Bharat Wire Ropes Ltd Share Price

Bharat Wire Ropes Limited was incorporated as 'Bharat Ropes Private Limited' on July 24, 1986, at Mumbai, Maharashtra. The status of the Company got changed into a Public Limited Company and the name of the Company was changed to Bharat Ropes Limited on June 10, 1992 and again to Bharat Wire Ropes Limited w.e.f. July 5, 1996. Company is one of the largest manufacturers of Wire, Wire Ropes, Stranded Wires and Slings in India, with an increasing global presence, catering more than 50 countries globally. The company exports its varied products to USA, Singapore, Australia, South Africa, Kuwait, New Zealand, Vietnam, Bangladesh and Nepal. The existing steel wire ropes manufacturing facility with an installed capacity of 72,000 MTPA is located at Atgaon. The Company also has a Pyrolysis Plant with an installed capacity of 1,260 MTPA at Chalisgaon, Maharashtra for production of oil, which is used as fuel into the current manufacturing process. The Company is engaged in the business of production of Wire, Wire Ropes, Strands, and Slings. It has a diverse product mix which includes General Purpose Ropes, Fishing Ropes, Crane Ropes, Structural Ropes, Elevator Ropes, Mining Ropes, Oil & Gas Ropes & Shipping Ropes. The wire ropes, Slings, Spiral Strands are used in general engineering, fishing, elevators, cranes, material handling, power transmission, suspension bridges, onshore / offshore oil exploration, ports and shipping, mining, defence, railways and allied industries. The Company caters to a rich mix of clients ranging from Overseas Consumers, Private Players, Government and Semi - Government Organizations. Until year 2010, the Company was owned, managed and controlled by the Shah Group. Subsequently, in 2010, one of the Corporate Promoter, Gaji Mercantile Private Limited purchased 1,06,75,490 Equity Shares of the Company and accordingly, the management of the Company changed. The Company raised capital by issuing 1,55,55,555 Equity Shares through Public Issue aggregating Rs 70 Crore in March, 2016. In 2016, the Company started project for expansion of wire ropes manufacturing facilities 66,000 MTPA at Chalisgaon, in Dist. Jalgaon of Maharashtra, with estimated cost of Rs. 507.17 Crores. In 2022-23, the Company acquired 26.72% stake in MITCON Solar Alliance Limited (MSAL) and resulting the acquisition, MSAL became an Associate of the Company. .