D.P. Wires Ltd.

•

dpwires.co.inBSE: 543962NSE: DPWIRES

Market Cap₹ 239 Cr.

Current Price

High / Low₹ 307 / 125

Stock P/E12.7

Book Value₹ 175

Price to Book1.22

Dividend Yield0.00 %

ROCE12.5 %

ROE9.4 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Wire: 69.6% • Trading: 30.3% • Power: 0.1%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 23.0%
Latest quarter profit grew 31.8% YoY, showing strong momentum
Company has delivered good sales growth of 16.9% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.21x)
Company comfortably covers its interest (21.8x coverage)
Working capital cycle has improved - days down from 70 to 54

CONS

A large part of profit comes from other income (29.7% of PBT)
Company has delivered a poor profit growth of 5.9% over past five years
Growth is decelerating - 3Y profit CAGR (-8.6%) trails the 5Y trend (5.9%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	JSWSTEEL	1309.00	12.92	320109.92	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.65	20.78	229258.67	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	196.00	18.95	80958.30	1.20	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2646.15	30.23	69802.96	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	737.80	18.72	60825.68	0.54	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2151.00	48.59	59724.32	0.40	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1081.75	26.88	30195.09	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	310.70	30.41	19869.52	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2666.75	43.18	18691.78	0.38	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	506.95	15.81	17863.97	0.39	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	239.75	20.01	16140.90	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	DPWIRES	154.00	12.75	238.71	0.00	4.74	31.75	130.57	3.68	12.49	2.93

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	266	273	252	209	183	145	154	138	126	130	95	129	131
	250	263	245	195	173	139	149	133	122	130	92	120	127
Operating Profit	16	10	7	13	10	6	5	5	4	0	3	10	3
OPM %	5.90%	3.70%	2.90%	6.47%	5.43%	3.98%	3.30%	3.50%	2.87%	0.02%	3.63%	7.38%	2.42%
	1	4	3	1	1	3	3	2	2	3	2	4	3
Interest	1	1	1	0	0	0	0	1	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	0	0
Profit before Tax	15	12	9	13	10	8	7	6	5	2	4	13	6
Tax %	25.19%	25.49%	26.34%	25.36%	24.87%	22.12%	27.49%	30.82%	26.23%	29.59%	21.48%	27.82%	25.42%
Net Profit	11	9	6	10	7	6	5	4	4	1	3	9	5
	7.17	6.68	4.08	6.34	4.64	3.89	3.20	2.60	2.32	0.77	2.19	6.06	3.06

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	159	196	208	332	284	467	613	1,216	1,003	621	485
	154	186	191	306	261	434	573	1,161	953	595	469
Operating Profit	6	11	17	26	23	33	41	55	50	26	16
OPM %	3.70%	5.37%	8.39%	7.75%	8.21%	7.11%	6.63%	4.56%	5.03%	4.24%	3.33%
	1	1	0	3	2	3	3	5	5	9	12
Interest	2	3	2	2	1	1	2	2	3	1	1
Depreciation	1	1	1	2	2	2	2	3	4	4	2
Profit before Tax	3	7	15	24	22	32	39	55	49	30	25
Tax %	23.67%	28.62%	34.20%	28.28%	25.04%	25.71%	25.13%	25.87%	25.52%	25.92%	26.26%
Net Profit	2	5	10	17	17	24	29	41	36	22	19
EPS	1.97	5.03	8.28	12.84	12.30	17.75	21.41	26.46	23.43	14.33	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.67%	3.97%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 16%
5 Years:: 17%
3 Years:: 0%

COMPOUNDED PROFIT GROWTH

10 Years:: 30%
5 Years:: 6%
3 Years:: -9%

STOCK PRICE CAGR

10 Years:: —
5 Years:: -4%
3 Years:: -36%
1 Year:: -38%

RETURN ON EQUITY

10 Years:: 19%
5 Years:: 19%
3 Years:: 17%
Last Year:: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	2	2	14	14	14	14	14	14	16	16
	20	25	51	68	85	109	138	178	211	233
	24	30	6	23	3	8	13	2	1	28
Trade Payables	17	15	6	9	10	4	9	22	21	8
	5	8	19	8	13	19	22	36	14	14
Total Liabilities	68	81	96	122	125	154	196	251	262	298
	8	8	8	10	12	11	16	20	21	18
Capital Work in Progress	0	0	0	3	0	0	0	0	0	0
	0	0	0	0	0	0	0	0	0	2
	16	26	25	30	25	25	47	50	28	28
	0	0	0	0	0	0	0	0	98	62
Cash & Bank	4	2	3	2	13	5	8	33	47	4
	41	46	61	77	76	112	124	148	68	183
Total Assets	68	81	96	122	125	154	196	251	262	298

