DPWIRES
D P Wires financials
- Market cap
- ₹233 Cr
- Sector
- Capital Goods
What D P Wires does
D P Wires manufactures and supplies steel wires — Low Relaxation Pre-stressed Concrete (LRPC) Strands, plain and galvanised steel wire, spring steel wire and induction-tempered wire — used in bridges, flyovers, metro and bullet-train projects, railway sleepers, PCC poles and vehicle suspension components. It also produces plastic films and geomembrane sheet (HDPE/PE film, pond-lining film, cap covers) used for canal, landfill and pond lining, plus plastic pipes. All manufacturing is carried out at a single integrated facility in Ratlam, Madhya Pradesh that takes raw wire rod through pickling, wire drawing, stranding, inspection and packing under one roof. The company separately generates and sells power from two 0.8 MW wind turbines in Jamnagar district, Gujarat, under a long-term power purchase agreement.
Segments
- Steel Wire
- Plastics
- Wind power generation
- Installed manufacturing capacity
- ~84,000–100,000 MT/yr of steel wire at the single Ratlam plant (company presentations state ~100,000 MT as of FY24; FY24-25 Annual Report states ~84,000 MT)
- Manufacturing facility
- 1 integrated facility — Industrial Estate, Ratlam, Madhya Pradesh (wire-rod sourcing → pickling → wire drawing → stranding → inspection → packing, all under one roof)
- Captive wind power capacity
- 2 turbines x 0.80 MW (1.6 MW total) at Okha-Madhi & Jodhpur, Jamnagar district, Gujarat; sold under a 20-year PPA to Gujarat Urja Vikas Nigam Limited
- Branch/sales network
- 8 cities
- Client base
- 100+ clients
- Export markets
- Bangladesh, USA, Brazil, Nepal, Oman, Qatar (Doha), Muscat, Sri Lanka
Quarterly results
Q1 FY27: revenue up 3.7%, net profit up 31.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 145 | 155 | 138 | 126 | 130 −10% | 95 −38% | 129 −6% | 131 +4% |
| EBITDA | 6 | 5 | 5 | 4 | 0 −98% | 4 −32% | 10 +96% | 4 +7% |
| Net profit | 6 | 5 | 4 | 4 | 1 −80% | 3 −32% | 9 +132% | 5 +32% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −45.6% 1Y
1Y: ₹276.44 on 10 Sept 2025 → ₹150.33. High ₹279.2 (12 Sept 2025), low ₹126.74 (30 Mar 2026).
Financials, as filed
Revenue fell 26.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 3.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.2k Cr | ₹1.0k Cr | ₹621 Cr | ₹481 Cr |
| Operating profit | ₹55 Cr | ₹49 Cr | ₹26 Cr | ₹17 Cr |
| Operating margin | 4.6% | 4.9% | 4.2% | 3.6% |
| Interest | ₹2 Cr | ₹3 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹3 Cr | ₹4 Cr | ₹4 Cr | ₹3 Cr |
| Net profit | ₹41 Cr | ₹36 Cr | ₹22 Cr | ₹18 Cr |
| Net margin | 3.4% | 3.6% | 3.6% | 3.7% |
| Cash from operations | ₹46 Cr | ₹24 Cr | ₹52 Cr | ₹28 Cr |
| Free cash flow | ₹38 Cr | ₹19 Cr | ₹51 Cr | ₹35 Cr |
| ROCE | 32.0% | 25.0% | 12.0% | 9.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹16 Cr | ₹16 Cr | ₹16 Cr |
| Reserves | ₹109 Cr | ₹138 Cr | ₹178 Cr | ₹211 Cr | ₹238 Cr | ₹251 Cr |
| Borrowings | ₹8 Cr | ₹13 Cr | ₹2 Cr | ₹1 Cr | ₹2 Cr | ₹2 Cr |
| Other liabilities | ₹23 Cr | ₹31 Cr | ₹58 Cr | ₹35 Cr | ₹18 Cr | ₹20 Cr |
| Total liabilities | ₹154 Cr | ₹196 Cr | ₹251 Cr | ₹262 Cr | ₹274 Cr | ₹289 Cr |
| Fixed assets | ₹23 Cr | ₹28 Cr | ₹31 Cr | ₹32 Cr | ₹31 Cr | ₹22 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹7 Cr | ₹0 Cr |
| Other assets | ₹131 Cr | ₹168 Cr | ₹220 Cr | ₹230 Cr | ₹235 Cr | ₹267 Cr |
| Total assets | ₹154 Cr | ₹196 Cr | ₹251 Cr | ₹262 Cr | ₹274 Cr | ₹289 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 4% to 22,031.
- Promoters
- 74.8%
- DIIs
- 0.0%
- Public
- 25.2%
Since Jun 2025
- DIIs +0.01 pp
- Public −0.01 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 74.8%, Public 25.3%.Dec '23: Promoters 74.8%, Public 25.2%.Mar '24: Promoters 74.8%, FIIs 0.0%, Public 25.2%.Jun '24: Promoters 74.8%, Public 25.2%.Sep '24: Promoters 74.8%, Public 25.2%.Dec '24: Promoters 74.8%, Public 25.2%.Mar '25: Promoters 74.8%, FIIs 0.1%, DIIs 0.0%, Public 25.1%.Jun '25: Promoters 74.8%, DIIs 0.0%, Public 25.2%.Sep '25: Promoters 74.8%, FIIs 0.1%, DIIs 0.0%, Public 25.1%.Dec '25: Promoters 74.8%, DIIs 0.0%, Public 25.2%.Mar '26: Promoters 74.8%, FIIs 0.0%, DIIs 0.0%, Public 25.2%.Jun '26: Promoters 74.8%, DIIs 0.0%, Public 25.2%.
Who is on the register
Named in the Jun 2026 filing
Every holder of D P Wires above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Asha Devi Kataria | 43.73% | unchanged |
| San Industries Private Limited | 12.80% | unchanged |
| Sapna Kataria | 4.37% | unchanged |
| Kantilal Kataria | 4.35% | unchanged |
| Rani Kataria | 4.31% | unchanged |
| Samta Kataria | 4.04% | unchanged |
| Amitabh Harivansh Rai Bachchan | 1.71% | −0.40 pp |
| Hemant Kataria | 0.46% | unchanged |
| Arvind Kataria | 0.44% | unchanged |
| Praveen Kataria | 0.27% | unchanged |
| Hemant Kantilal Kataria | 0.00% | unchanged |
| Arvind Kantilal Kataria | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
Growth trapTo justify its price of ₹150, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~-25%. At that growth it is worth ₹22 — downside of 85%.
- Growth the price implies
- 10.4% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -24.6% a year
- net profit, FY23–FY26 · EPS -24.6%
- The gap
- 0.4 pp
- -85% downside if it only repeats history
Learn to analyse D P Wires
Guides on how to read this kind of business and the numbers that matter.