Precision Wires India Limited, a leading manufacturer of copper wires, has reported strong quarterly performance and announced significant expansion plans totaling ₹70 crore across multiple projects.

Financial Performance

The company delivered robust financial results for the quarter:

Expansion Plans

Precision Wires India has approved several key expansion initiatives:

Copper Rod Manufacturing Expansion

An investment of ₹33 crore has been allocated for expanding copper rod manufacturing capacity:

• ₹28 crore for the Zaroli facility
• ₹5 crore for the Valvada facility

New Silvassa Project

A new expansion and modernization project at Silvassa is planned for 2026, with an estimated cost of ₹37 crore. This project is expected to:

• Increase capacity by approximately 4,400 MT per annum
• Boost the overall installed capacity to approximately 65,400 MT per year by Q4 FY27

These expansion plans demonstrate the company's commitment to growth and meeting increasing market demand for its products.

Corporate Governance

The financial results and expansion plans were approved by the Board of Directors after being reviewed by the Audit Committee, showcasing the company's adherence to good corporate governance practices.

Precision Wires India's strong financial performance and strategic expansion plans position the company for continued growth in the copper wire manufacturing sector.

Precision Wires India Limited (PWIL) has successfully completed a significant capital raise through a preferential allotment to three non-promoter investors, bolstering its financial position with a total of Rs 62.65 crore.

Equity Shares Allotment

The company has allotted 13,83,000 fully paid-up equity shares, each with a face value of Rs 1, at a price of Rs 151 per share. This equity share issuance has generated Rs 20.88 crore for PWIL.

Convertible Warrants Issuance

In addition to the equity shares, PWIL has issued 27,67,000 fully convertible warrants at Rs 151 per warrant. The company has received an upfront payment of 25% of the warrant price, amounting to Rs 10.44 crore. The remaining Rs 31.32 crore will be due upon the conversion of these warrants into equity shares.

Investor Details

The preferential allotment was made to three non-promoter investors:

1. Saraswati Commercial India Limited
2. Sapientia Holdings LLP
3. Trishakti Power Holding Private Limited

Saraswati Commercial India Limited received the largest allocation among the three investors.

Regulatory Compliance and Future Steps

The allotment has been made in accordance with the provisions of Chapter V of the SEBI (ICDR) Regulations, 2018, the Companies Act, 2013, and other applicable laws. PWIL received in-principle approvals from both the BSE Limited and National Stock Exchange of India Limited (NSE).

The company will soon file for the listing and trading of the newly allotted equity shares, adhering to the requirements set by SEBI Listing Regulations and SEBI ICDR Regulations.

This capital infusion is expected to strengthen Precision Wires India Limited's financial position, potentially supporting its growth initiatives and operational needs in the coming months.