Bhagyanagar

What Bhagyanagar does

Bhagyanagar India Limited is an India-based, publicly listed copper products manufacturer (NSE: BHIL; BSE: 512296) founded in 1985 and headquartered in Secunderabad, with manufacturing operations in Hyderabad, Telangana. The company produces a broad portfolio of copper and copper-alloy components — bus bars (up to 300 mm width, 99.90% purity, 900 MT/month capacity), wires and rods (1.1–100 mm diameter, ≥100 IACS conductivity), foils and sheets, paper-insulated conductors (PICC), OFC nuggets (99.995% purity via upcast process), copper tubes via the UPCAST process, enameled strips and wires, and continuous transpose conductors (CTC) — alongside complementary solar absorbers, flat plate collectors, solar interconnect ribbons, automotive yoke assemblies, solenoid switches, field coils, commutators, submersible wires, and heating elements.

Its core technology stack is rooted in metallurgical manufacturing: UPCAST continuous casting, rolling, and extrusion, with specialty coatings such as NALSUN black-chromium solar-selective coating licensed from India's National Aerospace Laboratories (in operation since 2006). Inputs are sourced from major Indian cathode producers Hindalco and Sterlite, supporting ISO 9001:2015-certified production. Marquee customers include Lucas TVS, Prestolite Electric India, HBL, V-Guard, and Reil, spanning switchgear, transformer, automotive, solar, telecom, railway, defense, and infrastructure OEM supply chains.

Commercially, the company operates a B2B enterprise field-sales motion, quoting custom-built copper products to OEM specifications under multi-year contracts. FY 2025-26 revenue was INR 23,778 million (46% YoY growth) with PAT of INR 964 million (258% YoY), 22% ROE and 20% ROCE; the company targets INR 5,000 crore in revenue and 45,000 MT of capacity by FY 2029-30, supported by a board-approved INR 522.5 million equity raise and the NCLT-admitted demerger of its copper business into Tieramet Limited. An acquisition of Crescentia Technology was completed in March 2025, and the company remains family-controlled under the Surana family with three generations of leadership.

Name

Bhagyanagar

Legal name

Bhagyanagar India Limited

Website

https://bhagyanagarindia.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bhagyanagar India Limited is a publicly listed Indian copper products manufacturer founded in 1985, supplying bus bars, wires, rods, foils, tubes, OFC nuggets, and insulated conductors to industrial OEMs across electrical, automotive, solar, telecom, railway, defense, and infrastructure sectors.

Ownership category

akta.pro rank

Product category

Industrial Copper Products Manufacturing

NAICS

Copper Rolling, Drawing, Extruding, and Alloying (331420), Electrical Equipment Manufacturing (33531), Other Electrical Equipment and Component Manufacturing (3359)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electronic Components & Accessories (3670), Sheet Metal Work (3444)

akta.pro primary industry

Current Collectors & Foils (Copper, Aluminum) Manufacturing (EUAFABAF)

akta.pro secondary industries

Wiring Devices & Receptacles (switches, sockets, plugs, industrial outlets, pin & sleeve) (IMAGAEAF), Renewable Manufacturing Materials & Subcomponents (Glass, EVA/Backsheet, Composites, Magnets) (EUAMAHAL)

Keywords

• Copper manufacturing
• Copper bus bars
• Copper conductors
• Copper wire rods
• Solar thermal collectors

Headquarters

HQ city

Secunderabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Copper Product Sales: Manufacture and sale of copper products including bus bars, wires, rods, foils, sheets, tubes, enameled strips/wires, CTC conductors, and specialty copper components to industrial OEMs.
2. Solar Products: Solar flat plate collectors, solar absorber fins, and solar interconnect wires for solar water heating and photovoltaic applications.
3. Automotive Components: Yoke assemblies and solenoid switches for automotive starter motors, supplying major automotive electrical component manufacturers.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Bhagyanagar India Limited manufactures and sells copper products including bus bars, wires, rods, foils, sheets, tubes, oxygen-free copper (OFC) nuggets, paper-insulated copper conductors (PICC), enameled strips/wires, and continuous transpose conductors (CTC). The company also produces complementary solar thermal products (flat plate collectors, absorber fins, interconnect wires) and automotive electrical components (yoke assemblies, solenoid switches, field coils, armature pins, commutators). Products are custom-manufactured to OEM specifications for power distribution, transformers, motors, automotive, telecommunications, and renewable energy industries.

