Bharat Wire Ropes Ltd. (BHARATWIRE) AI Stock Analysis

• Market Cap: ₹12.02B
• Dividend Yield: N/A
• Average Volume (3M): 98.00K
• Price to Earnings (P/E): 15.7
• Beta (1Y): 1.74
• Revenue Growth: 8.45%
• EPS Growth: -14.27%
• Country: IN
• Employees: 605
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): 2.66
• Shares Outstanding: 68,584,650
• 10 Day Avg. Volume: 10,823
• 30 Day Avg. Volume: 97,995
• PEG Ratio: -0.71
• Price to Book (P/B): 1.75
• Price to Sales (P/S): 2.08
• P/FCF Ratio: 136.24
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: ₹193.00 ▲(2.66% Upside)
• Action: Reiterated Date: 11/11/25
• Date: Action: Reiterated 11/11/25

Bharat Wire Ropes Ltd. scores well due to its strong financial performance, characterized by consistent revenue growth and robust cash flow generation. Technical indicators suggest a stable upward trend, while valuation metrics indicate moderate pricing. The absence of dividend yield and earnings call data slightly limit the overall attractiveness.

Positive Factors

Consistent Revenue Growth

Sustained revenue growth and rising gross/EBITDA margins reflect durable product demand and improved production efficiency. Over multiple years this supports reinvestment, repeat replacement sales, and stronger operating cash flow, underpinning long-term earnings resilience.

Strong Free Cash Flow

Robust free cash flow and a healthy operating-cash-to-net-income conversion provide recurring internal funding for capex, working capital and debt servicing. This reduces reliance on external financing and improves financial flexibility to weather cyclical demand over the medium term.

Balanced Leverage & Improving ROE

A stable balance sheet with a favorable equity ratio and improving return on equity indicates disciplined capital allocation and growing equity cushion. Balanced leverage supports capacity investment while keeping financial risk moderated across business cycles.

Negative Factors

Elevated Debt Levels

Notable outstanding debt raises interest and refinancing risk if industrial demand softens. In a cyclical sector, elevated leverage can compress free cash flow available for growth or distributions and requires ongoing vigilance to ensure coverage metrics remain comfortable.

Net Margin Volatility

Fluctuating net margins imply sensitivity to input-cost swings and operating leverage. For a manufacturer, variability in steel wire-rod costs and imperfect pass-through to customers can make earnings and cash flow less predictable across quarters and cycles.

Cyclicality of End-Markets

Dependence on oil & gas, mining, construction and other cyclical sectors makes demand timing volatile. While replacement demand exists, project-driven order patterns can produce lumpy revenues and capex needs, constraining steady long-term growth visibility.

Bharat Wire Ropes Ltd. Business Overview & Revenue Model

Company Description

Bharat Wire Ropes Limited manufactures and sells steel wire ropes in India. It offers wire ropes for use in general engineering, fishing, elevators, cranes, material handling, power transmission, suspension bridges, onshore/offshore oil exploration, ports and shipping, mining, defense, construction, and railways and allied industrial applications; mechanically spliced slings, hand spliced slings, and socketed slings; galvanized steel wire strands, such as earth wires, stay wires, and structural strands; and galvanized and non-galvanized steel wires. The company serves international consumers, private clients, and defense segment clients, as well as government and semi-government organizations. It also exports its products to South Africa, Kuwait, New Zealand, Vietnam, the United States, Singapore, Australia, Nepal, and internationally. The company was formerly known as Bharat Ropes Limited and changed its name to Bharat Wire Ropes Limited in July 1996. Bharat Wire Ropes Limited was incorporated in 1986 and is based in Mumbai, India.

How the Company Makes Money

Bharat Wire Ropes Ltd. primarily generates revenue through the manufacturing and sale of wire ropes and related products. The company's main revenue streams include direct sales to construction firms, mining companies, and electrical utilities, which require high-quality wire ropes for various applications. Additionally, BHARATWIRE benefits from long-term contracts and partnerships with major players in industries like infrastructure development and shipping, ensuring a steady demand for its products. The company also explores export opportunities, expanding its market reach and enhancing its earnings potential. Factors such as the growing demand for wire ropes in emerging economies, strategic collaborations, and investments in technology for product innovation significantly contribute to its revenue generation.

Bharat Wire Ropes Ltd. Financial Statement Overview

Summary

Bharat Wire Ropes Ltd. demonstrates a strong financial position with consistent revenue growth, improved profitability margins, and robust cash flow generation. The company manages its debt levels well, though maintaining vigilance on leverage is essential for long-term stability.

