Bansal Wire Industries Ltd (NSE: BANSALWIRE) Q3 2025 Earnings Call dated Jan. 30, 2025
Corporate Participants:
Pranav Bansal — MD and Chief Executive Officer
Ghanshyam Das Gujrati — Chief Financial Officer
Analysts:
Darshan Mankad — Analyst
Deep Mehta — Analyst
Naman Parmar — Analyst
Kuber Chauhan — Analyst
Veenit Pasad — Analyst
Jay Patel — Analyst
Depesh Kashyap — Analyst
Manav Jain — Analyst
Presentation:
Operator
Ladies and gentlemen, good day and welcome to the Q3 and 9 months FY25 conference call of Bansal Wire Industries Limited. From the management we have Mr. Pranav Bansal, MD and CEO and Mr. Gansham Gujarati, CFO to take the discussion forward. We also have an investor relations team from Ad Factors.
As a reminder, all participant lines will be in the listen only mode. And there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call please signal an operator by pressing star then zero on your touchtone phone.
I now hand the conference over to Mr. Darshan Mankar from AD Factors PR for opening remark.
Thank you. And over to you sir.
Darshan Mankad — Analyst
Thank you Sagar. Good afternoon everyone. We welcome you to the third quarter and nine months ended December 31st, 2024 earnings call of Bansal Wire Industries Limited. Before we begin the earnings call I would like to mention that some of the statements made during today’s call might be forward looking in nature and hence it may involve risks and uncertainties including those related to the future financial and operating performance. Please bear with us. If there is a call drop during the course of the conference call who would ensure the call is reconnected the soonest?
I will now hand over the call to Mr. Pranav Bantal MDN CEO for his opening comments. Over to you sir.
Pranav Bansal — MD and Chief Executive Officer
Yes. Thank you Darshan. Good afternoon everyone and welcome to the earnings call of the third quarter for this year. It’s a pleasure to connect you all. Connect with you all again as we share the progress and performance of Bansalwa Industries Ltd. I hope the new year has begun on a positive note for you and your families. On behalf of the entire Bansal family we we extend our best wishes.
I trust you’ve had a chance to review our results, press releases and the investor presentation which are available on the stock exchange and on our website. Joining me today on the call is our CFO Mr. Gansha Mujrathi who will take you through the financial in detail and answer your queries.
Just to give you a brief. The third quarter of FY25 has been in fact a landmark period for us. Showcasing exceptional performance driven by strong demand across our core sectors. Our unwavering commitment to innovation and sustainability continues to reinforce our market leadership as we remain ahead of our projections for the year till now.
This quarter also marked the commencement of production in our specialty wire vertical which has been a vertical behind which we’ve all been running for the last five years. Featuring high value added products like beadwire hose wire, steel tire cord and with the market opportunity to tap up to 4 lakh, 4 and a half lakh tonnes annually, we have successfully established a pilot project with an initial capacity of 50,000 tons. This strategic move positions us to capitalize on a growing demand while delivering superior quality solutions to our customers. We are confident that with this new capability we will further strengthen our market presence and unlock new good growth opportunities. As is already evident by the response we’ve received from our customers so far as in this area also, we are ahead of schedule and doing better than our expectations in in terms of both orders booking as well as product approvals.
Through commencement of the new products, the Dadri facility has achieved 30% capacity utilization already by December and remains on track to fully achieve commencement by the end of this year. While the total production capacity is set to reach 6 lakh tonnes, this expansion supports a long term growth ambitions. With this, we’ve already planned another phase of expansion in Daddari to take the capacity from 3.5 lakh tonnes to 4.2 lakh tonnes owing to the demand we are receiving from us.
Our export also accounted to about 250 crores till the end of Q3 as against 219 crores compared to the corresponding year. Underscoring strong international demand from our products and new product offering. As we approach the close of FY25, we remain optimistic about our growth trajectory. While challenges like fluctuating raw material prices and geopolitical risk persist, we see immense opportunity in both domestic as well as the export market. Our focus remains on operational excellency, quality and sustainability positioning us as a reliable partner in the India’s in India’s growth journey.
