Rajratan Global Wire Ltd Share Price – NSE /  BSE

Steel, Small Cap

Net profit of Rajratan Global Wire declined 2.21% to Rs 19.05 crore in the quarter ended September 2024 as against Rs 19.48 crore during the previous quarter ended September 2023. Sales rose 14.46% to Rs 245.33 crore in the quarter ended September 2024 as against Rs 214.34 crore during the previous quarter ended September 2023.

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Rajratan Global Wire will hold a meeting of the Board of Directors of the Company on 21 October 2024.

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Revenue from operations increased 7.99% YoY to Rs 220.14 crore during the quarter.

Profit before tax (PBT) jumped 19.81% YoY to Rs 20.32 crore in Q1 FY25.

During the quarter, EBITDA stood at Rs 29.50 crore, up 17.44% as comapred with Rs 25.12 crore in Q1 FY24. EBITDA margin expanded by 108 bps to 13.40% in Q1 FY25 as against 12.32% in Q1 FY24.

In terms of geography, India sales volume increased 8.45% YoY to 15,960 MT, while Thailand sales volume jumped 40.33% YoY to 10,502 MT.

The company said that it expects 20% demand growth in Thailand from Q1 to Q2 based on existing market outlook.

Sunil Chordia, chairman & managing director, said, “After some quarters of sluggish offtake and a decline in financial performance, the company reported a marked improvement in Q1 FY25. This improvement was the result of demand exceeding supply for bead wire. This was influenced by an increased offtake of tyres (our direct sectorial customer) and a decline in imports. We expect sustained performance improvement in the subsequent quarters following the commercialization of our new Chennai plant coupled with maximized utilization of our Pithampur and Thailand manufacturing facilities. Based on existing realities, we expect improved performance visibility for the rest of the financial year.

Rajratan Global Wire is a tyre ancillary, manufacturing bead wire, a critical component used in the manufacture of tyres.

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Net profit of Rajratan Global Wire rose 22.61% to Rs 15.24 crore in the quarter ended June 2024 as against Rs 12.43 crore during the previous quarter ended June 2023. Sales rose 7.99% to Rs 220.14 crore in the quarter ended June 2024 as against Rs 203.85 crore during the previous quarter ended June 2023.

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