The global copper market is projected to expand from 26.29 million tonnes in 2025 to 27.34 million tonnes in 2026 and 33.27 million tonnes by 2031, representing a CAGR of 4.01% during 2026-2031. Growth is being supported by structural electrification, renewable energy deployment and grid modernisation, placing sustained pressure on an already constrained supply pipeline. Over the longer term, refined copper demand is expected to reach 53 million tonnes by 2050, driven by urbanisation, infrastructure development and industrialisation, alongside increasing requirements from renewable energy systems, electric vehicles (EVs), charging infrastructure and Al-enabled data centres.
These global trends hold significant relevance for India, where copper has been identified as a critical mineral and is expected to play an important role in the countrys transition towards its Net Zero target by 2070. Copper will remain integral to economic development and the expansion of clean energy, EVs and digital infrastructure. At the same time, growing demand across both traditional and emerging applications is expected to further enhance its strategic importance. Meeting this demand will require reliable raw-material supply chains, continued investment in research and innovation, greater resource efficiency and a strong focus on environmental stewardship.
India is likely to become one of the worlds fastestgrowing markets for Al infrastructure and data centres during 2026-2035. Its comparative advantage will not initially be manufacturing the most advanced Al chips; it will be the combination of a vast domestic digital market, engineering talent, inexpensive software development, digital public infrastructure, expanding renewable energy and growing demand for local data processing.
The construction sector is projected to grow at a CAGR of approximately 17% through 2030 and 6% through 2047, supported by sustained infrastructure development and government programmes such as Pradhan Mantri Awas Yojana (PMAY) and the Smart Cities Mission.
Rapid expansion of renewable power generation and energy storage, electricity transmission and distribution networks, EV charging infrastructure and railway electrification is expected to support infrastructure-sector growth at a CAGR of approximately 12% through 2030 and 7% through 2047.
Rising industrialisation and investments in new plants, machinery and manufacturing capacity are expected to drive industrial-sector growth at a CAGR of approximately 7% through 2030 and 5% through 2047, creating sustained demand for copper-intensive applications.
Policies aimed at reducing carbon emissions and accelerating clean mobility are expected to support rapid EV adoption. The transportation sector is projected to grow at a CAGR of approximately 18% through 2030 and 11% through 2047, further strengthening demand for copper across EVs, charging networks and associated infrastructure.
Sources: https://mines.gov.in/admin/storage/ckeditor/Final_Copper_Vision_Document_20_1751560229.pdf
Indias accelerating electrification, infrastructure development and clean-energy transition are expected to drive sustained copper demand. Rising investments in renewable energy, grid modernisation, industrialisation, EVs, railway electrification, Al and data centres are creating multiple avenues for incremental demand. At the same time, constrained global supply and extended mining lead times are expected to support favourable demand-supply dynamics, creating opportunities for capacity expansion, product diversification and value-added copper solutions.
Bhagyanagar India Limited (BIL), incorporated in 1985 as the flagship company of the Surana Group, is one of Indias established manufacturers of copper and value-added copper products. With over four decades of experience, BIL combines innovation, technology and manufacturing expertise to deliver high-quality, customised solutions across diverse industries. BIL is the only manufacturer in India producing copper bus bars up to 300 mm in width, serving automotive, switchgear, transformer and other electrical industries across India and global markets. The Company also operates 9 MW of wind power capacity in Karnataka. Driven by customer focus, product excellence and continuous innovation, BIL is strengthening its position as a trusted partner across the copper value chain.
Bhagyanagar India is well positioned to benefit from Indias accelerating electrification, renewable-energy expansion, infrastructure development and EV adoption, which are expected to drive sustained demand for copper
across power, automotive, industrial and electrical applications. Increasing investments in transmission and distribution networks, railways, solar power, EV charging infrastructure, switchgear and transformers present opportunities to expand the Companys value-added product portfolio and deepen its relationships with OEMs and institutional customers.
The growing emphasis on domestic manufacturing and specialised copper applications further strengthens the opportunity landscape. Rising demand for customised and application-specific products, supported by the Companys capabilities in copper busbars, conductors and other value-added products, provides scope to improve product mix, enhance realisations and participate in emerging, high-growth applications.
The Company operates in a market exposed to copper price and foreign-exchange volatility, which can influence input costs, margins and working capital requirements. Supply-chain disruptions, geopolitical developments and fluctuations in raw-material availability may further affect costs and operational continuity. Intensifying competition, economic cyclicality and potential substitution by alternative materials such as aluminium could also exert pressure on pricing and demand. Maintaining cost competitiveness, product differentiation, operational efficiency and strong customer relationships will therefore remain critical to sustaining growth.
The Companys operations are exposed to key risks arising from copper price fluctuations and foreign-exchange movements. Changes in global and domestic copper prices can impact input costs, margins and working capital requirements, while foreign-exchange volatility may affect imported raw-material costs and other foreign-currency exposures. The Company continuously monitors these factors and undertakes appropriate measures to mitigate their potential impact.
A structured Risk Management framework is in place to identify, assess, monitor and mitigate key business and financial risks. Financial risks and the effectiveness of internal controls are overseen by the Audit Committee, while the Board of Directors is periodically apprised of significant risks and mitigation measures. This framework supports a proactive, disciplined and responsive approach to risk management.
Copper demand, traditionally regarded as a key indicator of economic and industrial activity, is expected to remain resilient, supported by Indias favourable economic growth outlook, electrification and infrastructure investments. Against this backdrop, the Company remains focused on strengthening its value-added product portfolio through phased investments over the next three to five years. Increasing the contribution of value-added products, introducing new product lines and developing application-led solutions are expected to enhance competitiveness and support margin improvement.
The Company also intends to leverage emerging opportunities in East Asia, the Middle East and North America to diversify its market presence and expand its customer base. Combined with portfolio enhancement, capacity development and a stronger focus on specialised applications, these initiatives are expected to support sustainable and profitable growth over the medium to long term.
The Company has adequate Internal Control Systems and Procedures with regard to purchase of Stores, Raw Materials including Components, Plant and Machinery, equipment, sale of goods and other assets. The company has clearly defined roles and responsibilities for all managerial positions and all operating parameters are monitored and controlled. The Company designs and maintains accounting and internal control systems to provide reasonable assurance at reasonable cost that assets are safeguarded against loss from unauthorized use or disposition, and that the financial records are reliable for preparing financial statements and maintaining accountability for assets.
The Company has an Internal Audit System commensurate with its size and nature of business. M/s Sekhar & Co., a firm of Chartered Accountants, are acting as Internal Auditors of the Company. Planned periodic reviews are carried out by Internal Audit. The findings of Internal Audit are reviewed by the top management and by the Audit Committee of the Board of Directors. Compliance with laws and regulations is also ensured and confirmed by the Internal Auditors of the Company. Standard operating procedures and guidelines are issued from time to time to support best practices for internal control.
The Equity Share Capital of the Company is Rs. 639.90 lakhs comprising of 3,19,95,000 equity shares of Rs.2/- each fully paid.
The Reserves and Surplus of the Company as on 31.03.2026 stand at Rs.25,115.74 lakhs as compared to Rs.20,098.59 lakhs in the previous year.
Net block of Fixed assets of the company stood as Rs.8,351.08 Lacs as on 31.03.2026 as against Rs.8,043.20 Lakhs in the previous year.
Inventories, as on 31st March, 2026, amounting to Rs. 23,012.49 Lakhs as against Rs. 15,732.77 lakhs in the previous year.
Sundry debtors increased to Rs.20,047.33 lakhs as on 31st March, 2026 as against Rs.14,591.92 lakhs in the previous year. These debtors are considered good and realizable.
Cash and Bank balances stood at Rs. 93.18 lakhs against Rs. 830.63 lakhs in the previous years which include margin money deposit and amounts deposited with banks as security.
Current Liabilities for the financial year ended 31.03.2026 is Rs. 32,857.17 lakhs as against Rs. 21,961.49 lakhs in the previous year.
During the year 2025-26, the consolidated turnover of the Company was Rs.2,37782.83 lakhs as compared to Rs.162,560.52 lakhs in the previous year.
The Income from other sources as on 31st March, 2026 was Rs.471.51 lakhs as compared to Rs.565.41 lakhs in the previous year.
The Company has provided a sum of Rs.738.42 lakhs towards depreciation for the year as against Rs.706.30 lakhs in the previous year.
The Company has provided a current tax of Rs.1,720.60 lakhs as against Rs.451.25 lakhs in the previous year.
The Net Profit of the Company after tax is Rs.5,017.15 lakhs as against Rs.1401.81 lakhs in the previous year.
The Earnings Per Share of the Company as on 31st March, 2026 is Rs.15.68/- per share for Face Value of Rs.2/- as against Rs.4.38/- per share for face value of Rs.2/- in the previous year.
The Company recognises that its growth and long-term success are closely linked to the skills, capabilities and commitment of its workforce. Accordingly, Bhagyanagar India Limited remains focused on attracting, developing and retaining talent across its operations, while strengthening employee capabilities through training and development initiatives. The Companys efforts are aimed at enhancing technical and functional competencies, improving performance and preparing employees to respond effectively to evolving business and operational requirements.
During the year, the Company continued to focus on skill development, operational excellence, workplace safety and employee engagement through relevant training and capability-building initiatives. These efforts support the Companys ability to strengthen its manufacturing capabilities and meet the evolving requirements of its customers. Industrial relations remained cordial and harmonious during the year.
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