Panchmahal Steel emerges L1 bidder for SS wire supply order

Panchmahal Steel said that it has been declared the lowest bidder (L1) by Bharat Heavy Electricals (BHEL) for supply of stainless steel (SS) wire, as per the technical delivery conditions, to BHEL's Boiler Auxiliaries Plant at Ranipet, Tamil Nadu.

The company received the contract through the Government e-Marketplace (GeM) portal. The contract is valued at Rs 38.70 crore and is scheduled to completed as per the delivery schedule of the contract.

Panchmahal Steel is primarily engaged in the manufacturing of stainless steel long products. The company has a single-site setup?from steel melng, hot rolling and cold finishing, and is serving a comprehensive range of Stainless-Steel grades, in wire rods, bars & wires to crical sectors. These material are suitable for a wide range of applicaons in engineering, construcon, infrastructure, automove and railways, oil and gas, defense, energy, consumer durables, food processing and dairy industry, housing and pharmaceucals etc.

The company reported a consolidated net profit of Rs 4.33 crore in Q1 FY27 compared with net loss of Rs 1.92 crore in Q1 FY26. Revenue from operations increased 7.33% YoY to Rs 93.96 crore in Q1 FY27. \

The counter advanced 1.02% to settle at Rs 302.75 on the BSE.

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