Bedmutha Industries Ltd(BEDMUTHA)

NSE: BEDMUTHABSE: 533270

₹ 105.4-0.57%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 340 crWebsite: www.bedmutha.comUpdated: 24 Oct 2026

About

Bedmutha Industries, established in 1990, makes and exports steel wire products (wire ropes, galvanised wire, spring steel wire, tyre bead wire, ACSR core wire, barbed wire) and copper products such as bus bars, rods, foils, wires and cables. Its brands are SURVE and COMMANDO. Revenue from operations was Rs 1466.74 cr in FY26, and copper made up 69.6% of it.^[1][2][3]

Business segments

Copper: revenue of Rs 1020.48 cr in FY26, 69.6% of the total. Its share rose 35.7 percentage points over FY2018-FY2026.^[3]
Steel: revenue of Rs 446.25 cr in FY26, 30.4% of the total. Its share fell 27.3 percentage points over FY2018-FY2026.^[3]
Segment revenue in FY25: copper Rs 673.04 cr, steel Rs 376.29 cr.^[1]

Products and brands

Steel products: steel wire ropes, galvanised wire, spring steel wire, tyre bead wire, ACSR core wire and barbed wire.^[1]
Copper products: bus bars, rods, foils, wires and cables. Copper foils are aimed mainly at battery components for electric and hybrid vehicles.^[1][4]
The company sells under the SURVE and COMMANDO brands.^[1]

Plants and capacity

The Sinnar, Nashik plant makes spring steel wire, with annual capacity of up to 24000MT (FY25 annual report).^[1]
Nardana has a 3600 MT/Month patenting galvanising line made by FIB Belgium and a pickling plant with capacity of 7000 MT/Month.^[1]
The Nardana plant is certified by TUV Nord and holds ISO 9001, ISO 14001 and OHSAS 18001.^[1]
Solar plants of 422 kW (rooftop) and 2,464 kW (ground) supply power at Rs 5.05/unit against the grid price of Rs 11.05/unit, saving about Rs 2.61 cr a year (Q4 FY26).^[5]
About 10,000 sq m of rope factory shed and about 5,000 sq m of copper factory shed have been added to hold new capacity (Q4 FY26 call).^[5]

Key operating numbers

Steel sales volume fell 4.35% to 37,257.26 MT in FY25 from 38,953.61 MT, while copper sales rose 13%.^[1]

Customers and markets

Products are approved by Power Corporation of India, state electricity boards, Defence, Railways, infrastructure companies and automobile companies.^[1]
The supply chain reaches 21 countries across South East Asia, Europe, Africa, America and Australia (FY25 annual report).^[1]
Currency exposure is not hedged with forward cover. Risks named in the FY25 annual report include US tariffs and the EU's carbon border tax (CBAM).^[1]

Expansion and capex

Mega Project 2: cumulative investment of Rs 255.55 cr by Mar-26 and Rs 301.31 cr by Jun-26, which completes the Rs 250 cr Phase-1. The balance of the Rs 460 cr total is targeted by March 2027.^[5]
Wire rope and strand capacity is planned to reach 24,000 MT a year through machine additions in FY27-28. The Q4 FY25 call had given an 18,000 MT target.^[5][4]
Capacity for copper value-added products (foil, strip, bus bars) is planned to reach 10,800 MT a year by FY28, up from the earlier target of 7,200 MT.^[5][4]
A further 4,000 kW DC rooftop solar plant is planned at Nardana before March 2028.^[5]

Recent developments

The rating on long-term bank facilities was upgraded to IVR BBB/Stable from IVR BBB-/Positive, with A3+ on the short term (FY25).^[1]
Subsidy and incentive income stopped accruing from Q4 FY25. PAT without subsidy was Rs 7.05 cr in FY26 against -9.93 cr in FY25.^[1][5]
A solar plant of about 2.9 MW DC, run by Total Energies, started commercial operation on 1 October 2024.^[4]

Market Cap

₹340 Cr

High / Low

₹143 / 96

Stock P/E

20.5

Price / Book

2.3

Book Value

₹47

EPS

₹2.0

No. of Shares

3.23 Cr

ROCE

10.9%

ROE

4.4%

OPM

3.4%

Debt / Equity

1.37

Sales

₹1,467 Cr

Net Profit

₹7 Cr

Promoter holding

57.1%

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