Precision Wires India Approves Dividend, Secures Rs. 350 Crore Facility, and Updates Corporate Governance
Precision Wires India Limited announced key corporate and financial approvals following its Board of Directors meeting held on May 23, 2026. The board reviewed the audited financial results for the quarter and the year ending March 31, 2026, and approved the declaration of a final dividend. The company also finalized new working capital arrangements, including the induction of a fourth secured lender.Financial Results and Dividend Declaration
The board reviewed and approved the audited financial results of the company for the quarter and the year ended March 31, 2026. In a significant move, the company declared a Final Dividend of 55% on fully paid equity shares of Rs. 1/- each. This dividend is payable to members within 30 days of approval at the ensuing Annual General Meeting.The company’s financial performance shows strong growth, with Total Revenue reaching Rs. 5,46,343.14 Lakhs for the year ending March 31, 2026, up from Rs. 4,03,562.07 Lakhs in the previous year.
A comparative summary of key annual figures for the standalone results is provided below (in Lakhs):
| Metric | Year Ended March 31, 2026 | Year Ended March 31, 2025 |
|---|---|---|
| Total Revenue | 5,46,343.14 | 4,03,562.07 |
| Profit Before Tax | 20,909.00 | 12,037.03 |
| Total Assets | 2,24,921.30 | 1,25,397.42 |
Banking and Working Capital Enhancements
The board greenlit two major financial arrangements to support the company's operations:1. The company will receive an Unsecured Working Capital Facility of Rs. 190 Crores from RBL Limited.
2. Axis Bank Limited is inducted as the fourth secured lender, providing a Secured Working Capital Facility of Rs. 350 Crores.
Corporate Governance and Appointments
The board meeting addressed several governance and structural updates:- Auditors: M/s Kailash Chand Jain & Co. was re-appointed as the Internal Auditors for the Financial year 2026-27. M/s Gangan & Co. was re-appointed as the Cost Auditors for the Financial year 2026-27.
- Key Personnel: Mrs. Krina Parekh was re-appointed as the Chief Financial Officer, effective from the 37th Annual General Meeting of the Company.
- Memorandum and Articles Changes: The company approved changes to its corporate structure, including the addition of two sub-clauses under the Main Objects clause in the Memorandum of Association. Additionally, Clause 12 (a) of the Article of Association was modified to align with SEBI ICDR Regulations concerning further issues of capital.
Financial Position Snapshot (As of March 31, 2026)
The company’s balance sheet shows a significant increase in its total assets and equity and liabilities. The following table summarizes the key financial positions (in Lakhs):| Components | As at 31.03.2026 | As at 31.03.2025 |
|---|---|---|
| TOTAL ASSETS | 2,24,921.30 | 1,25,397.42 |
| Equity Share Capital | 1,828.16 | 1,786.66 |
| Other Equity | 75,406.04 | 55,837.28 |
| TOTAL EQUITY AND LIABILITIES | 2,24,921.30 | 1,25,397.42 |
PRECWIRE Stock Price Movement
On Friday, Precision Wires India Limited shares edged higher to close at ₹415.15, rallying 4.71% for the session. The stock saw significant investor interest throughout the day, concluding the trading period on a total volume of 615,551 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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