Bansal Wire Industries Limited, one of the leading steel wire manufacturing companies by volume in Asia, has announced exceptional sales volume performance for Q3FY26, setting new company records across multiple metrics while expanding its specialty product portfolio with strategic launches targeting the automotive sector.

Record-Breaking Q3FY26 Performance

The company achieved its highest ever quarterly sales volume of 121,702 MT in Q3FY26, surpassing its previous record of 114,609 MT registered in Q2FY26. This represents significant growth momentum with a 31.70% year-on-year increase compared to Q3FY25 and a 6.18% quarter-on-quarter growth.

Nine-Month FY26 Results

For the nine-month period ended FY26, Bansal Wire Industries recorded sales volume of 340,411 MT, demonstrating robust performance with a 37.88% increase compared to 246,888 MT in the corresponding nine-month period of FY25.

Strategic Product Portfolio Expansion

The company significantly bolstered its specialty wire portfolio with the launch of Induction Hardened and Tempered (IHT) Wire in Q3FY26, adding 9,000 tonnes of new capacity. This high-performance product targets the automotive sector, primarily for manufacturing suspension and valve springs. Additionally, the company launched LRPC Wire (Low Relaxation Prestressed Concrete Steel Strand) at its Dadri plant with an incremental capacity of 18,000 MT in the previous quarter.

Management Commentary

Commenting on the sales volume performance, Mr. Pranav Bansal, MD & CEO, stated: "We're delighted to achieve our highest-ever quarterly sales volume of 121,702 MT in Q3FY26, marking strong growth of 31.70% YoY and 6.18% QoQ. This performance truly reflects the strength of our operations and our ability to capture opportunities across key sectors like automotive, infrastructure, and general engineering. Our expanded capacity of 618,000 MTPA has been instrumental in meeting the robust demand we're seeing from India's growing infrastructure and automotive industries."

The record-breaking Q3FY26 performance positions Bansal Wire Industries strongly in the steel wire manufacturing sector, with the company maintaining its leadership position in Asia by volume. The consistent quarter-on-quarter and year-on-year growth, combined with strategic product launches, demonstrates the company's operational efficiency and strong market demand for its products across automotive and infrastructure segments.

Bansal Wire Industries Limited has disclosed receiving a Show Cause Notice from GST authorities demanding ₹6.70 crores in tax, penalty, and interest. The steel wire manufacturer made this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Notice Details and Allegations

The Show Cause Notice was issued by the Joint Commissioner, SGST, Corporate Circle-I, Ghaziabad Zone-I, Uttar Pradesh, under Section 74 of the SGST/CGST Act, 2017.

The allegations in the notice involve availment of blocked and excess Input Tax Credit (ITC) and non-payment of tax on sale of RODTEP (Remission of Duties and Taxes on Exported Products) license.

Company's Response and Position

Bansal Wire Industries has strongly contested the notice, stating that it is untenable and has no merit. The company emphasized that the tax amount of ₹6.70 crores demanded under Section 74 of SGST/CGST Act, 2017, along with equivalent penalty and applicable interest, should not be levied.

The management has indicated that they are reviewing the SCN and evaluating compliance obligations. The company plans to file an appropriate response to the notice within the prescribed timelines with the appropriate authority.

Historical Context

The company disclosed that similar notices had been issued by authorities for multiple previous financial years:

• FY 2018-19
• FY 2019-20
• FY 2020-21
• FY 2021-22
• FY 2022-23

Significantly, all these previous matters were resolved with negligible amounts, which strengthens the company's confidence in contesting the current notice.

Financial and Operational Impact

The company has stated that there is no material impact on financials, operations, or other activities arising from the Show Cause Notice. This assessment is based on their experience with similar notices in previous years and their belief in the lack of merit in the current allegations.

The disclosure was made in compliance with regulatory requirements, and the company has made the intimation available on its website at www.bansalwire.com for stakeholder information and record.