Announcement • May 11
Bharat Wire Ropes Limited to Report Q4, 2026 Results on May 16, 2026 Bharat Wire Ropes Limited announced that they will report Q4, 2026 results at 4:00 PM, Indian Standard Time on May 16, 2026 Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 7 highly experienced directors. Non–Executive Independent Director Subhash Kalia was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Apr 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₹222, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total returns to shareholders of 48% over the past three years. Reported Earnings • Feb 03
Third quarter 2026 earnings released: EPS: ₹2.66 (vs ₹2.18 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.66 (up from ₹2.18 in 3Q 2025). Revenue: ₹1.43b (down 12% from 3Q 2025). Net income: ₹182.5m (up 23% from 3Q 2025). Profit margin: 13% (up from 9.2% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 23
Bharat Wire Ropes Limited to Report Q3, 2026 Results on Feb 02, 2026 Bharat Wire Ropes Limited announced that they will report Q3, 2026 results on Feb 02, 2026 New Risk • Dec 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹3.23 (vs ₹2.77 in 2Q 2025) Second quarter 2026 results: EPS: ₹3.23 (up from ₹2.77 in 2Q 2025). Revenue: ₹1.65b (up 8.3% from 2Q 2025). Net income: ₹221.4m (up 17% from 2Q 2025). Profit margin: 13% (up from 12% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 08
Bharat Wire Ropes Limited to Report Q2, 2026 Results on Nov 12, 2025 Bharat Wire Ropes Limited announced that they will report Q2, 2026 results on Nov 12, 2025 New Risk • Oct 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹207, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total returns to shareholders of 75% over the past three years. Announcement • Sep 03
Bharat Wire Ropes Limited, Annual General Meeting, Sep 25, 2025 Bharat Wire Ropes Limited, Annual General Meeting, Sep 25, 2025, at 15:00 Indian Standard Time. Reported Earnings • Aug 12
First quarter 2026 earnings released: EPS: ₹2.28 (vs ₹2.65 in 1Q 2025) First quarter 2026 results: EPS: ₹2.28 (down from ₹2.65 in 1Q 2025). Revenue: ₹1.42b (up 6.3% from 1Q 2025). Net income: ₹156.1m (down 14% from 1Q 2025). Profit margin: 11% (down from 14% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 20% per year. Announcement • Aug 05
Bharat Wire Ropes Limited to Report Q1, 2026 Results on Aug 11, 2025 Bharat Wire Ropes Limited announced that they will report Q1, 2026 results on Aug 11, 2025 Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹223, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 22x in the Metals and Mining industry in India. Total returns to shareholders of 236% over the past three years. Reported Earnings • May 24
Full year 2025 earnings released: EPS: ₹10.60 (vs ₹14.15 in FY 2024) Full year 2025 results: EPS: ₹10.60 (down from ₹14.15 in FY 2024). Revenue: ₹6.20b (flat on FY 2024). Net income: ₹724.4m (down 25% from FY 2024). Profit margin: 12% (down from 16% in FY 2024). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 43% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 13
Bharat Wire Ropes Limited to Report Q4, 2025 Results on May 19, 2025 Bharat Wire Ropes Limited announced that they will report Q4, 2025 results on May 19, 2025 Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: ₹2.18 (vs ₹3.88 in 3Q 2024) Third quarter 2025 results: EPS: ₹2.18 (down from ₹3.88 in 3Q 2024). Revenue: ₹1.62b (up 3.0% from 3Q 2024). Net income: ₹148.8m (down 44% from 3Q 2024). Profit margin: 9.2% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Jan 28
Bharat Wire Ropes Limited to Report Q3, 2025 Results on Feb 03, 2025 Bharat Wire Ropes Limited announced that they will report Q3, 2025 results on Feb 03, 2025 Recent Insider Transactions • Nov 28
Key Executive recently bought ₹5.1m worth of stock On the 19th of November, Manan Mittal bought around 23k shares on-market at roughly ₹223 per share. This transaction amounted to 1.3% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹16m. Manan has been a buyer over the last 12 months, purchasing a net total of ₹26m worth in shares. Recent Insider Transactions • Nov 15
Key Executive recently bought ₹16m worth of stock On the 12th of November, Manan Mittal bought around 67k shares on-market at roughly ₹236 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Manan's only on-market trade for the last 12 months. Announcement • Oct 21
Bharat Wire Ropes Limited to Report Q2, 2025 Results on Oct 28, 2024 Bharat Wire Ropes Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Announcement • Sep 02
