Precision Wires Raises ₹150 Cr via Convertible Debentures; Declares 35% Dividend as Q2 Revenue Jumps 59% to ₹1,950 Cr
Winding wires sit inside almost every motor, transformer and generator, so their demand follows the build-out of the power system. Copper is the main raw material, and its price swings tie up a lot of working capital for makers. Manufacturers that can fund their copper purchases and add capacity early are best placed when orders pick up.
The Nifty 50 was closed at 25,030.35, up 2.01%. Meanwhile, Sensex also rose 2.17% to 81,028.02 on Friday. Meanwhile, Shares of Precision Wires India Ltd. were closed at Rs. 401.25, down 5.03 percent from previous close of Rs. 422.50. The stock opened at Rs. 415.25 and reached an intraday high of Rs. 419.00 and low of Rs. 384.40. The company currently has a market capitalization of Rs. 7,357 crores.
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What's the news
Precision Wires India's board met on November 6 and approved results for the quarter and half year ended September 30, 2026. It declared a dividend of 35%, or Rs. 0.35 per Rs. 1 share, with November 13 as the record date and payment due by December 6. The board also approved a power purchase agreement to source renewable energy under a group captive model, with an investment of up to Rs. 5 crore. It sanctioned two additional secured working capital facilities from HDFC Bank as well.
The company has also raised funds. On September 25, after shareholder approval, it allotted 37.5 lakh 12% compulsorily convertible debentures of Rs. 400 each, adding up to Rs. 150 crore. Investors can convert them into equity shares on a 1:1 basis after 12 months but before 18 months. If they don't, the debentures convert automatically at 18 months.
Financial & Business Analysis
Looking at the quarterly results of Precision Wires India, the company's consolidated revenue from operations increased by 20.39 percent YoY, from Rs. 1,134.71 crore in Q2 FY26 to Rs. 1,366.06 crore in Q2 FY27, and decreased by 0.64 percent QoQ from Rs. 1,374.88 crore in Q1 FY27.
In Q2 FY27 Precision Wires India consolidated net profit increased 19.49 percent YoY, reaching Rs. 303.48 crore compared to Rs. 253.98 crore during the same period last year. As compared to Q1 FY27, the net profit decreased by 0.71 percent YoY, from Rs. 305.64 crore. The basic earnings per share stood at Rs. 16.54 as against Rs. 14.11 recorded in the same quarter in the previous year, FY2026.
Precision Wires reports a single business, making winding wires, so there is no revenue mix to split. The company doesn't disclose an order book either, which is normal for a maker that sells to motor and transformer manufacturers on repeat orders. Copper is its main input, and that shows in how the new funds are planned. The largest share of the debenture proceeds is earmarked for copper working capital, with the rest for new equipment and land.
None of that money had been used by the end of September, so the benefits are still ahead. Funding for copper helps the plant keep running smoothly as demand grows, and fresh equipment and land point to higher capacity. The convertible structure means the debentures turn into equity over time, which should leave the balance sheet stronger. The renewable power agreement could also ease energy costs.
Industry context
Winding wires are essential parts of transformers, motors and generators, which gives makers direct exposure to the build-out of India's power network. Peak power demand hit a record 271 GW in May 2026. Transmission is set for a Rs. 9 trillion investment cycle until 2032, driven by plans to add 470 GW of renewable capacity.
The grid is also set to grow sharply. India's transmission network is projected to expand from 5.09 lakh circuit km as of June 2026 to 6.48 lakh by 2032. Transformation capacity at 220 kV and above is expected to rise from 1,478 GVA to 2,345 GVA over the same period. Brokerages also point to EVs, data centres and renewable equipment as added demand for winding wires.
About Precision Wires India
Precision Wires India Limited, based in Mumbai and listed on the NSE and BSE, makes enamelled winding wires. Its works are at Silvassa. Founded in 1989, it supplies winding wires used in transformers, motors and other electrical equipment. The company is chaired and managed by Milan Mehta.
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