Precision Wires India Limited reported a robust financial performance for FY26, with net profit after tax (PAT) surging 72% to ₹155.27 crore from ₹90.04 crore in the previous year. Revenue from operations grew 34% to ₹541.02 crore, reflecting strong demand for its winding wires and successful capacity utilization across its manufacturing units. The company’s operating profit more than doubled to ₹25.59 crore, while other income contributed ₹53.25 lakh, up from ₹20.79 lakh in FY25.

The Board of Directors recommended a final dividend of ₹0.55 per equity share, amounting to approximately ₹89.33 lakh, subject to approval by members at the 37th Annual General Meeting (AGM) scheduled for August 10, 2026. This recommendation follows two interim dividends of ₹0.35 each paid during the year, bringing the total payout to ₹0.70 per share. Shareholders holding shares as of the record date, July 31, 2026, will be eligible for the dividend, payable on or before September 9, 2026.

Financial Performance Highlights

The company’s financial results for FY26 demonstrate significant improvement in profitability metrics alongside top-line growth. Other income saw a substantial increase, contributing to the overall profit before tax, which rose to ₹209.09 crore from ₹120.37 crore in FY25.

Financial charges increased to ₹72.72 lakh from ₹46.66 lakh, primarily due to higher borrowings supporting expansion projects. Depreciation expenses rose to ₹27.37 lakh from ₹19.63 lakh, aligning with the addition of new fixed assets. The provision for tax was ₹53.82 lakh, compared to ₹30.33 lakh in the prior year.

Capacity Expansion and Operational Updates

Precision Wires India continued its aggressive capacity expansion strategy during FY26. The company completed an additional 6,000 MT/PA capacity project at its Silvassa unit in Q3FY26, raising its total installed capacity for copper winding wires to approximately 55,000 MT/PA. Furthermore, the Copper Rod Project at Valvada, Gujarat, commenced commercial production in March 2026, marking a key step in vertical integration.

Two other major projects are underway: a 6,700 MT/PA expansion at Silvassa expected to complete by Q1FY27, and a 3,950 MT/PA project slated for completion by Q1FY28. These initiatives aim to boost total capacity to 65,500 MT/PA upon full execution. Additionally, the Copper Refining/Recycling Project at Zaroli is under implementation, with trial production expected in Q2FY27 pending regulatory approvals.

Corporate Governance and Auditor Reports

The statutory auditors, S.R. Divatia & Co., issued an unqualified report on the financial statements, confirming compliance with applicable accounting standards and internal controls. The cost auditor, M/s Gangan & Company, was appointed for FY27 with a remuneration of ₹3 lakh, subject to shareholder ratification. No frauds were reported by any auditors during the year.

The Board reappointed Deepak Mehta as Vice Chairman and Whole-Time Director for three years, effective August 1, 2025. Independent director Asha Morley was reappointed for a five-year term starting June 23, 2026. The company complied with all SEBI Listing Regulations and Companies Act requirements, including the submission of a Business Responsibility and Sustainability Report (BRSR).

Precision Wires India will convene its Board of Directors on August 10, 2026, to evaluate strategies for raising fresh capital through a Qualified Institutions Placement (QIP) or Preferential Allotment. The move signals the company’s intent to augment its financial resources, potentially supporting operational expansion or debt management, although specific utilization plans were not detailed in the intimation. This potential equity raise could impact existing shareholder dilution and market dynamics, depending on the final pricing and volume determined post-approval.

The Board meeting agenda explicitly lists the consideration of raising funds via QIP or Preferential Allotment, or any other permissible mode. This action is being undertaken in accordance with the applicable provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company noted that the transaction is subject to necessary approvals as may be required under relevant laws.

This intimation was issued on August 5, 2026, pursuant to Regulation 29(1)(d) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure serves as a mandatory pre-meeting notification to ensure transparency with investors and regulators regarding significant corporate actions under deliberation.

Milan M. Mehta, Chairman and Managing Director of Precision Wires India Limited, signed the communication. The company’s registered office is located in Mumbai, while its manufacturing works are situated in Silvassa, Union Territory of Dadra and Nagar Haveli.

The outcome of the Board meeting, including any resolutions passed regarding the quantum, pricing, and allottees of the proposed issue, will be communicated to the stock exchanges after the conclusion of the meeting. Investors are advised to monitor subsequent filings for definitive details on the capital raising exercise.