Bharat Wire Ropes Limited, Annual General Meeting, Sep 25, 2024 Bharat Wire Ropes Limited, Annual General Meeting, Sep 25, 2024, at 11:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹271, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 310% over the past three years. New Risk • Aug 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: ₹2.65 (vs ₹3.50 in 1Q 2024) First quarter 2025 results: EPS: ₹2.65 (down from ₹3.50 in 1Q 2024). Revenue: ₹1.34b (down 16% from 1Q 2024). Net income: ₹180.5m (down 24% from 1Q 2024). Profit margin: 14% (down from 15% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Jul 26
Bharat Wire Ropes Limited to Report Q1, 2025 Results on Aug 01, 2024 Bharat Wire Ropes Limited announced that they will report Q1, 2025 results on Aug 01, 2024 Recent Insider Transactions • Jun 04
Joint MD & Director recently bought ₹560k worth of stock On the 30th of May, Mayank Mittal bought around 2k shares on-market at roughly ₹280 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth ₹8.9m. Insiders have collectively bought ₹4.9m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 23
MD & Executive Director recently bought ₹2.7m worth of stock On the 18th of May, Murarilal Mittal bought around 10k shares on-market at roughly ₹272 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹8.9m. Insiders have collectively bought ₹4.4m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 15
MD & Executive Director recently bought ₹5.7m worth of stock On the 6th of May, Murarilal Mittal bought around 20k shares on-market at roughly ₹283 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹8.9m. Insiders have collectively bought ₹1.7m more in shares than they have sold in the last 12 months. Buy Or Sell Opportunity • Apr 29
Now 20% overvalued Over the last 90 days, the stock has fallen 11% to ₹315. The fair value is estimated to be ₹262, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 30% in the next year. Announcement • Apr 24
Bharat Wire Ropes Limited to Report Q4, 2024 Results on Apr 30, 2024 Bharat Wire Ropes Limited announced that they will report Q4, 2024 results on Apr 30, 2024 Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹318, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 635% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹262 per share. Buy Or Sell Opportunity • Apr 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.9% to ₹318. The fair value is estimated to be ₹262, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 17% in a year. Earnings are forecast to grow by 35% in the next year. Recent Insider Transactions • Mar 16
MD & Executive Director recently bought ₹8.9m worth of stock On the 12th of March, Murarilal Mittal bought around 31k shares on-market at roughly ₹287 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold ₹10m more in shares than they bought in the last 12 months. Buy Or Sell Opportunity • Mar 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 8.3% to ₹322. The fair value is estimated to be ₹268, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 17% in a year. Earnings are forecast to grow by 35% in the next year. Buy Or Sell Opportunity • Feb 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₹330. The fair value is estimated to be ₹270, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 17% in a year. Earnings are forecast to grow by 35% in the next year. Reported Earnings • Jan 23
Third quarter 2024 earnings released: EPS: ₹3.88 (vs ₹2.95 in 3Q 2023) Third quarter 2024 results: EPS: ₹3.88 (up from ₹2.95 in 3Q 2023). Revenue: ₹1.57b (up 9.1% from 3Q 2023). Net income: ₹263.5m (up 39% from 3Q 2023). Profit margin: 17% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 8.4% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has increased by 126% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 16
Bharat Wire Ropes Limited to Report Q3, 2024 Results on Jan 22, 2024 Bharat Wire Ropes Limited announced that they will report Q3, 2024 results on Jan 22, 2024 Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹383, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 958% over the past three years. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹334, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 966% over the past three years. Reported Earnings • Oct 26
Second quarter 2024 earnings released: EPS: ₹3.60 (vs ₹2.40 in 2Q 2023) Second quarter 2024 results: EPS: ₹3.60 (up from ₹2.40 in 2Q 2023). Revenue: ₹1.59b (up 6.5% from 2Q 2023). Net income: ₹244.1m (up 59% from 2Q 2023). Profit margin: 15% (up from 10% in 2Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has increased by 119% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 20
