Bharat Wire Ropes Limited announced its audited financial results for the quarter and year ended March 31, 2026, following a board meeting held on May 16, 2026. The company reported a net profit of ₹7,245.56 lakh for the full fiscal year, a marginal increase from ₹7,239.11 lakh recorded in the previous year. Revenue from operations for FY26 stood at ₹59,054.28 lakh, down from ₹61,931.62 lakh in the corresponding period last year. The audited results received an unmodified opinion from statutory auditors M/s. Borkar & Muzumdar, Chartered Accountants.

Full-Year Financial Performance

The company's total income for the year ended March 31, 2026, was ₹59,156.26 lakh, compared to ₹62,011.52 lakh in the previous year. Total expenses for the period amounted to ₹49,461.12 lakh, down from ₹52,229.19 lakh. Profit before tax stood at ₹9,695.14 lakh against ₹9,782.33 lakh in the prior year. Total income tax expenses for FY26 were ₹2,449.58 lakh, comprising current tax of ₹581.29 lakh and deferred tax of ₹1,868.29 lakh. Other comprehensive income for the year, net of tax, was ₹52.64 lakh, resulting in total comprehensive income of ₹7,192.92 lakh.

The following table summarizes the key financial metrics for the year ended March 31, 2026:

Quarterly Results

For the quarter ended March 31, 2026, the company reported a net profit of 165M rupees, a decline from 206M rupees in the same quarter of the previous year. Revenue from operations for the quarter was 1.4B rupees, compared to 1.7B rupees in Q4 FY25. Total expenses for the quarter were ₹12,004.78 lakh, against ₹14,411.92 lakh in the year-ago period. Profit before tax for the quarter stood at ₹2,194.03 lakh versus ₹2,790.54 lakh in the corresponding quarter. On an operational profitability basis, Q4 EBITDA came in at 296M rupees compared to 371M rupees in the same quarter last year, with EBITDA margin at 21% versus 21.59% in the year-ago period.

Balance Sheet Highlights

As at March 31, 2026, Bharat Wire Ropes reported total assets of ₹98,992.39 lakh, up from ₹96,072.27 lakh in the previous year. Total equity stood at ₹81,083.06 lakh, comprising equity share capital of ₹6,858.46 lakh and other equity of ₹74,224.60 lakh. Non-current borrowings declined to ₹3,884.61 lakh from ₹7,736.11 lakh, while current borrowings also fell to ₹3,544.95 lakh from ₹5,366.91 lakh, reflecting a significant reduction in overall debt levels.

Cash Flow Summary

Net cash generated from operating activities for the year ended March 31, 2026, was ₹9,768.58 lakh, compared to ₹7,303.77 lakh in the previous year. Net cash used in investing activities was ₹3,130.38 lakh, primarily on account of payments for property, plant and equipment of ₹7,413.78 lakh. Net cash used in financing activities was ₹6,640.43 lakh, reflecting repayment of long-term borrowings of ₹3,851.50 lakh and short-term borrowings of ₹1,821.96 lakh. Cash and cash equivalents at the end of the year stood at ₹5.35 lakh, compared to ₹7.58 lakh at the beginning of the year.

Large Corporate Disclosure and Credit Rating

As part of its initial disclosure for financial year 2026-27, Bharat Wire Ropes confirmed that outstanding qualified borrowings declined from ₹79.65 crores at the start of the financial year to ₹35.19 crores at the end. The company confirmed that no incremental qualified borrowings or debt securities were issued during the year. CARE Ratings Limited assigned a credit rating of CARE BBB+ for long-term bank facilities and CARE A3+ for short-term bank facilities. The company confirmed it does not qualify as a Large Corporate under the applicable SEBI circular.

Board Decisions and Appointments

During the meeting, the board recommended a final dividend on 38,266 unlisted 0.01% Compulsory Convertible Preference Shares (CCPS) with a face value of ₹10 each for FY26, subject to shareholder approval. Based on audit committee recommendations, M/s. PKF Sridhar & Santhanam LLP was appointed as Internal Auditor and M/s. Dilip M. Bathija as Cost Auditor for FY27. The board also appointed M/s. Borkar & Muzumdar as Statutory Auditors for a five-year term from 2026-27 to 2030-31, pending shareholder approval. The financial results were prepared in accordance with Companies (Indian Accounting Standard) Rules, 2015 (Ind AS) notified under Section 133 of the Companies Act, 2013.

Bharat Wire Ropes Limited has announced the appointment of three auditing firms following a Board of Directors meeting held on May 16, 2026. The approvals, made upon the recommendation of the Audit Committee, were disclosed to the stock exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointments cover the roles of Internal Auditor, Cost Auditor, and Statutory Auditor for the company.

Key Auditor Appointments

The Board approved three distinct auditor appointments at its May 16, 2026 meeting. The following table summarises the details of each appointment:

All three firms have been confirmed to have no relationship with any directors of the company.

Internal Auditor: PKF Sridhar & Santhanam LLP

M/s. PKF Sridhar & Santhanam LLP (PKF S&S LLP), a firm of Chartered Accountants established in 1978 and headquartered in Chennai, has been appointed as Internal Auditor for financial year 2026-27. The firm operates branch offices across major Indian cities including Bangalore, Mumbai, Delhi, and Hyderabad, and maintains a presence in the global market. PKF S&S LLP offers services across a broad range of industrial sectors, including:

• Automotive
• Banking & Capital Markets
• Chemicals
• Energy, Utilities & Mining
• Engineering & Construction
• Financial Services
• Healthcare
• Industrial Manufacturing
• Pharmaceuticals
• Retail & Consumer
• Technology
• Transportation & Logistics

The firm operates on the foundation of quality and integrity in compliance with ICAI standards.

Cost Auditor: Dilip M. Bathija

M/s. Dilip M. Bathija, a proprietary firm of Cost Accountants registered under Firm Registration No. 100106 and based in Ulhasnagar, Maharashtra, has been appointed as Cost Auditor for financial year 2026-27. The firm has been in practice since 1992 and brings experience across audit, costing, and taxation. Core areas of practice include:

• Designing Cost and Management Information Systems
• Maintenance of Cost Records as per Cost Records & Audit Rules, 2014
• Cost Audit as per Cost Records & Audit Rules, 2014
• Certification of Cost data as required under applicable rules

The firm has undertaken cost audit and cost-related assignments for companies operating in sectors such as Textiles, Steel, Chemicals, Fertilisers, and Petroleum.

Statutory Auditor: Borkar & Muzumdar

M/s. Borkar & Muzumdar (B&M), a firm of Chartered Accountants with over 75 years of experience, has been appointed as Statutory Auditor for a term of five consecutive years commencing from financial year 2026-27 to 2030-31. The firm offers a comprehensive suite of services including Assurance, Taxation Consultancy, Financial Advisory Services, Risk-based Internal Audits, Internal Financial Control Reviews, Investigation Assignments, Due Diligence Reporting, Tax Structuring, and Data Verification assignments. B&M's practice comprises 19 partners supported by a team of over 230 staff, including qualified Chartered Accountants, experienced associates, trainees, and support personnel. The firm has served as Statutory Central Auditors for several public and private sector banks, NBFCs, insurance companies, and other public and private sector undertakings across India.