Bhagyanagar India Limited reported a revenue of ₹23,778 Mn for the financial year 2026, with a Profit After Tax (PAT) of ₹964 Mn. The company achieved an EBITDA margin of 4.5% and a PAT margin of 2.1%, supported by an operational capacity of 35,000+ MTPA. The financial performance reflects a strategic shift towards value-added products, which now constitute 62% of the company's portfolio, enhancing overall margins.

The company’s operational metrics showed significant improvement during the year. Sales volume reached 24,655 MT, while realisation per Kg stood at ₹964. The EBITDA per Kg more than tripled over FY24-FY26, indicating successful operating leverage and a favourable product mix. This growth is underpinned by a diversified product range including copper bus bars, strips, and wires, catering to high-growth sectors such as renewable energy and power infrastructure.

Financial Performance

Bhagyanagar India Limited demonstrated strong financial discipline with a Return on Equity (ROE) of 22% and a Return on Capital Employed (ROCE) of 20%. Working capital management remained efficient, with inventory days at 41, receivable days at 64, and payable days at 62. The average ROE and ROCE for the period were reported at 7% and 5% respectively, indicating robust capital efficiency.

Strategic Initiatives

The company is executing a strategy focused on product mix transformation, geographic expansion, and sustainability. By increasing the share of value-added offerings, Bhagyanagar India Limited aims to strengthen competitiveness and drive margin expansion. The company is targeting entry into EV infrastructure, solar PV systems, and high-efficiency motors, while also expanding its footprint in East Asia, the Middle East, and North America.

Operational Capabilities

Bhagyanagar India Limited operates two ISO-certified manufacturing units with a 60-acre integrated facility in Hyderabad. The company sources materials from 50+ suppliers across 30+ countries, ensuring a robust supply chain. Quality standards are maintained through a four-tier approach aligned with ISO 9001:2015, covering inspection, control, assurance, and Total Quality Management (TQM).

Bhagyanagar India Limited has received a show cause notice from the Directorate General of Goods and Service Tax Intelligence (DGGI), Hyderabad Zonal Unit, alleging irregular availment of Input Tax Credit (ITC). The notice, dated May 26, 2026, proposes a tax liability of ₹17.50 Crores along with interest under the Central Goods and Services Tax Act, 2017. The company has remitted the amount of ₹17.50 Crores towards the tax liability under protest.

The notice has been issued to the company as well as its Managing Director, Shri Devendra Surana. The DGGI contends that there was an irregular availment of ITC by the company. The intimation was made to the exchanges pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of the Show Cause Notice

The communication from the tax authority outlines the nature of the action and the alleged contravention. The company has disclosed that it will be filing a reply to the Show Cause Notice before the appropriate authority within the prescribed timelines.

Company Response and Impact

Bhagyanagar India Limited has stated that the facts and legal precedents are in its favour regarding the matter. The company confirmed that there is no impact on its financial, operational, or other activities due to this Show Cause Notice. The payment of ₹17.50 Crores was made specifically under protest to ensure compliance while the legal proceedings are underway.