Ram Ratna Wires share price & results
- Jun 2026
- Sept 2026
India's leading manufacturer of enamelled winding wires and strips, now expanding into copper tubes & pipes.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,853 | +88.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 4.8 | +0.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 35.0 | +118.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 24.46 | +5.5 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -5.10 | −4.8 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 60.48 | +17.5 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −13.7% 1Y
1Y: ₹623 on 24 Oct 2025 → ₹537.7. High ₹646.5 (11 Nov 2025), low ₹278.25 (20 Jan 2026).
- Previous close
- ₹533.15
- Market cap
- ₹5.0k Cr
- 52-week range
- ₹278.25 – ₹646.5
- One year
- −13.72%
- Price to earnings (TTM to Jun 2026)
- 38.61×
- Return on equity (TTM to Jun 2026)
- 24.46%
Overview
- Symbol
- NSE:RAMRAT
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Ram Ratna Wires Limited does
Based on the company's own presentations, annual report and earnings calls.
Ram Ratna Wires manufactures enamelled copper and aluminium winding wires and strips used inside motors, transformers, generators and switchgear, and copper tubes & pipes used in air conditioners, HVAC and plumbing systems. It also makes submersible winding wires, paper-covered and enamelled copper strips, and Litz wires for niche uses such as induction heating and EV wireless chargers. The company earns by selling these wire and tube products through a PAN-India distribution network directly to large OEMs and via export markets, and has diversified into BLDC motors and wind-turbine tower components through a joint venture and a majority-owned subsidiary.
Segments
- Enamelled Wires & Strips
- Copper Tubes & Pipes
- Others
- Manufacturing plants
- 5 (3 in Silvassa/Dadra & Nagar Haveli, 1 in Vadodara/Baroda Gujarat, 1 in Bhiwadi Rajasthan)
- Enamelled wire size range offered
- 0.016 mm to 5.000 mm (widest range in India; only manufacturer offering it)
- Bhiwadi copper tube plant installed capacity
- 24,000 MTPA
- Global Copper (merged) capacity
- Over 7,200 MTPA
- Distribution network reach
- 200+ cities across India
- Share of output supplied to large OEMs
- 70-75% of products
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +119% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 940 | 889 | 957 | 982 | 1,163 | 1,278 | 1,753 | 1,853 |
| Expenses | 904 | 850 | 912 | 940 | 1,109 | 1,207 | 1,661 | 1,765 |
| Operating profit | 36 | 38 | 45 | 43 | 54 | 71 | 92 | 88 |
| Operating margin | 3.8% | 4.3% | 4.7% | 4.4% | 4.7% | 6.0% | 5.0% | 4.8% |
| Other income | 4 | 4 | 6 | 4 | 4 | 1 | 6 | 2 |
| Interest | 13 | 14 | 16 | 16 | 19 | 21 | 28 | 32 |
| Depreciation | 5 | 5 | 6 | 8 | 9 | 8 | 13 | 13 |
| Profit before tax | 22 | 23 | 30 | 22 | 31 | 42 | 57 | 46 |
| Tax rate | 22.0% | 21.0% | 37.0% | 29.0% | 29.0% | 25.0% | 32.0% | 24.0% |
| Net profit | 17 | 18 | 19 | 16 | 22 | 32 | 39 | 35 |
| EPS (₹ per share) | 1.91 | 1.87 | 2.04 | 1.75 | 2.28 | 3.35 | 4.18 | 3.77 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 2,649 | 2,982 | 3,678 | 5,176 |
| Expenses | 2,540 | 2,865 | 3,522 | 4,917 |
| Operating profit | 108 | 120 | 155 | 260 |
| Other income | 8 | 16 | 18 | 15 |
| Interest | 32 | 40 | 55 | 84 |
| Depreciation | 19 | 20 | 21 | 38 |
| Profit before tax | 64 | 75 | 98 | 152 |
| Net profit | 47 | 54 | 70 | 109 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 11 | 22 | 22 | 22 | 23 | 47 |