Bharat Wire Ropes Limited to Report Q2, 2024 Results on Oct 25, 2023 Bharat Wire Ropes Limited announced that they will report Q2, 2024 results on Oct 25, 2023 Reported Earnings • Jul 27
First quarter 2024 earnings released: EPS: ₹3.50 (vs ₹1.89 in 1Q 2023) First quarter 2024 results: EPS: ₹3.50 (up from ₹1.89 in 1Q 2023). Revenue: ₹1.59b (up 19% from 1Q 2023). Net income: ₹237.6m (up 97% from 1Q 2023). Profit margin: 15% (up from 9.1% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 116% per year whereas the company’s share price has increased by 121% per year. Announcement • Jun 24
Bharat Wire Ropes Limited, Annual General Meeting, Jul 21, 2023 Bharat Wire Ropes Limited, Annual General Meeting, Jul 21, 2023. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹185, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Metals and Mining industry in India. Total returns to shareholders of 885% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹130, the stock trades at a trailing P/E ratio of 15.5x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 1,042% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹107, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 416% over the past three years. Reported Earnings • Jan 25
Third quarter 2023 earnings released: EPS: ₹2.95 (vs ₹0.49 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.95 (up from ₹0.49 in 3Q 2022). Revenue: ₹1.45b (up 40% from 3Q 2022). Net income: ₹188.9m (up ₹158.3m from 3Q 2022). Profit margin: 13% (up from 3.0% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Announcement • Jan 17
Bharat Wire Ropes Limited to Report Q3, 2023 Results on Jan 24, 2023 Bharat Wire Ropes Limited announced that they will report Q3, 2023 results at 12:08 PM, Indian Standard Time on Jan 24, 2023 Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹89.05, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 264% over the past three years. Recent Insider Transactions • Dec 03
Whole Time Director recently sold ₹929k worth of stock On the 1st of December, Venkateswararao Kandikuppa sold around 8k shares on-market at roughly ₹116 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹4.4m. Insiders have been net sellers, collectively disposing of ₹42m more than they bought in the last 12 months. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Dinesh Jain was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 23
Second quarter 2023 earnings released: EPS: ₹2.40 (vs ₹0.17 in 2Q 2022) Second quarter 2023 results: EPS: ₹2.40 (up from ₹0.17 in 2Q 2022). Revenue: ₹1.50b (up 59% from 2Q 2022). Net income: ₹153.6m (up ₹142.9m from 2Q 2022). Profit margin: 10% (up from 1.1% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Board Change • Oct 15
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Dinesh Jain was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 09
Head of Finance & Director recently sold ₹4.4m worth of stock On the 5th of September, Sushil Sharda sold around 40k shares on-market at roughly ₹111 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹5.4m. Insiders have been net sellers, collectively disposing of ₹42m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 25% share price gain to ₹133, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 366% over the past three years. Recent Insider Transactions • Aug 25
Head of Finance & Director recently sold ₹3.6m worth of stock On the 22nd of August, Sushil Sharda sold around 32k shares on-market at roughly ₹113 per share. In the last 3 months, they made an even bigger sale worth ₹8.0m. Insiders have been net sellers, collectively disposing of ₹38m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Aug 17
Investor sentiment improved over the past week After last week's 20% share price gain to ₹102, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 218% over the past three years. Board Change • Jul 30
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Dinesh Jain was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jul 20
Full year 2022 earnings released: EPS: ₹2.17 (vs ₹3.73 loss in FY 2021) Full year 2022 results: EPS: ₹2.17 (up from ₹3.73 loss in FY 2021). Revenue: ₹4.11b (up 64% from FY 2021). Net income: ₹136.6m (up ₹304.5m from FY 2021). Profit margin: 3.3% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Jun 10
