Susan Wire & Cables PAT reached Rs 18.25 crore in FY2025-26

Susan Electricals India Limited, operating as Susan Wire & Cables, reported profit after tax (PAT) of Rs 18.25 crore in FY2025–26, more than 24 times FY2023–24's Rs 75.58 lakh, while earnings before interest, tax, depreciation and amortisation (EBITDA) margin rose to 11.91% from 3.51%.

How fast did Susan Wire & Cables grow revenue and profit?

Susan Wire & Cables increased revenue from operations to Rs 269.36 crore in FY2025–26 from Rs 103.48 crore in FY2023–24, a rise the presentation describes as nearly 2.6 times. Revenue reached Rs 135.74 crore in FY2024–25 before increasing by Rs 133.62 crore in FY2025–26, nearly doubling from the preceding financial year.

Susan Wire & Cables’ PAT rose faster than revenue, increasing from Rs 75.58 lakh in FY2023–24 to Rs 5.65 crore in FY2024–25 and Rs 18.25 crore in FY2025–26. The presentation describes the FY2023–24 to FY2025–26 PAT increase as more than 24-fold, compared with revenue growth of nearly 2.6 times over the same period.

EBITDA also increased from Rs 3.64 crore in FY2023–24 to Rs 12.00 crore in FY2024–25 and Rs 32.08 crore in FY2025–26. The increase from FY2023–24 to FY2025–26 was Rs 28.45 crore, while PAT increased by Rs 17.49 crore over those three reported financial years.

How did Susan Wire & Cables’ margins change by FY2025-26?

Susan Wire & Cables’ EBITDA margin increased by 8.40 percentage points to 11.91% in FY2025–26 from 3.51% in FY2023–24. The margin was 8.84% in FY2024–25, up 5.33 percentage points from FY2023–24, followed by a further 3.07-percentage-point increase in FY2025–26.

PAT margin rose from 0.73% in FY2023–24 to 4.16% in FY2024–25 and 6.77% in FY2025–26. That was a 6.04-percentage-point increase over the three-year period, alongside revenue growth from Rs 103.48 crore to Rs 269.36 crore and PAT growth from Rs 75.58 lakh to Rs 18.25 crore.

The FY2025–26 figures cover April 1, 2025 to March 31, 2026, according to the presentation. Susan Wire & Cables says the reported financial figures and ratios are rounded to two decimal places, and both operating and after-tax margins improved in each of the two annual comparisons.

How did Susan Wire & Cables’ returns on equity and capital employed move?

Susan Wire & Cables reported return on equity (RoE) of 64.64% in FY2025–26, compared with 15.92% in FY2023–24. RoE was 46.72% in FY2024–25, representing a 30.80-percentage-point rise in the first year and a further 17.92-percentage-point increase in FY2025–26.

Return on capital employed (RoCE) increased to 29.05% in FY2025–26 from 9.47% in FY2023–24. The intermediate FY2024–25 RoCE was 17.46%, so the measure rose in both years as EBITDA increased from Rs 12.00 crore in FY2024–25 to Rs 32.08 crore in FY2025–26.

The return measures rose alongside margins, but at different rates. From FY2023–24 to FY2025–26, EBITDA margin moved from 3.51% to 11.91%, RoE from 15.92% to 64.64%, and RoCE from 9.47% to 29.05%; the presentation does not provide a separate numerical bridge explaining the changes in the return measures.

What business plans does Susan Wire & Cables link to future growth?

Susan Wire & Cables says it plans to expand cable manufacturing capacity by 45% and winding-wire capacity by 30%. Management presents these additions as plans intended to strengthen production capability and support future revenue growth, rather than as FY2025–26 reported results.

Susan Wire & Cables’ roadmap includes expanding manufacturing and geographical sales of high-tension (HT) and medium-voltage covered conductor (MVCC) products, strengthening HT cable capacity and ramping up its aluminium-conductor business. It also identifies wider manufacturing and sales of low-tension cable and house wiring, as well as exploration of railway and defence electrification opportunities.

Susan Wire & Cables listed operations in nine states: Uttar Pradesh, Telangana, Rajasthan, Madhya Pradesh, Jharkhand, Bihar, Haryana, Punjab and Gujarat. It identified Kerala, Tamil Nadu, Uttarakhand, Karnataka, Maharashtra, Andhra Pradesh and Chhattisgarh among locations for expansion, connecting production plans with wider geographical sales.

Which demand factors and products does Susan Wire & Cables identify?

Susan Wire & Cables identifies transmission and distribution infrastructure expansion, railway modernisation, reconductoring and domestic-market premiumisation as demand drivers. Its stated product focus includes insulated cables, HT cables and MVCC solutions for power-distribution safety, reliability and efficiency requirements.

The presentation says HT cables and MVCC conductors require complex manufacturing capabilities and certifications. It also identifies replacement demand for transformers and cables, grid modernisation, and replacement of bare conductors with aerial bunched cross-linked polyethylene cables and underground HT cables as mechanisms that can support demand across wires, cables and conductor products.

For market context, the presentation cites a projection for India’s wires and cables market to increase from USD 10.32 billion in 2025E to USD 22.35 billion in 2035P, a compound annual growth rate of 8.02%. It separately gives an estimate for the electrical equipment market to grow from USD 73.80 billion in 2025E to USD 222.74 billion in 2035P, at a compound annual growth rate of 11.68%.

Conclusion

Susan Wire & Cables’ FY2023–24 to FY2025–26 record combines revenue growth from Rs 103.48 crore to Rs 269.36 crore with EBITDA growth from Rs 3.64 crore to Rs 32.08 crore and PAT growth from Rs 75.58 lakh to Rs 18.25 crore. EBITDA margin rose from 3.51% to 11.91%, PAT margin from 0.73% to 6.77%, while RoE and RoCE reached 64.64% and 29.05%, respectively.

The next disclosed items to watch are execution of the planned 45% cable-capacity expansion and 30% winding-wire-capacity increase, together with the stated expansion of HT, MVCC, low-tension cable and house-wiring manufacturing and sales. The presentation does not disclose a completion date, capital cost or future revenue target for these plans, leaving their pace and financial effect unresolved.