Ram Ratna Wires LimitedQ2 FY27 Results & Financial Update
Ram Ratna Wires Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,961.95 Cr, PAT ₹35.70 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Ram Ratna Wires Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Ram Ratna Wires delivered a consolidated revenue from operations of ₹1,961.95 crore for the second quarter of fiscal 2027, accompanied by total income of ₹1,969.45 crore.
The company's investor disclosures highlight continued year-on-year expansion across key performance metrics for both the quarter and the half-year ended September 30, 2026, driven by sustained demand in core conversion segments.
Operating performance during the period benefited from structural tailwinds across electrification, power transformers, efficient motor adoption, and the substitution of imported copper tubes through domestic manufacturing capacities.
The company's strategic subsidiaries and joint ventures—including wind energy component manufacturer Tefabo and BLDC motor platform Epavo Electricals—continued to integrate into the broader industrial ecosystem, supporting portfolio diversification.
The copper tubes business maintained its strong operational profile, contributing approximately 24% of quarterly revenue as domestic capacities scaled up to address historical import dependencies.
01 · Business model
What does Ram Ratna Wires do?
Ram Ratna Wires Limited operates as a specialized copper conversion platform spanning 34 years of manufacturing experience, moving well beyond traditional winding-wire production into a diversified industrial supplier.
The enterprise is structured around two core manufacturing engines: the established winding-wires and strips franchise based in Silvassa, and the scaling copper tubes and pipes platform operating from Jarod and Bhiwadi.
Its expansive product catalogue addresses specification-heavy industrial demand across eleven end-use sectors, supplying 70% to 75% of its output directly to large original equipment manufacturers (OEMs) spanning power infrastructure, electric motors, renewables, and consumer appliances.
Supported by a nationwide distribution network spanning over 200 cities and an international footprint reaching 7 direct export markets, the company integrates advanced quality testing infrastructure to cater to rigorous technical specifications.
02 · Historical context
What shaped the business before this quarter
Incorporated in 1992, the company initially established a single winding-wire unit before listing on the Bombay Stock Exchange in 1995 and subsequently on the National Stock Exchange in 2022.
The manufacturing base expanded progressively with the Rakholi unit commencing production in 2005, the Sayli unit in 2018, and the acquisition of land in Bhiwadi in 2023 leading to new production operations by 2025.
The company expanded its technological and product boundaries through international joint ventures in Bangladesh (2011), investments in Global Copper Private Limited (GCPL starting 2017 culminating in merger approvals), and the formation of Epavo Electricals for BLDC motors in 2020.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q2 FY27 |
|---|---|
| Revenue from operations | ₹1,961.95 Cr |
| Total income | ₹1,969.45 Cr |
| Profit before tax | ₹51.54 Cr |
| Profit after tax | ₹35.70 Cr |
| EPS | ₹3.75 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Accounted for 74% of Q2 FY27 revenue, driven by high-performance enameled copper wires and strips supplied to electrical insulation and heavy engineering OEMs.
Contributed 24% of Q2 FY27 revenue, benefiting from import substitution dynamics in the heating, ventilation, air conditioning, and refrigeration (HVAC&R) sectors.
Direct exports to 7 international markets accounted for approximately 6% of total revenue during the quarter.
What drove margins
The transition from commodity gauge products to specified conductors—such as fine wires, Litz wires, and mobility-grade enameled wires—supported realization quality.
Working capital requirements and inventory values remain closely linked to underlying copper price movements independent of capital expenditures.
05 · Demand, customers & order book
Where demand is coming from
Supplies 70% to 75% of total production directly to large original equipment manufacturers across power infrastructure, automotive, and appliance industries.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Operates out of three plants in Silvassa (Dadra and Nagar Haveli), producing an extensive range of enameled copper and aluminum wires, strips, paper-covered conductors, and continuously transposed conductors (CTC).
Manufactured across plants in Jarod and Bhiwadi, offering level wound coils, pancake coils, inner grooved tubes (IGT), and medical-grade tubes backed by 100% online eddy current testing.
Geography and market mix
Maintains a PAN-India distribution network spanning over 200 cities, facilitating direct supply to OEMs and institutional clients across three manufacturing states.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Operates five specialized manufacturing plants across three states, featuring India's widest enameled wire range from 0.016 mm to 5.0 mm and advanced copper tube conversion capacity.
Projects, capex and execution
Bhiwadi plant operations established under state industrial policies (RIPS-2024 and White Goods PLI) serve as a major hub for copper tube import substitution.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Announced plans to acquire EPACK Durable's 50% stake in Epavo Electricals for ₹15 crore to transition the joint venture into a wholly-owned subsidiary by November 30, 2026.
The 64% subsidiary Tefabo operates two plants in Bengaluru and Vadodara, manufacturing wind turbine tower internals and structures with phased capacity expansion underway.
09 · Reported developments
What changed operationally
Positioned strongly to capture market share from imported copper tubes, which historically accounted for approximately 70% of Indian consumption.
Advancing OEM development projects for specialized categories including EV magnet wires (PI Class 240), CTC conductors for large power transformers, and corona-resistant inverter-duty motor wires.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Sustainability and Governance
The company maintains a top 7% EcoVadis sustainability ranking and operates under certified quality management frameworks including ISO 9001, ISO 14001, and ISO 45001.
11 · Key Q&A
The quarter, answered directly
What does Ram Ratna Wires do?
Ram Ratna Wires Limited operates as a specialized copper conversion platform spanning 34 years of manufacturing experience, moving well beyond traditional winding-wire production into a diversified industrial supplier.
What is the clearest takeaway from Q2 FY27?
Ram Ratna Wires delivered a consolidated revenue from operations of ₹1,961.95 crore for the second quarter of fiscal 2027, accompanied by total income of ₹1,969.45 crore.
What drove revenue or demand?
Accounted for 74% of Q2 FY27 revenue, driven by high-performance enameled copper wires and strips supplied to electrical insulation and heavy engineering OEMs.
What mattered most for margins or profitability?
The transition from commodity gauge products to specified conductors—such as fine wires, Litz wires, and mobility-grade enameled wires—supported realization quality.
What changed operationally beyond the headline numbers?
Operates five specialized manufacturing plants across three states, featuring India's widest enameled wire range from 0.016 mm to 5.0 mm and advanced copper tube conversion capacity.
What should the next disclosure help confirm?
Monitor the completion of the acquisition of the remaining 50% stake in Epavo Electricals scheduled for November 30, 2026.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Epavo Acquisition Closure: Monitor the completion of the acquisition of the remaining 50% stake in Epavo Electricals scheduled for November 30, 2026.
- 02
Copper Tube Capacity Ramp-up: Track utilization levels and output scaling at the Bhiwadi and Jarod copper tube manufacturing facilities.
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