Baheti Recycling Industries Ltd Q4 FY26 Earnings Analysis
Published 14 Aug 2026 | Industrial Products | Market Cap: ₹791 Cr
Price
₹786
Market Cap
₹791 Cr
P/E Ratio
29.2
Revenue Rank
Rank 1
Margin Rank
Rank 3
Earnings Summary
FY27 target: Approximately ₹1,000 crore revenue milestone with existing plant excluding aluminum wire rod sales. FY27 revenue expected around 1,000 crores from aluminum wire rod and existing operations.
📊 Revenue & Sales Performance
Rank 1- →FY27 target: Approximately ₹1,000 crore revenue milestone with existing plant excluding aluminum wire rod sales.
- →Aluminum wire rod division to start contributing from Q4 FY27; initially ~10-15% utilization of 12,500 tons capacity.
- →FY28: Expect aluminum wire rod utilization to reach ~70-80%, driving significant revenue growth.
- →Projected overall revenue CAGR of 30-40% in FY27 and FY28, aiming for ₹1,200 crore revenue in FY28.
- →Volume growth focused on aluminum wire rod segment expansion (up to 25,000 tons post Phase 2).
- →Growth driven by expanded client base including OEMs like Bajaj Auto, TVS Motor, Royal Enfield, with repeat orders.
- →Additional incremental capacity expansion planned (5,000-7,000 tons) in existing premises by H2 FY27.
- →Emphasis on maintaining sustainable EBITDA margins (7-10%), improving cash flow, and reducing working capital cycle.
📈 Profitability & Margins
Rank 3- →FY27 revenue expected around 1,000 crores from aluminum wire rod and existing operations.
- →EBITDA margin guidance maintained at 7-10%; potential improvement to ~10% by FY28 with wire rod business ramp-up.
- →Aluminum wire rod segment to start contributing from Q4 FY27, with minimal impact on FY27 EBITDA but significant growth in FY28.
- →FY28 expected to see substantial margin and revenue growth due to full operation of wire rod plant and scale-up of OEM business.
- →Targeting 30-40% CAGR over current and FY28, aiming for 1,200+ crore revenue in FY28.
- →EPS and profit growth aligned with revenue and margin expansion as working capital efficiency improves with direct OEM connections.
- →Operating cash flows to improve post FY28 as inventory days reduce and OEM approvals stabilize.
- →Incremental EBITDA margin from wire rod business estimated at 1-2% over existing margin profile.
🏗️ Capital Expenditure Plans
Yes- →The company is planning additional capex for expanding capacity by 5,000-7,000 tons at the existing premises.
- →A new aluminum wire rod project with a capacity of 12,500 tons is underway.
- →Phase 1 of the wire rod project is expected to commission by October-November 2026, with initial utilization at 10-15% for the first 3-4 months.
- →FY28 is targeted for around 70-80% utilization of the wire rod plant.
- →Phase 2 capex for the wire rod project will be around ₹5 crores for furnace setup, with infrastructure costs spread across both phases.
- →The company expects the new wire rod business to contribute meaningfully starting FY28, improving revenues and margins.
- →Focus is also on improving working capital efficiency linked to increased business with OEMs.
- →Overall capex is aimed at scaling aluminum wire rod production and incremental capacity enhancement at current facility.
💰 Fundraising & Capital Structure
Yes- →No explicit mention of any ongoing or planned new fundraising through debt or equity in the provided transcript.
- →The management, specifically Manoj Shah (CFO), mentioned efforts to reduce debt and improve key financial ratios to strengthen the balance sheet.
- →The company is working on making working capital more efficient to reduce reliance on debt.
- →There is no direct statement regarding fresh equity issuance or new debt funding plans for upcoming capex or operations.
- →Expansion projects, including aluminum wire rod plant, are being funded through internal accruals and planned capex of around ₹20-25 crore for Phase 1 and about ₹5 crore for Phase 2.
- →Management’s focus is on stable and sustainable cash flow generation to reduce dependence on external borrowing over the next 2 years.
📋 Order Book & Pipeline
Yes- →Baheti Recycling Industries Limited is heading into FY27 with a minimum order book of ₹200 crores.
- →This order book excludes orders related to the aluminum wire rod plant.
- →The company has recently started catering to OEMs with initial sales and repeated orders, e.g., 250 tons to Bajaj Auto, 150 tons to TVS Motor, and 100 tons to Royal Enfield.
- →The aluminum wire rod project is expected to start contributing from Q4 FY27, with margins and sales expected to grow significantly in FY28.
- →The company is optimistic about scaling up OEM business and expanding capacity utilization to 75-80% for existing lines and commissioning new wire rod capacities.
- →Discussions are ongoing with multiple customers for aluminum alloy wire rods in sectors like steel and cable manufacturing.
Key Metrics
Revenue
Rank 1
Margin
Rank 3
Capex
Yes
Fundraise
Yes
Order Book
Yes
Frequently Asked Questions
What were Baheti Recycling Industries Ltd Q4 FY26 results?
FY27 target: Approximately ₹1,000 crore revenue milestone with existing plant excluding aluminum wire rod sales. FY27 revenue expected around 1,000 crores from aluminum wire rod and existing operations.
What is Baheti Recycling Industries Ltd share price analysis?
Baheti Recycling Industries Ltd currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 29.2 with a market cap of ₹791 Cr. Investors should review the full earnings analysis for detailed insights.
Is Baheti Recycling Industries Ltd planning capital expenditure?
The company is planning additional capex for expanding capacity by 5,000-7,000 tons at the existing premises.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.