Archive · 10 Oct 2026
Cable and wire stocks expected to post strong Q2 growth
A brokerage firm expects cable and wire companies to have a strong quarter.
It thinks companies may earn more because copper and aluminium prices are higher and those costs can be passed on.
The number of products sold is expected to rise more slowly than their value.
Diamond Power Infrastructure and Finolex Cables are named as possible outperformers.
Polycab, KEI Industries and RR Kabel are also expected to report growth.
Polycab's sales are forecast to rise, but its profit margin may be lower than last year.
The brokerage says a new cable business from UltraTech Cement has not materially affected the existing companies so far.
These figures are forecasts, not reported results.
InCred Equities expects a robust second quarter for cable and wire companies, driven by value-led growth.
Higher copper and aluminium prices are expected to be passed on, while volumes are forecast to grow at low to mid-single-digit rates.
Diamond Power Infrastructure and Finolex Cables are highlighted as potential outperformers; Polycab India, KEI Industries and RR Kabel are also forecast to grow.
Polycab is forecast to increase revenue by nearly 39% year over year, while its EBITDA margin is expected to fall 215 basis points to 13.6%.
InCred says it has seen no material impact on established industry players from UltraTech Cement's launch of Ultravolt.
- Who
- InCred Equities and the cable and wire companies it covers, including Diamond Power Infrastructure, Finolex Cables, Polycab India, KEI Industries and RR Kabel.
- What
- A brokerage preview forecasts strong, value-led growth for the sector in the second quarter of FY2026-27.
- When
- The second quarter of FY2026-27; share prices cited in the article are from Friday, October 9.
- Where
- The article concerns companies in India's cable and wire sector.
- Why
- Higher copper and aluminium prices are expected to be passed through, alongside continued demand and, for some companies, favourable product mix.
- Forecast period
- Second quarter of financial year 2026-27
- Sector outlook
- Robust, value-led growth; volumes forecast at low to mid-single-digit growth
- Polycab India
- Revenue forecast to rise nearly 39% year over year; EBITDA margin estimated at 13.6%, down 215 basis points year over year
- KEI Industries
- Revenue forecast to rise 27% and EBITDA 48% year over year; margin estimated at about 11.5%
- RR Kabel
- Revenue and EBITDA forecast to rise 39% and 48% year over year, respectively; quarterly PAT forecast to decline about 16%
- Finolex Cables
- Revenue forecast to rise 38% year over year; EBITDA margin estimated at about 10.9%
- New competition
- InCred Equities reports no material industry impact so far from Ultravolt, UltraTech Cement's cable business