Precision Wires India Limited shareholders approved a final dividend payout of 125% per equity share at the company’s 37th Annual General Meeting (AGM) held on August 10, 2026. The meeting also witnessed the passage of special resolutions to amend the Memorandum of Association (MoA) and Articles of Association (AoA), signaling strategic flexibility for future business expansion. This dividend payout significantly exceeds the company’s average dividend distribution of approximately 85.85% over the last decade, reflecting strong cash generation despite a challenging macroeconomic environment.

The AGM was conducted via Video Conferencing (VC) and Other Audio Visual Means (OAVM) in compliance with Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) regulations. Remote e-voting was available from August 7 to August 9, 2026, with additional voting facilities provided during the meeting and for 15 minutes post-conclusion. Ragini Chokshi & Co., Practicing Company Secretaries, served as the scrutinizer for the voting process, while S R Divatia & Co. acted as the statutory auditor. The quorum was established with participation from 89 members.

Voting Results

Shareholders voted on six resolutions during the AGM. All ordinary and special resolutions were passed with overwhelming support. The detailed voting outcomes are summarized below:

Operational Performance and Outlook

Milan Mehta, Chairman and Managing Director, highlighted that production, sales, and revenue from operations increased compared to the preceding year. The company maintained uninterrupted copper supply through indigenous producers and imports, despite tight global markets. International copper prices rose by approximately 15% in USD terms during FY26, while the Indian Rupee weakened by around 4.5%. To mitigate risk, Precision Wires India adhered to a back-to-back transaction strategy, purchasing copper against confirmed sales orders.

Management noted inflationary pressures driven by higher finance costs, wages, export freight, and maintenance expenses. Geopolitical tensions, including US trade tariffs and the ongoing Ukraine war, created uncertainty. However, the company successfully grew its exports, contributing to a balanced revenue mix. Looking ahead to FY27, management warned of potential cost increases in enamels and chemicals due to oil price spikes linked to the Iran conflict, alongside expected domestic interest rate hardening and currency devaluation.

Expansion Projects

Precision Wires India is actively expanding its capacity. The installed capacity for copper winding wire stood at approximately 55,000 MT per year at the end of FY26. A 6,700 MT per year expansion project at Silvassa is scheduled for completion in Q2 FY27, raising total capacity to about 61,700 MT per year. Further modernization projects are in the pipeline, targeting an installed capacity of 69,000 MT per year by FY28. Additionally, the Copper Refining/Recycling project at Zaroli, Gujarat, is expected to commence trial production in Q2 FY27, subject to regulatory approvals.

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).