Bansal Wire Industries announced that the Hon'ble High Court of Delhi has quashed income tax demand notices issued against its wholly-owned subsidiary, Bansal Steel & Power Limited. The order, received on April 30, 2026, follows a civil writ petition filed by the subsidiary and was disclosed to the stock exchanges on May 01, 2026 under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Court Order Details

The court applied the "clean slate theory" to set aside all impugned demand notices pertaining to pre-Resolution Plan claims. The petition stands allowed and all demand notices have been set aside. The quashed demands were:

Background and Impact

The income tax demands were levied for periods prior to the approval of the resolution plan, as mentioned in the Draft Red Herring Prospectus, Red Herring Prospectus, and Prospectus filed during the company's Initial Public Offering. The subsidiary, formerly known as Garg Inox Limited, had challenged these demands through the writ petition.

The company stated that the order reaffirms its strong compliance framework and confirmed that there is no financial impact resulting from this development. The information has been made available on the company's website at www.bansalwire.com for stakeholder reference. Sumit Gupta, Company Secretary & Compliance Officer, signed the disclosure on May 01, 2026.

Bansal Wire Industries Limited announced that its Board of Directors approved the audited financial results (consolidated and standalone) for the quarter and financial year ended March 31, 2026, at a meeting held on April 29, 2026. The company reported strong financial performance with consolidated total income from operations reaching ₹41,731.22 million for FY26, compared to ₹35,166.14 million in the previous year. For the quarter ended March 31, 2026, consolidated total income stood at ₹11,403.61 million, up from ₹9,429.91 million in the corresponding quarter of the previous year.

Financial Performance Overview

The company demonstrated robust growth across key financial metrics. Net profit after tax for FY26 was ₹1,609.42 million, an improvement from ₹1,463.66 million in FY25. For Q4 FY26, net profit after tax was ₹400.70 million compared to ₹331.15 million in Q4 FY25. Earnings per share (basic) for FY26 stood at ₹10.28, up from ₹9.73 in the previous year. EBITDA for FY26 reached ₹3,234.79 million compared to ₹2,758.67 million in FY25.

Standalone Performance

On a standalone basis, total income from operations for FY26 was ₹40,290.47 million, compared to ₹32,164.82 million in FY25. Net profit after tax for the year stood at ₹1,297.46 million, an improvement from ₹1,251.61 million in the previous year. For Q4 FY26, standalone net profit after tax was ₹336.21 million. Earnings per share (basic) on a standalone basis for FY26 was ₹8.29, while EBITDA reached ₹2,604.23 million.

Auditor Report and Compliance

Prateek Gupta & Company, Chartered Accountants (FRN: 016512C), issued unmodified audit opinions on both consolidated and standalone financial results. The auditors confirmed that the financial results give a true and fair view in conformity with Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013. Arun Gupta, Chairman and Whole-Time Director (DIN: 00255850), signed the financial results on behalf of the Board of Directors.

Regulatory Filings and Exchange Notifications

The company submitted the required documents to BSE Limited (Scrip Code: 544209) and National Stock Exchange of India Limited (Trading Symbol: BANSALWIRE). Sumit Gupta, Company Secretary & Compliance Officer, digitally signed the communication on April 30, 2026, confirming that all information has been uploaded on the company's website at www.bansalwire.com . The consolidated results include two subsidiaries incorporated in India, with Bansal Steel and Power Limited as a wholly owned subsidiary and BWI Steel Private Limited incorporated as a wholly owned subsidiary on October 4, 2024.