Product overview

Bhagyanagar India Limited is a copper manufacturing company offering a comprehensive portfolio of copper products and solar/automotive components. The core product line includes copper bus bars, wires and rods, foils and sheets, insulated conductors (PICC), nuggets, tubes and pipes, enameled strips and wires, and continuous transpose conductors (CTC). The company also produces complementary products including solar flat plate collectors, solar fins, solar interconnect wires, field coils and armature pins, commutators, submersible wires, and heating elements. All copper products are manufactured at the Hyderabad facility using advanced casting, rolling, and extrusion processes, with the company claiming to be the only manufacturer of copper bus bars up to 300 mm width in India. The products serve power distribution, transformers, motors, generators, telecommunications, infrastructure, electronics, and solar energy sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Bus Bars Rectangular copper bus bars manufactured from OFC and ETP grades with cross sections up to 15,000 mm², widths up to 300 mm, and thickness up to 50 mm, with minimum 99.90% copper content and 100% conductivity rating. Produced at 900 MT per month capacity for switchgear, transformer, and power distribution OEMs.
• Copper Wires and Rods Copper wires and rods with minimum 100 IACS conductivity rating, diameters from 1.1 mm to 100 mm, featuring exceptional electrical conductivity, closed dimensional tolerances, and fine surface quality for industrial applications.
• Copper Foils and Sheets Precision copper foils and sheets with widths from 15mm to 150mm and thicknesses from 0.100mm to 3mm, manufactured using 99.90% pure copper cathodes from Hindalco and Sterlite.
• Paper Insulated Copper Conductor (PICC) Paper/polyester insulated copper conductors for transformers and electrical machinery, available as strips (3mm-16mm width, 1.2mm-6mm thickness) and wires (1.2mm-2.5mm diameter), insulated with Thermokraft IEC 554-2 and Nomex T-410 materials.
• Copper Nugget (OFC) Oxygen-Free Copper (OFC) nuggets for electroplating with 99.995% copper purity, manufactured using the upcast process, available in cylindrical, sphere, and ball shapes with diameters from 8mm to 55mm.
• Copper Tubes and Pipes High-quality copper tubes produced via UPCAST process using Cu-DHP copper (99.90% purity), with outer diameters up to 28mm, wall thicknesses from 0.30mm to 1.50mm, meeting DIN EN 12449, ASTM B 75, and IS-12444-1988 standards.
• Enameled Strips High-performance insulated copper strips for transformer windings and heavy-duty electrical machinery, featuring excellent thermal resistance, dimensional accuracy, and mechanical strength.
• Enameled Wires Precision-insulated copper wires for motors, generators, and coils, designed with consistent conductivity, tight dimensional tolerances, and ability to withstand thermal and mechanical stress.
• Continuous Transpose Conductors (CTC) Multi-strand copper conductors with transposed strands for transformer windings, designed to minimize eddy current losses, reduce hotspots, and enhance overall transformer efficiency.
• Yoke Assembly and Solenoid Switch Automotive electrical components including yoke assemblies and solenoid switches for starter motors in heavy-duty trucks and gensets, ISO 9001:2015 certified manufacturing.
• Solar Flat Plate Collectors Energy-efficient solar collectors for domestic hot water heating, available in 100 and 125 LPD capacities with copper or aluminum fins, toughened glass glazing, and rockwool insulation, manufactured to IS-12933-2003 standards.
• Solar Fins (Absorber Fins) Solar absorber fins manufactured from oxygen-free copper using ultrasonic welding, featuring NALSUN black chromium selective coating with 96%+ solar absorbance for optimal thermal conductivity in solar heating systems.
• Solar InterConnect Wires Tin-coated copper PV ribbons for solar photovoltaic modules, providing excellent electrical conductivity, strong solderability, and reliable connections between solar cells.
• Field Coils and Armature Pins OEM-grade field coils and armature pins for DC and AC motors, ISO 9001:2015 certified products supplied as GREEN BELT suppliers to Lucas TVS, Chennai.
• Commutators Barrel-type and riser-type commutators for automotive starter motors, manufactured from premium copper wire and mica insulation for LCVs, cars, and commercial vehicles, supplied to Lucas TVS.
• Submersible Wires Poly-wrapped winding wires for submersible pump motors, tested at 3500V with heat shock testing at 150-180°C, featuring energy efficiency and tear resistance.
• Heating Element, Thermostat, and Immersion Heaters Copper-based heating elements, thermostats, and immersion water heaters for domestic and industrial applications, manufactured to IS-4159, IS-3017, and IS-368 standards.

