Geekay Wires Ltd Management Discussions

1. INDUSTRYS STRUCTURE AND DEVELOPMENTS

Geekay Wires Limited is an ISO 9001:2015 company, located at Hyderabad, engaged in manufacturing of niche quality Galvanized Steel Wires which find applications in Power Transmission, Cable & Conductor, General Engineering, Construction etc. Today with robust infrastructure & testing facilities we are in the preferred-vendor list of PGCIL and in almost all State Transmission & Distribution Companies, Electrical Contractors, corporate engaged in turnkey business of creating infrastructure for Power Transmission & Distribution, Cable & Conductor Manufacturing, etc. Our products are not only accepted in India but we have received accolades from overseas customers also. The company has the following major products and it also holds BIS License for most of these.

The Company has an installed capacity of 35,000 MTS P.A of Galvanized Steel Wires in various grades & sizes, 25,000 MTS PA of Nails & 10,000 MTS PA of Stainless Steel Nuts & Bolts for manufacturing of the above products.

2. GLOBAL & DOMESTIC OVERVIEW

The global economy remained resilient during FY 2025-26 despite continued geopolitical uncertainties, evolving trade policies, supply chain realignments and financial market volatility. According to the International Monetary Fund (IMF), global economic growth is projected at 3.0% in 2026, with an improvement to 3.4% in 2027, supported by easing inflation, stable labour markets and increasing investments in technology and infrastructure. However, elevated geopolitical tensions, trade disruptions and commodity price volatility continue to pose risks to the global growth outlook.

India continued to be one of the fastest-growing major economies, driven by robust domestic demand, sustained public capital expenditure, rapid urbanisation and strong policy support for infrastructure development. Government initiatives in power transmission, renewable energy, railways, roads, housing, logistics and industrial corridors continued to create significant demand for steel wire products, fasteners and industrial components across various end-user industries.

The steel wire, nails and fasteners industry witnessed steady demand during the year, supported by continued investments in power transmission & distribution networks, commercial and residential construction, renewable energy projects, manufacturing, warehousing and industrial infrastructure. Increasing emphasis on product quality, adherence to global standards and localisation of supply chains has further strengthened the competitive position of organised manufacturers.

The Governments continued focus on initiatives such as Make in India, National Infrastructure Pipeline (NIP), PM Gati Shakti, renewable energy expansion and manufacturing-led growth is expected to generate sustained demand for galvanized steel wires, transmission products, fencing solutions, industrial fasteners and construction-related products over the medium to long term.

Against this backdrop, Geekay Wires Limited remains well positioned to capitalize on emerging opportunities through its diversified product portfolio comprising galvanized steel wires, steel nails, stainless steel fasteners and fencing products catering to the power transmission, infrastructure, construction, engineering and industrial sectors. The Companys established manufacturing capabilities, stringent quality standards, in-house testing facilities, expanding export presence and long-standing relationships with customers continue to strengthen its competitive advantage in both domestic and international markets. The Company exports to several countries and serves sectors including power transmission, construction, automotive, renewable energy and general engineering.

Looking ahead, while global macroeconomic uncertainties may continue to influence input costs and international trade, sustained infrastructure investments, increasing industrialisation and growing demand for quality engineered products are expected to provide favourable growth opportunities for the Company. With its focus on operational excellence, product innovation, quality assurance and customer satisfaction, Geekay Wires Limited is well positioned to achieve sustainable long-term growth.

According to industry estimates, domestic steel demand is expected to grow by around 9-10% during FY 2026-27, supported by the Governments continued focus on infrastructure development and increased capital expenditure across roads, railways, power transmission, renewable energy, housing and industrial projects. The gradual revival of private capital expenditure and sustained growth in manufacturing are also expected to contribute to higher steel consumption. These developments are expected to create favourable demand for value-added steel products, including galvanized wires, steel nails, fasteners and fencing solutions, thereby providing growth opportunities for companies such as Geekay Wires Limited.

According to ICRA, the Indian construction sector is expected to witness 6 8% revenue growth in FY 2026-

27, supported by a healthy order book, sustained Government capital expenditure and improving execution across infrastructure projects. Continued investments in roads, railways, metro rail, airports, urban infrastructure, industrial corridors and affordable housing are expected to drive construction activity. The Union Budgets continued emphasis on infrastructure development and the gradual revival in private sector investments are likely to provide long-term growth momentum to the sector. These factors are expected to generate sustained demand for steel and value-added steel products used in construction and infrastructure projects.

Indias electricity demand is expected to grow by around 5% in FY 2026-27, supported by increasing industrial activity, urbanisation, higher commercial consumption and expanding renewable energy capacity. Significant investments in transmission networks, grid modernisation and renewable energy integration are expected to create sustained demand for galvanized steel wires, transmission accessories and related products. The sector is expected to benefit from the Governments continued focus on energy security, power infrastructure expansion and clean energy initiatives, thereby offering long-term growth opportunities for companies catering to the power value chain.

The India industrial fasteners market is projected to witness a CAGR of approximately 6.3% during the forecast period FY2026 FY2033, expanding from an estimated market size of USD 6.08 billion in FY2025 to around USD 10.04 billion by FY2033. The market growth is expected to be driven by increasing infrastructure and construction activities, rising automotive production, expansion of industrial manufacturing, renewable energy projects and continued Government initiatives such as Make in India and Atmanirbhar Bharat. These factors are expected to sustain demand for high-quality industrial fasteners across automotive, construction, engineering, power and other industrial sectors.

Increased demand in India, USA, Europe and developing countries.

Increasing Investments:

Consolidation of players leading to investment by entities from other sectors and global entry.

-Policy Support:

Implementation of Production-Linked Incentive (PLI) scheme for approved speciality steel.

-Capital and labour intensive industry nature.

-Logistic Hurdles and international / local slowdowns.

-High inflation impacting input costs and raw material supply disruptions.

Your Company has segments of revenue. Audited financial results of the segments are furnished in Note 22 of Notes forming part of the Financial Statement.

The Company has put in place a Risk Management Policy and Procedures for identification, assessment, management, monitoring and minimization of risks. It has identified potential risks under various categories like Business, Operations, Liquidity, Market, Industry, Human Resources and Systems. The management does not perceive any major technological, operational, financial or environmental risks in the near future and its impact on the global economy.

Your Company has adequate internal control systems combined with delegation of powers and periodical review of the process. The control system is also supported by internal audits and management reviews of documented policies and procedures.

The Companys Industrial relations at all levels remained cordial throughout the year.

This report contains several forward-looking statements that involve risks and uncertainties, including, but not limited to, risks inherent in Geekay Wires growth strategy, acquisition plans, dependence on certain businesses, dependence on availability of qualified and trained manpower, economic conditions, government policies and other factors. Actual results, performances or achievements could differ materially from those expressed or implied such forward-looking statements. This report should be read in conjunction with the financial statements include herein and the notes thereto for & on behalf of the Board of Directors.

The Financial Statements have been prepared in accordance with Indian Accounting Standards (IND-AS) as per the Companies (Indian Accounting Standards) Rules, 2015 notified under Section 133 and other relevant provisions of the Act.