Precision Wires India Ltd(PRECWIRE)

NSE: PRECWIREBSE: 523539

₹ 400.2+1.01%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 7,316 crWebsite: www.precisionwires.com/Updated: 24 Oct 2026

About

Precision Wires India Ltd manufactures copper winding wires used in rotating and static electrical equipment, operating as a single-segment company under the brand MILAN. In FY26 the company reported revenue of Rs 5,410.18 crore, with domestic sales of Rs 4,581.24 crore and export sales of Rs 828.94 crore. The company describes itself as the industry leader and preferred choice for demanding OEM customers.^[1][2]

Business segments

In FY26, domestic (India) geographic revenue was Rs 4,581.24 crore and export (outside India) revenue was Rs 828.94 crore.^[1]

Products and brand

The company produces copper winding wires for both rotating electrical equipment (motors, generators) and static electrical equipment (transformers).^[1]
Winding wires are marketed under the brand MILAN.^[1]

Operations and capacity

Manufacturing plants are located at Silvassa (Dadra & Nagar Haveli) and Valvada, Gujarat.^[1]
Installed copper winding wire capacity is targeted to reach approximately 65,500 MT/PA by end of Q1 FY28 and approximately 68,500 MT/PA by end of Q2 FY28 across five projects.^[1]
Copper Rod manufacturing at Valvada, Gujarat commenced in March 2026 for captive use at the Silvassa plants.^[1]
Capital work-in-progress stood at Rs 18,297.96 lakhs as at 31 March 2026, predominantly less than one year old, reflecting active capacity expansion.^[1]

Raw material and procurement

The company follows a back-to-back purchase strategy, buying copper only against confirmed sales orders to minimise exposure to copper price volatility.^[1]
Average copper price in USD per MT rose approximately 15% in FY26 versus FY25; the Indian Rupee weakened by around 4.5% on average during FY26.^[1]
Hedged import creditors (raw material) stood at USD 1,06,16,143 equivalent to Rs 10,048.64 lakhs as at 31 March 2026.^[1]

Customers and distribution

The company primarily caters to the OEM sector; dealer market sales are less than 10% of total sales by quantity and value.^[1]
Despite stiff competition and tariff discrimination in international markets, exports grew in FY26 contributing to a balanced revenue mix.^[1]

Expansion and capex

A 6,700 MT/year expansion at Silvassa approved in August/November 2024 was projected to be completed by end of Q1 FY27.^[3]
Copper Refining/Recycling Project at Zaroli, Gujarat is under implementation with trial production expected in Q2 FY27, subject to receipt of all regulatory approvals.^[1]
Board authorised investment of approximately Rs 188 crore (excluding land) for the Copper Refining/Recycling Project at Zaroli, Gujarat; copper cathodes to be available from FY27.^[3]
Undrawn bank credit facilities expanded to Rs 17,050 lakhs in FY26 from Rs 11,250 lakhs previously, reflecting increased banking lines to support growth.^[1]

Recent developments

Memorandum of Association was altered to cover metals and minerals refining and recycling business, following Board approval of the Copper Refining/Recycling Expansion Project on 22 March 2025.^[1]
Borrowing limit was proposed to be raised from Rs 1,500 crore to Rs 2,500 crore as existing borrowings approached the prior threshold.^[3]
CSR spending in FY26 was short by Rs 28.02 lakhs; the shortfall was transferred to a separate designated account for spending in FY27.^[1]

Market Cap

₹7,316 Cr

High / Low

₹524 / 198

Stock P/E

41.8

Price / Book

9.5

Book Value

₹42

EPS

₹8.5

No. of Shares

18.28 Cr

ROCE

35.8%

ROE

23.0%

OPM

5.2%

Debt / Equity

0.21

Sales

₹5,410 Cr

Net Profit

₹155 Cr

Promoter holding

56.6%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

No earnings calls are on record for this company, so our models read its annual report and financials end-to-end - then value the business and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
P&L bridge from reported history - worst / average / best multiple cases.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials