Stocks To Buy: Antique says that this stock is 'wired' for up to 34% upside

Precision Wires India Ltd (PWIL) shares edged higher on Thursday after Antique Stock Broking initiated coverage on the company with a ‘buy’ rating, setting a target price of ₹281 — implying a potential upside of about 34% from the previous close.

Antique Stock Broking highlighted that PWIL, India’s largest copper winding wire manufacturer, is well placed to benefit from the rising demand across key sectors such as power transmission, renewable energy, railway electrification, data centres, and electric vehicles (EVs).

The increasing adoption of electric and hybrid vehicles — which use up to three times more copper winding wire than conventional vehicles — is expected to be a major long-term growth driver.

The brokerage noted that PWIL has already received approvals from leading EV and hybrid vehicle manufacturers, as well as major global compressor makers in the air conditioning segment, strengthening its presence in high-growth categories.

To bolster margins and ensure supply chain efficiency, PWIL is setting up a copper refining and recycling plant in Zaroli, Gujarat, expected to meet up to 35% of its raw material requirements once fully operational by FY28.

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This move towards backward integration, coupled with a rising share of premium products, is expected to lift the company’s EBITDA margin from 4.1% in FY25 to 6.5% by FY28.

Antique Stock Broking projects PWIL’s revenue, EBITDA, and profit to grow at a CAGR of 16%, 35%, and 38%, respectively, between FY25 and FY28, supported by a strong balance sheet and prudent execution.

At 1:51 PM, shares of Precision Wires India were trading at ₹211.41 on the NSE, up 1.14%, after hitting an intraday high of ₹215.15.