By BullScreen Editorial Team 
Rajratan Global Wire Limited reported strong topline growth in its Q4 results 2026, driven by record sales volumes across India and Thailand, even as rising input costs weighed on profitability.
The company posted operating revenue of ₹31,429 lakh in Q4 FY26, marking a 25% year-on-year increase from ₹25,142 lakh in the same period last year. This growth was supported by a sharp rise in volumes, with total sales reaching 36,484 metric tonnes, up 19% compared to 30,573 metric tonnes a year ago.
India remained the key contributor, accounting for 65% of revenue, while Thailand contributed 35%. The Indian segment recorded a 20% rise in volumes to 22,122 metric tonnes, while Thailand volumes grew 18% to 14,362 metric tonnes.
Despite the strong revenue performance, profitability remained under pressure in the Q4 results 2026. EBITDA declined 14% year-on-year to ₹2,860 lakh, with margins contracting sharply by 420 basis points to 9.1%. Profit after tax (PAT) saw only a marginal increase of 2% to ₹1,543 lakh, as PAT margins slipped to 4.9% from 6.0% a year earlier.
The margin pressure was largely attributed to a 20% spike in wire rod prices and higher energy costs triggered by global geopolitical tensions, including the US-Iran conflict. The company was unable to immediately pass on these cost increases to customers during the quarter, impacting earnings.
On a full-year basis, however, performance remained stable. FY26 revenue rose to ₹115,650 lakh, while PAT increased to ₹7,011 lakh. Earnings per share also improved to ₹13.81 from ₹11.58 in FY25, indicating underlying growth momentum.
Operationally, Rajratan continues to expand its global footprint, with a combined capacity of over 1.3 lakh tonnes per annum across India and Thailand. The ongoing Chennai greenfield project is expected to further boost capacity and support future growth.
Looking ahead, management remains optimistic following the Q4 results 2026, citing successful price revisions effective April 2026. Higher capacity utilization and improved cost pass-through are expected to support margins in the coming quarters.
| Metric | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Revenue | ₹31,429 Lakhs | ₹25,142 Lakhs | +25% |
| EBITDA | ₹2,860 Lakhs | ₹3,333 Lakhs | -14% |
| Profit After Tax (PAT) | ₹1,543 Lakhs | ₹1,520 Lakhs | +2% |
| EBITDA Margin | 9.1% | 13.3% | -420 bps |
| PAT Margin | 4.9% | 6.0% | -110 bps |
| Interest Expense | ₹613 Lakhs | ₹748 Lakhs | -18% |
| Total Sales Volume | 36,484 MT | 30,573 MT | +19% |
| Category | FY26 Performance |
|---|---|
| Total Revenue | ₹115,650 Lakhs |
| Profit After Tax | ₹7,011 Lakhs |
| EPS | ₹13.81 (vs ₹11.58 in FY25) |
| Total Volume Sales | 133,615 MT (+18% YoY) |
| India Volume | 22,122 MT (+20% YoY in Q4) |
| Thailand Volume | 14,362 MT (+18% YoY in Q4) |
| Revenue Mix | India 65% |
| Total Installed Capacity | 1,32,000+ TPA (India + Thailand) |
| Chennai Plant | 30,000 TPA (Phase 1, expandable to 60K) |
| Key Challenge | Raw material & energy cost surge |
| Outlook | Price hikes from April, higher utilization |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/d0e8dd18-0336-4b45-8649-da677ef697c8.pdf