With that I will now hand over the call to our CFO Mr. Gansham to take you through the financial performance. Thank you.
Ghanshyam Das Gujrati — Chief Financial Officer
Thank you. Pranav sir. Good afternoon all. I would like to share the summary of third quarter and nine months financial performance with you. For quarter three financial 25, our revenue grew 53% year on year to rupees 925 ETA surge 99% y on y basis 273 crore and net profit for the quarter is to date rupees 42 crore which is up by 172% year on year basis.
For the nine month unused to date 2567 crore higher by 46%. EBITDA rose 99 to rupees 203 crores while net profit jumped 123% to rupees 113 crore. As our MD Mr. Panoj has mentioned we are committed and we continue to focus on our operational excellence, quality and sustainability and work on diversifying our product portfolio as well as enhance contribution from value added product to add our margin. We are happy to report that EBITDA and net profit margin for quarter three has expanded by 184%. 184 basis point and 198 basis point on year on year terms.
Now we are open for the forum for question and answer.
Questions and Answers:
Operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchstone phone. If you wish to withdraw yourself from the question queue you may press star and 2. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles.
The first question comes from the line of Deep Mehta from bank of India mutual fund. Please go ahead.
Deep Mehta
Hi sir. Thank you for the opportunity and congratulations for a very good set of numbers. First bookkeeping question sir. What was the volume for this quarter? And if you can help us with the volume number for the corresponding quarter of the last year on a like to like basis. Because we have also consolidated some of the group capacities.
Pranav Bansal
So sir, the volume numbers for this quarter was about 90 92,000 tons including low carbon mild steel as well as stainless steel. For the corresponding year last year. Mr. Gujarati, will you be able to give us the numbers?
Ghanshyam Das Gujrati
Yeah sir, it was around 60,000 last year.
Deep Mehta
Great. Sir, my second question is regarding the recent capacity expansion which you just announced for our dumpling. If you can help us with the quantum of the Capex timeline of the capex as well as the product mix for the incremental capex. And how are we looking at this?
Pranav Bansal
Sir, the total expansion that was already planned was about 500550 crores. Wherein we were installing the capacity of about 3 and a half lakh tons. Now we’ve increased that by about 20% to 420. This is owing to some demand that we are looking at different products that we’re looking at in different products from our customers. Therefore our investment will also increase by about 70, 80 crores in total.
Deep Mehta
And timeline for the sacrifice capacity. We will be able to do this within the first 2/4 of next year. Great sir. And just a clarification. This will be over and about the stainless steel backward integration which we are planning. Right. So this that will again take increase of capacity if you just lounge online.
Pranav Bansal
Absolutely.
Deep Mehta
Very clear. And my last question is regarding the value added products, what has been the progress our is the sale started? How has been the initial market feedback? And how should we look at his journey going ahead?
Pranav Bansal
So sir, we actually have done a little better than expected initially from the specialty wire vertical. Thanks to our customers we’ve gotten very good response. And in fact as we speak we are able to sell about 10010020 tonnes within this first month January. So therefore, I mean we are looking at expedited approvals especially for hose wire and similarly for steelcod also within this month we will be submitting samples to our customers. We remain ahead of schedule as of now for sampling as well as product.
Deep Mehta
That’s great to hear. So that’s all from my side. Thank you very much.
Operator
Thank you. The next question comes from Naman Parmar from Nivesha Investments. Please go ahead.
Naman Parmar
Yeah. Good afternoon sir. Thank you so much for the opportunity and congratulation on a good set of numbers. So firstly I wanted to understand that how much contribution has been from the different sector in the current quarter and nine months.
Deep Mehta
Sir, I do not have the numbers separately for all segments, but we can find that and give that to you later.
Naman Parmar
Okay. No, only you can tell how much majorly which sector has contributed.
Pranav Bansal
We do not disclose those numbers on a regular basis. Therefore I cannot give it to you right now, but we will send it to you later.
Naman Parmar
Yeah.
Pranav Bansal
Overall, all I can say is that low carbon, the mild steel segment has increased because of the consolidation as well. Even after that high carbon and stainless steel both are seeing good a better volume. The exact numbers we can discuss it.
Naman Parmar
Yeah. And secondly, I wanted to know that how you to hedge the prices of the raw material because your end product is majorly depend on the steel only.Correct? So if steel prices go up and down, so how it impact your margin here?
Pranav Bansal
What we try to do is we try to create a kind of a natural hedge in our business model wherein whatever orders we have, we already have either inventory or pending orders from our raw material suppliers. So therefore we try to keep about 70, 75% of our pending orders and stock booked against firm orders. So about 20, 25% of my total stock is the only stock that I carry with me as a risk which will increase and decrease as per the market situation.
Naman Parmar
Okay. So on the current business only you will be able to make a EBITDA of around 7 to 8% only with the increase in the value added product you expect how much margin expansion come here and how much value added product will be contributing.
Pranav Bansal
So sir, Our margin will change according to the raw material prices. So we have a kind of a cost plus model in which whatever increase and decrease there is in our raw material, we try to pass it on to the customers. Therefore, a percentage of margin would not be a very good way to track how we are doing. It would more be on EBITDA per ton.
Naman Parmar
Okay.
Pranav Bansal
And even in EBITDA per ton it keeps on differentiating because of the product mix that we have. So as far as margin is concerned, we look at more of rock than just absolute EBITDA percentage because it will keep on changing because of raw material prices.
Naman Parmar
Yeah. Understand. Yeah, it’s helpful. Thank you so much.
Operator
Thank you. The next question comes from Kuber Chauhan from Anandrati. Please go ahead.
Kuber Chauhan
Yeah, thank you for taking my question and congratulations on good set of numbers. A few questions from my side. So I just wanted to know that what has led to such a stupendous growth in our in this particular quarter and how do we foresee the demand in next couple of quarters? Number one.And as you said that you are going with an expansion mode, right? So what would be our asset turnover from the incremental capacity which will be installed?
Pranav Bansal
As far as asset turnover is concerned, what we can tell you is if you look at standalone dadri, the project it is we are installing about 5, 5 or 550 crores worth of equipment. So now maybe 600 crores for the 4 lakh 20,000 ton capacity that we will generate. And against that four 20,000 tons we should be able to do a revenue of about 3500 crores. So against 600 crore investment we should be able to do 3500 crore. As far as the current business or anything else, it again keep will depend on the kind of product that we are installing. As I said, our margins keep on varying depending on the product. Similarly the investment also keeps on varying. We have about 5,000 SKUs now in our product portfolio. For each SKU, the investment matrix or the inventory turnover and asset turnover.
Kuber Chauhan
Ookay. And any new products in our pipeline going ahead and how you are aiming to drive this next quarter and as well as.
Pranav Bansal
So even in this quarter, the third quarter we have seen a big jump in revenue as well as EBITDA pertaining majorly to the consolidation that has happened within our group. So now all group companies, everything, all sales have been consolidated within Bansalwa. Therefore you see this kind of a jump in this quarter which should remain there and we should only, you know, try to better it every Quarter.
Kuber Chauhan
And expiration for the 26th. Any kind of how much of top line or how much we are aiming for.
Pranav Bansal
So sir, as a company, I mean even in the last 10 years we’ve grown at 20, 25% on an average which is what we want to continue growing. With this we are also adding speciality wire vertical which is a new vertical and which is also one of our main focus areas. So you know against the 20, 25% now we have our existing products as well as specialty vertical to Bangkok.
Kuber Chauhan
So about the specialty of our Ve. So where these products are going applied majorly.
Pranav Bansal
These are products. The main product in speciality one vertical is a product that we call steel cord. Now steel cord is a product that. Well, we will be the first and the only Indian company to make this product. Till now this is used in tires and right now most of this product is being imported. So this is more of an import substitute which today, I mean the market size in India is about 2, 2 and a half lakh tons of which we are only started with 20,000 tons as a pilot project in which we’ve invested already 150 crores. There is a big potential here to grow.
Kuber Chauhan
Okay, so we are comparing to all the system, all the tire manufacturers or only certain specific of customer. I am assuming that depends of tires, radial as well as bias. So we are restricted to any particular segment or for everyone.
Pranav Bansal
There is no bias consumption here. This is only for radial tires whether it is TBR or PCR that is one. Second, we have only started this last month. Therefore there needs to be an approval process. A long approval process that we are waiting for till then what we are doing is from the same infrastructure. We are making something called bodwire which is also part of the specialty wire vertical which is used to manufacture hydraulic hose in which our numbers till now have been a little better or than expected. The response also has been better than expected.
Kuber Chauhan
And how much we are aiming to, I mean how much would be the contribution of this specialty via vertical from our top line?
Pranav Bansal
Right now the pilot project is of a capacity of 20,000 tons. Looking at the current market prices it should give us about 300 crores of revenue.
Kuber Chauhan
By when.
Pranav Bansal
Sir, this all depends on the approval process. So the approval process takes anywhere between nine months to two years. so it all depends on when and how we get an approval. But once we do ramp up is very quick. And even till that time we will still be still be making hosewire which is a byproduct with similar kind of a return ratio. We expect capacity utilization to be there, you know, very soon.
Kuber Chauhan
Okay, got it.
Operator
Thank you. Before we take the next question, a reminder to all the participants. You may press star in one to ask a question. The next question comes from Vineet Basad from Investec. Please go ahead.
Veenit Pasad
Hi, Good afternoon, Pranav. Hello. Am I audible?
Pranav Bansal
Yes.
Veenit Pasad
Okay. Good afternoon, Pranav. Pranav, my first question is if you can share any update on how, how are we seeing what are the timelines for stainless steel rod backward integration which we were planning to take, take up any progress on that front.
Pranav Bansal
So sir, in fact as we speak we are in the middle of processing payments for the land acquisition. We’ve already finalized the land in Sanand from gidc. So that’s in process. Within a week, I think we should have the possession of the land and apart from that, even the equipments, I mean, we are in daily touch with our manufacturers and we should be able to finalize some orders within the next two months. After this it will take us about 12 to 15 months to really establish it. 18 months. In fact, 15 to 18 months to really establish it and you know, start production.
Veenit Pasad
Okay. And was, was my understanding correct that we’ll place equipment orders in the next two months for this?
Pranav Bansal
Absolutely. So within this financial year we will try our best to finalize equipments in place orders so that after 18 months we should be able to start so anywhere in the middle of 27 or even if there is a couple of months here and there, within 27, at least we should be able to start production in full swing.
Veenit Pasad
Understood? Understood. And Pranav, second question on working capital, now we have, we, we had spoken about, you know, using something like bull discounting and other methodologies for discounting of our debtors, etc. Where are we on that front? Have we made any progress? We have not done anything as yet. We plan to start that soon. Any color on that?
Pranav Bansal
So I would say every one of us has been very focused on roc and it is a journey that we are on and I think we have made some good progress till now. We’ve already tied up a lot of limits, but we are not utilizing it yet because it is not required. But after the consolidation of Balaji and Bansal high carbon within Bansalwai, now we see that maybe next quarter or from Q1 of next year we will start utilization which will bring us debt level down as well.
Veenit Pasad
Understood? Understood. And Pranav, lastly, if you can share some light on, let’s say how’s been the demand trends for Us last month or maybe January or how are we seeing Q4 pan out? Number one. And number two, which are the sectors which are doing well? How has been the ordering from the customer’s end? Is it a case wherein we are facing some capacity challenges in terms of fulfilling or demand is relatively slower? If you can share any light on demand that will be helpful.
Pranav Bansal
So sir, I. I think it has been challenging for us in the last two, three years overall to be able to meet our customers demand earlier because of the delay in the Dandri project and now in the last three, four months because of not being able to produce enough product within Dalini. So although it is, it is being streamlined and now every day we see some good numbers. But yes, in the last quarter itself I would say all our sectors we had good demand, especially automotive even though in December there is generally a slowdown in our automotive. But we were able to grab a higher market share in a lot of products and get good order. So right now it is all about producing more because sales is not a challenge. So even in Q4 we see a good demand from our customers coming across all products, not just one, all high carbon stainless steel as well as low carbon, we see a good response.
Veenit Pasad
Perfect. Perfect, Perfect. Thank you so much Pranav. Thank you.
Pranav Bansal
Thank you.
Operator
Thank you. The next question comes from Jay Patel from Patel Equity. Please go ahead.
Jay Patel
Yeah. Hello Pranaji. So just wanted a clarification. You mentioned 150 crore capex for specialty wire. So is it for all the capex that we have done that is iit ot steam code and beadwire or it is only for steel code 150crores.
Pranav Bansal
So the 154oh capex that we have almost already done is only for steel cord. IHD oty is separate from that. In fact that is also a product that we have now we are now ahead of schedule. It was supposed to, we were supposed to start investment in ihty by mid of next year. But we have already placed some orders and we will hopefully do something within the first quarter.
Jay Patel
Okay. And since steel code it is more of an import substitute. But what about this ISTO 18B wire? Are there any domestic manufacturers or they are also import substitute?
Ghanshyam Das Gujrati
Beadwire it is almost all domestic. So we have I think three, four more manufacturers apart from us here in this product and similarly in IHC there is only one manufacturer that is Tata Wire. Otherwise this is all being imported and this is a product that is used in EV. So we see a very good demand in this particular product and which is the reason why we have actually expedited the ordering and the commissioning process.
Jay Patel
Okay. And margin changes. Products would also be more or less in line with steel code or they would be up or down.
Pranav Bansal
Sir, in ihty we are looking at similar kind of margins as Steelcore. But it is of course a smaller market, not as big as Steelhorn In Bidwa we are looking at general margins which we get in I cover. Nothing special.
Jay Patel
Oh, got it. And secondly, this Bigwell integration into SS load. So how would it affect our margins on quantum basis, how do we benefit?
Pranav Bansal
So here again we work on more of a conversion module. Even for stainless steel scrap it is more of a conversion module wherein our raw material will be scrapped and we will just add our processing cost and margin over and above that. Any increase and decrease as with the wire is passed on to the customers here as well. Here we are our own customers. So we do not see a big challenge in capacity utilization or order booking as far as margin is concerned. It will only help us here because we will be able to control our inventory and more of a processing cost kind of an advantage here. We will see even in.
Jay Patel
Got it. And next we are basically as you have been saying, we are a low margin business, right? Operating leverage is of utmost importance to us. But what I can’t understand is see having a D site, a very large site at a single location, it helps us in operating leverage side. But for backward integration we are going into Gujarat. And again for steel code you are looking at Bangalore. So this would increase your cost, right? So how do you view this?
Pranav Bansal
Sir, one good thing that has happened with Dadri is that we’ve understood that a small capacity somewhere is not viable after putting up the other
We feel that even that plant as compared to our existing smaller facilities there’s a very big difference in operational costs. Therefore from now on whatever investment we want to do, we do not want to scatter it into very different plants or areas. Therefore, the Gujarat and South expansion also is basically from that thought process because Even today about 25% of our sales comes from Gujarat. So by having a plant in Gujarat we are going closer to the market. And with that it will also help us in expanding in the wire business at a later date, wherein any product that we make in north we can also make in Gujarat and serve the best.