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-1	4	-7	5	43	-3	14	58	24	52
Cash from Investing	-3	0	-3	-9	-17	12	-5	-6	-4	-120
Cash from Financing	6	-2	15	14	-21	4	3	-15	-6	25
	1	-0	-0	-0	0	3	3	25	13	-43

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	8.76	20.12	7.24	12.84	12.30	17.75	21.41	30.23	23.43	14.33
Book Value (₹)	91.51	111.73	47.61	60.45	72.68	90.41	111.87	141.12	145.93	160.27
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	1.00	1.20	0.00	0.00
Cash EPS (₹)	3.02	5.70	7.22	12.25	12.03	16.96	20.33	28.69	26.04	16.77
PROFITABILITY
Operating Margin %	3.71%	5.19%	8.39%	8.50%	9.01%	7.66%	7.08%	5.00%	5.03%	4.24%
Net Margin %	1.24%	2.31%	4.61%	5.25%	5.88%	5.16%	4.74%	3.37%	3.62%	3.58%
ROE %	10.05%	19.80%	21.25%	23.77%	18.48%	21.76%	21.17%	23.90%	17.39%	9.36%
ROCE %	14.04%	18.67%	25.57%	30.39%	22.92%	28.88%	27.75%	32.03%	24.60%	12.49%
	3.68%	6.70%	11.06%	15.98%	13.52%	17.27%	16.63%	18.34%	14.15%	7.92%
EFFICIENCY
Debtor Days	53	48	49	40	59	43	45	26	34	47
Inventory Days	27	35	44	30	35	20	22	15	14	17
Payable Days	51	38	25	11	16	7	5	5	9	10
	30	46	68	59	78	55	61	35	39	54
FINANCIAL HEALTH
Debt to Equity (x)	1.04x	1.09x	0.10x	0.27x	0.03x	0.06x	0.09x	0.01x	0.00x	0.11x
Interest Coverage (x)	2.19x	3.55x	10.43x	11.41x	17.54x	30.55x	19.26x	28.49x	17.59x	21.84x
	1.83x	1.82x	3.04x	2.80x	4.22x	4.66x	4.01x	3.69x	6.43x	2.84x
GROWTH
Revenue Growth %	15.56%	23.16%	5.97%	59.38%	-14.40%	64.42%	31.39%	98.29%	-17.51%	-38.10%
Operating Profit Growth %	30.08%	72.54%	58.69%	57.63%	-9.34%	39.74%	21.47%	40.10%	-8.32%	-36.86%
Net Profit Growth %	30.59%	129.80%	95.63%	77.30%	-4.20%	44.26%	20.66%	41.17%	-11.46%	-38.86%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-22.49%	-38.86%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	18.14x	13.59x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.91x	1.22x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	10.99x	9.25x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.78	74.78	74.78	74.78	74.78	74.78	74.78	74.78	74.78
	0.00	0.00	0.00	0.09	0.00	0.05	0.00	0.01	0.00
	0.00	0.00	0.00	0.01	0.03	0.03	0.03	0.03	0.04
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.22	25.22	25.22	25.11	25.19	25.15	25.19	25.18	25.17

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-17

Copy of Newspaper Publication

2026-08-17 - D P Wires Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14

Outcome of Board Meeting

2026-08-14 - D P Wires Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-18

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-18 - D P Wires Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-07

Reply to Clarification- Financial results

2026-07-07 - The Exchange had sought clarification from D P Wires Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.

2026-06-27

Clarification - Financial Results

2026-06-27 - The Exchange has sought clarification from D P Wires Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-06-22

Trading Window

2026-06-22 - D P Wires Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-01

Copy of Newspaper Publication

2026-06-01 - D P Wires Limited has informed the Exchange about Copy of Newspaper Publication

2026-06-01

General Updates

2026-06-01 - D P Wires Limited has informed the Exchange about General Updates

2026-05-30

Outcome of Board Meeting

2026-05-30 - D P Wires Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.

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