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Bharat Wire Ropes Ltd (BHARATWIRE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539799 NSE: BHARATWIRE Steel & Iron Products | Small Cap | Bharat Wire Ropes Share Price

₹215.35 13.70 (6.79%)

As on 01-Jul'26 16:59

Bharat Wire Ropes Ltd (BHARATWIRE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539799 NSE: BHARATWIRE Steel & Iron Products | Small Cap | Bharat Wire Ropes Share Price

₹215.35 13.70 (6.79%)

As on 01-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,477 Cr.
Current Price
₹215.4
52-Week Low / High
₹149 / 262
TTM EPS
₹10.6
TTM Sales
₹591 Cr.
Book Value per Share
₹118.2
P/E Ratio
20.38
In line with its 5-year historical median
Industry PE
24.1
Price to Book (P/B)
1.82
Higher than its 5-year historical median
Price to Sales (P/S)
2.50
Higher than its 5-year historical median
EV/EBITDA
11.64
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
10.42%
Outperforms industry median
Return on Capital Employed (ROCE)
13.39%
Outperforms industry median
Return on Assets (ROA)
8.09%
Operating Profit Margin
21.4%
Net Profit Margin
11.7%
Gross Profit Margin
19.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-0.41%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-19.29%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-24.81%
Asset Quality
Promoter Holding
41.27%
Pledged shares (%) of Promoter's holding (%)
51.00%
Reserves
₹742 Cr.
Equity
₹68.6 Cr.
Face Value
₹10
All Time Low / High
₹10.50 / 401.90

Bharat Wire Ropes stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Bharat Wire Ropes Ltd a good quality company?
Bharat Wire Ropes Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Bharat Wire Ropes Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Bharat Wire Ropes Ltd vs industry peers?
Bharat Wire Ropes Ltd revenue CAGR is 19.17%, compared to the industry median CAGR of 7.56%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Bharat Wire Ropes Ltd?
Promoters hold 41.27% of the Bharat Wire Ropes Ltd, with 51.00% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Bharat Wire Ropes Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 18.5% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Bharat Wire Ropes Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 2.6%1.3%4.3%-0.2%1.1%1.6%5.8%16.3%18.7%13.4%-
Value Creation
Index
-0.8-0.9-0.7-1.0-0.9-0.9-0.60.20.30.0-

Growth Parameters

Sales 60.764.8165241258250411589622619591
Sales YoY Gr.-6.8%154.4%45.9%7.1%-2.9%64.2%43.4%5.6%-0.4%-
Adj EPS 0.30.10.1-10-13.6-2.72.19.214.210.610.6
YoY Gr.--68.8%30%-7769.2%NANANA328.5%54.4%-25.3%-
BVPS (₹) 30.831.331.321.47.96970.682.596.6107118.2
Adj Net
Profit
1.40.50.6-44.8-61.1-16.813.762.396.372.472
Cash Flow from Ops. 36.11731.982.8151-24423.783.285.274.1-
Debt/CF from Ops. 5.421.816.57.44.5-1.111.42.21.61.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 29.4%19.2%14.7%-0.4%
Adj EPS 47.5%NA70.4%-25.3%
BVPS14.9%68.5%14.9%10.8%
Share Price 17.1% 22.8% 7.1% 0.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1.40.30.4-36.9-88.1-7.13.112.315.810.49.4
Op. Profit
Mgn %
13.69.410.77.811.213.115.123.626.421.422.1
Net Profit
Mgn %
2.30.70.4-18.6-23.7-6.73.310.615.511.712.3
Debt to
Equity
1.42.63.76.319.10.60.60.30.20.20
Working Cap
Days
534604280242240247180155178222128
Cash Conv.
Cycle
207204135144144136817493106107

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales6165165241258250411589622619
Operating Expenses + 5359148222229218349450458487
Manufacturing Costs411124232240514549
Material Costs3648110152163158260329327344
Employee Cost 871531312435446066
Other Costs 431114121314262628
Operating Profit 861719293262139164132
Operating Profit Margin (%) 13.4%9.4%10.4%7.8%11.2%13.0%15.1%23.6%26.4%21.4%
Other Income + 03211111111
Exceptional Items 0000000000
Interest 432573903423221513
Depreciation 241221222221212122
Profit Before Tax 230-74-82-23189712998
Tax 100-30-21-64343325
Profit After Tax 120-45-61-1714629672
PAT Margin (%) 2.2%3.8%0.2%-18.5%-23.7%-6.7%3.3%10.6%15.5%11.7%
Adjusted EPS (₹)0.30.50.1-9.9-13.6-2.72.19.214.210.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Bharat Wire Ropes - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 1381411419635431451560657733
Share Capital 45454545456364686868
Reserves 93969651-10369387492589664
Debt +195370485468406269262171119117
Long Term Debt17334943435827921420714310577
Short Term Debt2221511101275555281440
Minority Interest0000000000
Trade Payables920373211113118617
Others Liabilities 746973145254-18-18185390
Total Liabilities 417599736742706694726767835956

Fixed Assets

Net Fixed Assets +65340566560539513492481475484
Gross Block86344581595595590590600615644
Accumulated Depreciation2141535567799119140160
CWIP 1591422111031347
Investments 0000000220
Inventories3444738978658011099123
Trade Receivables17172336293640487987
Cash Equivalents 722264353989
Others Assets 695446515674110113159206
Total Assets 417599736742706694726767835956

