-flow statement records Rs 123.2605 crore spent on fixed assets, including capital work in progress, and Rs 20.5093 crore of savings from the Export Promotion Capital Goods benefit.

On 25 September 2026, Precision Wires allotted 37.5 lakh 12% compulsorily convertible debentures, or CCDs, with a face value of Rs 400 each, raising Rs 150 crore. The CCDs can convert into equity shares at a 1:1 ratio at the investor's option after 12 months and before 18 months from allotment; they convert compulsorily upon completion of 18 months if the option is not exercised.

How will Precision Wires use its CCD proceeds and pay its dividend?

Precision Wires allocated Rs 90 crore of the Rs 150 crore CCD proceeds to working-capital requirements for copper procurement and related financial liabilities. The remaining Rs 60 crore was allocated to expansion, comprising Rs 50 crore for new equipment and Rs 10 crore for land acquisition; the filing said none of the proceeds had been utilised by 30 September 2026.

Precision Wires declared an interim dividend of Rs 0.35 per fully paid equity share of Rs 1 each for FY 2026-27. The record date is Friday, 13 November 2026, and the company said payment would be made on or before 6 December 2026 to entitled members.

The Audit Committee reviewed the unaudited results and the Board approved them on 6 November 2026. Statutory auditor S. R. Divatia & Co. performed a limited review and stated that nothing had come to its attention suggesting the standalone results were materially non-compliant with applicable Indian Accounting Standards and disclosure requirements.

Conclusion

Precision Wires delivered higher September-quarter sales and profit, with revenue from operations increasing to Rs 1,950.0147 crore and net profit reaching Rs 43.3854 crore. The result also showed finance cost of Rs 33.1835 crore and a first-half inventory-led working-capital movement that reduced operating cash generation from Rs 181.3395 crore before such movements to Rs 64.2545 crore after tax.

The next disclosed events are the 13 November 2026 interim-dividend record date and payment on or before 6 December 2026. Precision Wires' future filings can also show deployment of the Rs 150 crore CCD proceeds, including the Rs 90 crore allocated to working capital and Rs 60 crore allocated to expansion, which remained unutilised at 30 September 2026.