The Board of Directors has approved a Rs. 50 crore investment to convert 12,000 TPA of Black Wire capacity into 10,000 TPA of Wire Rope at its Pithampur facility.
22 Apr 2025 | 265 Views | By Angitha Suresh
Rajratan Global Wire Limited (RGWL) announced on April 21, 2025, that its Board of Directors has approved the procurement of machinery for a new value-added product line, Wire Rope, at its Pithampur Plant. The strategic initiative aims to convert the existing 12,000 TPA capacity of Black Wire into 10,000 TPA ...
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Rajratan Global Wire Limited (RGWL) announced on April 21, 2025, that its Board of Directors has approved the procurement of machinery for a new value-added product line, Wire Rope, at its Pithampur Plant. The strategic initiative aims to convert the existing 12,000 TPA capacity of Black Wire into 10,000 TPA of Wire Rope, enhancing the company's product portfolio.
The investment, approximately Rs. 50 crores, will be funded through a combination of debt and internal accruals. According to the company's disclosure to stock exchanges, the Pithampur plant's current Black Wire capacity is operating at 95-100% utilization, making this value addition timely and strategic.
The company also declared its audited financial results for the fiscal year ended March 31, 2025. RGWL reported consolidated net revenue from operations of Rs. 93,525 lakhs, up from Rs. 89,045 lakhs in the previous fiscal year. The net profit for the period stood at Rs. 5,880 lakhs compared to Rs. 7,184 lakhs in FY 2023-24.
The Board has recommended a final dividend of 100% (Rs. 2 per equity share) for FY 2024-25, subject to approval by shareholders at the upcoming Annual General Meeting. The date for the AGM will be announced later.
In a separate development, the Board approved the re-appointment of Mr. Sanjeev Sood as an Independent Director for a second term of five years, effective from April 21, 2025, to April 20, 2030. Mr. Sood, who has over four decades of experience in manufacturing and P&L roles, also serves on the boards of Birla Carbon (Thailand) Public Co. Ltd. and Aditya Birla Chemicals Thailand.
Rajratan Global Wire Limited, headquartered in Indore, Madhya Pradesh, operates manufacturing facilities in India and Thailand. The company identifies "Tyre Bead Wire" as its single operating segment for continued operations in standalone and consolidated financial statements.
The company's statutory auditors, M/s Fadnis and Gupte LLP, Chartered Accountants, issued audit reports with unmodified opinions on both standalone and consolidated financial results.