Precision Wires India Limited has convened an Extra Ordinary General Meeting (EGM) scheduled for Saturday, September 5, 2026, at 11:30 A.M. IST, to be held through Video Conferencing (VC)/Other Audio Visual Means (OAVM), in accordance with applicable circulars issued by the Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI). The notice of the EGM, dated August 10, 2026, was filed with stock exchanges on August 12, 2026, by Company Secretary and Compliance Officer Deepika Pandey. The sole agenda item is a Special Resolution seeking member approval for the issuance of Compulsory Convertible Debentures (CCDs) on a preferential basis to fund business expansion and working capital needs.

CCD Preferential Issue: Key Terms

The Board of Directors, at its meeting held on August 10, 2026, approved the issuance of 37,50,000 (Thirty-Seven Lakhs Fifty Thousand) unsecured, unrated, and unlisted 12% Compulsory Convertible Debentures at a face value of Rs. 400 per CCD, aggregating to Rs. 1,50,00,00,000 (Rupees One Hundred and Fifty Crores only). The CCDs are proposed to be allotted to two non-promoter investors on a preferential basis. Each CCD carries a simple interest rate of 12% per annum on the face value, payable in three instalments on a pro-rata basis after 180 days, 360 days, and for the balance residual period up to conversion. The CCDs will be compulsorily converted into equity shares of Rs. 1 each at a premium of Rs. 399/- anytime after 12 months and before completion of 18 months from the date of allotment; in the event the investor does not exercise the conversion option, automatic conversion will occur on the last date of the 18th month.

The following table summarises the proposed allotment details:

Proposed Allottees

The CCDs are proposed to be allotted exclusively to non-promoter investors. The allotment details are as follows:

Upon full conversion of the proposed CCDs, AADI Financial Advisors LLP will hold 17,50,000 equity shares (0.94% of post-issue fully diluted capital), and Anchorage Capital Scheme III will hold 20,00,000 equity shares (1.07% of post-issue fully diluted capital). Neither proposed allottee holds any pre-issue shareholding in the company. The existing promoters will continue to be in control of the company, and no change in management or control is anticipated as a result of this preferential allotment.

Objects of the Issue

The proceeds from the preferential issue are intended to be deployed as follows:

Note: The amounts specified for the objects may deviate +/- 10% depending upon future circumstances, as the objects are based on management estimates and other commercial and technical factors.

The working capital requirement is driven by the company's plans to expand its Winding Wires capacities at its Silvassa location from an estimated 55000 MT/PA as at March 31, 2026 to approximately 69000 MT/PA by end of Q2 FY 2027-28. The company has also recently commissioned its Copper Rod manufacturing unit at Valvada and its Copper Recycling/Refining Project at Zaroli is projected to commence trial production in Q2 FY 2026-27. The company cited a significant surge in LME Grade A Copper prices as a key driver for the additional working capital requirement, with prices rising approximately 55% between April–June 2026 and April–June 2025 on an INR basis. Expansion proceeds will fund technology upgrades, machinery replacement, infrastructure optimisation, new manufacturing lines, and land acquisition.

Floor Price and Shareholding Impact

The floor price for the preferential issue has been determined at Rs. 390.36 per CCD, computed in accordance with Regulation 164 of Chapter V of the SEBI ICDR Regulations, being the higher of the 90-trading-day volume weighted average price (Rs. 390.36 per equity share) and the 10-trading-day volume weighted average price (Rs. 383.20 per equity share) on NSE, preceding the Relevant Date of August 6, 2026. The CCDs are proposed to be issued at a face value of Rs. 400 per CCD, which is above the computed floor price. The post-issue shareholding pattern reflects that the Promoter & Promoter Group's stake will move from 56.62% (pre-issue) to 55.48% (post-issue, on a fully diluted basis) following conversion of the proposed CCDs.

E-Voting and EGM Schedule

The company is providing electronic voting facilities through NSDL for both remote e-voting and e-voting on the day of the EGM. The key dates are as follows:

CS Shailendra Dwivedi, Practicing Company Secretary and proprietor of S K Dwivedi & Associates, has been appointed as the Scrutinizer for the e-voting process. As the issue size exceeds Rs. 100 Crore, the company has appointed CARE Ratings Limited as the monitoring agency to oversee utilisation of the issue proceeds, in accordance with Regulation 162A of the SEBI (ICDR) Regulations. Pending utilisation, the proceeds will be invested in money market instruments, bank deposits, or other permitted investments.

Precision Wires India delivered a robust set of financial results for Q1, reporting a significant year-on-year improvement across key metrics. Net profit surged to 465M rupees from 271M rupees in the corresponding quarter of the previous year, while revenue nearly doubled to 17.70B rupees compared to 11B rupees recorded in the same period last year.

Q1 Financial Performance at a Glance

The company's Q1 results reflect broad-based growth across revenue, profitability, and operating earnings. The following table summarises the key financial metrics on a year-on-year basis:

Revenue and Profitability

Precision Wires India's revenue for Q1 stood at 17.70B rupees, a substantial increase from 11B rupees reported in the year-ago period. Net profit for the quarter came in at 465M rupees, up from 271M rupees year-on-year, underscoring a strong improvement in bottom-line performance.

EBITDA and Margin Trends

Operating earnings, as measured by EBITDA, rose to 758M rupees in Q1 from 471M rupees in the same quarter last year. The EBITDA margin saw a marginal improvement, edging up to 4.29% from 4.27% on a year-on-year basis, indicating stable operating efficiency even as the company scaled its revenue base significantly.