Ram Ratna Wires Limited — PPTs, 30-05-2025: Investor Presentation

1. **Financial Highlights:**

Ram Ratna Wires reported consolidated revenue of ₹3,676.7 Cr in FY25, up 23.2% YoY. EBITDA grew 31.4% to ₹156.3 Cr with margins improving to 4.3%. Profit after tax rose 28.5% to ₹70.2 Cr, though PAT margin remained modest at 1.9%. Q4FY25 revenue was ₹956.7 Cr (+19.1%), EBITDA ₹45.3 Cr (+23.3%), while PAT slightly declined QoQ to ₹18.7 Cr. Equity increased to ₹489.1 Cr, supported by borrowings of ₹296.2 Cr, reflecting significant capex investments. Capital work-in-progress jumped to ₹113.5 Cr from ₹28.6 Cr last year. Operating cash flow at ₹227.4 Cr helped fund ₹268 Cr of capex for capacity expansion.

2. **Strategic Initiatives & Growth Drivers:**

The company is investing ₹700 Cr over 3 years in capacity expansion, with ₹250 Cr spent in FY25. Capacity now stands at 41,400 MTPA for enameled wires and 7,200 MTPA for copper tubes. New plants in Dadra, Silvassa, and near-completion Bhiwadi facility target growth in copper tubes and renewables. Focus on value-added products like BLDC motors, HVLS fans, and copper tubes aligns with demand from air conditioning, EV, and plumbing sectors.

3. **Business Developments:**

Ram Ratna acquired 60% of Global Copper Pvt Ltd to boost copper tube capacity and Tefabo Product Pvt Ltd to enhance contract manufacturing in wind energy towers. Its joint venture Epavo Electricals drives BLDC motor production for ACs, EVs, and HVAC under the government’s PLI scheme, strengthening diversification and “Make in India” positioning.

4. **Market Position & Competitive Advantage:**

As India’s top manufacturer of enameled copper wires with a ~20%+ 5-year CAGR, Ram Ratna operates at ~85-90% capacity utilization, supplying primarily to large OEMs. It boasts advanced manufacturing, key certifications (IATF16949, railway, automotive approvals), a pan-India distribution network across 200+ cities, and backward integration in copper tubes. Its renewables segment commands a 30-40% market share in wind turbine towers.

5. **Investor Implications:**

Strong revenue and margin growth alongside aggressive capex underpin positive growth potential. The company is well placed to capitalize on rising demand in copper wires, tubes, and green energy components. Investors should watch execution risks around new plant commissioning, acquisition integration, and working capital amid debt-funded expansion. Ram Ratna’s technological edge and focused product portfolio support attractive long-term prospects.