Similarly for steel cord, when we choose Bangalore, it is not only for steel cord but in the long run by we will also be able to enter in our general products within the South Market by having a manufacturing facility there. So this is the reason why we are choosing a different area. And for example by for backward integration the raw material anyway comes from the west. So even today even if I have a plant within the northern part of India, I still have to buy from west. So I’m only going towards my raw material source and towards 25% of the market. In south for steel cord. Also I am going only closer to the market so that I can save my transportation costs which is a big, which is a very big cost for us in across all products.
Jay Patel
Last one from my side is see in specialty wiring, hose wire as well as steel code, Chinese are a significant contributors to India’s import, right? And as you know they can be pretty aggressive with pricing so do you think once we have approvals in place for steel code, we can make Chinese in pricing?
Pranav Bansal
Sir, here another challenge in imports is this product does it comes on basically a steel packaging, a steel wheel. So what happens is any producer outside of India supplies it on a steel wheel, the customer in India consumes it and then they send the packaging back. So therefore there is twice the transportation cost that is involved which is a very, very big cost in for this kind of a product. So first, when we compete with China we will have this advantage of logistics cost because it is a domestic produce, we are a domestic producer. Second, even after that we have a 10% kind of a duty on this product which is something that we get a strange benefit from. Third thing, we are honestly not looking at selling this product at the Chinese price or competing with China directly. We are not, we are an alternate to China. So we, we are getting a better service. We are, we are closer to the customer. That is why we are, we would be able to charge a better price than the Chinese price in India. So a combination of all these three things, it makes us comfortable that yes, we will be able to compete with them and still earn a decent enough margin which is also evident by the current order book that we already have for Hosemeyer. The margins that we were expecting in Hosemeyer in our projections, we are getting, we are able to fetch a higher price even today from that.
Jay Patel
Got it. Thank you. Thank you for the elaborate answers and all the best.
Pranav Bansal
Thank you.
Operator
Thank you. The next question comes from Dipesh Kashya from Invesco Mutual Funds. Please go ahead.
Depesh Kashyap
Yeah, hi Pranav, thanks for taking my questions. So to begin with, can you just give a split of the high carbon, low carbon and the stainless steel volumes for this quarter please?
Pranav Bansal
Sir, we, we are not Making the details on a regular basis. We. We generally only track total volumes. But for the split volume we can definitely send it to you later.
Depesh Kashyap
Sure. And so just want to understand this. Your other two companies, right, the Balaji Wire and your Bansal High Garban, has that. Has that been closed and your volume shifted to your domain entity or still not.
Pranav Bansal
Sir. The volumes have completely shifted. By completely, what I mean is about 95, 98 kind of a revenue has been shifted 2 or 3%, 5% revenue is left with those two companies due to some product approvals which will shift very soon.
Depesh Kashyap
As if this happened when? In this quarter only or the last quarter also.
Pranav Bansal
In the third quarter. The majority of shift happened in the third quarter. But we had already shifted some volumes in Q1, some volume, some additional volumes in Q2 and the final volumes have been shifted in Q3.
Depesh Kashyap
Okay. No sir, so last quarter you did around 80000 tons, right? And this quarter 92000 tons. So just wanted to understand how much will be because of this shift and how much will be the actual volumes that you have seen outside, if you can give some color on that about.
Pranav Bansal
So yes, you are absolutely right. So you will see about the 25% kind of a.25, 30 kind of a growth here in which I would say most of it has come because of consolidation. So about 10, 15 is the volume increase that we have done quarter on quarter.
Depesh Kashyap
No. Yes, 15% is a volume increase that you’ve done. But it may something will be due to the consolidation and something will be due to actual volume growth. 31st have seen.Right. So if you can just give a color.
Pranav Bansal
, sir, we will have to give that to you later.
Depesh Kashyap
Okay, got it. And then how much of the Dadri capacity has been operationalized and what is the utilization that you’re running on by now?