Income Statement

Bharat Wire Ropes Ltd. shows a strong income statement with consistent revenue growth over the past five years, moving from 2020 to 2025. The revenue growth rate from 2024 to 2025 is steady, though not exceptionally high. The company has improved its gross profit margin significantly, indicating efficient cost management and production processes. However, the net profit margin has seen fluctuations, reflecting some volatility in profitability. EBIT and EBITDA margins have improved over time, signaling robust operational performance.

Balance Sheet

The balance sheet of Bharat Wire Ropes Ltd. appears stable with a healthy debt-to-equity ratio indicating balanced leverage. The company has consistently enhanced its equity base, resulting in a favorable equity ratio. Return on equity has been improving yearly, showcasing efficient use of equity capital. However, the company still holds a considerable amount of debt, which poses potential risks if not managed properly in the long term.

Cash Flow

The cash flow statement reveals strong free cash flow generation, with substantial growth in free cash flow from 2024 to 2025. The operating cash flow to net income ratio indicates effective conversion of earnings into cash, essential for sustaining operations and funding growth. Despite some fluctuations in operating cash flow, the company maintains a positive trend, demonstrating sound financial management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	6.28B	6.19B	6.22B	5.89B	4.11B	2.49B
Gross Profit	2.53B	2.75B	2.92B	2.60B	550.51M	894.60M
EBITDA	1.30B	1.32B	1.64B	1.38B	627.79M	331.55M
Net Income	699.94M	724.40M	962.00M	622.34M	136.65M	-167.87M
Balance Sheet
Total Assets	0.00	9.56B	8.17B	7.81B	7.74B	7.47B
Cash, Cash Equivalents and Short-Term Investments	93.54M	3.36M	4.38M	94.54M	33.58M	12.48M
Total Debt	0.00	1.31B	1.32B	1.82B	2.69B	2.74B
Total Liabilities	-7.37B	2.19B	1.56B	2.21B	3.22B	3.11B
Stockholders Equity	7.37B	7.37B	6.61B	5.60B	4.52B	4.35B
Cash Flow
Free Cash Flow	0.00	94.67M	602.17M	697.62M	230.12M	-2.46B
Operating Cash Flow	0.00	740.54M	852.25M	832.31M	236.55M	-2.44B
Investing Cash Flow	0.00	-619.26M	-249.99M	-134.69M	-4.12M	-13.45M
Financing Cash Flow	0.00	-110.92M	-606.37M	-642.38M	-253.88M	2.47B

Bharat Wire Ropes Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 188.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BHARATWIRE, the sentiment is Neutral. The current price of 188 is above the 20-day moving average (MA) of 175.89, above the 50-day MA of 176.59, and above the 200-day MA of 185.86, indicating a neutral trend. The MACD of 1.08 indicates Negative momentum. The RSI at 51.21 is Neutral, neither overbought nor oversold. The STOCH value of 24.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:BHARATWIRE.

Bharat Wire Ropes Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BHARATWIRE	76 Outperform	₹12.02B	15.68	―	―	8.45%	-14.27%
RAJRATAN	66 Neutral	₹20.75B	29.66	―	0.42%	7.76%	-21.05%
HARIOMPIPE	66 Neutral	₹11.11B	17.68	―	0.17%	17.98%	-0.62%
HITECH	66 Neutral	₹16.96B	22.25	―	0.03%	9.05%	-4.65%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
RAMASTEEL	56 Neutral	₹11.01B	66.97	―	―	14.51%	-30.02%
MSPL	51 Neutral	₹17.75B	-20.24	―	―	-3.14%	-466.99%

Bharat Wire Ropes Ltd. Corporate Events

Bharat Wire Ropes Posts Strong Q3 FY2025-26 Earnings, Adjusts for New Labour Codes

Bharat Wire Ropes Ltd. has published the extract of its unaudited financial results for the quarter and nine months ended 31 December 2025, showing quarterly revenue from operations of about Rs 14,299 lakh and net profit after tax of roughly Rs 1,825 lakh, with earnings per share of Rs 2.66 (basic and diluted). For the nine months, the company reported revenue of about Rs 44,958 lakh and net profit after tax of around Rs 5,599 lakh, indicating continued profitability compared with the previous year, while also recognizing an estimated Rs 188.35 lakh additional employee benefit expense linked to India’s newly notified labour codes, which it is monitoring for further financial and operational impact.