RRKABEL
Large CapR R Kabel Limited
Industrials
R R Kabel Limited manufactures wires and cables, and fast-moving electrical goods (FMEG). The Wires & Cables segment is the primary revenue driver, with a growing focus on B2B and export markets. The FMEG segment is targeted for profitability improvement.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/4 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Good · 62/100Rev +34% YoY · PAT +30% YoY · +17% QoQ · margin compression
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,964 Cr | +33.6% | +16.9% |
| EBITDA | ₹262 Cr | +35.1% | +28.4% |
| Operating margin | 9.0% | +0 bps | +100 bps |
| PAT | ₹168 Cr | +30.2% | +42.4% |
| PAT margin | 5.7% | -15 bps | +102 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
RR Kabel reported highest ever Q4 and FY26 revenue, up 33.7% YoY and 27.6% YoY respectively. Wires & Cables drove growth with 36.3% YoY in Q4. EBITDA and PAT also saw strong YoY growth, supported by operating leverage and cost management.
Management remains on track for 'Project RRise' targets of 18% W&C CAGR and 2.5x EBITDA growth by FY28, despite FMEG breakeven delay to FY27 and short-term export disruptions. Strong W&C performance and strategic capex support the long-term growth narrative.
Revenue by Segment (FY26)
Latest issuer-disclosed distribution across 2 reported categories.
Wires & Cables Domestic Market
Domestic business showed healthy growth, supported by wide distribution network and strong brand equity.
Wires & Cables Export Market
Export growth remained encouraging despite Middle East disruption, benefiting from global presence and diversified market reach.
B2B Business Scaling
Company continues to focus on scaling its B2B business by strengthening availability and distribution, particularly in cables.
Cable Capacity Expansion
Planned capex is primarily focused on expanding cable capacity to support higher volumes and faster execution of orders.
Capex Program
INR1,200 crores capex program for FY26 to FY28 is progressing as planned, with INR300 crores invested in FY26.
Cable Capacity Expansion
Major expansion will occur in FY27. New capacity will enable production up to 220 KV cables, completed by FY28.
Capacity Addition Timeline
Management states that few capacities will be added every six months, not in one overnight big addition.
Steady Domestic Demand
India continued to benefit from steady demand drivers led by infrastructure, housing, and industrial activity.
Supportive Industry Demand
Industry demand remains supportive, with domestic demand for wires and cables remaining healthy.
Strong Export Market
Export market continued to perform well, with export demand relatively stronger during the quarter.
Geopolitical Tensions
Heightened geopolitical tension created uncertainty in global trade conditions and volatility in input costs.
Input Cost Volatility
Raw material prices, particularly copper, aluminum, and PVC, remained volatile, adding pressure across the value chain.
Middle East Disruption
Disruption in the Middle East impacted exports, with a higher impact expected in Q1 FY27.
Competitive FMEG Market
FMEG segment market conditions remained competitive, with demand trends continuing to be selective.
Geopolitical Impact on Exports
Prolonging war in the Middle East may have a higher impact on Q1 FY27 sales, as physical sales were not possible in March/April.
Raw Material Price Volatility
Volatility in copper, aluminum, and PVC prices, along with currency movement and freight costs, adds pressure.
FMEG Profitability Delays
FMEG breakeven target shifted to FY27 due to lower-than-expected volumes and input cost impact in Q4 FY26.
Competition in W&C
New players are entering the industry, but management plans to tackle this through quality, business structure, and focus on exports/B2B.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The company explicitly reports Q4 and full-year financial results with year-on-year growth percentages for revenue, EBITDA, PAT, and segment-wise performance, indicating YoY is the primary comparison basis.
Total Revenue
Q4 FY26: INR2,964.1 crores, up 33.7% YoY. Full-year FY26: INR9,722.4 crores, up 27.6% YoY.
Wires & Cables Revenue
Q4 FY26: INR2,666.4 crores, up 36.3% YoY. Full-year FY26: INR8,763.7 crores, up 31% YoY.
FMEG Revenue
Q4 FY26: INR297.7 crores, up 13.8% YoY. Full-year FY26: INR958.6 crores, up 3% YoY.
Wires & Cables Volume Growth
Q4 FY26: ~10% (wires mid-single digit, cables high teens). Full-year FY26: ~16%.
Project RRise Targets
Management remains on track for 3-year roadmap targets: 18% CAGR in Wires & Cables, 25% CAGR in FMEG, and 2.5x EBITDA growth.
FMEG Breakeven Target
FMEG losses have reduced, and the company is now targeting to achieve breakeven in FY27.
Wires & Cables Margin Improvement
Management is confident of achieving 10.5% EBIT margins in the Wires & Cables segment by FY28.
Strategic Focus
Focus remains on strengthening W&C, improving margins through scale and better mix, and moving FMEG towards profitability.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Wires & Cables Volume Growth | FY26: ~16% | Achieving 16%-18% volume growth in FY27. |
| FMEG Revenue Growth | FY26: 3% YoY | Achieving 20%-25% value growth in FMEG business in FY27. |
| FMEG Breakeven | Losses reduced in FY26 | Achieving breakeven in FMEG segment in FY27. |
| Wires & Cables EBIT Margin | Improved by 130 bps so far | Progress towards 10.5% EBIT margins in W&C segment by FY28. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
The Indian Wires and Cables market size is projected to grow from INR 748 billion in FY23 to INR 1,200 billion by FY27P.
"W&C Market Size (INR Bn) FY23 748, FY27P 1,200"
The branded market share in the Wires and Cables segment is projected to increase from 72% in FY23 to 80% by FY27P.
"Branded Market Share (FY23) 72%, Branded Market Share (FY27P) 80%"
Project KaRRma 1 aims to double market share and retail outreach in domestic house wires.
"Double market share and retail outreach in domestic house wires"
RR Kabel is well-positioned to benefit from the global shift to the China Plus 1 Policy.
"Well-positioned to benefit from the global shift to China Plus 1 Policy"
Trend score and candlestick chart
56NeutralSMA20 +35.2% / mo · near 52W high
Technical chart
RRKABELweekly · 6M+52.9%Technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 71.
- RSI(14) at 71 — overbought zone; risk of mean reversion.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 15/20 to the score.
- Growth contributes 18/25 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -11.3%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
High Trust: Claim history is still being built. It ranks around the 100th percentile of the scored universe and 100th percentile within Industrials. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 61.7%.
Management behaviour ranks as unusually reliable. Still verify valuation and cycle risk.
overall median 67 · Industrials: 100th pctile, median 68 · Large: 100th pctile, median 74
55 documents indexed, but claim history is not strong enough yet.
4 claims extracted · No contradicted claim yet
How to read this Trust Score
High Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 61.7%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸6 years of positive FCF.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 48.20
- P/B
- 9.45
- EV/EBITDA
- 28.23
- Market Cap
- 24393.00Cr
Profitability
- ROE
- 21.40%
- ROCE
- 28.10%
- ROA
- 10.65%
- Dividend Y
- 0.44%
Growth (CAGR)
- Revenue 5Y
- 29.00%
- EPS 5Y
- 31.00%
- Revenue 3Y
- 20.00%
- EPS 3Y
- 39.00%
Balance Sheet
- Debt/Equity
- 0.13
- Interest Coverage
- 10.45×
- Altman Z
- 9.63
- Book Value
- 228.00
Cash Flow
- FCF Yield
- 0.13%
- FCF Positive Y
- 6/5
- OCF
- 295.00 Cr
- EPS TTM
- 43.52
Shareholding
- Promoter Hold
- 61.65%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 92%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.