Pranav Bansal
We have now touched about 30% kind of a utilization level internally.
Depesh Kashyap
And so capacity is how much right now?
Pranav Bansal
Sir, the capacity, I would say about 80% of our capacity has already been commissioned and the balance is also being commissioning within the next two months. We should be able to commission the complete three and a half left on capacity.
Depesh Kashyap
Okay, so 80% of 3.5 you have already commissioned and rest will be happening in this quarter and then your exposure is running to 4.2. That will happen over the next six months, right?
Pranav Bansal
Yes, absolutely.
Depesh Kashyap
Okay, got it. And you also highlighted that you started selling the the specialty steel wires in the month of January. Can you tell what is a bit of a trend? Trends like how different it is from the existing numbers that you have in those specialty wires.
Pranav Bansal
I would say it is fairly different from the existing trend that we have. Because right now the product mix that we have is more of high volume and low valuation. Whereas steel COD or hose wire is completely different. So for the exact numbers we will have to take it out. But in general I would say any projections that we had for specialty wire, the margins have been a little better already.
Depesh Kashyap
Okay. Okay, understood. And then lastly I think recently you have created a subsidiary of Bwil Steel Private Limited. Right? So what is the use of that? Have you created a separate subsidiary?
Pranav Bansal
The bwi? BWI Steel is the company that will do the backward integration for us in Gujarat. That company is already in process of buying land. And there after we will start investment in fixed assets as well.
Depesh Kashyap
Understood. Thank you. All the best. Yeah.
Darshan Mankad
Thank you sir.
Operator
Thank you. The next question comes from Manav Jain from SP Capital. Please go ahead.
Manav Jain
Yeah. Hi. Thank you for the opportunity. So my question was regarding the steel quartz product. So since you said this is an import product my question is why hasn’t any other Indian company, you know went into this segment and into this product in the past and will they ever venture into this product segment in the future?
Pranav Bansal
Sir, there are some definite challenges that we see for a company entering this product because it is definitely, I would say one of the highest technical products that we have in our industry, therefore you need the right set of people, the right set of technology and process and that culture which we already have being in this industry for the last 85 years. For technology also we tied up with some good companies wherein we are able to get the right product made. Definitely one process and the second is of course a long approval process from the customer.
Manav Jain
So what is the current market share for this product? Any thoughts?
Pranav Bansal
We had only started last month. Our samples have already been made. We are a little ahead of schedule in terms of sampling as well as in terms of actually realizing sale from the quality has come out perfectly well. It is acceptable in the market. And this is the reason why we are getting a better than expected response from.
Manav Jain
Got it. All right. And I have a question on the margin side. So from this high. So the specialty products have a high margin base. So what, what are you. What are your expectations when this high margin product get consolidated with your other wire products?
Pranav Bansal
So sir, here the revenue potential of this product for us right now is about. About 300 crore, in which if you look at the current prices or the prices that were prevailing in the market till now, it has been about 20, 25%, kind of an EBITDA that we look at, which is fairly different from our current current numbers.
Manav Jain
Okay, that’s all from my side. Thank you so much for now.
Operator
Thank you. Before we take the next question, a reminder to all the participants. You may press Star in one to ask a question. The next question comes from Ananya Nichani, an individual investor. Please go ahead. Ananya Nijani, your line is unmuted. Please proceed with your question. As there is no response from the line of current participants, we’ll move on to the next question. Participants, you may press Star and one to ask a question. As there are no further questions from the line of the participants. I now hand the conference over to Mr. Pranav Bansal for closing comments.
Pranav Bansal
Thank you everyone for attending the investor call. It was great to speak to all of you guys again. I hope we have answered all your queries. And for the queries that we have not answered, we will try and send you all the details as soon as possible. Thank you again.
Operator
Thank you on behalf of Bansal Wire Industries Ltd that concludes this conference. Thank you for queries. You can connect with Ed Factors team. Thank you.