Head of Finance & Director recently sold ₹8.0m worth of stock On the 8th of June, Sushil Sharda sold around 127k shares on-market at roughly ₹62.83 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹9.0m. Insiders have been net sellers, collectively disposing of ₹22m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 16% share price gain to ₹79.20, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 44% over the past three years. Recent Insider Transactions • Mar 29
Insider recently sold ₹9.0m worth of stock On the 25th of March, Hemant Agrawal sold around 140k shares on-market at roughly ₹64.27 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹11m more than they bought in the last 12 months. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.49 (up from ₹3.03 loss in 3Q 2021). Revenue: ₹1.04b (up 62% from 3Q 2021). Net income: ₹30.7m (up ₹167.0m from 3Q 2021). Profit margin: 3.0% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improved over the past week After last week's 21% share price gain to ₹64.40, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total loss to shareholders of 6.1% over the past three years. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹0.17 (vs ₹3.13 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹944.3m (up 35% from 2Q 2021). Net income: ₹10.7m (up ₹151.6m from 2Q 2021). Profit margin: 1.1% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 17
Insider recently sold ₹203k worth of stock On the 15th of September, Sushil Sharda sold around 3k shares on-market at roughly ₹67.54 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹539k. Insiders have been net sellers, collectively disposing of ₹853k more than they bought in the last 12 months. Executive Departure • Sep 10
Project Head of Chalisgaon Plant & Whole Time Director Sumit Modak has left the company On the 30th of August, Sumit Modak's tenure as Project Head of Chalisgaon Plant & Whole Time Director ended after 8.7 years in the role. We don't have any record of a personal shareholding under Sumit's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 6.00 years. Recent Insider Transactions • Sep 04
Insider recently sold ₹539k worth of stock On the 3rd of September, Hemant Agrawal sold around 8k shares on-market at roughly ₹66.16 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Sep 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Additional Non-Executive Independent Director Dinesh Jain was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 03
Full year 2021 earnings released: ₹3.73 loss per share (vs ₹13.56 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: ₹2.50b (down 2.9% from FY 2020). Net loss: ₹167.9m (loss narrowed 73% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 26
Full year 2021 earnings released: ₹3.73 loss per share (vs ₹13.56 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: ₹2.51b (down 2.7% from FY 2020). Net loss: ₹167.9m (loss narrowed 73% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Executive Departure • Mar 10
Company Secretary & Compliance Officer has left the company On the 9th of March, Shailesh Rakhasiya's tenure as Company Secretary & Compliance Officer ended after 6.6 years in the role. We don't have any record of a personal shareholding under Shailesh's name. A total of 2 executives have left over the last 12 months. Is New 90 Day High Low • Feb 18
New 90-day high: ₹39.75 The company is up 51% from its price of ₹26.25 on 20 November 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 36% over the same period. Reported Earnings • Feb 12
Third quarter 2021 earnings released: ₹3.03 loss per share (vs ₹3.59 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₹642.0m (up 9.8% from 3Q 2020). Net loss: ₹136.4m (loss narrowed 15% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 28
New 90-day high: ₹33.35 The company is up 42% from its price of ₹23.45 on 29 September 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 34% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ₹29.85 The company is up 9.0% from its price of ₹27.40 on 08 September 2020. The Indian market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 23% over the same period. Reported Earnings • Nov 11
Second quarter 2021 earnings released: ₹3.13 loss per share The company reported a solid second quarter result with reduced losses and improved revenues and control over expenses. Second quarter 2021 results: Revenue: ₹700.0m (up 6.0% from 2Q 2020). Net loss: ₹140.9m (loss narrowed 16% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 69% per year but the company’s share price has only fallen by 39% per year, which means it has not declined as severely as earnings.