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 36173283151-24424838574
PBT 230-74-82-23189712998
Adjustment 6440951125645443737
Changes in Working Capital 2910-962121-278-39-57-81-61
Tax Paid -100000-0-000
Cash Flow From Investing Activity + -193-259-98-14-0-1-0-13-25-62
Capex -2-276-238-14-0-1-0-10-16-30
Net Investments 0000000002
Others -19118140-0-0-0-0-3-9-34
Cash Flow From Financing Activity + 22717290-90-152247-25-64-61-11
Net Proceeds from Shares 70000041334414
Net Proceeds from Borrowing 16517685-76-795-8-64-38-27
Interest Paid -4-3-25-73-89-98-23-21-12-14
Dividend Paid 0000000000
Others -4-1305917-723-23-1226
Net Cash Flow 70-6923-21-12-26-01

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)1.281.750.18-37.57-92.55-7.193.112.3115.8310.42
ROCE (%)2.611.294.32-0.151.081.615.7816.2518.7213.39
Asset Turnover Ratio0.230.140.250.330.360.360.580.790.780.69
PAT to CFO Conversion(x)368.5N/AN/AN/AN/A1.711.340.891.03
Working Capital Days
Receivable Days85.6086.8043.7045.1046.4047.9033.9027.1037.2048.90
Inventory Days201.10200.60127.30123.10117.90103.9064.505961.2065.40
Payable Days114.40109.6055.9039.3029.9022.202417.207.6011.90

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *44.6249.8149.3149.3148.9350.8751.0051.0051.0051.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

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Announcements

Bharat Wire Ropes Ltd FAQs

The current trading price of Bharat Wire Ropes on 01-Jul-2026 16:59 is ₹215.3.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 30-Jun-2026 the market cap of Bharat Wire Ropes stood at ₹1,477 Cr

The latest P/E ratio of Bharat Wire Ropes as of 30-Jun-2026 is 20.38.

The latest P/B ratio of Bharat Wire Ropes as of 30-Jun-2026 is 1.82.

The 52-week high of Bharat Wire Ropes is ₹262.2 and the 52-week low is ₹149.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Bharat Wire Ropes is ₹591 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Bharat Wire Ropes Ltd is a average quality company.

The key valuation ratios of Bharat Wire Ropes Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Bharat Wire Ropes Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Bharat Wire Ropes Ltd

The company was incorporated as Bharat Ropes Private Limited on July 24, 1986, at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956. The company was converted into a public limited company pursuant to approval of the shareholders in an extraordinary general meeting held on May 2, 1992 and consequently, the name of the company was changed to Bharat Ropes Limited and a fresh certificate of incorporation consequent upon conversion to public limited company was granted on June 10, 1992. Thereafter, the name of the company was changed from Bharat Ropes Limited to Bharat Wire Ropes Limited and a fresh certificate of incorporation consequent upon change of name was granted by the Registrar of Companies, Mumbai, on July 5, 1996.

The company was originally promoted by the Shah Group and in the year 2010, one of its current promoters - Gaji Mercantile Private Limited purchased 1,06,75,490 Equity Shares under SPA dated June 30, 2010. The company’s existing steel wire ropes manufacturing facility with an installed capacity of 12,000 MTPA is located at Atgaon. The company also has a Pyrolysis plant with an installed capacity of 1,260 MTPA at Chalisgaon, Maharashtra for production of oil, which is used as fuel in its current manufacturing process.

The company is proposing to further enhance its capacity to manufacture wire ropes, structural strands and slings by setting up a fully integrated manufacturing facility with an installed capacity of 66,000 MTPA at Chalisgaon, Maharashtra. The company is an ISO 9001:2008 certified company by the British Standards Institution (BSI) for the manufacture and supply of steel wire ropes, stainless steel wire ropes, non-ferrous wire ropes, slings, relevant conductors, wire for specialized applications and rope fittings in domestic and international market. Its existing setup in Atgaon is accredited with Bureau of Indian Standards (BIS), ISO 9001:2008 and have obtained BIS Licenses for IS:2266, IS:4521, IS:1856, IS:1855,IS:2581, IS:9282, IS:12776. The company also holds product approvals from RDSO, CORE, DGMS, PGCIL, IRS etc. for various ropes and wire products.

Business area of the company

The company is a wire rope and wires manufacturing company. It is engaged in manufacturing and sales of wire ropes, structural strands, slings and wires which find its application in general engineering, fishing, elevators, cranes, material handling, power transmission, suspension bridges, onshore / offshore oil exploration, ports and shipping, mining, defence, railways etc. It is also engaged in the business of trading of the steel related products.

Major events

  • 1986: Incorporation of the company and commencement of Business Activities.
  • 1992: Conversion from a private limited company to a public limited company and consequently the name of the company was changed to Bharat Ropes Limited.
  • 1996: Change of name of the company from Bharat Ropes Limited to Bharat Wire Ropes Limited.
  • 2006: Shifting of the manufacturing facility from Bhandup, Mumbai to Atgaon, Thane.
  • 2010: Change in the Management of the company from the Shah Group to the Mittal family.
  • 2012: Raising of Equity of Rs 3000 lakh from Gaji Mercantile Private Limited and Rs. 1000 lakh from Passionate Investment Management Private Limited.
  • 2015: Sanction of Term Loan facility of Rs 33000 lakh.
  • 2015: Grant of Plot No - 4 admeasuring 2,54,376 square meters located at M.I.D.C. Chalisgaon Industrial Area, Village - Khadki, BK Chalisgaon, District Jalgaon - 424101, Maharashtra by way of Predetermined Lease Agreement dated March 31, 2015.
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