RAM RATNA WIRES LTD.-$ Q1 FY27 Results

Ram Ratna Wires' consolidated Q1 FY27 (quarter ended June 30, 2026) revenue came in at ₹1,853.28 Cr, up 88.6% YoY from ₹982.47 Cr and up 5.7% QoQ from ₹1,752.85 Cr. Consolidated PAT of ₹35.16 Cr rose 120.9% YoY from ₹15.92 Cr but slipped 10.4% QoQ from ₹39.23 Cr in Q4 FY26 — the YoY jump is the headline story, with the sequential dip a moderation off a strong March quarter rather than a reversal. No exceptional items sat in either the current or year-ago quarter, so the YoY growth is clean and unadjusted.

The YoY surge was driven almost entirely by the Copper Tubes & Pipes segment (standalone), whose revenue jumped 257% to ₹489.98 Cr from ₹137.39 Cr and segment PBT jumped 339% to ₹22.99 Cr from ₹5.23 Cr — consistent with copper-price pass-through plus a volume ramp, given copper is the principal input on a cost-plus model. Winding Wires & Strips, the larger legacy segment, grew a more modest 64.1% YoY but its PBT fell 15.3% QoQ to ₹59.90 Cr (standalone) — a sequential give-back that, combined with a 13.1% QoQ rise in standalone finance costs to ₹30.36 Cr (up ~97% YoY), explains the QoQ profit decline despite continuing revenue growth. Consolidated NPM expanded to 1.90% from 1.61% a year ago but eased from 2.23% last quarter; OPM was roughly flat YoY at 4.46% (vs 4.36%) but down from 5.32% sequentially — margins are being squeezed period-on-period even as the YoY base effect flatters them.

The stock went into the print at ₹448.5, up 9.8% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.

Standalone PAT of ₹36.72 Cr grew a sharper 152.6% YoY, a gap versus consolidated growth explained by a net ₹1.42 Cr joint-venture loss this quarter (the Bangladesh JV RR-Imperial Electricals' ₹0.61 Cr profit was more than offset by a loss at Epavo Electricals) versus a small net JV profit a year ago. Basic EPS came in at ₹3.77 (consolidated) versus ₹4.18 in Q4 FY26; the year-ago comparative of ₹1.66 reflects restatement for the 1:1 bonus issue (record date December 26, 2025) — on a like-for-like basis Q1 FY26 EPS was ₹3.31. We have no prior management guidance or concall commentary on record for this company, and no management press release was available for this result, so neither can be checked against the print. We also found no reliable street/consensus estimate specific to this quarter — web searches surfaced only unrelated historical results commentary — so vs-street is marked unknown rather than guessed. Separately, the company set a July 22, 2026 record date for a ₹2.50/share dividend and has scheduled its 34th AGM for August 4, 2026, alongside filing its FY26 BRSR — none of these are tied to the quarter's operating numbers.