Shree Steel Wire Ropes turns around: Q1 PAT ₹0.23 Cr vs year-ago loss as revenue more than doubles

Shree Steel Wire Ropes posted a clear year-on-year turnaround in Q1 FY27 (standalone; no consolidated statement is filed). Revenue from operations more than doubled to ₹2.43 Cr from ₹1.09 Cr a year ago (+122% YoY), and the company swung from a ₹0.19 Cr net loss in Q1 FY26 to a ₹0.23 Cr net profit. The move is genuine operating recovery, not a one-off: exceptional items are nil on both sides, so raw and adjusted growth are the same, and the only tax charge is ₹0.01 Cr of deferred tax. The turn is driven almost entirely by volume/topline rather than cost efficiency — cost of materials consumed jumped to ₹1.36 Cr from ₹0.57 Cr in line with higher output, but operating leverage over the fixed base (employee cost roughly flat at ₹0.45 Cr, lower depreciation) carried the print through. Net margin expanded to ~9.3% from -16.8% a year ago and 2.0% last quarter, so the margin trajectory is decisively up. Sequentially the result also improved sharply (revenue +35% QoQ, PAT ₹0.23 Cr vs ₹0.04 Cr in Q4 FY26), though the YoY loss-to-profit swing is the real story. The result lands alongside a heavy management reshuffle approved the same day: Managing Director Ashish L. Sajnani resigned, Anil L. Sajnani was appointed MD effective 14 July 2026, Whole-Time Director Ramnarayan Tiwari resigned, and CFO Niranjan Choudhary resigned effective 31 July 2026 — a notable churn in the finance and board leadership to watch against the reported profitability. This is a micro-cap with no analyst coverage or consensus estimates, and management provides no formal revenue or margin guidance, so there is no street or guidance benchmark to judge the print against.