| Reserves | 260 | 290 | 404 | 461 | 484 | 533 |
| Borrowings | 270 | 267 | 249 | 305 | 627 | 675 |
| Other liabilities | 174 | 251 | 277 | 512 | 571 | 739 |
| Total liabilities | 715 | 829 | 952 | 1,300 | 1,706 | 1,994 |
| Fixed assets | 151 | 147 | 214 | 404 | 431 | 639 |
| Capital work in progress | 7 | 4 | 29 | 113 | 131 | 34 |
| Investments | 66 | 80 | 43 | 19 | 18 | 16 |
| Other assets | 492 | 599 | 666 | 763 | 1,126 | 1,305 |
| Total assets | 715 | 829 | 952 | 1,300 | 1,706 | 1,994 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -26 | 151 | 65 | 138 | 227 | -93 |
| Cash from investing | -14 | -19 | -20 | -6 | -268 | -151 |
| Cash from financing | 42 | -121 | -45 | -107 | 3 | 250 |
| Net cash flow | 3 | 11 | -1 | 26 | -38 | 6 |
| Free cash flow | -39 | 132 | 40 | 32 | -10 | -264 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 68 | 50 | 47 | 39 | 39 | 45 |
| Inventory days | 36 | 22 | 29 | 27 | 26 | 38 |
| Days payable | 12 | 21 | 29 | 33 | 47 | 51 |
| Cash conversion cycle | 92 | 51 | 46 | 33 | 18 | 33 |
| Working capital days | 28 | 27 | 26 | 23 | 9 | 10 |
| Return on capital employed | 9.0% | 18.0% | 17.0% | 17.0% | 20.0% | 24.0% |
| Dividend payout | 15.0% | 21.0% | 24.0% | 20.0% | 16.0% | 22.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Winding wires and strips contributes 72.6% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Winding wires and strips 72.6%
₹1,356.90 crore
- Copper tubes and pipes 26.2%
₹489.98 crore
- Other 1.1%
₹21.29 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Winding wires and strips | 1,356.90 | 72.6% |
| Copper tubes and pipes | 489.98 | 26.2% |
| Other | 21.29 | 1.1% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹1,868.16 crore
- Intersegment adjustment
- ₹14.88 crore
- Net segment revenue
- ₹1,853.28 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Copper tubes and pipes grew from 14% to 26% of revenue over the last two years.
| Segment | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Winding wires and strips | — | — | — | — | — | — | 79% | 73% | — |
| Copper tubes and pipes | 14% | 12% | 17% | 15% | 14% | 25% | 20% | 26% | +256.6% |
| Other | — | — | — | 3% | 2% | — | 2% | 1% | -3.5% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
AttractiveTo justify its price of ₹538, this stock must grow earnings at 26% every year for 7 years. Our analysis caps realistic growth at ~32%. At that growth it is worth ₹728 — upside of 35%.
- Growth the price implies
- 26.2% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 32.4% a year
- net profit, FY23–FY26
- The gap
- -0.1 pp
- 35% downside if it only repeats history
Ownership
Who owns it
Promoters hold 67.92% as of Sept 2026; institutions added 0.35 pts since Jun 2026.
- Promoters 67.92%
- Foreign institutions 0.94%
- Domestic institutions 0.50%
- Public 30.64%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 17.73% held
- newly disclosed 1.38% held
- +0.46 pp 6.10% held
- +0.45 pp 1.86% held
The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Ram Ratna Wires Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 17.73% | newly disclosed | |
| 6.10% | +0.46 pp | |
| 6.05% | unchanged | |
| 6.03% | unchanged | |
| 6.00% | unchanged | |
| 4.92% | unchanged | |
| 4.73% | −0.91 pp | |
| 4.39% | unchanged | |
| 2.82% | unchanged | |
| 2.48% | unchanged | |
| 1.86% | +0.45 pp | |
| 1.71% | 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.
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