Quantifiable outcome

• Market capitalization crossed INR 1,000 crore
• +4 more outcomes

Named customers6 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and strategic.

• Tieramet LimitedcoreStrategic or Co-development Partner · 1 October 2025NCLT-admitted demerger scheme that will carve out Bhagyanagar India's copper manufacturing business into Tieramet Limited as a separately listed entity as part of corporate restructuring.
• National Aerospace LaboratoriesstrategicTechnology or IntegrationTechnology partnership for solar absorber manufacturing. Know-how technology provided by National Aerospace Laboratories under Bhagyanagar India Limited for solar selective coating (NALSUN black Chromium).

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Hindalco Industries: Aditya Birla Group's metals flagship and India's largest copper and aluminum producer, operating integrated smelting from copper cathode to semi-finished products. Bhagyanagar sources copper cathodes from Hindalco and competes with Hindalco in downstream copper bus bars, rods, wires, and foils serving the same Indian electrical/auto customers.
• Aurubis AG: European integrated copper group combining smelting/refining with semi-finished copper products for electrical, electronics, and industrial customers. Overlaps with Bhagyanagar in downstream copper semi-finished products, PICC, and conductor materials while operating a much broader portfolio.
• Hailiang Group: Chinese copper processing enterprise and one of Asia's largest producers of copper rods, strips, tubes, and conductor materials serving electrical, HVAC, and industrial markets. Useful global scale-and-product-set benchmark for Bhagyanagar's downstream copper semi-finished business.
• Jiangxi Copper Corporation: China's largest integrated copper producer covering mining, smelting, and downstream copper products including rods, wires, strips, and foils. Comparable across both scale and downstream copper semi-finished portfolio relevant to global benchmarks for Bhagyanagar.
• Vedanta Limited / Sterlite Industries: India's largest copper smelter and integrated copper producer through Sterlite, supplying cathodes, rods, wires, and downstream products nationally. Bhagyanagar sources cathodes from Sterlite and competes across the same downstream copper semi-finished product set serving switchgear, transformer, and electrical OEMs.

Direct peers

• Wieland Group: Germany-based global leader in semi-finished copper and copper alloy products — strips, sheets, rods, wires, tubes — serving electrical, automotive, and industrial markets. Directly comparable to Bhagyanagar's core copper bus bar/foil/sheet/strip/tube portfolio for industrial OEMs.
• MKM Mansfelder Kupfer und Messing: German copper and brass semi-finished products manufacturer producing strips, sheets, bars, and profiles for industrial applications. Comparable mid-cap copper semi-finished specialist with similar B2B/OEM customer model to Bhagyanagar.
• Poongsan Corporation: Korean manufacturer of copper and copper alloy rolled products, extruded products, and copper tubes/wires serving electrical, automotive, and construction end-markets. Direct competitor profile to Bhagyanagar in copper sheet, foil, rod, and tube categories.
• KME Group: Italian-owned global copper products manufacturer producing semi-finished and finished copper products (rods, tubes, sheets, strips) for industrial and energy markets. Highly comparable product overlap with Bhagyanagar's copper bus bars, rods, tubes, and foils business.
• Metrod Holdings Berhad: Malaysian-listed copper products manufacturer producing copper strips, rods, and conductors for electrical and electronic applications across Asia. Direct product-and-channel overlap with Bhagyanagar's copper conductors, strips, and rods businesses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bhagyanagar